Platelet Rich Plasma Market Size Projected to Rise Lucratively during 2029

Platelet-rich plasma has many uses in the healthcare industry, especially in orthopedic surgeries and cosmetic surgeries. Injuries like rotator cuff, tendon injuries, tennis elbow and hamstring among others are healed quickly and effectively with the help of platelet-rich plasma therapy. Besides, a number of sports injuries are also healed by using platelet-rich plasma therapy. Treatment of medical conditions such as erectile dysfunction and facelift surgeries are some of new application areas for platelet-rich plasma therapy. Platelet-rich plasma is a product derived from blood plasma, consisting of enriched platelets, along with several other growth factors, that assist the quick healing of bone and other soft tissues. Due to the several application areas where platelet-rich plasma therapy can be used, it is being adopted widely all across the medical world, especially in cosmetic surgeries. However, the high cost of the medical devices associated with platelet-rich plasma therapy may act as a restraint to the growth of this market.

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Platelet-rich plasma is a type of blood plasma product in which the concentration of platelets is much higher, more than four to eight times higher than the normal concentration of blood platelets. Platelet-rich plasma is also known as platelet enriched plasma, platelet-rich gel and platelet enriched gels. It is used in the quick and effective treatment of many medical conditions such as orthopedic diseases, neurological diseases, sports injuries and cardiothoracic diseases. Additionally, platelet-rich plasma has vast applications in the field of cosmetic surgery.

This Fact.MR report on the global platelet-rich plasma market forecasts that the global platelet-rich plasma market will touch a value of nearly US$ 391 Mn in the year 2022 and grow at a robust CAGR during the assessment period, 2017-2022.

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North America Set to Dominate Global Platelet-rich Plasma Market

The market in North America is set to dominate the global platelet-rich plasma market in terms of value and this trend is projected to sustain itself throughout the assessment period. North America’s platelet-rich plasma market is expected to remain the most attractive region, growing at a robust CAGR over the assessment period.

PRP Therapy Instruments Poised to Touch Nearly US$ 86 Mn Value by 2022-end

As per the forecast of Fact.MR, the instruments segment is expected to reach a value of nearly US$ 86 Mn in the year 2022. This represents a robust CAGR during the forecast period of 2017-2022. Instruments segment is expected to account for more than one-fourth of the revenue share of the global market by the year 2017, but, is also expected to lose market share by the end of the year 2022.

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Hospitals – Key End-users of Platelet-rich Plasma

As per the forecast of Fact.MR, the hospitals end user segment is slated to touch a figure of nearly US$ 184 Mn in the year 2022. This represents a CAGR of 10.0% during the assessment period from 2017 till the year 2022. This segment is expected to lose market share by the end of the year 2022. The hospitals end user segment is expected to account for nearly half of the revenue share of the end user segment by the year 2017.

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Competition Tracking

The report also profiles companies that are expected to remain active in the expansion of global platelet-rich plasma market through 2022, which include Arthrex, Inc., Johnson & Johnson, Zimmer Biomet Holdings, Inc., Exactech, Inc., Stryker Corporation, Terumo Medical Corporation, Biotest Aktiengesellschaft and CSL Limited.

Note: The insights mentioned here are of the respective analysts, and do not reflect the position of Fact.MR

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