The U.S. platelet rich plasma market size is expected to reach around USD 364.1 million by 2027, according to a new report by Vision Research Reports.
The U.S. platelet rich plasma market size was valued at USD 165 million in 2019 and is expected to grow at a CAGR of 10.1% from forecast period 2020 to 2027.
Platelet-rich plasma (PRP) has gained significant popularity in the field of orthopedics, neurosurgery, ophthalmology, and cosmetic surgery as it integrates modern technology with the body's capability to accelerate healing. A rise in the incidence of musculoskeletal disorders, orthopedic disorders, and sports injuries has encouraged clinicians to embrace minimally invasive platelet rich plasma therapy with less risk of therapy-associated adverse effects, which propels the market growth.
The leukocyte-rich platelet rich plasma segment is expected to witness a significant increase in the commercial pool and number of experimental studies expanding its applications across orthopedic, general surgery, and sports medicine
Numerous advancements in leukocyte PRP market space by manufacturers, mainly in protocol automation to maximize the standardization of plasma preparations are driving the segment
The cosmetic surgery and dermatology application segment is expected to foresee the highest growth rate during the overcast period
This is due to a rapid increase in preference among the consumers as injections based on this therapy help to achieve fuller facial features without opting for commercial fillers
Platelet rich plasma systems are estimated to witness the fastest growth rate throughout the forecast period in the sports medicine application
The advent of novel separation systems by key manufacturers that are specific to platelet rich plasma applications as well as functions vertically and are applicable across autologous cellular therapies boost the growth of these systems
Numerous medical visits, high burden of orthopedic disorders particularly in geriatric population, and widespread application of this therapy for musculoskeletal injuries result in the dominant share of hospitals in 2019
More than 300,000 old aged people, over 65 years, are hospitalized for hip fractures every year in the U.S.
This high hospitalization rate surges the incorporation of platelet rich plasma as an adjunctive use in hip surgeries in hospital settings
Key manufacturers are implementing business strategies such as broadening of product portfolio, widening of distribution network, and collaborations and mergers to reinforce their significant share in the market.
Some of the prominent players are:
DePuy Synthes (Johnson & Johnson)
Dr. PRP America LLC
Juventix Regenerative Medical
Terumo BCT, Inc.
Leukocyte Rich PRP
Cosmetic Surgery and Dermatology