U.S. Platelet Rich Plasma Market Size, Share & Trends Analysis Report By Type (Pure PRP, Leukocyte Rich PRP), By Application (Sports Medicine, Orthopedics), By End Use, By Region, And Segment Forecasts, 2020 - 2027

Report Overview 

The U.S. platelet rich plasma market size was valued at USD 167.0 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 10.3% from 2020 to 2027. Platelet-rich plasma (PRP) based therapy has shown to be an effective and safe treatment option in various medical applications. Accelerated healing, enhanced wound closure, reduced swelling and inflammation, stabilization of bone or soft tissue, and reduction in bruising and bleeding are among the few advantages associated with it. These benefits expand the application of platelet rich plasma in a myriad of chronic ailments, which subsequently boosts the revenue generation in the market. Platelets play a critical role in the wound healing process due to its hemostatic function and presence of growth factors and cytokines. Research studies have reported that platelet rich plasma is a safe and affordable regenerative therapy for cutaneous wound healing, thus improving the patient’s care.

While increased acceptability of PRP in dental and oral surgical procedures, such as managing bisphosphonate-related osteonecrosis of the jaw to enhance wound healing, have also yielded promising results. In the past few years, platelet rich plasma injections have gained significant traction among popular sports professionals, including Jermaine Defoe, Rafael Nadal, Alex Rodriguez, Tiger Woods, and many more. Furthermore, the World Anti-doping Association (WADA) removed the PRP from the prohibited substances list in 2011. Wide application of these products by high profile athletes in the U.S. for early osteoarthritis (OA) and chronic injuries significantly contribute to market growth.

PRP and stem cell-based biological interventions have been proven to accelerate recovery while maintaining the performance of athletes. Moreover, research studies have demonstrated that PRP can be used successfully in combination with other treatments to ensure rapid healing. The effects of PRP therapy combined with a 70% glycolic acid effectively manage acne scars. Similarly, PRP along with hyaluronic acid significantly improves skin general appearance, firmness, and texture. 

High costs associated with platelet rich plasma products make it difficult for clinicians to deploy this therapy on a large scale, which impedes market growth to some extent. Conversely, insurance firms cover few PRP therapy costs, including diagnostic tests, consultation fees, and other medical expenses. The CMS covers autologous PRP only for patients with chronic non-healing diabetic, venous wounds, or when enrolled in a clinical research study, thus reducing the amount of out-of-pocket charges.

Type Insights

Pure platelet rich plasma dominated the market with a revenue share of 52.4% in 2019. Certain benefits associated with this PRP type, including tissue generation & repair, rapid healing, and enhancement in overall function, have raised the demand for pure PRP across different therapeutic applications. In addition, effective elimination of adverse effects, such as an allergic or immune reaction, with this therapeutic approach has considerably benefitted the segment growth.

Pure platelet rich plasma is considered to be more suitable for application for bone regeneration than leukocyte platelet rich plasma. The combined use of this therapy with β-tricalcium phosphate is reflected to be an effective and safe alternative for the treatment of bone defects. Key players are also providing advanced products in this segment. Pure Spin PRP, a U.S.-based firm, is one such player offering an advanced PRP system for centrifugation with maximum platelet recovery.

Leukocyte-rich PRP (LR-PRP) is anticipated to grow at a lucrative pace during the forecast period. LR-PRP promotes bone regeneration by improved viability, proliferation, migration of cells in vitro, osteogenesis, and angiogenesis in vitro & in vivo, however, these products produce harmful effects as compared to pure type. Conversely, these are powerful tools for soft tissue reconstruction with a reduction in operating time, postoperative pain, and risk of complications in wound healing.

Application Insights

In terms of revenue, the orthopedics held the maximum share of 22.9% in 2019 in the U.S. Platelet Rich Plasma (PRP) market. Platelet rich plasma injections in orthopedic therapeutics have been recognized to be more convenient as compared to conventional therapeutics as the former stimulates healing and causes degenerative tissue to repair & regenerate itself. Long-lasting relief and optimized healing after surgery are certain advantages associated with this therapy that have supplemented the demand for PRP in soft tissue reconstruction and bone reconstruction.

Furthermore, an increase in the prevalence of OA in the U.S. boosts the demand for this regenerative therapy in orthopedics. As per the Centers for Disease Control and Prevention (CDC), there were 54 million cases of arthritis and it is estimated that 78.0 million U.S. adults aged 18 years or older would have arthritis by 2040. Moreover, an increase in the number of research studies constantly illustrating the benefits of isolated PRP usage in combination with surgical treatments in the management of OA is set to propel the market growth.

An increase in cosmetic surgeries is set to boost the cosmetic surgery and dermatology segment, poised to grow at the highest CAGR through 2020-2027. As per the American Society of Plastic Surgeons, there were nearly 5.9 million reconstructive procedures in 2019 in the U.S.The rise in the adoption of PRP treatments by plastic surgeons & dermatologists to improve the volume, tone, and texture of the skin also drives segment growth. It reduces the appearance of wrinkles and offers positive aesthetic results when combined with fat grafting procedures.

End-use Insights

The hospital segment accounted for the largest revenue share of 49.9% in 2019 with a substantial number of hospitals in the U.S. that provide PRP-based therapies. In addition, the growth in the knee OA cases is a major health concern in the U.S. As there are limited or no definitive curative therapies for osteoarthritis, it creates a major opportunity for these therapies to be highly adopted by hospitals for the treatment of knee OA. This factor contributes to the segment’s dominance in the market. 

Others end-use segment includes academic institutes, research institutes, and Point-of-care (POC) settings and is estimated to witness the fastest growth rate throughout the forecast period. Recent product approval for the rapid and safe preparation of this therapy at PoC settings in the U.S. is one of the major factors attributive to the projected CAGR. For instance, Arthrex Double Syringe (ACP) kit from Arthrex received FDA approval in November 2019.

Similarly, the Fidia PRP Kit of the Fidia Farmaceutici s.p.a., an Italy-based company with operations in the U.S., received FDA approval in November 2019 for rapid and safe preparation of autologous platelet rich plasma at the patient’s PoC. Apex Biologix’s XCELL PRP Platelet Concentrating System 60ml was granted approval in April 2019. The availability of these systems and kits for PRP preparation to be used at POC settings is likely to drive the segment at a lucrative pace.

Key Companies & Market Share Insights

The market participants have manufactured and commercialized several products to cater to the demands for platelet rich plasma-based therapies across a broad range of medical ailments. Technological advancements in the development of novel and innovative products to facilitate rapid and safe preparation of autologous platelet rich plasma reinforce the company’s market share and overcome the limitations of the market. For instance, in February 2020, EmCyte Corporation received FDA 510(k) approval for its Pure PRP Supraphysiologic Concentrating System that is designed for producing platelet rich plasma from a small quantity of blood sample at the POC.

Moreover, companies are adopting profitable strategic initiatives, such as mergers and acquisitions, to attain a competitive edge in the marketplace. In regard to this fact, EmCyte completed the acquisition of all the assets of the U.S.-based Cellmedix Holdings LLC coupled with the latter’s Centrepid Platelet Concentrator system in February 2020. This acquisition is expected to propel EmCyte’s intellectual property profile and strengthen its product development capabilities. Some of the prominent players in the U.S. platelet rich plasma market include:

• DePuy Synthes (Johnson & Johnson)

• Arthrex, Inc.

• EmCyte Corporation

• Dr. PRP America LLC

• Juventix Regenerative Medical

• Terumo BCT, Inc.

• Zimmer Biomet

• Stryker

U.S. Platelet Rich Plasma Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the country level 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 U.S. platelet rich plasma market report on the basis of type, application, and end-use:

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

  • Pure PRP

  • Leukocyte Rich PRP

  • Others

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

  • Orthopedics

  • Sports Medicine

    • PRP Injections

    • PRP Kits

    • PRP Systems

  • Cosmetic Surgery and Dermatology

  • Ophthalmic Surgery

  • Neurosurgery

  • General Surgery

  • Others

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

  • Hospitals

  • Clinics

  • Others