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Platelet-Rich Plasma Market

Platelet-Rich Plasma Market

Platelet-Rich Plasma Market Analysis by Product Type (Platelet-Rich Plasma Instruments, Pure Platelet-Rich Plasma Kits, Platelet-Rich Fibrin Kits, Pure Platelet-Rich Fibrin Kits), by Application (Orthopedic Surgery, Cosmetic Surgery, General Surgery), by End User - Global Forecast 2021-2031

Platelet-Rich Plasma Market
FACT170MR
  • Jul-2021
  • List of Tables : 241
  • List of Figures : 87
  • 170 Pages
  • Healthcare

Platelet-Rich Plasma Market Outlook

The platelet-rich plasma market is slated to touch an impressive valuation of around US$ 1.5 Bn surpassing a CAGR of 12% during the assessment period.

The market remains influenced by its integral use in the healthcare industry, especially in orthopedic surgeries and cosmetic surgeries. Injuries like the rotator cuff, tendon injuries, tennis elbow, and hamstring among others are healed quickly and effectively with the help of platelet-rich plasma therapy.

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Consumption Analysis of Platelet-Rich Plasma from 2016-2020 Vs Market Outlook for 2021 to 2031

As per Fact.MR – a market research and competitive intelligence provider- over the last 5 years, the global market for platelet-rich plasma expanded at over 10% CAGR, closing in at over US$ 400 Mn. Increasing sports injuries incidence have majorly heightened demand in recent years.

Application prospects further widened during the COVID-19 pandemic. Studies advocating possible inoculation against the novel coronavirus after administering the plasma of a formerly infected patient has elevated its prospects manifold.

Fact.MR projects demand for platelet-rich plasma to surpass a value of US$ 1.5 Bn by 2031, registering a CAGR of over 12%. Treatment of medical conditions such as erectile dysfunction and facelift surgeries are some of new application areas in the platelet-rich plasma market.

How are Hair and Skin Care Therapies Translating into Incremental Opportunities for Stakeholders?

Due to the several application areas where plasma therapy can be used, especially in cosmetic surgeries, the growth of the market for platelet-rich plasma has remained significant. 

Apart from musculoskeletal conditions, companies in the platelet-rich plasma market are tapping growth opportunities in hair and skin care. Micro-needling, with the help of platelet-rich plasma injections, holds promising potentials to improve skin texture and appearance.

Platelet-rich plasma is injected deep into the scalp to reach the bottom of the hair follicle. This helps to stimulate a specialized population of cells named dermal papilla cells, which contribute to hair growth. Companies in the platelet-rich plasma market are increasing their production of injections that aid in hair growth.

An Adaptive Approach to Modern-day Research Needs

Why is Increasing Prevalence of AGA Stimulating PRP Therapy Uptake?

According to National Center for Biotechnology Information, in addition to its original intended use for skin rejuvenation, micro-needling is gaining traction for novel uses such as transcutaneous medication delivery.

The high prevalence of androgenetic alopecia (AGA), i.e. hormone-related baldness in individuals worldwide is acting as a key driver for the market. This form of hair loss affects an estimated 50 million men and 30 million women in the United States. Androgenetic alopecia can start as early as a person's teens and the risk increases with age; more than 50 percent of men over age 50 have some degree of hair loss.

Is Platelet-Rich Plasma Therapy an Alternative to Steroid-based Therapy?

Platelet-rich plasma is trending as a quick and effective treatment for orthopedic diseases, neurological diseases, sports injuries, and cardiothoracic diseases.  Companies in the platelet-rich plasma market are becoming aware of the benefits of platelet-rich plasma therapy for back pain.

Interventional pain physicians at the Ohio State University Wexner Medical Center are utilizing platelet-rich plasma (PRP) injections to treat sacroiliac (SI) joint pain and back pain. The treatment has been widely studied and used for knee osteoarthritis and physicians are not using the therapy to treat other joints, particularly in the spine. 

Platelet-rich plasma therapy is emerging as an alternative to steroid injections and is contributing towards the growth of the platelet-rich plasma market owing to its long-lasting benefits as compared to steroids.

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Country-Wise Analysis

How is the U.S Emerging as a Promising Hub for Platelet-Rich Plasma Therapy?

The United States is anticipated to dominate the market demand for platelet-rich plasma during the forecast period, experiencing a CAGR of around 9% until 2031.

The U.S Food and Drug Administration oversaw multiple clinical trials regarding the potential of plasma-rich proteins in treating COVID-19, prompting healthcare providers and leading manufacturers to increase PRP therapy uptake.

As per a survey conducted by the Centers for Disease Control and Prevention (CDC), in the United States, about 54.4 million adults (22.7%) are diagnosed with common arthritis, rheumatoid arthritis, and gout, increasing uptake of the treatment.

According to research, around 86,000 athletes are treated with plasma-rich protein therapy in the U.S. annually. Moreover, platelets play an important role in healing wounds and other muscular injuries. This is anticipated to drive the segment over the next few years.

What is the Demand Outlook for Platelet-Rich Plasma in the U.K?

The U.K is projected to be the most lucrative market for platelet-rich plasma across Europe, with growth bolstering owing to the increasing number of sports injuries. 

As per Fact.MR projections, the market is projected to expand through 2031 registering nearly 8% CAGR.

What are the Growth Opportunities for Platelet-Rich Plasma in India?

India is expected to showcase impressive growth prospects for the market for platelet-rich plasma during the forecast period. Uptake is increasing due to high prevalence of inflammatory disorders.

According to Arthritis India, arthritis affects 15% of people, i.e., over 210 million people in India. Dearth of trained rheumatologists in India has led to the management of these diseases by untrained doctors, alternative medicine practitioners, and quacks. Arthritis-India aims at providing scientific information on arthritis and allied conditions and helps patients overcome their problems. 

Considering these factors, the Indian region is projected to capture a major market share in the overall Asia-pacific region. A CAGR of approximately 8% has been projected for the Indian market.

Category-Wise Analysis

Why are Hospitals the Primary Point-of-Care Centers for PRP Therapy?

Hospitals are increasingly witnessing an inflow of patients opting for PRP injections to treat orthopedic conditions. Moreover, the doctors treat osteoarthritis with platelet-rich plasma by injecting it directly into the affected joint to reduce pain, improve joint function, and slow, halt, or even repair damage to the cartilage.

As per the forecast of Fact.MR, the hospitals end-user segment is slated to register a 10% CAGR during the forecast period. 

Why are Pure Platelet-Rich Plasma Kits Surging in Demand?

The pure platelet-rich plasma kits segments dominated the global market in 2020, comprising over 50% of global revenue. Multiple advantages, including faster healing process, tissue repair and generation and improvement in overall function have heightened its demand.

Effective elimination of risks and adverse effects, such as an allergic or immune reaction in pure PRP therapeutic approach, has gained the attention of entities operating in the market.

Competitive Landscape

The market is moderately competitive and is divided into companies that are expected to remain active in the expansion of the global platelet-rich plasma market through 2031. 

Players focus on adopting various strategies to expand product offerings and strengthen geographic presence. With the advancement in technology, new players are expected to enter the market.

  • In February 2021, Atlas Health Medical Group announced PRP availability (Platelet Rich Plasma) Microneedling Facelifts to patients. In addition to this, in February 2020, EmCyte completed the acquisition of Cellmedix Holdings LLC, including all the assets of the U.S.-based company such as the proprietary product system, namely Centrepid Platelet Concentrator.

Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value & ‘000 Units for Volume

Key Regions Covered

 

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

Key Countries Covered

  • U.S.
  • Canada
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • Brazil
  • Mexico
  • Argentina
  • GCC
  • South Africa

Key Market Segments Covered

  • Product Type
  • End User
  • Application
  • Region

Key Companies Profiled

 

  • Arthrex, Inc.
  • Johnson & Johnson
  • Zimmer Biomet Holdings, Inc.
  • Exactech, Inc.
  • Stryker Corporation
  • Terumo Medical Corporation
  • Biotest Aktiengesellschaft
  • CSL Ltd

Pricing

Available upon Request

Key Segments Covered

  • Product Type

    • Platelet-Rich Plasma Instruments
    • Pure Platelet-Rich Plasma Kits
    • Leucocyte-Rich Platelet-Rich Plasma Kits
    • Platelet-Rich Fibrin Kits
    • Pure Platelet-Rich Fibrin Kits
  • Application

    • Platelet-Rich Plasma for Orthopedic Surgery
    • Platelet-Rich Plasma for Cosmetic Surgery
    • Platelet-Rich Plasma for General Surgery
    • Platelet-Rich Plasma for Neurosurgery
    • Platelet-Rich Plasma for Other Surgeries
  • End User

    • Platelet-Rich Plasma Therapy in Hospitals
    • Platelet-Rich Plasma Therapy in Orthopedic Clinics
    • Platelet-Rich Plasma Therapy in Dermatology Clinics
    • Platelet-Rich Plasma Therapy by Other End Users

- FAQs -

As of 2020, demand for platelet-rich plasma therapy surpassed US$ 400 Mn in value

Between 2016 and 2020, demand for platelet-rich plasma therapy expanded at around 10% CAGR

According to Fact.MR, platelet-rich plasma uptake is poised to surge at a staggering 12% CAGR to surpass US$ 1.5 Bn by 2031

Increasing scope for treating androgenetic alopecia (AGA) and inflammation disorders such as arthritis are spurring uptake of PRP therapies across major regions

Uptake of platelet-rich plasma therapy in the U.S is expected to grow at around 9% CAGR

U.K is poised to register nearly 8% CAGR across the 2021-2031 forecast period

India is anticipated to account for approximately 8% CAGR with respect to platelet-rich plasma therapy demand

Pure platelet-rich plasma therapy is expected to account for over 50% revenue through 2031

Hospitals are the primary end users of platelet-rich plasma, growing at 10% CAGR

Arthrex Inc., Zimmer Bioment Holdings and Johnson & Johnson are some prominent platelet-rich plasma manufacturers

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