Platelet Rich Plasma Market Size, Share & Trends Report

Platelet Rich Plasma Market Size, Share & Trends Analysis Report By Type, By Application (Orthopedics, Sports Medicine, Cosmetic Surgery), By End-use (Hospitals, Clinics), By Region, And Segment Forecasts, 2020 - 2027

  • Published Date: Dec, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-1-68038-869-5
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 147

Report Overview

The global platelet rich plasma market size was estimated at USD 414.8 million in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 12.1% from 2020 to 2027. A rise in the incidence of orthopedic disorders and sports injuries is expected to drive the market at a significant rate.

Mexico platelet rich plasma market size, by type, 2016 - 2027 (USD Million)

The application of platelet rich plasma (PRP) therapy in the treatment of musculoskeletal conditions, orthopedic disorders, and sports injuries has become more prevalent over recent years. Several research studies have observed that the increased concentration of growth factors in PRP has the ability to potentially accelerate the healing process. Platelet rich plasma is proven to be a major source of autologous products in the field of regenerative medicine and a true precursor for the healing process along with stem cells and scaffold.

According to the data by the U.S. Centers for Disease Control (CDC), the participation of individuals in sports in the U.S. is continuously rising. Around 30.0 million children and adolescents of the U.S. participate in sports. This increases the risk of sports injuries among young athletes. In the U.S., athletes from high school account for around 2 million injuries, 30,000 hospitalizations, and 500,000 doctor visits. More than 3.5 million children under the age of 14 are provided with medical treatment for sports injuries every year.

In recent years, platelet rich plasma is extensively applied in clinical settings. It has gained significant traction in the field of cosmetic surgery. Plastic surgeons and dermatologists are utilizing the natural healing properties of the platelets to enhance the appearance and overall health of the skin. Several research studies have evaluated the application of PRP for facial rejuvenation. The studies have reported positive aesthetic results from the application of PRP injection or when combined with fat grafting. These treatments have shown improvement in the volume, tone, and texture of the skin and reduce the appearance of wrinkles.

The applications of platelet rich plasma in dental and oral surgical procedures have yielded promising results. The utility of platelet rich plasma has been recommended for managing bisphosphonate-related osteonecrosis of the jaw to enhance wound healing and bone maturation. In addition, the use of PRP protocols in the alveolar socket next to tooth extractions have proven to accelerate soft tissue healing, further influencing bone regeneration processes.

Platelet rich plasma has also shown better outcomes in periodontal therapy when used in association with other materials. Promising results have also been reported when PRP products are used alone as a coating material in implant surgeries. The combination of PRP application with necrotic bone curettage has shown encouraging results in the treatment of refractory bisphosphonate-related osteonecrosis of the jaw because this combination provides successful outcomes with minimally invasive surgeries.

Type Insights

Pure platelet rich plasma dominated the market and accounted for the largest revenue share of 53.0% in 2019. High adoption of the type as a result of the advantages offered and expanding applications across various therapeutic areas drive the segment. In addition, an increasing number of service providers is expected to boost segment growth. However, platelet rich plasma as therapy has not yet received clear approval from the U.S. FDA, but it has been approved for off-label use in the market.

Legally, since PRP has significant potential in treating various chronic conditions, its current off-label use has encouraged several manufacturers across the globe to develop different types of products. The estimated clinical advantages associated with PRP can help increase the scope of commercializing products associated with pure, leukocyte-rich, and leukocyte-rich fibrin platelet rich plasma. The products classified under these present different mechanisms and biological signatures as well as differences for clinical applications. This classification is now considered a basis of consensus, particularly in oral and maxillofacial areas.

Several emerging companies have invested in the development of pure platelet rich plasma products over the years, strengthening the industry. For instance, Pure Spin PRP, a U.S.-based manufacturer, offers an advanced PRP system for centrifugation. The system is designed to provide users with benefits such as rapid turnaround time for the procedure, delivering a significant volume of PRP using a small amount of patient’s blood samples, and maximum platelet recovery. Apart from the above, a large pool of manufacturers is operating in the pure PRP market space, which supports the dominance of this segment in the global market.

Application Insights

The orthopedics segment dominated the PRP market and held the largest revenue share of 30.4% in 2019. According to various research studies, platelet rich plasma is found to be most effective in the treatment of chronic tendon injuries in which they have the potential to accelerate the healing process. PRP injections as orthopedic therapeutics are convenient when compared to conventional approaches as it stimulates healing and leads to self-regeneration and repair of degenerative tissue.

In addition, a combination of surgical techniques and liquid PRP in orthopedic surgery enables a broad range of therapeutic strategies for the management of injuries in this field. The use of platelet rich plasma as rehabilitation and biological stimuli along with physiotherapy helps in preventing the disease progression and improves functioning in a shorter period. Furthermore, certain benefits of PRP such as long-lasting relief, improved healing after surgery, soft tissue reconstruction, and bone reconstruction and augmentation are few factors responsible for supplementing the demand for PRP-based orthopedic treatments.

Dermatology is expected to grow at a significant rate from 2020-2027. The use of autologous platelet rich plasma has proven to be an efficient treatment for diabetic ulcers and other non-healing ulcers. In addition, platelet rich plasma-based treatment approaches are further set to gain immense traction, attributed to the ease of application, cost-effectiveness, and facilitating growth factors to enhance tissue healing. This has increased the adoption of PRP across various research activities carried on the lines of ulcer healing, contributing to the segment growth.

End-use Insights

Hospitals dominated the market and accounted for a revenue share of 50.1% in 2019 as there are a substantial number of hospitals providing PRP-based therapies across the globe. Hospitals in middle-income countries are prominently focusing on PRP treatment for esthetic applications. With hair loss becoming a common issue, the application of PRP treatment for hair loss is increasing. These treatments are cost-effective and nonsurgical and a substantial number of hospitals are providing these treatments to patients.

Global platelet rich plasma market share, by end-use, 2019 (%)

Furthermore, companies, such as Focus Technology Co., Ltd., Jiangsu Kangjian Medical Apparatus Co., and Changsha Biomed Supply Co., Ltd., provide Clinical Prp Prf Blood Gel Card Centrifuge and other centrifuge systems for hospital settings. With the increasing adoption of PRP treatments, hospitals are anticipated to generate more revenue in the coming years. The clinical segment is propelled by growing medical tourism in countries such as Mexico, China, and Costa Rica.

Mexico is one of the emerging countries with a growing medical tourism market. Russald Clinic and R3 Stem Cell are some of the clinics in Mexico that offer PRP therapies, thereby supporting medical tourism in the country. The services offered by these clinics include PRP therapy for hair loss, facial surgeries, shoulder surgeries, and erectile dysfunction. Reduced cost at several clinics is a major factor propelling segment growth.

Regional Insights

North America dominated the market with a revenue share of 46.1% in 2019. This can be attributed to increased awareness about platelet-rich plasma treatments, technological advancements, and the rising number of cosmetics surgeries in the region. Active involvement of academic and research institutes, such as Yale School of Medicine and Springfield College of Health Care, Management and Technology, for evaluating the application of platelet-rich plasma therapies further accelerates market growth in the region.

In addition, the presence of supportive regulatory authorities is further driving the market growth in North America. The U.S.FDA’s Center for Biologics Evaluation and Research is the regulatory body responsible for platelet-rich plasma products. The CBER grants 510(k) application approval for marketing of platelet-rich plasma preparation systems in the U.S. Thus, a strong commercial and research base for platelet-rich plasma therapies is contributing to the dominance of the North American region in the global market.

In Asia Pacific, the market is anticipated to grow at the fastest rate over the forecast period. The rising number of cosmetic surgeries to improve facial features in countries such as Korea, India, and Thailand is anticipated to boost the market growth in the region. In addition, the growing medical tourism industry in the region is expected to boost the adoption of the market for platelet rich plasma. Furthermore, active involvement of academic and research institutes, such as the University of Tsukuba and Guangzhou University of Chinese Medicine, for evaluating the application of platelet-rich plasma therapies drives growth.

Key Companies & Market Share Insights

The key companies are engaged in offering products in compliance with GLP and GMP standards to meet customer expectations. Most players are manufacturing and commercializing products to cater to various requirements in PRP therapies and treatments. With the rising demand for PRP treatments for various applications, especially in cosmetics and dermatology segments, market competition is expected to intensify in the coming years.

Widening applications of PRP therapy have created lucrative opportunities for key players engaged in offering solutions and services for PRP treatments across niche sectors of wound care, such as ulcer healing. Players are involved in research studies performed on these lines, with a particular focus on evaluating the efficacy of PRP as an adjunct therapy. Some of the prominent players in the platelet rich plasma market include:

  • Johnson & Johnson

  • Arthrex, Inc

  • EmCyte Corporation

  • DR. PRP AMERICA, LLC

  • Juventix

  • Terumo Corporation

  • Zimmer Biomet

  • Stryker

Platelet Rich Plasma Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 464.5 million

Revenue forecast in 2027

USD 1035.1 million

Growth Rate

CAGR of 12.1% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 – 2018

Forecast period

2020 – 2027

Quantitative units

Revenue in USD million and CAGR from 2020 to 2027

Report coverage

Revenue forecast, competitive landscape, growth factors and trends

Segments covered

Type, application, end-use, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country Scope

U.S.; Canada; Germany; U.K.; Japan; China; Brazil; Mexico; South Africa

Key companies profiled

Johnson & Johnson; Arthrex, Inc.; EmCyte Corporation; DR. PRP AMERICA, LLC; Juventix; Terumo Corporation; Zimmer Biomet; Stryker

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global Platelet Rich Plasma (PRP) market report on the basis of type, application, end-use, and region:

  • Type Outlook (Revenue, USD Million, 2016 - 2027)

    • Pure Platelet Rich Plasma

    • Leukocyte Rich Platelet Rich Plasma

    • Others

  • Application Outlook (Revenue, USD Million, 2016 - 2027)

    • Orthopedics

    • Sports Medicine

    • Cosmetic Surgery

    • Dermatology

      • Ulcer Healing

        • Venous Ulcer

        • Traumatic Ulcer

        • Diabetic Ulcer

        • Pyoderma Gangrenosum Ulcer

        • Trophic Ulcer

        • Vasculitic Ulcer

        • Others

      • Others

    • Ophthalmic Surgery

    • Neurosurgery

    • General Surgery

    • Others

  • End-use Outlook (Revenue, USD Million, 2016 - 2027)

    • Hospitals

    • Clinics

    • Others

  • Regional Outlook (Revenue, USD Million, 2016 - 2027)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • China

      • Japan

    • Latin America

      • Brazil

      • Mexico

    • Middle East and Africa (MEA)

      • South Africa

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