Platelet Rich Plasma Market

2021 Analysis and Review: Platelet Rich Plasma Market by Origin Type – Autologous, Homologous, and Allogenic for 2021-2031

Platelet Rich Plasma Market Snapshot

As per Future Market Insights (FMI) analysis on platelet rich plasma, growth prospects remain positive as platelet rich plasma therapy continues gaining traction in diverse medical procedures including cosmetic, orthopedic, and neurological surgeries.

The global platelet rich plasma market valuation reached US$ 370.78 Mn in 2021. With a favorable demand outlook, the market is projected to expand at a steady 6% CAGR through 2031.

Increasing applications of platelet-rich plasma in regenerative therapies and surgical procedures have created prospects for intensive medical research. This, coupled with rising incidence of sports-related injuries, oral and maxillofacial procedures, and periodontal surgeries, will push demand in the platelet rich plasma market.

FMI projects the market to register year on year growth at an impressive 8.8% in 2021, even as COVID-19 outbreak causes unprecedented burden on the healthcare sector.

Key Points Covered in Platelet Rich Plasma Market Survey

  • Market estimates and forecast 2021-2031
  • Key drivers and restraints impacting market growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Platelet Rich Plasma Market and how to Navigate
  • Recommendation on Key Winning Strategies

Platelet Rich Plasma (PRP) Market Historic Sales Compared to 2021-2031 Forecast Outlook

Historic outlook of the platelet-rich plasma market indicates robust growth as applications of PRP witnessed an uptick, leading to market expansion at 11% CAGR between 2016 and 2020.

Increasing awareness about PRP therapy and its advantages in the treatment of injuries in aging population is identified as a chief driver in the market. As per FMI’s analysis, these factors will continue facilitating growth, even as mounting cases of COVID-19 tightened its noose in the healthcare sector.

The COVID-19 outbreak has reassessed the efficacy of historic convalescent plasma transfusion (CPT) to assist recovery in severely ill patients. As scientists raced towards developing vaccines and treatment options for the novel coronavirus, CPT emerged as a viable treatment option. CPT uses antibodies from the blood of a recovered COVID-19 patient to treat those who are severely affected by the virus.

Research around CPT and the launch of COVID-19 vaccines have slowed down the pace of growth in platelet-rich plasma market. Cosmetic procedures bound by aesthetics were temporarily put on hold as treatment of COVID-19 patients was prioritized to contain the virus.

However, FMI projects an impressive growth outlook for platelet-rich plasma market, owing to rising utilization of PRP in orthopedic and cosmetic procedures, and increasing research and development supporting the advantages of PRP. The market is anticipated to expand at 12.40% in terms of volume.

Will Applications of PRP in Cosmetic Procedures Drive Growth?

Owing to its restorative and regenerative properties, the use of platelet-rich plasma has increased across diverse fields of medicine including dermatologic, oral, and maxillofacial procedures.

In plastic surgery, platelet-rich plasma finds applications in procedures including skin rejuvenation, laser treatment, removal of acne scars, alopecia, and fat grafting. Among these, skin rejuvenation for aging facial skin is one of the key segments for applications, as PRP induces collagen synthesis and assists remodeling of the extracellular matrix.

Earlier, platelet-rich plasma was injected intradermally/sub-dermally for improved skin texture, color, and to reduce wrinkles and fine lines. The needling effect significantly boosted collagen production, however, pain and slow recovery gave rise to the usage of topical methods.

In terms of topical methods, platelet-rich plasma is applied to the skin after microneedling. PRP has also emerged as a popular alternative for botox treatments, which is facilitating the demand for PRP kits and products. A combination of both botox and PRP is gaining traction as well, owing to derived benefits including both skin rejuvenation and healthy skin cell growth.

In terms of wound healing and reconstruction procedures, the clinical use of PRP is being widely recorded in maxillofacial and hemifacial atrophy, diabetic foot ulcers, and Romberg Syndrome for tissue engineering and grafting.

Use of PRP in these procedures multiplies the number of adipose-tissue-derived stem cells, improving maintenance and recovery of fat graft in patients who underwent plastic reconstructive surgeries.

Platelet Rich Plasma for Alopecia Treatment will Gain Traction

The applications of PRP in hair restoration and the treatment of androgenic alopecia will continue gaining traction. Positive results are backed by quantitative measures such as hair count, dermoscopic photomicrographs, and immunohistochemistry.

Platelet-rich plasma effectively increases the number of human dermal cells that regulate hair follicle growth. PRP as a standalone treatment as well as combined with hair transplant treatments has resulted in an overall increase in hair density, which in turn is generating demand in the market.

PRP treatment for alopecia is considered to be safe and free from communicable diseases as it is an autologous product. In terms of post-treatment effects, no serious complications have been recorded, however, minor complications such as bruising, erythema, and crusting are considered to be common.

What is the Scope for Application in Orthopedic and Wound Recovery Treatments?

Being a form of regenerative medicine, PRP offers growth factors and scaffolds that are necessary for tissue regeneration. PRP is increasingly finding applications in surgical and non-surgical procedures including treatment of tendon injuries, cartilage damage, bone pathologies, muscle trauma, and wound healing. 

Osteoarthritis (OA) and cartilage defects are the most commonly observed orthopedic issues, where degeneration of articular cartilage leads to joint destruction. Conventional treatments options of OA include exercise, weight control, bracing, cortisone shots, and viscosupplementation.

However, severely damaged articular cartilage and bone defects pose a challenge for orthopedists due to difficulties in finding an adequate bone substitute, as well as regenerative limitations of cartilage.

Damaged cartilage is treated by microfracture debridement and grafting procedures but the results have been unsatisfactory in most cases, resulting in low mechanical strength in joints. Here, PRP is emerging as a useful treatment option as it accelerated the regeneration process of arthritic cartilage, with high concentrations of growth factors in cells.

PRP also stimulates low cell activity and the technique is affordable while having no side effects and danger to the patients' health. These factors are supporting applications of platelet-rich plasma in orthopedics, thereby facilitating the market growth.

Country-wise Insights

Why is Demand for Platelet Rich Plasma Rising in the U.S.?

According to ESOMAR-certified consulting firm FMI, the U.S. is anticipated to showcase lucrative growth prospects, expanding at a 4.5% CAGR between 2021 and 2031. PRP-based treatments are widely being adopted in the country, with increasing applications in orthopedic and cosmetic procedures.

As per the Plastic Surgery Statistics Report, 15.6 million cosmetic procedures were performed in the U.S. in 2020, with 2.3 million cosmetic surgical procedures and 13.2 million minimally invasive procedures.

Surgical procedures included nose reshaping, facelift, eyelid surgery, and breast augmentation, while non-surgical procedures included soft tissue filler, laser hair resurfacing, and botox.

Reconstructive procedures included tumor removal, maxillofacial surgeries, and scar revision. These procedures actively involve incorporation of platelet-rich plasma, translating into ascending demand for the same.

Besides this, prevalence of leading players in the U.S. including Zimmer Biomet and Dr PRP America, coupled with the country's robust healthcare infrastructure will continue shaping the demand outlook of platelet-rich market during the assessment period. Owing to these trends, the market is expected to account for 3/10th of the total market share.

How Will the PRP Market Expand Across the U.K.?

Sales in platelet-rich plasma market in the U.K. is projected to increase at a CAGR of 5.4% CAGR. Growth can be attributed to increasing incidence of sports-related injuries in the country, along with rising awareness regarding the advantages of PRP in healthcare.

As per FMI's analysis, platelet-rich market in the U.K. is anticipated to expand at a 9.3% CAGR, with the adoption of PRP remaining highest in knee and elbow injuries. Such trends have augmented market growth in the past and will continue fostering sales through 2031.

Additionally, research and development regarding applications of PRP in neurosurgical, periodontal, and urological procedures in the U.K. will further amplify scope for applications of platelets rich plasma in other medical domains.

Why Will Germany Exhibit High Demand for Platelet Rich Plasma?

In Germany, PRP-based treatments are gaining more significance than complex cell-based therapies comparatively.  Increasing research and development in the healthcare sector is spreading awareness regarding the advantages of PRP and promoting its application in various treatments in public interest.

Regenokine, a PRP-based treatment for osteoarthritis developed by a German research-based biotech company, is attracting the attention of numerous professional athletes and sports celebrities for treating fractures, ligament tears, and joint pain.

With the influx of patients seeking optimal medical attention in Germany, demand for platelet-rich plasma is projected to ascend in the upcoming years.

India is Set To Exhibit Increasing Demand

Increasing investments by government, coupled with rising applications of platelet-rich plasma in a variety of surgical and non-surgical procedures will positively shape the demand outlook in India.

The prevalence of high geriatric population and growing incidence of arthritic cases will add to the ever-increasing need for PRP therapies, projects FMI. In addition, increasing research and development in cosmetic procedures including their transplant, fat grafting, and aesthetic skin rejuvenation in India will further propel sales of platelet-rich plasma.

Category-wise Insights

Pure Platelet Rich Plasma Will Lead the Product Segment

Owing to advantages such as enhanced wound healing process, tissue repair, and regeneration, and cost-effectiveness, pure platelet-rich plasma is expected to account for maximum sales, projects FMI in its recent market study.

Notable improvements in overall treatment procedures, coupled with elimination of adverse side effects have augmented demand for pure platelet rich plasma in recent years. P-PRP's ability to treat chronic conditions has encouraged numerous manufacturers to invest heavily in research and development to support the health benefit claims of PRP.

These clinically proven advantages have facilitated growth and development of various PRP products such as PRP kits, thereby increasing scope of market expansion.

Additionally, leukocyte-rich platelet-rich plasma will garner significance in certain markets, owing to increasing commercialization of PRP products and expansions in potential applications across sports-related injuries and general surgeries.

Autologous Platelet Rich Plasma Will Be the Most-Preferred Origin Type

Based on origin, autologous PRPs are expected to register impressive returns, with increasing applications in the treatment of diabetic chronic nonhealing ulcers. Incorporation of autologous PRP promotes safe and effective treatment of stubborn nonhealing ulcers in diabetic patients without causing extreme blood loss.

Autologous PRP contains fibrin and high amounts of growth-inhibiting factors that potentially improve wound healing process. These PRPs are being widely accepted in fat grafting, treatment of foot ulcers, and maxillofacial surgeries.

Cosmetic Surgeries to Dominate the Application Segment, Followed by Orthopedic

With innovations and introduction of advanced PRP treatments in cosmetology, cosmetic surgeries will continue to dominate the application segment throughout the forecast period.

Application of PRP in procedures including skin rejuvenation to improve skin texture and color, acne scar treatment, fat grafting, and laser treatment will actively generate demand for platelet-rich plasma.

Besides this, orthopedic procedures will also foster market sales, owing to the usage of PRPs in arthritic treatments including joint pain, healing damaged cartilage, and ligament injuries.

Competitive Landscape

As per FMI’s analysis, tier-1 players in the market account for approximately 15-20% of the total market share. Leading players operating in the global platelet-rich plasma market are leveraging strategic partnerships, along with intensive research and development for better platelet-rich plasma-based treatment options.

Acquiring patents for new products will also emerge as a beneficial growth strategy, allowing manufacturers to establish a prominent position in the market. For instance:

  • In July 2021, global leader in musculoskeletal healthcare Zimmer Biomet Holdings Inc. announced a strategic partnership with OSSIS, a New Zealand-based company which specializes in hip replacement treatments. The partnership was aimed to market Zimmer Biomet's patient-specific 3D printed titanium hip replacement joints in Asia-Pacific. The partnership will further strengthen Zimmer Biomet's product portfolio of hip replacement solutions and other complementary technologies.
  • In May 2019, Regen Lab SA announced newly acquired U.S. patents covering its Thrombin Serum (TS), Platelet Rich Plasma (PRP) and Hyaluronic Acid (HA) technologies.

Scope of Report

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

USD Million for Value

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa

Key Countries Covered

US, Canada, Germany, U.K., France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, and South Africa

Key Segments Covered

Product Type, Origin Type, Application Type, and Regions

Key Companies Profiled

  • Harvest Technologies Corp.
  • Zimmer Biomet Holdings Inc.
  • Arthrex, Inc.
  • Arteriocyte Medical Systems, Inc.
  • Dr. PRP America
  • Cesca Therapeutics, Inc.
  • Regen Lab SA.

Report Coverage

Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Key Questions Answered in the Report

  • What is the current platelet-rich plasma market value?

    The platelet-rich plasma market will reach a valuation of US$ 370.78 Mn in 2021.

  • At what rate did the platelet-rich plasma market grow between 2016 and 2020?

    The platelet-rich plasma market experienced healthy growth at 11.1% CAGR between 2016 and 2020.

  • What are the key trends driving platelet-rich plasma sales?

    Growing applications of platelet-rich plasma in cosmetic and orthopedic procedures, coupled with increasing investments in healthcare infrastructure across various countries are key trends driving platelet-rich plasma sales.

  • Who are the leading players in the platelet-rich plasma market?

    Leading players operating in the platelet-rich plasma market are Medira Ltd., Regen Lab S.A, Terumo Corporation, Arthrex Inc., and Zimmer Biomet Holding Inc.

  • What will be the demand outlook for North America platelet-rich plasma market?

    North America platelet-rich plasma market is forecast to dominate the market, growing at around 4.5% CAGR during 2021-2031.

  • What is the market share of leading players in platelet-rich plasma market?

    The top 5 players in the platelet-rich plasma market collectively account for 15-20% of global market share in the year 2021.

  • At what rate will platelet-rich plasma demand rise in Europe?

    The platelet-rich plasma market in Europe will expand at approximately 5.4% CAGR between 2021 and 2031.

  • Which are the top countries driving platelet-rich plasma market sales?

    Top countries in terms of platelet-rich plasma sales are the U.S., the U.K., Germany, and India.

  • What is the current market share of Japan and South Korea in the global platelet rich plasma market?

    Japan and South Korea will account for 5% of the global market share in 2021.

Platelet Rich Plasma Market by Category

By Product Type:

  • Pure-Platelet Rich Plasma (P-PRP)
  • Leukocyte-Platelet Rich Plasma (L-PRP)
  • Leukocyte-Platelet Rich Fibrin (L-PRF)

By Origin Type:

  • Autologous
  • Homologous
  • Allogenic

By Application Type:

  • Orthopedic Surgery
  • Cosmetic Surgery
  • General Surgery
  • Neurosurgery
  • Other Surgeries (Urological, Cardiothoracic, Periodontal and Oral and Maxillofacial)

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East and Africa

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