Platelet-Rich Plasma Global Market to Grow Substantially at a CAGR of ~11% by 2028 | DelveInsight

Platelet-rich plasma (PRP) demand is being driven primarily by an increase in the number of patients suffering from orthopedic diseases, sports injuries, acute and chronic wounds, gynecological diseases, and urological diseases, among other conditions. Furthermore, the increasing demand for platelet-rich plasma in various aesthetic procedures as well as increasing product launches and approval by leading companies such as Johnson & Johnson, Zimmer Biomet, Arthrex, Terumo Corporation, Stryker, and others, are all contributing to the overall growth of the platelet-rich plasma market.

LAS VEGAS, June 27, 2023 /PRNewswire/ -- DelveInsight's Platelet-Rich Plasma Market Insights report provides the current and forecast market analysis, individual leading platelet-rich plasma companies' market shares, challenges, platelet-rich plasma market drivers, barriers, trends, and key market Platelet-Rich Plasma companies in the market.

Key Takeaways from the Platelet-Rich Plasma Market Report

• As per DelveInsight estimates, North America is anticipated to dominate the global platelet-rich plasma market during the forecast period. 
• Notable platelet-rich plasma companies such as Johnson & Johnson, Zimmer Biomet, Arthrex, Terumo Corporation, Stryker, Dr. PRP USA LLC., Juventix Regenerative Medical, LLC., EmCyte Corporation, Apex Biologix, Celling Biosciences, Isto Biologics, Exactech, Inc., Nuo Therapeutics, Inc., Regen Lab SA, CollPlant Biotechnologies Ltd., Estar Technologies Ltd., ELTEK S.P.A., Royal Biologics, PRP Concepts, Crown, and several others, are currently operating in the platelet-rich plasma market.
• In May 2023, Regen Lab, a global commercial-stage medical technology company specializing in the research, development, registration, manufacturing, and commercialization of proprietary tissue engineering products, announced that its best-in-class medical devices REGENKIT®, CELLULAR MATRIX fig®, and Arthrovisc® have received CE certification under the EU Medical Device Regulation 2017/745.
• In February 2023, Royal Biologics, a company specializing in Advanced Cellular Technologies & Enhanced Autologous Solutions, announced the commercial launch of BIOINCYTE™ PRFM, a next-generation PRP system, which converts traditional PRP to Platelet Rich Fibrin Matrix (PRFM) formulations.
• In October 2022, i-Stem PRP Kit Platelet Rich Plasma Therapy was launched in the UK, which is a unique, modernized anti-shake patented i-Stem PRP System, for the safe and effective treatment within the exciting field of regenerative medicine, making the treatment effective and simple.
• In September 2021, Royal Biologics, an ortho-biologics company focused on Autologous and Live Cellular solutions, announced FDA 510K approval of their Maxx- PRP concentration system. The system is a patented next-generation concentration device that can be used to concentrate autologous whole blood for the safe and rapid preparation of platelet-rich plasma to use point of care for mixing with autograft and/or allograft to improve handling characteristics.
• In February 2020, EmCyte, the world leader in platelet-rich plasma and progenitor stem cell biologics, announced FDA 510(k) clearance for its PurePRP® Supraphysiologic Concentrating System for platelet-rich plasma. The system is cleared to be used for the safe and rapid preparation of autologous platelet-rich plasma (PRP) extracted from sample of blood at the patient's point of care.

To read more about the latest highlights related to the platelet-rich plasma market, get a snapshot of the key highlights entailed in the Global Platelet-Rich Plasma Market Report

Platelet-Rich Plasma Overview

Platelet-rich plasma (PRP) is obtained from blood. It is produced when human blood is spun down and platelet-rich plasma with platelet concentrations above normal levels is isolated. Platelets aid in blood clotting as well as the repair of tendons, muscles, and ligaments. A normal platelet count is 150,000 to 450,000 platelets per microliter of blood. Platelet-rich plasma. Platelet-rich plasma is used in a variety of operations, including shoulder rotator cuff augmentation and tendon repair. Platelets are exceptionally high in healing agents and connective tissue growth.

Platelet-Rich Plasma Market Insights

North America accounted for the highest proportion of the platelet-rich plasma market in 2022, accounting for 43% of all regions. PRP demand is expected to rise during the forecast period due to factors such as an aging population, an increase in traumatic injuries caused by falls, accidents, and other causes, an increase in the number of orthopedic and cosmetic procedures, and recent product launches in the region. Furthermore, increased physician and patient awareness of newly established treatment processes and technologies are likely to contribute to the growth of the North America platelet-rich plasma market. Moreover, a high disposable income, advanced healthcare infrastructure, regulatory approval for new products, and a high level of knowledge regarding ophthalmic diseases all contributed to the success of the North American platelet-rich plasma market growth.

To know more about why North America is leading the market growth in the platelet-rich plasma market, get a snapshot of the Platelet-Rich Plasma Market Outlook 

Platelet-Rich Plasma Market Dynamics

The platelet-rich plasma market is seeing increased product demand due to a variety of factors, one of which is the increased prevalence of various therapeutic indications. PRP can successfully manage pain in orthopedic conditions and treat osteoporosis. As a result of the rising prevalence of orthopedic diseases such as arthritis, tennis elbow, golfer's elbow, plantar fasciitis, rotator cuff injuries, and others, the demand for PRP therapy will rise, as will the demand for PRP systems and kits used in PRP therapy.

Moreover, PRP therapy for fat grafts improves fat graft survival, reduces bruising and inflammation, and makes fat graft application easier. Furthermore, platelets-rich plasma is reported to accelerate healing by minimizing postoperative edoema and bleeding, making it useful in a variety of cosmetic operations. Thus, the increasing demand for platelet-rich plasma in various aesthetic operations such as cosmetic facials, facial rejuvenation, acne scars, facial scarring, facelift, and others will have a favorable impact on the platelet-rich plasma market in the approaching years.

Furthermore, PRP is extensively utilized for hair restoration in addition to facial surgeries. PRP can be used as a monotherapy or as an addition to conventional therapy or hair transplantation to treat hair loss, including androgenetic alopecia and female pattern hair loss.

However, the presence of alternative treatment choices, many sessions, resulting in high therapy costs, and other factors may limit the growth of the platelet-rich plasma market.

Additionally, during the COVID-19 pandemic, the platelet-rich plasma market was greatly impacted. The pandemic's spread resulted in the cancellation of outpatient consultations as well as the suspension of non-emergency hospitalization and treatment procedures for a variety of conditions such as orthopedic and sports injuries, gynecological, urological, cosmetic, and others. As a result, the number of individuals receiving standard therapy for the aforementioned illnesses has decreased. Furthermore, several elective procedures were postponed while the care of patients infected with coronavirus was prioritized.

Furthermore, supply chain, raw material, and other resource constraints interrupted device manufacturing, resulting in a shortage of devices and kits on the market. However, the invention of the COVID-19 vaccine triggered the economic recovery process. Furthermore, with the easing of lockdown restrictions and the return of normalcy in the economic landscape, the process of resumption of regular healthcare services such as outpatient visits for various treatments, therapies, and surgeries for the aforementioned ailments began, bringing the platelet-rich plasma market back on track.

Get a sneak peek at the platelet-rich plasma market dynamics @ Platelet-Rich Plasma Market Dynamics Analysis

Platelet-Rich Plasma Market Assessment

• Platelet-Rich Plasma Market Segmentation
• Platelet-Rich Plasma Market Segmentation By Product Type: PRP Systems and PRP Kits
• Platelet-Rich Plasma Market Segmentation By PRP Type: Pure Platelet Rich Plasma, Leukocyte Rich Plasma, and Others
• Platelet-Rich Plasma Market Segmentation By Application: Orthopedic, Sports Medicine, Cosmetic Surgery, and Others
• Platelet-Rich Plasma Market Segmentation By End User: Hospitals, Clinics, and Others
• Platelet-Rich Plasma Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
• Porter's Five Forces Analysis, Product Profiles, Case Studies, KOL's Views, Analyst's View

Which MedTech key players in the platelet-rich plasma market are set to emerge as the trendsetter explore @ Platelet-Rich Plasma Companies 

Table of Contents 

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About DelveInsight

DelveInsight is a leading Business Consultant, and Market Research firm focused exclusively on life sciences. It supports pharma companies by providing comprehensive end-to-end solutions to improve their performance. 

Contact Us
Shruti Thakur  
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+1(919)321-6187
https://www.delveinsight.com/medical-devices 

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SOURCE DelveInsight Business Research, LLP

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