Press release
PRP and PRF in Cosmetics Market Boosting the Healthcare Industry Worldwide
PRP and PRF in Cosmetics Market Outlook 2031• The global PRP and PRF in cosmetics market was valued at US$ 150 Mn in 2021
• The market is projected to advance at a CAGR of 12.6% from 2022 to 2031
• The global PRP and PRF in cosmetics market is anticipated to exceed US$ 483 Mn by 2031
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Analysts' Viewpoint on Global PRP and PRF in Cosmetics Market Scenario
Increase in interest for personal grooming among the young generation has been driving the PRP and PRF in cosmetics market in various emerging economies. Companies are considering capacity expansions in anticipation of rapidly increasing demand for different types of cosmetic applications such as PRF for facial rejuvenation. Demand for PRP & PRF facial therapy is expected to rise at a fast pace during the forecast period. The spending capacity of the people has been increasing post the peak of the COVID-19 pandemic; therefore, companies operating in the market are capitalizing on this opportunity to increase the awareness about the benefits of PRP and PRF in clinics to encourage their adoption.
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Overview of PRP and PRF in Cosmetics Market
Rise in number of cosmetic surgical procedures, surge in awareness about PRP and PRF therapies, and increase in applications of PRP & PRF in cosmetics are propelling the global market. Developed economies such as the U.S. and countries in Europe accounted for substantial share of the global PRP and PRF in cosmetics market in 2021. However, high cost of products and possibility of complications in cosmetic surgeries are expected to restrain the global PRP and PRF in cosmetics market. Nevertheless, the platelet-rich plasma (PRP) treatment shows improvement in volume, tone, and texture of the skin. It also reduces the appearance of wrinkles. Hence, PRP therapy is becoming quite popular in skin treatment. Thus, demand for PRP and PRF in cosmetics is likely to increase during the forecast period.
Over the last few years, small and large biopharmaceutical companies have become increasingly reliant on contract research organizations (CROs) and other clinical service specialists to provide research services for their R&D operations. Changing lifestyles of the people in developing regions, increase in per capita income, and rise in awareness about beautification contribute to the growth of the global PRP and PRF in cosmetics market. Outsourcing of stem cell trials is also expected to drive the market by the end of the forecast period.
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Surge in Awareness about Benefits of PRP Therapy to Drive Global Market
PRP was first used in cardiac surgery in 1987. Awareness about the advantages and applications of PRP was limited to research laboratories. Currently, value-added advantages and applications of PRP therapy over conventional wound healing & disease treatments, such as surgery and medicines, have resulted in higher demand for PRP products globally. This is offsetting the limitations of PRP and PRF in cosmetics.
PRP therapy is used in cosmetics to reduce wrinkles, plump up the sagging skin, get rid of deep creases, improve complexion, and diminish acne scars. The middle-aged and elderly population is increasingly opting for plastic surgeries to look esthetically appealing and young. Thus, rise in awareness about these surgeries among the population is projected to boost the market during the forecast period.
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Increase in awareness has also been driving the demand for platelet rich plasma therapy since the last few years in emerging economies such as China, India, Brazil, and Russia as well as in developed regions including North America and Europe. Global players such as Cesca, Harvest, Arthrex, and Biomet are strengthening their existing distribution networks in these regions in order to increase their market presence.
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