Platelet-rich Plasma Market to Reflect Impressive Growth Rate by 2027
Transparency Market Research (TMR) has published a new report titled, “Platelet-rich Plasma Market- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027”. According to the report, the global platelet-rich plasma market was valued at US$ 219.3 Mn in 2018 and is projected to expand at a CAGR of 11.4% from 2019 to 2027. Increase in the number of orthopedic patients globally, rising number of cosmetic surgical procedures, and growing awareness about platelet-rich plasma therapies to drive the global platelet-rich plasma market from 2019 to 2027.
Overview
- North America and Europe are projected to dominate the global platelet-rich plasma market during the forecast period, primarily due to the high prevalence of orthopedic disorders, rise in incidence rates of rheumatology, increase in the number of sport injuries, and surge in adoption of platelet-rich plasma therapy.
- The platelet-rich plasma market in Asia Pacific is expected to expand at a significant CAGR from 2018 to 2026. This is attributed to surge in investment in health care infrastructure, economy growth, large population base with orthopedic and rheumatology disorders in emerging countries such as China, India, South Korea, and Malaysia, and rise in per capita health care expenditure in the region.
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Growing Awareness about Platelet-rich Plasma Therapies
- Platelet-rich plasma technology was first used in 1987 in cardiovascular surgery. Awareness about the advantages and applications of platelet-rich plasma was limited to research laboratories only.
- However, value-added advantages and applications of platelet-rich plasma therapy over conventional wound healing and disease treatments, such as, surgery and medicines have resulted in higher demand for platelet-rich plasma products globally
- Increase in awareness has driven the demand for platelet-rich plasma therapy in the past few years in the emerging economies, such as, China, India, Brazil, and Russia, as well as in developed regions, including North America and Europe
- Global players such as Cesca, Harvest, Arthrex, and Biomet are strengthening their existing distribution networks in these regions in order to increase their market presence and revenue
Pure Platelet-rich Plasma to be Highly Attractive Segment
- In terms of type, the global platelet-rich plasma market has been bifurcated into pure platelet-rich plasma, leukocyte-rich platelet-rich plasma, and pure platelet-rich fibrin.
- Pure platelet-rich plasma, also called leukocyte-poor platelet-rich plasma, is blood plasma that contains only platelets and trace amount of leukocytes.
- Major advantages of pure platelet-rich plasma include ease of application to injuries and ligaments, conventional method of platelet-rich plasma production, rich concentration of platelets, and limited contamination with RBCs.
- Pure platelet-rich plasma accounted for the dominant share of the global platelet-rich plasma market in 2017 due to its widespread use in various applications and rich content of platelets. The segment is likely to continue to dominate the market during the forecast period from 2018 to 2026.
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Autologous Platelet-rich to be Highly Attractive Segment
- In terms of origin, the global platelet-rich plasma market has been classified into autologous platelet-rich plasma, allogeneic platelet-rich plasma, and homologous platelet-rich plasma.
- The autologous platelet-rich plasma segment is likely to dominate the global platelet-rich plasma market during the forecast period due to elimination of cost of clinical analysis for blood-borne diseases and the fees to be paid to blood donors.
Cosmetic Surgery Segment to Expand Significantly
- In terms of application, the global platelet-rich plasma market has been classified orthopedic surgery, cosmetic surgery, general surgery, neurosurgery, and others.
- Cosmetic Surgery segment is expected to grow at a higher CAGR during the forecast period due to rise in the applications of platelet-rich plasma products in hair transplant and other cosmetic applications drive the cosmetic surgery segment of the global platelet-rich plasma market
Asia Pacific to offers High Incremental Opportunity
- The platelet-rich plasma market in Asia Pacific is projected to expand at a significant CAGR of during the forecast period.
- Large number of patients with various rheumatology disorders, rise in number of sport injury cases, presence of emerging economies such as China and India, large geriatric population in Japan, and increase in awareness about the advantages and applications of PRP in various therapeutic areas present significant opportunities for global players in these countries.
- North America is anticipated to dominate the global platelet-rich plasma market owing to high prevalence of orthopedic and rheumatology disorders, increased adoption of PRP therapy in treatment of various disorders, and significant rise in number of plastic and cosmetic surgical procedures in the region
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Competitive Landscape in Global Platelet-rich Plasma Market
The report also provides profiles of leading players operating in the global platelet-rich plasma market. These include Harvest Technologies Corp. (Terumo Corporation), Arthrex, Inc., Zimmer Biomet Holdings, Inc. EmCyte Corporation, Regen Lab SA, Exactech, Inc., and Cesca Therapeutics, Inc., Nuo Therapeutics, Inc., DePuy Synthes (Johnson & Johnson), ISTO Biologics, and AdiStem Ltd
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