- Cosmetic PRP enhances skin contour dramatically. Platelet-rich plasma is becoming increasingly popular in plastic surgery, which is expected to boost market growth.
ALBANY, N.Y., March 10, 2022 (GLOBE NEWSWIRE) -- The global platelet-rich plasma market stood at US$ 815.3 Mn in 2020 and the market is likely to expand at a CAGR of 11.2% during the forecast period, from 2021 to 2031. Platelet-rich plasma (PRP) is created by separating and concentrating plasma from the blood. PRP is injected into injured or damaged tissues, causing healthy cells to develop more quickly, leading in speedier healing of injuries as well as illnesses. Platelet-rich plasma injections provide a higher concentration of tissue growth factors, allowing for speedier repair of bodily tissues.
Over the past two decades, there has been a rise in sports-related injuries. The most frequent sports injuries in softball and baseball players are knee, elbow, and shoulder. Each year, around 3.5 million sports injuries are recorded among young athletes as per a survey by Johns Hopkins Medicine. Platelet-rich plasma is utilized to alleviate pain in ligament, tendon, and joint in a multitude of acute sports injuries. The PRP therapy has also demonstrated to help people heal faster from injuries as well as discomfort, according to research and clinical practice, which is likely to propel the global market.
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A key factor for the global platelet-rich plasma market is the increase in hair loss therapy. Hair loss has been a big source of concern for individuals all over the world. It is not unusual for people to lose their hair prematurely rather than as a result of the natural process of aging. The platelet-rich plasma therapy for hair loss is a very successful and safe approach. Due to its distinctive feature of collagen formation, encouraging tissue repair, and healthy cell creation, PRP therapy is extremely beneficial in the treatment of hair loss.
The platelet-rich plasma market in Asia Pacific is expected to be driven by growing research and advancements in activities to ensure safe and effective use of PRP in countries such as India, Japan, and China.
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Key Findings of Market Report
- Platelet-rich plasma's potential to mend quickly has been demonstrated. In the recent years, the use of platelet-rich plasma for post-surgical repair process has grown in popularity, and it is now one of the most common uses of PRP. Platelet-rich plasma treatment involves injecting concentrated plasma at the surgical incision site to provide the patient with more concentrated healing materials. As a result, the global market is growing due to an increasing focus on post-surgical repairs and growing consumer knowledge regarding the availability of the PRP therapy.
- In 2020, the pure PRP category led the global platelet-rich plasma market in terms of type. This pattern is expected to persist throughout the forecast period. Dominance of the segment can be attributed to its simplicity of use in acute and tendon injuries, traditional manufacturing process, and high concentration of platelets with low RBC contamination. The category is expected to grow as the number of players delivering pure PRF therapy increases.
- In 2020, the autologous category accounted for the bulk of the global platelet-rich plasma market. The category is expected to grow at a considerable CAGR during the projection period. Due to the convenience with which autologous PRP can be obtained from patients' blood, it is widely used. This factor is likely to propel expansion of the autologous category.
- In 2020, the orthopedic surgery segment led the global market in terms of application. The number of operations is increasing as the frequency of orthopedic illnesses rises. PRP is one of the most effective treatments for orthopedic surgery. The global platelet-rich plasma market is expected to benefit from this aspect.
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Global Platelet-rich Plasma Market: Growth Drivers
- Autologous PRP has shown to be effective in treating persistent non-healing ulcers. The need for autologous PRP is likely to rise as a result, particularly in developed nations throughout the world.
- Technological improvements in PRP devices, which have led to the increasing usage of pure PRP in various situations and high platelet concentration, are expected to drive the segment. The global market has also benefited from technological breakthroughs such as smart home diagnostic kits.
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Global Platelet-rich Plasma Market: Key Players
Some of the key market players are
- Assure Tech. (Hangzhou) Co., Ltd.
- F. Hoffmann-La Roche Ltd.
- Becton, Dickinson and Company
- ACON Laboratories, Inc.
- Trinity Biotech plc
- Quidel Corporation
Global Platelet-rich Plasma Market: Segmentation
Type
- Pure PRP
- Leukocyte-rich PRP
- Pure PRF
Origin
- Autologous
- Allogenic
- Homologus
Application
- Orthopedic Surgery
- Cosmetic Surgery
- General Surgery
- Neurosurgery
- Others
Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Industry Research Reports by Transparency Market Research:
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