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 Pages: 110
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2021
  • Industry: Healthcare

Research Methodology

A three-pronged approach was followed for deducing the platelet rich plasma market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for platelet rich plasma market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of platelet rich plasma market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Platelet Rich Plasma Market Categorization:

The platelet rich plasma market was categorized into four segments, namely type (Pure Platelet Rich Plasma, Leukocyte Rich Platelet Rich Plasma), application (Orthopedics, Sports Medicine, Cosmetic Surgery, Dermatology, Ophthalmic Surgery, Neurosurgery, General Surgery), end-use (Hospitals, Clinics), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The platelet rich plasma market was segmented into type, application, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The platelet rich plasma market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-three countries, namely, the U.S.; Canada; Germany; the UK.; France; Italy; Spain; Denmark; Sweden; Norway; China; Japan; India; Australia; South Korea; Thailand; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; and Kuwait.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Platelet rich plasma market companies & financials:

The platelet rich plasma market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Celling Biosciences - Celling Biosciences is a biotechnology firm dedicated to advancing the field of autologous cellular therapy through scientific research and development. The company’s ART PLUS product line stands as the sole integrated ultrafiltration system available, enabling the processing of growth factors, peripheral blood, and bone marrow directly at the point of care in the medical market. 

  • APEX Biologix - APEX Biologoix functions as a provider of medical equipment and supplies. In addition, it extends its offerings to encompass a range of autologous products, a variety of allograft and wound care solutions, as well as specialized training programs for the procurement of bone marrow-derived stem cells, platelet-rich plasma, allograft amniotic tissue for injection, & adipose-derived stem cells. 

  • Stryker - Stryker is a global medical technology company that focuses on providing better healthcare. The company offers novel products and services in fields like medical & surgical, orthopedics, and neurotechnology & Spine. It offers products in MedSurg, reconstructive, and neurotechnology & spine fields. The company owned 8,883 patents globally in 2019. It has manufacturing and R&D operations in more than 44 countries globally. 

  • Zimmer Biomet - Zimmer Biomet is a global company engaged in designing, manufacturing, and commercializing innovative solutions, which support orthopedic clinicians & surgeons to alleviate pain and improve patients ’ life. The company manufactures orthopedic reconstructive products, biologics, sports medicine, and extremities & trauma solutions along with spine, thoracic, and craniomaxillofacial products, dental implants, & other surgical products. The company has operations in over 25 countries with a distribution network in more than 100 nations. 

  • Juventix Regenerative Medical - Juventix Regenerative Medical is a privately held company that focuses on centrifugation products and provides a range of high-quality, economical, reliable, & easy-to-use instruments. Its centrifugation products are user-friendly and deliver high performance. The company’s CENT8 Centrifuge is used to deliver Platelet Rich Plasma (PRP) for patient injections in 8 minutes. In addition, the company’s PRP harvesting kits offer better clinical outcomes in the regenerative medical space at a reasonable cost. 

  • Dr. PRP USA LLC - Dr. PRP America LLC is a privately held San Diego-based company that focuses on accelerating natural healing. The company is engaged in the delivery of PRP biodevices. The regenerative bio-devices are applied in the platelet-rich plasma and stem cell procedures. The company’s product accelerates the human body’s natural healing process to overcome health issues. 

  • EmCyte Corporation - EmCyte Corporation is a privately held company that is committed to the development and enhancement of devices designed for autologous regenerative biologics and the promotion of autologous therapies to improve patient’s life. The company focuses on autologous platelet-rich plasma and progenitor stem cell biologics. The company maintains an Integrated Quality Management System in compliance with the regulatory framework of medical devices of the EU Medical Device Directive, the FDA Quality System Regulations, and the EN ISO 13485:2016 medical device quality standard requirements. 

  • Arthrex, Inc. - Arthrex, Inc. is a privately held global medical company engaged in product development and provides medical education in orthopedics. The company has pioneered in the arthroscopy field and develops over 1,000 novel products & procedures every year. It has regional head offices in Singapore and Munich, Germany. The company has several subsidiaries and distribution centers in the Asia Pacific, Europe–Middle East–Africa, Western Hemisphere, and Latin American regions. Around 90% of the company’s products are manufactured in the U.S. and are exported to over 100 countries. 

  • Johnson & Johnson Services - Johnson & Johnson Services, Inc. is a global healthcare company engaged in the research, development, manufacture, and commercialization of a wide range of healthcare products. It is a holding company with several operating companies that are operational in almost all countries globally. The company has three business units, namely Pharmaceuticals, Consumer, and Medical Devices. The company enhances access & affordability, establishes healthy communities, and provides healthcare products within the reach of everyone. 

  • Terumo Cardiovascular Systems Corporation - Terumo Corporation is a global company engaged in the development and commercialization of medical products & equipment, such as nutritional food supplements, pharmaceuticals, disposable medical devices, blood bags, products for cardiovascular systems, glucose monitoring systems, & others. The company has its subsidiaries in Europe, Australia, South America, India, China, Vietnam, the Philippines, and Thailand. The company operates through three business segments-Cardiac & Vascular Business, Blood Management Business, and General Hospital Business. It operates in more than 160 countries globally.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Platelet Rich Plasma Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Platelet Rich Plasma Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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