Platelet Rich Plasma Global Market Report 2024

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 historic period saw growth driven by factors such as increasing demand for minimally invasive procedures, a rise in chronic conditions such as arthritis, heightened attention to pain management and injury recovery, expanded usage of PRP in veterinary medicine, and increased disposable income and healthcare spending.

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%. In the forecast period, growth is expected to stem from several factors, including the rising prevalence of sports injuries, a higher incidence of orthopedic disorders, increased demand for cosmetic and aesthetic procedures, an aging population leading to more age-related conditions, and a growing body of clinical trials supporting the effectiveness of PRP. Major trends anticipated during this time include technological advancements in PRP processing systems, recent developments, the discovery of new applications for PRP therapy, ongoing research and innovation, and increased investments in this field.

The increasing incidence of sports injuries is expected to drive the growth of the platelet-rich plasma (PRP) market in the coming years. The rise in sports injuries can be attributed to factors such as increased participation in sports, higher enrollment in youth sports programs, age-related issues, and inadequate coaching and supervision. PRP therapy plays a significant role in aiding sports injury recovery by promoting tissue repair and regeneration, reducing inflammation, and accelerating the healing process of tendons and ligaments. This therapy offers athletes a minimally invasive treatment option with the potential for faster recovery times. For instance, data from the National Safety Council shows that in 2021, there were 3,231,885 sports and recreational equipment injuries, which increased to 3,631,970, highlighting the growing prevalence of sports injuries and the resulting demand for PRP therapy.

Leading companies in the PRP market are focusing on developing off-the-shelf plasma products to meet the increasing demand for PRP treatments, particularly in the aesthetics sector. Off-the-shelf PRP products provide a convenient solution for therapeutic use, offering consistent platelet dose and potency without the need for individual preparation. For example, 4T Medical launched a labeled PRP kit in July 2023, designed to prepare autologous PRP for promoting skin rejuvenation and efficient healing. The kit includes anticoagulant test tubes and necessary consumables for blood drawing, facilitating the identification and injection of PRP to enhance healing, collagen production, skin tightening, and hair growth.

In March 2023, Kedaara Capital acquired a majority stake in Oliva Skin & Hair Clinic, aiming to support Oliva's growth in becoming India's leading aesthetic dermatology player with a pan-India reach. Oliva Skin & Hair Clinic provides PRP hair treatment solutions, aligning with the growing demand for PRP therapies in the aesthetics and dermatology sectors.

Major companies operating in the platelet rich plasma market are 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.

North America was the largest region in the platelet-rich plasma market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the platelet rich plasma market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the platelet rich plasma market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Platelet-rich plasma (PRP) is a concentrated form of plasma that contains platelets, growth factors, and bioactive proteins. It is obtained from the patient's own blood through centrifugation, which separates the platelets from other blood components. PRP finds use in medical and cosmetic treatments because of its healing and tissue regeneration properties.

The primary variations of platelet-rich plasma include pure platelet-rich plasma, leukocyte-rich platelet-rich plasma, leukocyte-rich fibrin, among others. Pure platelet-rich plasma denotes a concentrated solution of platelets and plasma, devoid of red and white blood cells, thus ensuring heightened platelet-derived growth factors. It can be sourced from allogeneic, autologous, or homologous platelet-rich plasma for applications in cosmetic surgery, aesthetics, general surgery, neurosurgery, orthopedic and spinal surgery, and other medical uses, utilized by hospitals, clinics, research institutes, and other end-users.

The platelet rich plasma market research report is one of a series of new reports that provides platelet rich plasma market statistics, including the platelet rich plasma industry global market size, regional shares, competitors with platelet rich plasma market share, detailed platelet rich plasma market segments, market trends, and opportunities, and any further data you may need to thrive in the platelet rich plasma industry. These platelet rich plasma market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The platelet-rich plasma market includes revenues earned by entities by providing PRP hair restoration, skin rejuvenation, acne scar treatment, orthopedic treatments, post-surgical healing. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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