by The global Platelet Rich Plasma Market is estimated to be valued at US$ 2.28 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Platelet rich plasma is derived from the whole blood through a process called centrifugation. It contains a higher concentration of platelets than normal blood and releases various growth factors that enhance tissue healing when injected into injuries. It is used in various applications such as orthopedic surgery, cosmetic surgery and dermatology.
Market key trends:
One of the key trends in the platelet rich plasma market is increasing adoption of leukocyte-rich platelet rich plasma (L-PRP). L-PRP is derived from whole blood containing a higher concentration of not only platelets but also leukocytes. The presence of leukocytes aid in modulation of the immune system and increases wound healing. L-PRP finds wide application in sports medicine, orthopedic surgery and dermatology for treatment of joint pain, hair loss and skin rejuvenation. It provides faster recovery and has fewer side effects than traditional surgical treatments. Rise in sports injuries and awareness about advantages of L-PRP over traditional methods are fueling the growth of this segment of the platelet rich plasma market.
Segment Analysis
The global platelet rich plasma market can be segmented by type, application, and end user. By type, the pure platelet-rich plasma segment dominated the market with a market share of over 50% in 2023. Pure PRP does not contain leukocytes and has lower concentrations of growth factors than leukocyte-rich PRP. However, it is preferred for injuries and musculoskeletal disorders due to lower inflammatory effects.
Key Takeaways
The global platelet rich plasma market is expected to witness high growth, exhibiting CAGR of 12% over the forecast period, due to increasing prevalence of musculoskeletal disorders and sports injuries.
Regional analysis
North America dominated the global platelet rich plasma market in 2023 with over 40% market share. Higher awareness about platelet rich plasma therapy and strong presence of key market players in the region propels the adoption of PRP in this region. Asia Pacific is expected to witness the highest growth rate during the forecast period owing to rising geriatric population, increasing healthcare expenditure, and growing medical tourism.
Key players
Key players operating in the platelet rich plasma market are Arthrex, Inc., Stryker Corporation, Johnson and Johnsons Ltd., Zimmer Biomet Holdings Inc., Terumo Corporation, Glofinn Oy, Medira Ltd., Regen Lab S.A., CollPlant, Generex Biotechnology Corporation, Estar Technologies Ltd., Dr. PRP America, Cesca Therapeutics, Inc., Arteriocyte Medical Systems, Harvest Technologies Corp. Arthrex dominated the market with over 15% market share in 2023 owing to its strong product portfolio and global presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
