Platelet Rich Plasma Market By Type (Pure PRP, Leukocyte Rich PRP, Others) , By Application (Orthopedics, Sports Medicine, Cosmetic Surgery, Dermatology, Ophthalmic Surgery, Neurosurgery, General Surgery, Others) By End user (Hospitals, Clinics, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2033
Platelet Rich Plasma Market
The platelet rich plasma market was valued at $0.7 billion in 2023 and is projected to reach $3.0 billion by 2033, growing at a CAGR of 15.3% from 2024 to 2033.
Platelet rich plasma (PRP) is a protein concentrate derived by the centrifugation of blood and consists of hemocytes that facilitate blood clotting. PRP functions as a regenerative medicine and is utilized to heal injuries & damaged tissues. The injection of PRP into a certain body part amplifies the platelet count to five times as compared to the rest of the body. Some of the active applications of PRP include hair growth, tissue healing, inflammation reduction, and orthopedics.
Increase in the popularity of cosmetic procedures such as hair regeneration and facial treatments is a key driver of the platelet rich plasma market. In addition, rise in awareness regarding the benefits of PRP has enhanced R&D to explore its capabilities, augmenting the development of the market. With upsurging demand for personalized medicine, its integration with PRP therapy is anticipated to be a prominent trend in the coming years. The tailored approach of personalized medicine, along with the robust healing property of PRP is expected to accelerate the recovery process and improve patient outcomes.
However, high costs of PRP injections deter budget-sensitive patients from undergoing plasma-based therapies, hindering the growth of the market. Furthermore, lack of standardization in the preparation of PRP leads to variability in its effectiveness, resulting in distrust among patients & doctors and hampering the development of the platelet rich plasma market. Despite the lack of standardization, the validated efficiency of PRP in hair regeneration has presented lucrative opportunities for the platelet rich plasma market. According to Seattle Plastic Surgery Centre, the average success rate of PRP injections for hair regeneration lies between 70-90% among different patients. Therefore, as the prevalence of hair loss and thinning continues to increase, the platelet rich plasma market is projected to witness new avenues in the future.
Segment ReviewThe platelet rich plasma market is segmented into type, application, end user, and region. On the basis of type, the market is divided into pure PRP, leukocyte rich PRP, and others. Depending on application, it is classified into orthopedics, sports medicine, cosmetic surgery, dermatology, ophthalmic surgery, neurosurgery, general surgery, and others. By end user, it is categorized into hospitals, clinics, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsOn the basis of type, the pure PRP segment held a high share of the market in 2023.
Depending on application, the orthopedics segment dominated the market in 2023.
By end user, the hospitals segment acquired a high stake in the market in 2023.Region wise, North America was the highest revenue generator in 2023.
Competition AnalysisThe major players in the global platelet rich plasma market include Johnson & Johnson Inc., Arthrex, Inc., EmCyte Corporation, Dr PRP USA LLC, Juventix Regenerative Medical, Terumo Corporation, Zimmer Biomet Holdings, Inc., Stryker Corporation, Apex Biologix, and Celling Biosciences, Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.
Key Market SegmentsBy TypePure PRP
Leukocyte Rich PRP
Others
By ApplicationOrthopedics
Sports Medicine
Cosmetic Surgery
Dermatology
Ophthalmic Surgery
Neurosurgery
General Surgery
Others
By End UserHospitals
Clinics
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market PlayersJohnson & Johnson Inc
Arthrex, Inc.
EmCyte Corporation
Dr PRP USA LLC
Juventix Regenerative Medical
Terumo Corporation
Zimmer Biomet Holdings, Inc.
Stryker Corporation.
Apex Biologix
Celling Biosciences, Inc