Healthcare

Global Platelet Rich Plasma Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope

Platelet-rich plasma (PRP) refers to a concentrated form of plasma that is enriched with platelets, growth factors, and other bioactive proteins. It is derived from the patient’s own blood through a process of centrifugation, which separates the platelets from other components of the blood. Platelet-rich plasma (PRP) is used in various medical and cosmetic applications due to its ability to promote healing and tissue regeneration.

Sizing and Forecast

The platelet rich plasma market size has grown rapidly in recent years. It will grow from $0.61 billion in 2023 to $0.71 billion in 2024 at a compound annual growth rate (CAGR) of 17.1%. The growth in the historic period can be attributed to rising demand for minimally invasive procedures, rising prevalence of chronic conditions such as arthritis, growing focus on pain management and injury recovery, increasing adoption of PRP in veterinary medicine, rising disposable income and healthcare expenditure.

The platelet rich plasma market size is expected to see rapid growth in the next few years. It will grow to $1.34 billion in 2028 at a compound annual growth rate (CAGR) of 17.3%. The growth in the forecast period can be attributed to growing prevalence of sports injuries, increasing incidence of orthopedic disorders, rising demand for cosmetic and aesthetic procedures, aging population and related increase in age-related conditions, growing number of clinical trials supporting PRP efficacy. Major trends in the forecast period include technological advancements in platelet-rich plasma processing systems, new recent developments, emergence of new applications of platelet-rich plasma therapy, ongoing research and innovation, increasing investments.

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Segmentation & Regional Insights

The platelet rich plasma market covered in this report is segmented –

1) By Type: Pure Platelet Rich Plasma, Leukocyte-Rich Platelet Rich Plasma, Leukocyte-Rich Fibrin, Other Types
2) By Origin: Allogeneic Platelet Rich Plasma, Autologous Platelet Rich Plasma, Homologous Platelet Rich Plasma
3) By Application: Cosmetic Surgery And Aesthetics, General Surgery, Neurosurgery, Orthopedic And Spinal Surgery, Other Applications
4) By End User: Hospitals And Clinics, Research Institutes, Other End-Users

North America was the largest region in the platelet-rich plasma market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the platelet rich plasma market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

The rise in the prevalence of sports injuries is expected to propel the growth of the platelet-rich plasma market going forward. There is a rise in the prevalence of sports injuries due to increased participation in sports, growing enrollment in youth sports programs, age-related factors, and inadequate coaching and supervision. Platelet-rich plasma (PRP) therapy aids in sports injury recovery by promoting tissue repair and regeneration, reducing inflammation, and enhancing the healing of tendons and ligaments, offering athletes a minimally invasive treatment option with the potential for faster recovery times. For instance, according to data from the National Safety Council, a US-based non-profit organization, in 2021, the number of sports and recreational equipment injuries was 3,231,885, which rose to 3,631,970. Therefore, the rise in the prevalence of sports injuries is driving the growth of the platelet-rich plasma market.

Key Industry Players

Major companies operating in the platelet rich plasma market are Johnson & Johnson Services Inc., Stryker, Zimmer Biomet, Terumo Corporation, Arthrex Inc., Pall Corporation, Globus Medical, LifeNet Health, Exactech Inc., BioBridge Global, Regen Lab SA, Celling Biosciences Inc., Eclipse Aesthetics LLC, Regenexx, Isto Biologics, Royal Biologics, Apex Biologix, EmCyte Corporation, Medira Ltd., Nuo Therapeutics Inc., Juventix Regenerative Medical LLC., Estar Medical, Dr PRP USA LLC, MDBiologix, Vivostat A/S

The platelet rich plasma market report table of contents includes:

1. Executive Summary
2. Platelet Rich Plasma Market Characteristics
3. Platelet Rich Plasma Market Trends And Strategies
4. Platelet Rich Plasma Market – Macro Economic Scenario
5. Global Platelet Rich Plasma Market Size and Growth
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32. Global Platelet Rich Plasma Market Competitive Benchmarking
33. Global Platelet Rich Plasma Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Platelet Rich Plasma Market
35. Platelet Rich Plasma Market Future Outlook and Potential Analysis
36. Appendix