GVR Report cover Platelet Rich Plasma (PRP) Market Size, Share & Trends Report

Platelet Rich Plasma (PRP) Market Size, Share & Trends Analysis Report By Type (Pure, Leukocyte Rich), By Application (Orthopedics, Sports Medicine, Cosmetic Surgery), By End-use, By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-1-68038-869-5
  • Number of Report Pages: 110
  • Format: PDF, Horizon Databook
  • Historical Range: 2018 - 2021
  • Forecast Period: 2023 - 2030 
  • Industry: Healthcare

Platelet Rich Plasma Market Size & Trends

The global platelet rich plasma (PRP) market size was valued at USD 627.9 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 15.1% from 2023 to 2030. Platelet-rich plasma usage is witnessing growth owing to the increasing participation in sporting events leading to an increasing cases of sports injuries and upsurge in cosmetic surgery. Increasing research applications of platelet rich plasma (PRP) are also fueling the industry growth. For instance, in 2020, according to the American Society of Plastic Surgeons, a 25% rise in the use of PRP in cosmetics was observed in the last 4 years. In March 2020, the WHO declared COVID-19 as a global pandemic. This outbreak has considerably affected the complete global market. In response to the COVID-19 outbreak, governments of counties and states announced protective or preventative actions, such as imposing restrictions.

Mexico platelet rich plasma market size and growth rate, 2023 - 2030

As COVID-19 had reached almost everywhere during the last two weeks of March 2020, its far-reaching consequences were supply chain disruption, constraints in resource allocation, and hindrances in patient treatment activities among other reasons have resulted in the decline in demand. However, by January 2022, the market stabilized and continued to recover in terms of demand and supply.

In recent years, there has been an spur in demand for use of platelet-rich plasma in the treatment of sports injuries, orthopedic disorders, and musculoskeletal conditions. It concentrates on growth factors and can significantly improve healing time. Regenerative medicines too have PRP as an important source of custom products for each patient, supporting wound healing and repair cascade.

Platelet-rich plasma has evolved in plastic surgery. It has promising results to utilize the body’s own natural tissue repair process to achieve improved form and improved function. The characteristics such as ease of use, inexpensive to produce utilizing patient’s cells, and little or no risk of adverse reactions. are being the major reasons for in rising adoption of PRP in treatments.   

Platelet-rich plasma has multiple utilities in skin rejuvenation improving skin texture and color, and lighting wrinkles depth. Currently, evidence has shown micro-needling and topical application of PRP in improving collagen production and skin tightening for vampire facials. It has also emerged in application in skin pigmentation disorders and treating acne scars. In hair transplants, PRP can bind to growth factors and elevates the proliferation of human derma papilla cells leading to the formation and maintenance of hair follicles. Thus, PRP has a growing number of uses leading to an increase in market growth.

Dental uses such as wound healing and bone formation of bisphosphonate-based osteonecrosis of the jaw and soft tissue healing in the alveolar socket after tooth removal is promising results of PRP. Moreover, medicinal factors are anticipated to generate several therapeutic expansion opportunities driving market growth in the future.

Type Insights

Pure platelet rich plasma held the highest market share of 51.8% in 2022 due to widespread use in the healing process, tissue repair, and regeneration. PRP offers minimum risk and adverse effects due to allergic and immune responses in treatments. It is mostly known for its off-label use and manufacturers are interested to develop different products, which are expected to boost the market.

Furthermore, the leucocyte-rich segment has the potential to grow due to its increasing utility across general surgery, orthopedic, and sports injuries. The segment is expected to grow by 15.7% of CAGR from 2023 to 2030. Evidence has demonstrated that LR-PRP is effective in the non-surgical management of knee osteoarthritis and its application in bone regeneration, is anticipated to drive market growth in the given forecast period.

Application Insights

The orthopedics segment has the largest revenue share of 26.5% in 2022. However, other segments such as dermatology, sports medicine, and ulcer healing are expected to grow at a lucrative CAGR. In comparison to conventional treatments, PRP has favorable results for effective healing in chronic tendon injuries. PRP in orthopedic therapeutics is conveniently used because of improved healing, tissue repair, and regeneration. Moreover, PRP has benefits of long lasting relief, soft tissue reconstruction, and bone reconstruction leading to market growth.  

The sports medicine segment has shown growth because of the autogenous advantage of PRP-based treatment, investigated safety profile, ease of preparation, and reduced cost of preparation. In addition, it fulfills the need for rapid recovery so that sportspersons can return to field which offers PRP-based market growth.

The dermatology segment is anticipated to grow at a faster rate owing to cosmetic surgeries and expanding use in ulcer treatment. PRP-based micro-needling in cosmetic procedures has developed market demand and is expected to market growth. In the case of chronic ulcers, treatment with PRP has the advantage of reducing ulcer size and complete healing of ulcer wounds.

End-use Insights

Hospitals held the largest revenue share of over 49.1% in 2022. This can be attributed to a rapid expansion of PRP-based therapies in hospitals owing to the increasing knew osteoarthritis cases in recent years, high demand for non-surgical management in treatment and rising hair loss incidences.

Global platelet rich plasma market share and size, 2022

Companies such as Focus Technology Co. and Changsha Biomed Supply Co. are supporting by providing the installation of centrifuge systems in hospitals which further lucrative opportunities for market growth. The others segment is projected to grow at a higher CAGR over the given forecast period. 

Regional Insights

North America was the largest revenue-generating region with a share of 44.1% in 2022. This can be attributed to the presence of the large number of manufacturing units interested in developing novel approaches with PRP-based treatments, high procurement at end user such as hospitals and clinics, and the presence of key market players. Furthermore, regulatory authorities are supporting and granting approvals which strengthened its market presence. Such activities are expected to contribute toward expanding the platelet rich plasma available in the market, and drive growth.

In Europe, Germany held a considerable revenue share in 2022 owing to strong research facilities for platelet-rich plasma. For instance, in 2020, a survey called “Working Group for Clinical Tissue Generation’ was studied, which demonstrated the need for PRP preparation Standardization and its application protocols for indications such as knee osteoarthritis. The availability of the large number of manufacturers and service providers in the region will further drive the market growth.

Platelet Rich Plasma (PRP) Market Trends by Region, 2023 - 2030

The Asia Pacific region is expected to be the fastest-growing region due to the rising number of cosmetic surgeries, growing interest of research and academic institutes, and increasing government support for healthcare developments.

Key Companies & Market Share Insights

Major players are opting for strategies such as geographical expansion, new product launches, partnerships, mergers, and acquisitions in key regions. For instance, in May 2023, Dr John Kahen, the founder of Beverly Hills Med Spa received U.S. patent for Smart PRP therapy. Smart PRP is majorly used for hair restoration and other applications such as skin rejuvenation, skin scarring, pigmentation, and texture. Some of the prominent key players in the global platelet rich plasma (PRP) market include:

  • Johnson & Johnson Services, Inc.

  • Arthrex, Inc.

  • EmCyte Corporation

  • Dr PRP USA LLC

  • Juventix Regenerative Medical, LLC.

  • Terumo Corporation

  • Zimmer Biomet

  • Stryker

  • Apex Biologix

  • Celling Biosciences, Inc. 

Platelet Rich Plasma (PRP) Market Report Scope 

Report Attribute

Details

Market size value in 2023

USD 721.7 million

Revenue forecast in 2030

USD 1.94 billion

Growth rate

CAGR of 15.1% from 2023 to 2030

Base year for estimation

2022

Historical data

2018 - 2021

Forecast period

2023 - 2030

Report updated

May 2023

Quantitative units

Revenue in USD million/billion and CAGR from 2023 to 2030

Report coverage

Revenue forecast, company ranking, 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

Country scope

U.S.; Canada; Germany; U.K.; France; Italy; Spain; Denmark; Sweden; Norway; China; Japan; India; Australia;South Korea; Thailand; Brazil; Mexico; Argentina; South Africa;Saudi Arabia; UAE; Kuwait

Key companies profiled

Johnson & Johnson Services, Inc; Arthrex, Inc.; EmCyte Corporation; Dr PRP USA LLC, Juventix Regenerative Medical, LLC; Terumo Corporation; Zimmer Biomet; Stryker; Apex Biologix: Celling Biosciences

Customization scope

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

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Global Platelet Rich Plasma (PRP) Market Report Segmentation

This report forecasts revenue growth and provides an analysis on the latest trends in each of the sub-segments from 2018 to 2030. For the purpose of this report, Grand View Research has segmented the global platelet rich plasma (PRP) market report on the basis of type, application, end-use, and region:

Global Platelet Rich Plasma (PRP) Market Report Segmentation

  • Type Outlook (Revenue, USD Million, 2018 - 2030)

    • Pure Platelet Rich Plasma

    • Leukocyte Rich Platelet Rich Plasma

    • Others

  • Application Outlook (Revenue, USD Million, 2018 - 2030)

    • 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, 2018 - 2030)

    • Hospitals

    • Clinics

    • Others

  • Regional Outlook (Revenue, USD Million, 2018 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • UK

      • France

      • Italy

      • Spain

      • Denmark

      • Sweden

      • Norway

    • Asia Pacific

      • Japan

      • China

      • India

      • South Korea

      • Australia

      • Thailand

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • UAE

      • Kuwait

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