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United States Platelet-Rich Plasma Market Report 2023-2028 | Industry Overview Size, Share, Trends, Growth Analysis, Forecast
United States Platelet-Rich Plasma Market
The United States platelet rich plasma market size reached US$ 226.7 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 403.9 Million by 2028, exhibiting a growth rate (CAGR) of 10% during 2023-2028.
What is Platelet-Rich Plasma?
Platelet-rich plasma (PRP) is a concentrated plasma protein acquired from a small number of red blood cells (RBC). The platelet is suspended in a small amount of plasma after centrifugation and facilitates healing when injected into the body. PRP therapy uses injections to the concentrated platelets of the patients to accelerate the healing of injured tendons, muscles, joints, and ligaments. Some commonly known platelet-rich plasma variants include leukocyte- and platelet-rich plasma (LPRP), leukocyte- and platelet-rich Fibrin (L-PRF), pure platelet-rich plasma (P-PRP), and pure platelet-rich fibrin (P-PRF). They are used in non-invasive therapies to stimulate healing for long-lasting ligament and muscle fibers rejuvenation. In addition, they assist in accelerated healing, minimizing inflammation and swelling, stabilization of soft tissue or bone, reducing bleeding and brushing, and helping hair growth. Owing to these benefits, platelet-rich plasma (PRP) is widely adopted in neurosurgery, orthopedics, general and cardiothoracic surgery, urology, ophthalmology, cosmetic surgery, and dermatology sectors across the United States.
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United States Platelet-Rich Plasma Market Trends and Drivers:
The market is primarily driven by the growing incidences of chronic tendon injuries in vital organs. In addition, the escalating demand for PRP therapies for treating muscle and acute ligament tearing, fractures, orthopedic impairments, and fractures are contributing to the market growth. Additionally, the increasing awareness regarding the benefits of PRP treatment, such as inducing natural lubrication fluid production and encouraging new cartilage formulation, is also accelerating the product adoption rate. Moreover, the widespread adoption of PRP-based therapies to treat common injuries in athletes, such as rotator cuff injuries, lumbar spine disc pain, shoulder pain and instability, and tennis/golfer's elbow, represents another major growth-inducing factor. In line with this, the rising demand for PRP in dental and oral surgical procedures, including managing bisphosphonate-related osteonecrosis of the jaw to improve wound healing is influencing the market growth. Besides this, the significant expansion in the cosmetic surgery industry and the rising use of PRP-based procedures to enhance facial shape and volume is propelling the market growth. Along with this, the platelet-rich plasma market is growing at different rates in numerous regions, with North America being one of the largest platelet-rich plasma markets due to the rising prevalence of orthopedic surgeries, an increase in sports injuries, and the increasing demand for cosmetic surgeries. Moreover, the industry is fragmented and is expected to face competition in the forthcoming years as various key players are implementing competitive strategies to sustain their presence in the market. For instance, in September 2016, Alliance Partners, LLC gained 510(k) clearance from the U.S. Food and Drug Administration for the Cyclone Platelet Rich Plasma (PRP) Concentrating System. Moreover, in February 2020, EmCyte corporation obtained 510(k) from the FDA for their Pure PRP Supraphysiologic Concentration System designed to produce platelet-rich plasma from a small blood sample at the point of care (POC). Furthermore, rising healthcare expenditures, escalating demand for medical procedures, research and development (R&D) activities, and mergers and acquisitions among leading market players are creating a positive market outlook. For instance, in February 2020, EmCyte announced the acquisition of Cellmedix Holdings LLC, comprising all the assets of the US-based company, including its Centrepid Platelet Concentrator, a proprietary product system.
United States Platelet-Rich Plasma Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: Arteriocyte Medical Systems Inc. (Isto Technologies II LLC), Arthrex Inc., Depuy Synthes, Inc. (Johnson & Johnson), Dr Prp USA LLC, EmCyte Corporation, Exactech Inc., Glofinn America LLC (Glofinn Co. Ltd.), Regen Lab USA LLC, Stryker Corporation, Terumo BCT Inc. (Terumo Corporation), ThermoGenesis Holdings Inc. and Zimmer Biomet Holdings Inc.
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The report segmented the market on the basis of region, product type, origin, application and end user.
Breakup by Product Type:
• Pure Platelet-Rich Plasma (P-PRP)
• Leukocyte- and Platelet-Rich Plasma (LPRP)
• Leukocyte- and Platelet-Rich Fibrin (L-PRF)
• Pure Platelet-Rich Fibrin (P-PRF)
Breakup by Origin:
• Autologous PRP
• Homologous PRP
• Allogeneic PRP
Breakup by Application:
• Orthopedics
• Cosmetic Surgery and Dermatology
• Neurosurgery
• General Surgery
• Cardiothoracic Surgery
• Urology
• Ophthalmology
• Others
Breakup by End User:
• Hospitals and Clinics
• Research Institutes
• Others
Breakup by Region:
• Northeast
• Midwest
• South
• West
Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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Contact Us:
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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