The global platelet rich plasma market size is expected to reach USD 1.0 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 12.1% from 2020 to 2027. The rise in the geriatric population, increasing incidence of orthopedic diseases, rising healthcare expenditure and patient awareness, and introduction of advanced products are factors likely to contribute to market growth over the forecast period.
Technological advancements in the development of novel and innovative platelet rich plasma (PRP) products are expected to propel market growth. Market participants are developing advanced products to reinforce their market share and overcome current limitations. In February 2020, Florida-based EmCyte Corporation received FDA’s 510(k) approval for its Pure PRP Supraphysiologic Concentrating System, intended for producing platelet rich plasma from a small quantity of blood sample at Point-of-care (PoC) settings. This is an advanced autologous biologic concentrating system that can enable clinicians to improve their work.
Over the past few years, platelet rich plasma injection therapies have been highlighted in numerous medical journals as a promising technique for healing damaged tissues. The incorporation of these products is increasing in orthopedics, owing to the broadening research to better understand PRP procedures, their underlying mechanisms, and factors that can optimize benefits. Several clinical studies have reported greater improvements in functions and pain reduction after platelet rich plasma treatments as compared to traditional standards of care, thus driving their adoption.
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Based on type, pure PRP accounted for the largest revenue share in 2019. Compared to L-PRP, pure PRP can promote better repair of bone defects
L-PRP can enhance bone regeneration by improving viability, proliferation, migration of cells in vitro, and osteogenesis and angiogenesis in vitro and in vivo
However, L-PRP products can produce adverse or inferior effects as compared to P-PRP. Thus, P-PRP is more suitable for bone regeneration
The combined use of P-PRP with β-tricalcium phosphate (β-TCP) is considered a simple, safe, and effective option in the treatment of bone defects. These factors are expected to boost the utilization of P-PRP
Orthopedics dominated the market in 2019, while dermatology is expected to witness the fastest growth rate over the forecast period
A large number of orthopedic and general surgeries being performed in hospitals is contributing to the dominant share held by hospitals in the market
The growing competition in the PRP market can be attributed to the presence of several well-established companies as well as small and midsized entities
The key players are involved in the acquisition of other small entities to increase their footprint. For instance, in February 2020, EmCyte acquired all the assets of the U.S.-based company Cellmedix Holdings LLC, along with its Centrepid Platelet Concentrator system. This acquisition is expected to expand EmCyte’s product development expertise as well as the company’s intellectual property profile. The addition of intellectual property propelled the company’s commitment toward the development of innovative products
Grand View Research has segmented the global platelet rich plasma market on the basis of type, application, end-use, and region:
Platelet Rich Plasma Type Outlook (Revenue, USD Million, 2016 - 2027)
Pure Platelet Rich Plasma
Leukocyte Rich Platelet Rich Plasma
Platelet Rich Plasma Application Outlook (Revenue, USD Million, 2016 - 2027)
Pyoderma Gangrenosum Ulcer
Platelet Rich Plasma End-use Outlook (Revenue, USD Million, 2016 - 2027)
Platelet Rich Plasma Regional Outlook (Revenue, USD Million, 2016 - 2027)
Middle East and Africa (MEA)
List of Key Players of Platelet Rich Plasma Market
Johnson & Johnson
Dr. PRP America, LLC
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