The global platelet rich plasma market size was valued at USD 546.6 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 15.11% from 2022 to 2030. Platelet-rich plasma usage is witnessing growth owing to the increasing participation in sporting events leading to the increasing cases of sports injuries and an 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 a global pandemic. This outbreak has considerably affected the global market. In response to the COVID-19 outbreak, governments of various countries and states announced protective or preventative actions, such as imposing restrictions. 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, which resulted in the decline in demand. However, by January 2021, the market stabilized and continued to recover in terms of demand and supply.
In recent years, there has been a spurt 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 function. The characteristics such as ease of use, inexpensive to produce utilizing patient’s cells, and little or no risk of adverse reactions are the major reasons behind the 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.
Wound healing, bone formation of bisphosphonate-based osteonecrosis of the jaw, and soft tissue healing in the alveolar socket after tooth removal are promising results of PRP. Moreover, medicinal factors are anticipated to generate several therapeutic expansion opportunities, thus driving the market in the future.
Pure platelet-rich plasma held the largest revenue share of over 50.0% in 2021 due to its 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 industry growth.
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 expand at a CAGR of 15.65% from 2022 to 2030. Evidence has demonstrated that LR-PRP is effective in bone regeneration and the non-surgical management of knee osteoarthritis, which is anticipated to fuel market growth in the forecast period.
The orthopedics segment has the largest revenue share of over 25.0% in 2021. However, other segments such as dermatology, sports medicine, and ulcer healing are expected to grow at a lucrative CAGR during the forecast period. 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 offers long-lasting relief, soft tissue reconstruction, and bone reconstruction, thus 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 the field, which fuels the market growth.
The dermatology segment is anticipated to grow at a faster rate during the forecast period owing to cosmetic surgeries and expanding use in ulcer treatment. PRP-based micro-needling in cosmetic procedures has driven market demand and is expected to fuel market growth. In the case of chronic ulcers, treatment with PRP reduces ulcer size and completely heals ulcer wounds.
Hospitals held the largest revenue share of over 45.0% in 2021. This can be attributed to a rapid expansion of PRP-based therapies in hospitals owing to the increasing new osteoarthritis cases in recent years, high demand for non-surgical management in treatment, and rising hair loss incidences.
Companies such as Focus Technology Co. and Changsha Biomed Supply Co. are supporting by providing the installation of centrifuge systems in hospitals, which further creates lucrative opportunities for industry growth. The others segment is projected to expand at a higher CAGR during the forecast period.
North America was the largest revenue-generating region with a share of over 40.0% in 2021. This can be attributed to the presence of a large number of manufacturing units interested in developing novel approaches with PRP-based treatments, high procurement at end-users such as hospitals and clinics, and the presence of key market players. Furthermore, regulatory authorities are supporting and granting approvals, which strengthened the market presence. Such activities are expected to contribute to expanding the platelet-rich plasma available in the market and boost growth.
In Europe, Germany held a considerable revenue share in 2021 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 a large number of manufacturers and service providers in the region will further drive the market.
The Asia Pacific region is expected to be the fastest-growing region during the forecast period due to the rising number of cosmetic surgeries, the growing interest in research and academic institutes, and increasing government support for healthcare developments.
Major players are opting for strategies such as geographical expansion, new product launches, partnerships, mergers, and acquisitions in key regions. For example, in February 2020, EmCyteCo. acquired Cellmedix Holdings LLC, along with its Centrepid platelet concentrator system. This expanded the company’s product portfolio and improved its market presence. Some prominent players in the global platelet-rich plasma market include:
Johnson & Johnson
Arthrex, Inc.
EmCyte Corporation
DR. PRP AMERICA, LLC
Juventix
Terumo Corporation
Zimmer Biomet
Stryker
Apex Biologix
Celling Biosciences
Report Attribute |
Details |
Market size value in 2022 |
USD 627.9 million |
Revenue forecast in 2030 |
USD 1.94 billion |
Growth rate |
CAGR of 15.11% from 2022 to 2030 |
Base year for estimation |
2021 |
Historical data |
2018 - 2020 |
Forecast period |
2022 - 2030 |
Quantitative units |
Revenue in USD million and CAGR from 2022 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; LATAM; Middle East & Africa |
Country scope |
U.S.; Canada; Germany; U.K.; France; Italy; Spain; China; Japan; India; Australia; South Korea; Brazil; Mexico; South Africa; Saudi Arabia; UAE |
Key companies profiled |
Johnson & Johnson; Arthrex, Inc.; EmCyte Corporation; DR. PRP AMERICA, LLC; Juventix; 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. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities 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 market report based on type, application, end-use, and region:
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
U.K.
France
Italy
Spain
Asia Pacific
Japan
China
India
South Korea
Australia
Latin America
Brazil
Mexico
Middle East & Africa
South Africa
Saudi Arabia
UAE
b. The global platelet rich plasma market size was estimated at USD 546.6 million in 2021 and is expected to reach USD 627.9 million in 2022.
b. The global platelet rich plasma market is expected to grow at a compound annual growth rate of 15.11% from 2022 to 2030 to reach USD 1.94 billion by 2030.
b. Pure platelet rich plasma dominated the platelet rich plasma market with a share of 52.02% in 2021. This is attributed to its widening applications as pure PRP is considered a more suitable nonsurgical treatment alternative for bone regeneration as compared to counterparts.
b. Some key players operating in the platelet rich plasma market include Johnson & Johnson; Arthrex, Inc; EmCyte Corporation; Zimmer Biomet; Stryker; Celling Biosciences; Apex Biologix
b. Key factors driving the platelet rich plasma market growth include the growing geriatric population, rising orthopedic conditions, and huge investments by government bodies encouraging plasma therapy development.
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