Global Platelet Rich Plasma Market- By Type (Leukocyte Rich Platelet Rich Plasma, Pure Platelet Rich Plasma, and Leukocyte Rich Platelet Rich Fibrin), By Application (Orthopedics, Cosmetic Surgery, Sports Medicine, Dermatology, Neurosurgery, and Other Applications), By Origin (Autologous PRP, Allogeneic PRP, and Homologous PRP), By End-User (Hospitals & Clinics, Research Institutes, and Other End-Users), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032.

Report Overview

In 2022, the Global Platelet Rich Plasma Market was valued at US$ 342 Million. Between 2023 and 2032, this market is estimated to register a CAGR of 10.5%.

Platelet-rich plasma is created with the help of blood. When the human blood is centrifuged, platelet-rich plasma with platelet concentrations above normal values is separated, and the PRP is created. Platelets help in blood clotting and the healing of muscles, ligaments, and tendons. Platelet-rich plasma is experiencing growth due to the rising participation in sporting events, which results in rising cases of sports injuries.

The platelet-rich plasma market was also propelling owing to the increasing research applications. An increase in the use of platelet-rich plasma for the treatment of chronic diseases like cardiovascular & neurovascular diseases, orthopedic diseases, wound management, and general surgery and rising demand for cosmetic surgeries will likely boost the growth of the market.

Other factors, such as the increasing geriatric population, increasing adoption of PRP as an effective treatment, and rise in the occurrence of orthopedic and sports injuries, are estimated to expand the growth of the platelet-rich plasma market.

Global Platelet-Rich Plasma Market Scope

Type Analysis

Pure platelet-rich plasma Held the Highest Share of the Market

The pure platelet-rich plasma segment accounted for the major share of this market of more than 52%, in 2022, owing to its broad use in tissue repair, the healing process, and regeneration. Pure platelet-rich plasma is mainly known for its off-label use due to these manufacturers being interested in the development of various products. PRP offers fewer adverse effects and minimum risks because of the allergic and immune response in the treatment.

All these above-mentioned are estimated to boost the growth of the market. Leukocyte Rich Platelet Rich Fibrin will likely grow significantly due to its rising utility around orthopedic, surgery, and sports injuries. This segment is estimated to grow at the highest CAGR.

Application Analysis

The Orthopedics Segment Dominated the Platelet Rich Plasma Market

The orthopedics segment accounted for the highest revenue share of 27% in 2022. Whereas, during the forecast period, other segments like sports medicine, ulcer healing, and dermatology are estimated to expand at the fastest CAGR. By comparing with the conventional treatments, for effective healing in chronic tendon injuries, PRP has satisfactory results.

In orthopedic therapeutics, PRP is remarkably used due to improved tissue repair, regeneration, and healing. Additionally, it offers soft tissue reconstruction, bone reconstruction, and long-lasting relief, which leads to the growth of the market.

Origin Analysis

The Autologous PRP Segment Accounted for the Largest Revenue Share

Based on origin, the market is categorized into autologous PRP, allogeneic PRP, and homologous PRP. During the forecast period, the autologous platelet-rich segment is estimated to have the largest share of the global platelet-rich plasma market.

End-User Analysis

The Hospitals & Clinics Segment held the Largest Market Share.

The Hospitals & Clinics segment held the highest share of the market owing to the faster growth of PRP-based therapies in the hospitals. Factors such as the high demand for non-surgical management in treatment, increasing hair loss incidences, and the increasing number of new osteoarthritis boost the growth of the market.

Key Market Segments

Based on Type

• Leukocyte Rich Platelet Rich Plasma
• Pure Platelet Rich Plasma
• Leukocyte Rich Platelet Rich Fibrin

Based on Application

• Orthopedics
• Cosmetic Surgery
• Sports Medicine
• Dermatology
• Neurosurgery
• Other Applications

Based on Origin

• Autologous PRP
• Allogeneic PRP
• Homologous PRP

Based on End-User

• Hospitals & Clinics
• Research Institutes
• Other End-Users

Market Dynamics

Drivers

Advancement in Technologies Leads to Drive the Market Growth

Various technological advancements in the market of platelet-rich plasma devices have led to a rise in the use of pure platelet-rich plasma in different situations and high platelet concentrations. The market also benefited due to technological breakthroughs like smart home diagnostic kits that will be estimated to boost the growth of the market.

Increasing Prevalence of Sports Injuries

Shoulder, knee, and elbow injuries are very common sports injuries among baseball and softball players. Sports-related injuries were increased over the past two decades, which has led to the growth of the market for platelet-rich plasma.

Restraints

High Cost of PRP Therapy

The increased cost of PRP therapy hampered the growth of the PRP market during the forecast period. The problems regarding the test results and quality control will likely hinder the growth of the market in the coming years.

Opportunities

The Rising Demand for Plastic Surgeries

Due to the increasing demand for plastic surgeries, the market for PRP was expanding. The PRP has evolved in plastic surgery, and it has promising results. The process includes the utilization of the body’s own natural tissue overhaul process to get improved function and form. Factors such as less or no risk of adverse reactions and ease of use are responsible for increasing the adoption of platelet-rich plasma in treatments.

Trends

Benefits of PRP for Skin-Related Procedures

Platelet-rich plasma has different benefits in improving skin texture and color, lighting wrinkles depth, and skin rejuvenation. Presently, it is proved that topical application of PRP and micro-needling have improved skin tightening and collagen production. It has also grown in treating acne scars and skin pigmentation disorders.

PRP can bind to growth factors and improve the proliferation of human derma papilla cells which leads to the formation of hair follicles in the process of hair transplantation. Hence, PRP has an increasing number of uses which leads to the growth of the market.

COVID-19 Analysis

COVID-19 Caused Significant Impact on the Market during the Pandemic Period.

The presence of the COVID-19 pandemic aided in expanding the market. Plasma therapy comes under an emergency treatment method. During the COVID-19 pandemic, it was used for pain relief; it is one of the major benefits of platelet-rich plasma. But there were some consequences, such as constraints in source allocation, hindrances in patient treatment activities, and disruption in supply chains. However, the market stabilized and continued to recover in terms of supply and demand.

Regional Analysis

North America Dominates the Global Platelet-Rich Plasma Market During the Forecast Period

North America accounted for the largest revenue share of over 42% in 2022. Various factors are responsible for the dominance of NA, such as the presence of key market players, high procurement at end-users like hospitals and clinics, and the presence of a huge amount of manufacturing units interested in developing novel approaches with PRP-based treatments. Also, the market growth is strengthened because the regulatory authorities are supporting and granting approvals. Due to these factors, the market growth is estimated to boost. In Europe, the tremendous revenue share was held by Germany due to reliable research facilities for PRP.

In 2020, for instance, a survey named ‘Working Group for Clinical Tissue Generation’ was examined; it indicated the requirement for platelet-rich plasma preparation, standardization, and its application protocols for indications like knee osteoarthritis. A large number of service providers and manufacturers are present in the region, which will boost the market.

Key Regions and Countries Covered in this Report

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Market Share & Key Players Analysis

Major players are adopting strategies such as new product launches, geographical expansion, mergers & acquisitions, and partnerships in key regions. For instance, EmCyteCo. acquired Cellmedix Holdings LLC, including its Centrepid platelet concentrator system, in February 2020. This improved company’s market presence as well as product portfolio. A few key players in the market are Harvest Technologies Corporation, Medira Ltd., AdiStem Ltd., Exactech Inc., F. Hoffmann-La Roche Ltd., Biomet Holdings Inc., TERUMO BCT, INC., Trinity Biotech plc, and other market players.

Key Industry developments

• In February 2021- Atlas Health Medical Group announced PRP Microneedling facelifts for patients.
• In July 2021- Zimmer Biomet announced its strategic partnership with OSSIS. Zimmer Biomet is a global leader in musculoskeletal healthcare, while OSSIS is a New Zealand-based company that specifies in hip replacement treatments. The aim of the partnership is to market Zimmer Boimet’s patient-specific 3D-printed titanium hip replacement joints in APAC.

Listed below are some of the most prominent global platelet-rich plasma market players.

Market Key Players:

• Johnson & Johnson
• EmCyte Corporation
• Arthrex, Inc.
• Juventix Regenerative Medical, LLC.
• Zimmer Biomet
• Apex Biologix
• Stryker
• Celling Biosciences, Inc.
• Other Key Players.

Report Scope: