Platelet Rich Plasma (PRP) Market Forecasts to 2028 – Global Analysis By Source (Homologous, Autologous), Application (Orthopedic and Spinal Surgery, Neurosurgery), End User, and By Geography

Platelet Rich Plasma (PRP) Market Forecasts to 2028 – Global Analysis By Source (Homologous, Autologous), Application (Orthopedic and Spinal Surgery, Neurosurgery), End User, and By Geography

According to Stratistics MRC, the Global Platelet Rich Plasma (PRP) Market is accounted for $618.74 million in 2022 and is expected to reach $1,343.88 million by 2028 growing at a CAGR of 13.8% during the forecast period. Platelet-rich plasma treatment uses the platelets by loading its concentration in the injection to improve the healing of different body parts. Platelet-rich plasma (PRP) is proven to be a prominent source of autologous products in the field of regenerative medicine and a true precursor for the healing process along with scaffold and stem cells.

Platelet-rich plasma therapy is witnessing a huge rise in its popularity and acceptance for treating arthritis as it inhibits inflammation, lessens the rate of progression of osteoarthritis, and develops the formation of new cartilage. According to the article published in the Lancet Journal in 2020, osteoarthritis affects 7% of the global population, more than 500 million people worldwide, with women disproportionately affected by the condition. The number of people affected globally rise by 48% from 1990 to 2019, and in 2019 osteoarthritis was the 15th highest cause of years lived with disability (YLDs) worldwide.

Market Dynamics:

Driver:

Increasing cosmetics surgery

The increasing incidence of sports injuries, an increase in the number of cosmetic and surgical treatments, and the increased utilization of platelet-rich plasma in various therapeutic sectors are all augmenting the market's rise. The number of treatments performed has expanded over the last five years, and people's demand for minimally invasive cosmetic surgery has grown across the United States. Liposuction and facelifts are becoming increasingly fashionable.

Restraint:

High prices of plasma therapy

A single platelet-rich plasma treatment will normally cost high. Treatments may need to be repeated at times. Platelet plasma therapy treatment costs vary depending on the provider and the number of injections needed. The cost of treatment varies relying upon its location, facilities, and the expertise of the specialist performing it.

Opportunity:

Technological advancements

Technological advancements in platelet-rich plasma devices have prompted an expansion in the utilization of pure platelet-rich plasma in different situations and with high platelet concentrations. The industry has additionally benefited from technological breakthroughs such as smart home diagnostic kits which are likely to provide ample opportunities for the market.

Threat:

FDA approval in end-use cases

Even though the equipment utilized to produce platelet rich plasma and the injections have been cleared by the FDA (Food and Drug Administration), this method is considered investigational and has not been officially approved by the FDA for some purposes. Outside of orthopedic treatment, platelet rich plasma is being utilized for the treatment of hair loss, skin rejuvenation, and post-surgical healing.

The orthopedic and spinal surgery segment is expected to be the largest during the forecast period

The orthopedic and spinal surgery segment is estimated to have a lucrative growth owing to the increasing number of orthopedic surgeries. As platelet rich plasma mimics the body’s natural healing process, companies in the platelet rich plasma market are tapping opportunities in orthopaedics and spinal surgeries.

The pure platelet rich plasma (P-PRP) segment is expected to have the highest CAGR during the forecast period

The pure platelet rich plasma (P-PRP) segment is anticipated to witness the fastest CAGR growth during the forecast period due to the benefits such as accelerated healing process, tissue repair and generation, improvement in overall function, and increased demand across distinct therapeutics industry spaces.

Region with highest share:

North America is projected to hold the largest market share during the forecast period due to the rising awareness about platelet rich plasma treatments, technological advancements, and the increasing number of cosmetics surgeries in the region. Moreover, the presence of supportive regulatory authorities is fuelling the market growth in North America.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period owing to increasing number of cosmetic surgeries to improve facial features in countries, growing medical tourism industry and active involvement of academic and research institutes for evaluating the application of platelet rich plasma therapies.

Key players in the market

Some of the key players profiled in the Platelet Rich Plasma (PRP) Market include Zimmer Biomet Holdings Inc, Vertical Spine LLC, ThermoGenesis Holdings Inc, Arthrex Inc, Stryker Exactech Inc, Regen Lab, ISTO Biologics, Glofinn Oy, EmCyte Corporation, DePuy Synthes Companies, AdiStem Ltd, T-Biotechnology, Dr. PRP USA LLC and Royal Biologics.
Key Developments:

In Sep 2021, Royal Biologics announced FDA 510K approval of their Maxx™- PRP concentration system. Maxx™-PRP is a patented next generation concentration device that can be used to concentrate autologous whole blood, for the safe and rapid preparation of platelet rich plasma to use point of care for mixing with autograft and/or allograft to improve handling characteristics.

In July 2021, Zimmer Biomet Holdings Inc partnered with OSSIS to serve as the exclusive Asia Pacific distributor for its patient-specific 3D printed titanium hip replacement joints. This partnership will allow Zimmer Biomet to provide our extensive network of orthopaedic surgeons with the option of patient-specific implants which are crafted with a combination of clinical and engineering expertise.

Sources Covered:
• Homologous
• Autologous
• Allogeneic

Products Covered:
• Pure Platelet-Rich Fibrin (P-PRF)
• Pure Platelet Rich Plasma (P-PRP)
• Leukocyte-Rich Platelet Rich Fibrin (L-PRF)
• Platelet-Rich Plasma Instruments
• Leukocyte Rich Platelet Rich Plasma (L-PRP)
• Platelet Rich Plasma (PRP) Gel

Growth Factor Molecules Covered:
• Epidermal Growth Factor (EGF)
• Fibroblast Growth Factor-2 (FGF-2)
• Insulin-like Growth Factor (IGF)
• Platelet-Derived Growth Factor (PDGF)
• Vascular Endothelial Growth Factor (VEGF)

Applications Covered:
• Orthopedic and Spinal Surgery
• Sports Medicine
• Dermatology & Cosmetic Surgery
• Cardiac Muscle Injury
• Ophthalmic Surgery
• Neurosurgery
• General Surgery
• Dentistry/Periodontal Surgery
• Aesthetics
• Nerve Injury
• Other Applications

End Users Covered:
• Academic & Research Institutes
• Hospitals
• Physician's office/Private Practice
• Clinics

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances