TMR Analyzes Impact of Outbreak of COVID-19 on Platelet Rich Plasma (PRP) Market

Platelet rich plasma (PRP) is a blood plasma product that contains elevated level of platelets and growth factors (at least four to ten times) than normal blood concentration. PRP is also called as also called platelet enriched plasma and platelet gel. While mostly derived from patient’s own blood, platelet rich plasma is widely used in the treatment of diseases such as orthopedic diseases, neurological diseases, and other minor injuries that require outpatient surgeries. Rising incidence of diseases such as orthopedic diseases, sports injuries, cardiovascular diseases, obesity, and neurological diseases and introduction of various devices for PRP preparation are the key factors that are likely to drive market growth. In addition, growing awareness about PRP therapy and its advantages, and aging population more prone to injuries and surgeries are the other factors that boost market growth. However, high cost of the devices and therapy and threat of treatment failures are some of the factors restricting the market growth to some extent.

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The autologous PRP segment dominated the PRP market in Europe in 2013. The dominance of this market segment was due to increasing demand for allogenic platelet rich plasma products. Thus, the allogenic segment is estimated to grow at the highest growth rate during the forecast period from 2014 to 2022. The growth of this market segment was majorly due to reduced wound healing time and high concentration of growth factors containing platelet rich plasma products. In case of a patient diagnosed with one of the blood disorders (leukemia, hemocytopenia, etc) with less number of platelets in the blood and without any significant clinical action, where allogenic PRP treatment would be recommended.

Orthopedic was the largest application segment in 2013, accounting for 38.3% share of the PRP market in Europe. Large number of orthopedic and sports injuries and rise in geriatric population are the major factors driving the growth of this application segment. PRP products are widely used in cosmetic surgeries to enhance the rate of injury healing, improve facial aesthetics, and facelift treatments. In addition, cost-effectiveness and multiple applications of PRP in cosmetic surgeries are the major factors accelerating the growth of this segment. Therefore, these factors collectively propel the growth of cosmetic surgery application segment and it is estimated to grow at a highest rate during the forecast period from 2014 to 2022.

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Geographically, the Europe platelet rich plasma market has been segmented as U.K., Germany, Italy, France, Spain and Rest of Europe. In 2013, U.K. dominated the Europe PRP market primarily due to increasing prevalence of orthopedic and reconstructive procedures and growing number of bariatric surgeries. Thus, PRP therapy is gaining wider acceptability as it provides effective treatment and faster recovery. For instance, tennis elbow affects around 300,000 people in the U.K. every year, where PRP is the most preferred treatment option. Moreover, growing preference for PRP therapy for sports injuries would boost market growth in the U.K.

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The Europe PRP market is highly fragmented with the presence of a large number of small and large multinational players. Companies such as Arthrex, Inc., Biomet, Inc., and EmCyte Corporation dominated the Europe PRP market in 2013. Other minor players present in the Europe PRP market include AdiStem Ltd., Glofinn Oy, Medira Ltd., and Regen Lab SA.