Platelet-Rich Plasma Market

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.

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.

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.

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