Platelet Rich Plasma Market to be Worth $1.94 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, Sept. 20, 2022 /PRNewswire/ -- The global platelet rich plasma market size is expected to reach USD 1.94 billion by 2030, registering a CAGR of 15.11% from 2022 to 2030, according to a new report by Grand View Research, Inc. Rising number of cosmetic surgeries, increasing national and international sporting events, and extending research in plasma-based therapies are fueling the industry growth. Furthermore, R&D activities and regulatory approvals of platelet rich plasma (PRP) based treatments are key market drivers.

Key Industry Insights & Findings from the report:

• By type, the pure platelet-rich plasma segment held the largest revenue share of over 50.0% in 2021 due to its widespread use across various therapeutic areas and rising demand for its off-label uses worldwide.
• By application, the orthopedics segment dominated the market in 2021 due to an upsurge in the number of research studies to investigate PRP across various applications in orthopedics. However, other segments such as dermatology, sports medicine, and ulcer healing are expected to grow at a faster rate over the forecast period.
• The hospitals end-use segment held the largest revenue share in 2021. This can be attributed to an increase in the number of hospitals delivering PRP-based therapies and rising number of knee osteoarthritis cases in recent years.
• North America dominated the global market in 2021 due to wider applications of RPP, rising awareness about PRP-based treatments, and increasing number of orthopedics incidences.
• Asia Pacific is expected to grow considerably in the future owing to rising number of cosmetic surgeries and growing medical tourism industry.

Read 150 page full market research report, "Platelet Rich Plasma Market Size, Share & Trends Analysis Report By Type (Pure Platelet Rich Plasma, Leukocyte Rich), By Application (Orthopedics, Sports Medicine, Cosmetic Surgery), By End-use, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Platelet Rich Plasma Market Growth & Trends

Currently, there has been an upsurge in demand for use of PRP in the treatment of sports injuries, orthopedic disorders, and musculoskeletal conditions. It concentrates on growth factors and can significantly reduce healing time. PRP also finds major application in the regenerative medicine field and serves as a custom product for each patient speeding up wound healing and repair cascade.

Platelet rich plasma has evolved in plastic surgery with promising results to utilize the body's own natural tissue repair process to achieve improved form and function. The characteristics such as ease of use, inexpensive to produce utilizing patient's cells, and little or no risk of adverse reactions are the main advantages offered by PRP therapies. However, treatment has been time consuming and requires multiple sessions. Moreover, it helps in skin rejuvenation, skin pigmentation, treating acne scars, and skin tightening during vampire facials. PRP is used as a supplement for hair transplant, which helps in the formation and maintenance of hair follicles. Thus, the widespread uses of platelet rich plasma are anticipated to fuel industry growth.

Furthermore, the key players are implementing strategic initiatives such as mergers and acquisitions, product development, and business expansions to enter the market. In September 2021, Terumo BCT expanded its presence in Costa Rica with the opening of a new manufacturing facility in La Lima, Cartago, with the view to expand its customer base in the U.S. In February 2020, EmCyte Co. acquired Cellmedix Holdings LLC, with its Centrepid platelet concentrator system. This expanded the company's product portfolio and improved its market presence.

In light of COVID-19, the market witnessed a significant setback due to supply chain disruption, constraints in resource allocation, and hindrances in patient access activities, among other reasons. However, by January 2021, the market got stabilized and continue to normalize demand and supply, and users and patients regain access to platelet-rich plasma.

Platelet Rich Plasma Market Segmentation

Grand View Research has segmented the global platelet rich plasma market based on type, application, end-use, and region:

PRP Type Outlook (Revenue, USD Million, 2018 - 2030)

• Pure Platelet Rich Plasma
• Leukocyte Rich Platelet Rich Plasma
• Others

PRP Application Outlook (Revenue, USD Million, 2018 - 2030)

• Orthopedics
• Sports Medicine
• Cosmetic Surgery
• Dermatology
• Ulcer Healing
• Venous Ulcers
• Pyoderma Gangrenous Ulcers
• Traumatic Ulcers
• Diabetic Ulcers
• Trophic Ulcers
• Vasculitic Ulcers
• Others
• Others
• Ophthalmic Surgery
• Neurosurgery
• General Surgery
• Others

PRP End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals
• Clinics
• Others

PRP Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Asia Pacific
• Japan
• China
• India
• Australia
• South Korea
• Latin America
• Brazil
• Mexico
• Middle East and Africa (MEA)
• South Africa
• Saudi Arabia
• UAE

List of Key Players of Platelet Rich Plasma Market

• Johnson & Johnson
• Arthrex, Inc.
• EmCyte Corporation
• DR. PRP AMERICA, LLC
• Juventix
• Terumo Corporation
• Zimmer Biomet
• Stryker
• Apex Biologix
• Celling Biosciences

Check out more related studies published by Grand View Research:

• Cold Plasma Market - The global cold plasma market size is expected to reach USD 198.50 million by 2026 at a strong CAGR of 15.2%, according to a new report by Grand View Research, Inc. Increasing use of cold plasma in medical treatment and rising cases of Hospital-Acquired Infections (HAI) are the key driving factors for the global market. In healthcare industry, plasma technology has been in use for some time and it continues to help improve various treatments. One of the major properties of cold plasma is the ability to kill bacteria and prevent infection. Therefore, it acts as an effective healing solution. It also accelerates healing process and prevent patient from discomfort.
• Plasma Protein Therapeutic Market - The global plasma protein therapeutics market size is expected to reach USD 33.15 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 4.8% over the forecast period. The growth can be attributed to high prevalence of bleeding and other rare disorders, rising investment in R&D, and increasing use of plasma-derived products in neurology and other therapeutic indications.
• Peptide Antibiotics Market - The global peptide antibiotics market size is expected to reach USD 6.6 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.6% from 2022 to 2030. The market is expected to witness growth opportunities owing to factors such as the increasing research and development activities in field of peptide antibiotics coupled with high number of drug approvals. Moreover, surge in cases of antimicrobial resistance cases and possibility of side effects from the conventional antibiotics are also expected to drive the market during the forecast period.

Browse through Grand View Research's  Pharmaceuticals Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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