10 Oct 2018 – Global Platelet Rich Plasma (PRP) Market is estimated to reach USD 647.01 million by 2025 owing to the growing prevalence of orthopedic disorders like knee osteoarthritis, achilles tendinopathy, rotator cuff tears and increasing application of platelet rich plasma in cosmetic surgery. Platelet rich plasma is a common treatment at present in the cosmetic (dermatological) field.
It stimulates fibroblasts in the skin and makes them produce collagen fibers since (PRP) Platelet Rich Plasma is made from the patient’s body, the treatment is considered very safe. It is prepared by separating the blood sample, which separates platelet rich plasma from the platelet poor plasma and the red blood cells due to the differences. It comprises proteins that act as cell adhesive molecules like fibrin, vitronectin, and fibronectin.
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Platelet rich plasma therapy has gained traction due to its wide application with no side-effects. It is also used for treating injured tendons, joints, muscles, and ligaments. PRP therapy also reduces patients’ low back pain and help them recover soon. It is also extensively used in cases of baldness that increases the blood flow and supports in hair growth.
Since, the patient prefer minimally invasive surgeries, the cost of technological use is high. On the other hand, speedy and efficient healing post a surgery remains therapeutic-stage of great importance for the caretakers and PRP has been serving the cause effectively. The prevalence of orthopedic disorders that require surgery, continue to grow along with the trend of cosmetic surgeries in developed regions with a vast geriatric population.
Platelet Rich Plasma industry is predicted to attain new heights across geographies. Leukocyte rich PRP has witnessed higher growth since it stimulates the growth of tissues that help in the treatment of soft tissue flaws of human body. The major driving factors of the market are the growing elderly population, increase in occurrence of sports and orthopedic injuries, the increasing number of cosmetic surgeries, technological advancements and rise in awareness regarding PRP therapies.
However, low quality control of test results restrain the platelet rich plasma market growth. Also the high cost of platelet rich plasma processing kit with lower effectiveness hinders the market. If PRP therapy tends to be economic, the treatment turns out to gain prominence and certainly helps the researchers to conduct several experiments. Moreover, even though the therapy is considered as useful, a few scientific evidences are hampering the growth of the industry. Platelet Rich Plasma industry is categorized on the basis of type, application, origin and geography. On the basis of type, the market is divided into Pure-PRP, Leucocyte Rich PRP, Pure Platelet Rich Fibrin, and Leukocyte-Rich PRF. Pure-PRP segment is expected to remain dominant, but Pure Platelet Rich Fibrin is predicted to exhibit higher CAGR in future.
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In terms of application, platelet rich plasma (PRP) market is segmented as Orthopedics, Cosmetic Surgery and Dermatology, Neurosurgery, General Surgery, Cardiothoracic Surgery, Urology, and Ophthalmology. On the basis of origin, the market is divided into Autologous, Homologous, and Allogeneic.
Geographically, platelet rich plasma (PRP) industry is segmented as North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. North America is projected to hold larger share of the market in coming years due to the high prevalence of orthopedic disorders and sports injuries. Europe is also expected to dominate platelet rich plasma market due to the rising demand for cosmetic surgeries in the forecast period.
The key platelet rich plasma (PRP) industry players profiled here are Arthrex, Inc., Zimmer Biomet, Harvest Technologies Corporation, DePuySynthes, Inc., Stryker Corporation, AdiStem Ltd., ISTO Biologics, Cesca Therapeutics, Inc., Exactech Inc., and Nuo Therapeutics.
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