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, 2021 - 2028

  • Published Date: Feb, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-1-68038-869-5
  • Format: Electronic (PDF)
  • Historical Data: 2017 - 2019
  • Number of Pages: 147

Report Overview

The global platelet rich plasma market size was estimated at USD 476.1 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 12.0% from 2021 to 2028. 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. An increase in the incidence of sports injuries and orthopedic diseases are set to propel the demand for PRP therapy. The expanding research base is expected to boost the demand for platelet rich plasma preparation products.

Mexico PRP market size, by type, 2017 - 2028 (USD Million)

The application of PRP products 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 platelet rich plasma has the ability to potentially accelerate the healing process. This has 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 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, PRP 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 Platelet Rich Plasma for facial rejuvenation, which have reported positive aesthetic results.

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 PRP 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 these products are used alone as a coating material in implant surgeries. The combination of platelet rich plasma 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

The pure platelet rich plasma segment dominated the market and accounted for the largest revenue share of 52.8% in 2020. Some advantages associated with pure PRPs such as accelerated healing process, tissue repair and generation, and improvement in overall function have increased their demand across distinct therapeutics industry spaces, further contributing to segment growth. Effective elimination of risks and adverse effects, such as an allergic or immune reaction in pure PRP therapeutic approach, has gained the attention of entities operating in the market.

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.

On the other hand, leukocyte rich Platelet Rich Plasma is expected to grow at a rapid pace with a CAGR of 12.5% from 2021-2028. Despite the potential risks associated with leukocyte rich PRP, this market space is witnessing a significant increase in the commercial pool and number of experimental systems and expanding potential applications across orthopedic, general surgery, and sports medicine. These factors are likely to propel LR-PRP at the fastest pace over the forecast period.

Application Insights

The orthopedics segment dominated the Platelet Rich Plasma market and accounted for the largest revenue share of 29.8% in 2020. According to various research studies, PRP 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 improving the functioning in a shorter period of time. 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.

The dermatology segment is expected to grow at a significant rate of 13.5% from 2021 to 2028. 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 segment growth.

End-use Insights

The hospitals segment dominated the market and accounted for the largest revenue share of over 49.0% in 2020 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.

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.

Global PRP market share, by end use, 2020 (%)

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 and accounted for the largest revenue share of 45.5% in 2020. 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 growth of the market in the region.

Asia Pacific is anticipated to witness the highest CAGR of 14.1% from 2021 to 2028. 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. 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.

Key Companies & Market Share Insights

Extending applications of PRP treatment have generated profitable opportunities for industry participants engaged in developing PRP treatment solutions and services aimed at addressing niche sectors of wound care, including ulcer healing. Market entities are actively involved in strategic acquisitions to strengthen their market presence.

For instance, in February 2020, EmCyte completed the acquisition of Cellmedix Holdings LLC, owning all the assets of the latter U.S.-based company, which also included its proprietary product system namely, Centrepid Platelet Concentrator. This strategic acquisition is aimed at expanding EmCyte’s expertise in product development along with the company’s intellectual property profile. Some of the prominent players in the platelet rich plasma market include:

  • Johnson & Johnson (DePuy Synthes)

  • Zimmer Biomet

  • Stryker

  • EmCyte Corporation

  • Terumo BCT, Inc.;

  • Arthrex, Inc.

  • Dr. PRP America

  • Juventix

  • APEX Biologix

  • Celling BioSciences

Platelet Rich Plasma Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 535.7 million

Forecast revenue in 2028

USD 1.2 billion

Growth rate

CAGR of 12.0% from 2021 to 2028

Base year for estimation

2020

Historical data

2017 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD Million and CAGR from 2021 to 2028

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; Middle East & Africa (MEA)

Country Scope

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

Key companies profiled

Johnson & Johnson (DePuy Synthes); Zimmer Biomet; Stryker; EmCyte Corporation; Terumo BCT, Inc.; Arthrex, Inc.; Dr. PRP America; Juventix; APEX Biologix; Celling BioSciences

Customization scope

Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


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 2017 to 2028. For the purpose of this study, Grand View Research has segmented the global platelet rich plasma market report on the basis of type, application, end-use, and region: 

  • Type Outlook (Revenue, USD Million, 2017 - 2028)

    • Pure Platelet Rich Plasma

    • Leukocyte Rich Platelet Rich Plasma

    • Others

  • Application Outlook (Revenue, USD Million, 2017 - 2028)

    • 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, 2017 - 2028)

    • Hospitals

    • Clinics

    • Others

  • Regional Outlook (Revenue, USD Million, 2017 - 2028)

    • 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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