The global Platelet Rich Plasma market size is expected to be worth around US$ 1.01 billion by 2028, according to a new report by Vision Research Reports.
The global Platelet Rich Plasma market size was valued at US$ 414.7 million in 2020 and is anticipated to grow at a CAGR of 12.2% during forecast period 2021 to 2028.
The rise in the geriatric population, increasing incidence of orthopedic diseases, rising healthcare expenditure and patient awareness, and introduction of advanced products are factors likely to contribute to market growth over the forecast period.
Technological advancements in the development of novel and innovative platelet rich plasma (PRP) products are expected to propel market growth. Market participants are developing advanced products to reinforce their market share and overcome current limitations. In February 2020, Florida-based EmCyte Corporation received FDA’s 510(k) approval for its Pure PRP Supraphysiologic Concentrating System, intended for producing platelet rich plasma from a small quantity of blood sample at Point-of-care (PoC) settings. This is an advanced autologous biologic concentrating system that can enable clinicians to improve their work.
Pure platelet rich plasma dominated the market and accounted for the largest revenue share of 53.02% in 2020. High adoption of the type as a result of the advantages offered and expanding applications across various therapeutic areas drive the segment. In addition, an increasing number of service providers is expected to boost segment growth.
Legally, since PRP has significant potential in treating various chronic conditions, its current off-label use has encouraged several manufacturers across the globe to develop different types of products. The estimated clinical advantages associated with PRP can help increase the scope of commercializing products associated with pure, leukocyte-rich, and leukocyte-rich fibrin platelet rich plasma.
Several emerging companies have invested in the development of pure platelet rich plasma products over the years, strengthening the industry. For instance, Pure Spin PRP, a U.S.-based manufacturer, offers an advanced PRP system for centrifugation.
The orthopedics segment dominated the PRP market and held the largest revenue share of 30.6% in 2020. According to various research studies, plate
let rich plasma is found to be most effective in the treatment of chronic tendon injuries in which they have the potential to accelerate the healing process. PRP injections as orthopedic therapeutics are convenient when compared to conventional approaches as it stimulates healing and leads to self-regeneration and repair of degenerative tissue.
In addition, a combination of surgical techniques and liquid PRP in orthopedic surgery enables a broad range of therapeutic strategies for the management of injuries in this field. The use of platelet rich plasma as rehabilitation and biological stimuli along with physiotherapy helps in preventing the disease progression and improves functioning in a shorter period. Furthermore, certain benefits of PRP such as long-lasting relief, improved healing after surgery, soft tissue reconstruction, and bone reconstruction and augmentation are few factors responsible for supplementing the demand for PRP-based orthopedic treatments.
Dermatology is expected to grow at a significant rate from 2020-2027. The use of autologous platelet rich plasma has proven to be an efficient treatment for diabetic ulcers and other non-healing ulcers. In addition, platelet rich plasma-based treatment approaches are further set to gain immense traction, attributed to the ease of application, cost-effectiveness, and facilitating growth factors to enhance tissue healing. This has increased the adoption of PRP across various research activities carried on the lines of ulcer healing, contributing to the segment growth.
Hospitals dominated the market and accounted for a revenue share of 50.2% in 2020 as there are a substantial number of hospitals providing PRP-based therapies across the globe. Hospitals in middle-income countries are prominently focusing on PRP treatment for esthetic applications. With hair loss becoming a common issue, the application of PRP treatment for hair loss is increasing. These treatments are cost-effective and nonsurgical and a substantial number of hospitals are providing these treatments to patients.
companies, such as Focus Technology Co., Ltd., Jiangsu Kangjian Medical Apparatus Co., and Changsha Biomed Supply Co., Ltd., provide Clinical Prp Prf Blood Gel Card Centrifuge and other centrifuge systems for hospital settings. With the increasing adoption of PRP treatments, hospitals are anticipated to generate more revenue in the coming years. The clinical segment is propelled by growing medical tourism in countries such as Mexico, China, and Costa Rica.
Mexico is one of the emerging countries with a growing medical tourism market. Russald Clinic and R3 Stem Cell are some of the clinics in Mexico that offer PRP therapies, thereby supporting medical tourism in the country. The services offered by these clinics include PRP therapy for hair loss, facial surgeries, shoulder surgeries, and erectile dysfunction. Reduced cost at several clinics is a major factor propelling segment growth.
North America dominated the market with a revenue share of 46.2% in 2020. This can be attributed to increased awareness about platelet-rich plasma treatments, technological advancements, and the rising number of cosmetics surgeries in the region. Active involvement of academic and research institutes, such as Yale School of Medicine and Springfield College of Health Care, Management and Technology, for evaluating the application of platelet-rich plasma therapies further accelerates market growth in the region.
Johnson & Johnson
DR. PRP AMERICA, LLC
Pure Platelet Rich Plasma
Leukocyte Rich Platelet Rich Plasma
Pyoderma Gangrenosum Ulcer
Middle East and Africa (MEA)
The Platelet Rich Plasma market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Platelet Rich Plasma market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Platelet Rich Plasma market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Platelet Rich Plasma market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Platelet Rich Plasma market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Platelet Rich Plasma capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Platelet Rich Plasma by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Platelet Rich Plasma market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Platelet Rich Plasma market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Platelet Rich Plasma market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Platelet Rich Plasma industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Platelet Rich Plasma market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Platelet Rich Plasma market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Platelet Rich Plasma market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Platelet Rich Plasma market. These factors have benefited the growth of the global market for Platelet Rich Plasma. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Platelet Rich Plasma. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Platelet Rich Plasma are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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