A recent report published by Infinium Global Research on platelet rich plasma market provides an in-depth analysis of segments and sub-segments in the global as well as regional platelet rich plasma market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional platelet rich plasma market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global platelet rich plasma market. According to the report, the global platelet rich plasma market is projected to grow at a CAGR of 55.11% over the forecast period of 2020-2027.
Platelet-rich plasma market was valued at USD 135.7 million in 2021 and expected to reach USD 1889 million in 2027, with a CAGR of 55.11% during the forecast period. Platelet-rich plasma (PRP) has developed as a treatment alternative for several musculoskeletal conditions. Platelet-rich plasma is plasma with more platelets than what is typically found in the blood. To develop a platelet-rich plasma preparation, blood must first be drawn from a patient. The platelets are separated from other blood cells and their concentration is increased during a process called centrifugation, after that the increased concentration of platelets is combined with remaining blood. Platelet-rich plasma has a strong effect in the early phase of healing. Furthermore, platelet-rich plasma is utilized for injuries such as ligament and tendon. It is also used for knee osteoarthritis, degenerative knee cartilage and chronic elbow necessities, muscle strain, and tears.
The increasing chronic disease population, increasing number of patients suffering from orthopedic injuries, rising number of cosmetic surgeries, and increasing awareness about benefits associated with platelet-rich plasma are key factors driving the growth of this market over the forecast period. Chronic diseases are among the widespread, expensive, and avoidable ailments impacting population health worldwide. Chronic conditions such as diabetes, hypertension, and opioid addiction claim thousands of lives and billions of dollars each year. Furthermore, worldwide traumatic injuries pose a significant and increasing challenge to healthcare systems. Traumatic injuries are one of the main causes of mortality in the world. However, the high cost associated with medical devices used for treatment and threats associated with PRP therapy is the key restraining factors affecting the growth of the global platelet-rich plasma market. Nevertheless, the rising geriatric population in the world and the development of new applications of PRP technologies are anticipated to provide more opportunities to this market for major players and new entrants. The global market will witness considerable growth in 2020, in the unpredicted COVID-19 outbreak, as there will be continuous growth in the implementation of platelet-rich plasma in the treatment of coronavirus, which will significantly drive the market growth. Platelets play a fundamental role in respiratory disorders resulting from viral infections, being the first line of defense against viruses and essential in maintaining lung function.
Among the regions, North America holds the largest market share of the platelet-rich plasma market. The large share of the North American region attributes to the increased awareness about platelet-rich plasma treatments, technological advancements, and the rising number of cosmetics surgeries in the region. In the United States, platelet-rich plasma has emerged as a popular biologic treatment for musculoskeletal injuries and conditions. Asia Pacific is anticipated to witness the highest CAGR due to the rising number of cosmetic surgeries to improve facial features in countries such as Korea, India, and Thailand.
The report on global platelet rich plasma market covers segments such as type, source type, and application. On the basis of type, the sub-markets include pure platelet-rich plasma, leukocyte platelet-rich plasma, and pure platelet-rich fibrin. On the basis of source type, the sub-markets include autologous, homologous, and allogenic. On the basis of application, the sub-markets include orthopedic surgery, cosmetic surgery, general surgery, neurosurgery, and others.
The report provides profiles of the companies in the market such as Harvest Technologies Corporation, Arthrex, Inc., Zimmer Biomet, Depuy Synthes, Inc, Stryker Corporation, Adistem Ltd., Cesca Therapeutics, Inc., Emcyte Corporation, Estar Technologies Ltd., and Eclipse Aesthetics, Llc..
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of platelet rich plasma market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.