An Incisive, In-depth Analysis on the Platelet Rich Plasma Market
This study offers a comprehensive, 360 degree analysis on the Platelet Rich Plasma market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Platelet Rich Plasma market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Platelet rich plasma (PRP) is a blood plasma derived product, which typically consist of enriched platelets along with several growth factors, which ensure quick healing of bone as well as other soft tissues. Over last few years, preference as well as demand for platelet rich plasma based therapies have increased significantly. Injuries such as rotator cuff, hamstring, tendon injuries, tennis elbow necessitates PRP based therapy; and an increasing number of such injuries have been reported. In addition, number of orthopaedic surgeries, sports injuries and cosmetic surgeries also surged up, translating into the need for PRP based therapy viz.a.viz platelet rich plasma. Furthermore, use of PRP have also been established for diseases, where it was not used previously. Erectile dysfunction and facelift surgeries are some of few newly discovered area where PRPs can be used and potentially boost Platelet rich Plasma market growth during the forecast period. However, high cost of medical devices and PRP therapy are some of the factors restricting the market growth to some extent.
PRP products are widely used in cosmetic surgeries to improve facial aesthetics, enhance the rate of injury healing and modify facial structure (vampire facelift treatment). In addition, cosmetic surgeries performed with the use of PRP products modify the facial aesthetics in a short period of time due to reduction in the healing time. Thus, cosmetic surgery application segment is likely to witness the impressive growth rate of over 14% during the forecast period from 2016 to 2026. Demand for PRP from cosmetic surgery application is estimated to surpass US$ 59 Mn by 2016, up from US$ 52.4 Mn in 2015, registering a Y-o-Y growth of 13.6% in 2016.
Platelet Rich Plasma Market by Application Outlook:
Cosmetic surgery is among the leading application segments of platelet rich plasma products. The application of PRP in cosmetic surgeries began in early 2000s with the purpose of meeting requirements for improving facial aesthetics. With the introduction of innovative cosmetology and PRP products, PRP therapy is being widely-adopted in various cosmetic surgeries. PRP products are widely used in cosmetic surgeries to improve facial aesthetics, enhance the rate of injury healing and modify facial structure (vampire facelift treatment). PRP products are also used as a substitute for dermal fillers such as hyaluronic acid. Hyaluronic acid is short-term dermal filler and hence, is being rapidly replaced by PRP products. PRP products show their results for a prolonged period (minimum for 18 months). The vampire facelift treatment using PRP products is an emerging application type in cosmetic surgery. It is a minimally-invasive and short-duration cosmetic surgery, which includes injections of PRP in the neck, hands, and the face to enhance aesthetic look. The cost of this treatment ranges approximately between US$ 600 and US$ 1,800, depending on the number of injections. Considering various benefits offered by PRP in cosmetic industry, it is extensively used in cosmetic surgery practices and this use is expected to increase in the near future. According to the statistics provided by the International Society of Plastic and Aesthetic Surgeons (ISAPS), 11 Mn non-invasive cosmetic procedures were performed worldwide in 2013, including approximately 3.0 Mn dermal filler procedures. This extensive number of cosmetic surgeries performed is considered as one of the most prominent factor propelling the growth of the global PRP market during the forecast period from 2015 to 2020.
Prominent players having presence in the global PRP market include Harvest Technologies Corp., Biomet, Inc., Arthrex, Inc. and Arteriocyte Medical Systems, Inc. Other players include Dr. PRP America, Cesca Therapeutics, Inc. and Regen Lab SA amongst others.
Platelet rich plasma (PRP) is a blood plasma product in which concentration of platelets is elevated four to eight times higher than the normal blood platelet concentration. PRP is also called platelet rich gel, platelet enriched plasma and platelet enriched gels; and is used in effective treatment of various diseases such as orthopedic diseases, sports injuries, neurological diseases and cardiothoracic diseases. In addition, PRP therapy has an extensive application in cosmetic industry. This report studies the current scenario as well as future market potential for PRP globally.
The market overview section of the report comprises qualitative analysis of the overall PRP market considering the factors determining the market dynamics such as drivers, restraints and opportunities, along with Porter’s five force analysis and market attractiveness analysis. In addition, various analyses such as event impact analysis, regulatory scenario and value chain analysis has also been provided. Event impact analysis encompasses the major events occurred in past decade and are expected to occur during the forecast period and are likely to affect the market dynamics positively or negatively. Value chain analysis includes the study of major steps involved in the PRP devices preparation and distribution. Regulatory scenario includes the study of different regulatory norms and procedures that regulate the approval and commercialization of PRP devices and products.
The global PRP market has been segmented on the basis of types, origins and applications. On the basis of types, the global PRP market is categorized as pure-PRP (P-PRP), leukocyte-rich PRP (L-PRP) and pure PRF/leukocyte-rich PRF (L-PRF). Moreover, on the basis of origin, the PRP market has been segmented into autologus, homologus and allogenic PRP. Furthermore, on the basis of applications, the global PRP market has been classified as neurosurgery, cosmetic surgery, orthopedic surgery, general surgery and others (cardiothoracic surgery, urology, periodontal surgery and oral and maxillofacial surgery). The market for these types, origins and applications has been extensively analyzed on the basis of factors such as usage pattern, sales revenue, geographic presence and technological developments. The market size and forecast in terms of revenue (US$ Mn) for each of these segments have been provided for the period 2012 to 2026, considering 2013 as the base year.
Geographically, the PRP market has been classified into four segments namely, North America, Europe, Asia-Pacific and Rest of the World (RoW). The market size and forecast for each region has been provided for the period 2012 to 2026, in terms of origin, types and applications, along with the CAGR (%) for the forecast period 2015 to 2026.
The report also provides a section on the competitive landscape, wherein the market share analysis of leading players in the global PRP market, in terms of percentage share in 2013 has been discussed. A list of recommendations has also been included for new entrants as well as existing market players to help them establish a strong presence in the market and increase their market share. The report concludes with the profiles of major players in the global PRP market such as AdiStem Ltd., Arteriocyte Medical Systems, Inc., Arthrex, Inc., Biomet, Inc., Cesca Therapeutics, Inc., DePuy Synthes, Inc., Dr. PRP America LLC., EmCyte Corporation, Exactech, Inc., Harvest Technologies Corp., Nuo Therapeutics, Inc., Regen Lab SA, and Stryker Corporation. The major market players are evaluated on various parameters such as company overview, financial overview, product portfolio, business strategies and recent developments.
Global Platelet Rich Plasma (PRP) Market is segmented as follows:
Global Platelet Rich Plasma (PRP) Market, by Types
- Pure-Platelet Rich Plasma (P-PRP)
- Leukocyte-Platelet Rich Plasma (L-PRP)
- Leukocyte-Platelet Rich Fibrin (L-PRF)
Global Platelet Rich Plasma (PRP) Market, by Origin
Global Platelet Rich Plasma (PRP) Market, by Applications
- Orthopedic Surgery
- Cosmetic Surgery
- General Surgery
- Other Surgeries (Urological, Cardiothoracic, Periodontal and Oral and Maxillofacial)
Global Platelet Rich Plasma (PRP) Market, by Geography
- North America
- Rest of the World (RoW)