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Platelet Rich Plasma Market Research 2024-2033 - Size, Trends, Outlook, Overview
Platelet Rich Plasma Market Research
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According to The Business Research Company's, The platelet rich plasma market size has grown rapidly in recent years. It will grow from $0.61 billion in 2023 to $0.71 billion in 2024 at a compound annual growth rate (CAGR) of 17.1%. The growth in the historic period can be attributed to rising demand for minimally invasive procedures, rising prevalence of chronic conditions such as arthritis, growing focus on pain management and injury recovery, increasing adoption of PRP in veterinary medicine, rising disposable income and healthcare expenditure.
The platelet rich plasma market size is expected to see rapid growth in the next few years. It will grow to $1.34 billion in 2028 at a compound annual growth rate (CAGR) of 17.3%. The growth in the forecast period can be attributed to growing prevalence of sports injuries, increasing incidence of orthopedic disorders, rising demand for cosmetic and aesthetic procedures, aging population and related increase in age-related conditions, growing number of clinical trials supporting PRP efficacy. Major trends in the forecast period include technological advancements in platelet-rich plasma processing systems, new recent developments, emergence of new applications of platelet-rich plasma therapy, ongoing research and innovation, increasing investments.
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Market Drivers and Trends:
The rise in the pulp and paper industries is expected to propel the growth of the polyaluminum chloride (PAC) market going forward. The pulp and paper industry is the sector dedicated to manufacturing various paper-based products, such as paper and cardboard, by converting raw materials such as wood pulp or recycled paper fibers into finished goods. The pulp and paper industry is expanding due to rising demand for packaging materials, increased literacy rates driving the need for paper products such as books, and the growth of e-commerce necessitating more shipping boxes. PAC is used as a retention aid in the paper manufacturing process and significantly enhances productivity by improving drainage, facilitating faster water removal, and increasing the overall efficiency of paper formation. For instance, in July 2022, according to the Confederation of European Paper Industries, a Belgium-based non-profit organization representing the European pulp and paper industry, in 2021, there was a 5.8% rise in paper and board consumption, accompanied by a 6.1% increase in production. The operating rate of paper mills hit 90% in 2021, up from 85% in 2020. Therefore, the rise in the pulp and paper industries is driving the growth of the polyaluminum chloride market.
Major companies operating in the platelet-rich plasma market are developing off-the-shelf plasma products to offer a high-quality product at excellent value to meet the growing demand for PRP treatments in the aesthetics sector. An off-the-shelf platelet-rich plasma (PRP) product provides a ready-made solution for therapeutic use, delivering consistent platelet dose and potency without requiring individual preparation. For instance, in July 2023, 4T Medical, a UK-based cosmeceutical and medical aesthetic products company, launched a label platelet-rich plasma (PRP) kit. This CE 2195-registered medical device is designed to prepare autologous PRP, promoting skin rejuvenation and healing efficiently. The kit includes two 10-ml test tubes with sodium citrate anticoagulant and the necessary consumables for blood drawing. After centrifugation, PRP can be easily identified and injected to enhance healing, boost collagen, tighten skin, and stimulate hair growth.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Johnson & Johnson Services Inc., Stryker, Zimmer Biomet, Terumo Corporation, Arthrex Inc., Pall Corporation, Globus Medical, LifeNet Health, Exactech Inc., BioBridge Global, Regen Lab SA, Celling Biosciences Inc., Eclipse Aesthetics LLC, Regenexx, Isto Biologics, Royal Biologics, Apex Biologix, EmCyte Corporation, Medira Ltd., Nuo Therapeutics Inc., Juventix Regenerative Medical LLC., Estar Medical, Dr PRP USA LLC, MDBiologix, Vivostat A/S
Platelet Rich Plasma Market 2024 Key Insights:
• The platelet rich plasma market size is expected to see rapid growth in the next few years. It will grow to $1.34 billion in 2028 at a compound annual growth rate (CAGR) of 17.3%.
• Impact Of Sports Injuries On The Platelet-Rich Plasma Market
• Increasing Focus On Technological Advancements In Platelet Rich Plasma
• North America was the largest region in the platelet-rich plasma market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
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Email: info@tbrc.info
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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