Platelet rich plasma (PRP) is a blood plasma concentrate enriched with platelet count above the baseline of whole blood prepared from patient’s own blood or from a healthy donor’s blood. There are different types of PRP, categorised on the basis of source of blood and end-product type.
Autologous PRP is a cost-effective, quick, and easy production method involving lower threat of disease transfusion as it is prepared from patient’s own blood, thus leading to its widespread adoption. Autologous PRP has been increasingly used in treatment of musculoskeletal injuries, especially in the treatment of sports-related injuries.
Allogenic PRP is prepared using blood from well-characterised donors. Allogeneic PRP helps generate more consistent and reliable therapeutic effect and also helps avoid taking large quantities of blood from patient.
Homologous platelet rich plasma is a concentrated form of blood derived from blood relatives.
Drivers and Trends
The Europe PRP market was valued at US$ 35.3 Mn in 2015, and is projected to grow at a CAGR of 6.6% over the forecast period 2016-2024 owing to rising demand for PRP therapy in sport injuries.
Platelet-rich Plasma (PRP) therapy is a minimally invasive procedure and an alternative option to surgery. PRP therapy is a quick and highly effective treatment for reducing the pain and enhances tissue regeneration power with less recovery time along with higher success rates. PRP treatment is very cost effective compared to surgical procedures for orthopedic and sports injuries. Some major factors driving the growth of PRP market are expanding PRP application in the sports medicine industry, technological advancements in PRP therapy, progressive demographic ageing of the older population etc. These factors are expected to fuel the growth of the market growth rate over the forecast period.
Analysis by Country
By country, the Europe PRP market has been segmented into Germany, France, Italy, Spain, the U.K., and Rest of Europe. The U.K. PRP market has been estimated to hold maximum share in Europe region in 2016 and expected to grow at a CAGR of 8.0% over the forecast period. France is the second largest market for PRP in Europe, followed by Rest of Europe.
Analysis by Product Type
The European PRP market is segmented into instruments and kits segment. The kit product type segment is further sub-segmented into P-PRP kits, L-PRP kits, L-PRF kits and P-PRF kits based on end PRP product type. The kits segment also sub-segmented into autologous - PRP kits, homologous - PRP kits, and allogeneic - PRP kits based on the source of blood. Currently, the kits segment accounts for a major share of the Europe PRP market, whereas the P-PRF kits sub-segment is expected to witness an impressive growth during the forecast period.
Analysis by Application
By application, the Europe PRP market is segmented into knee, elbow, foot and ankle, shoulder, CMF and others. The elbow application segment is expected to grow at a CAGR of 7.4% in terms of revenues over the forecast period. The knee segment was estimated to dominate the overall European PRP market and expected to grow at a healthy CAGR over the forecast period.
Some of the key players identified in the European PRP market report include Arthrex, Inc., Stryker Corporation, Johnson and Johnsons Ltd, Zimmer Biomet Holdings Inc., Terumo Corporation, Glofinn Oy, Medira Ltd., and Regen Lab S.A. The report offers invaluable insights into company-specific strategies related to PRP market, market consolidation initiatives and analyses of the various market players’ specific strengths, weaknesses, opportunities and threats. Companies are focusing on developing innovative products in order to remain competitive in the Europe PRP market.
Future Market Insights offers 8-year forecast on the Europe PRP market between 2016 and 2024. In terms of value, the PRP market is expected to register a CAGR of 6.6% during the forecast period. This study demonstrates market dynamics and trends in EU5 and rest of European countries that are expected to influence the current environment and future status of the Europe PRP market over the forecast period.
This Future Market Insights report examines the PRP market for the period 2016–2024. The primary objective of the report is to offer insights into developments in the PRP market that are significantly helping transform the healthcare industry into a more comprehensive industry.
The Europe PRP market report begins by defining ‘PRP’ and its types. It also lists the various application for PRP therapy. This is followed by an overview of the Europe PRP market. The overview section includes FMI’s analysis of the key trends, drivers, restraints, trends and opportunities that are influencing growth of PRP market currently. Impact analysis of the key growth drivers and restraints based on the weighted average model has also been included in the ‘European Platelet Rich Plasma (PRP) Market’ to better equip customers and readers with country specific trends and insights.
The primary driving factors for the PRP market are significant increase in the number of sports injuries, rising prevalence of musculoskeletal injuries, progressive demographic ageing of the older population and technological advancements in PRP therapy to improve success and recovery rate. Furthermore, increase in demand of PRP therapy in sports injuries and ease in regulatory approvals has also triggered growth of the Europe PRP market.
On the basis of product type, the Europe PRP market is segmented into instruments and kits product type segment. Furthermore, kits product type segment is further sub-segmented into P-PRP kits, L-PRP kits, L-PRF kits and P-PRF kits based on end product type and into autologous - PRP kits, homologous - PRP kits, and allogeneic - PRP kits based on the source of blood. Secondly, the market is also segmented based on application in orthopaedic industry. A detailed analysis of all the categories of application has been provided in terms of market size, Y-o-Y growth rate, absolute $ opportunity and BPS analysis.
The next section of the report highlights the PRP market by country. It provides the market outlook for 2016–2024 and sets the forecast within the context of the PRP market. The study discusses the key regional trends and contracts contributing to growth of the PRP market in European region, as well as analyses the extent to which the drivers are influencing this market in this region. Key country assessed in this report include the U.K., Germany, France, Italy, Spain and rest of Europe.
The above sections – by product type, application, and country – evaluate the present scenario and growth prospects of the PRP market for the period 2016–2024. We have considered 2015 as the base year and provided data for the forecast period, i.e. 2016–2024.
The forecast presented here assesses the total revenue generated across the PRP market in Europe region over the forecast period. In order to offer an accurate forecast, we started by sizing the current market, which forms the basis of how the PRP market is expected to develop in the future. Given the characteristics of the market, we triangulated the outcome on the basis of three different types of analysis, i.e. by supply side, downstream industry demand and the economic envelope.
It is imperative to note that in an ever-fluctuating European economy, we not only conduct forecasts in terms of CAGR, but also analyse based on key parameters, such as Year-on-Year (Y-o-Y) growth rates, to understand the predictability of the market and to identify the right opportunities in it.
The PRP market segments in terms of products, application and countries are analysed on the basis of their respective Basis Point (BPS) to understand the individual segment’s relative contribution to market growth. This detailed level of information is important for the identification of various key trends in the PRP market.
Another key feature of this report is the analysis of key segments in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical for assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective of the PRP market.
To understand key growth segments, Future Market Insights developed the PRP market ‘Attractiveness Index’. The resulting index helps providers to identify real market opportunities.
In the final section of the report on the PRP market, the ‘Competitive Landscape’ is included to provide report audiences with a dashboard view, to access the key differentiators among the competitor firms. Key categories of providers covered in the report are instruments and kits. This section is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment in the PRP value chain and the potential players with regard to the same. However, this section also includes market strategies and SWOT analysis of the main players in the market.
Detailed profiles of the medical device companies are also included in the scope of the report to evaluate their long-term and short-term strategies. Key players in the market include Arthrex, Inc., Stryker Corporation, Johnson and Johnsons Ltd, Zimmer Biomet Holdings Inc., Terumo Corporation, Glofinn Oy, Medira Ltd., and Regen Lab S.A.
Key Segments Covered
Key Countries Covered