Platelets-Rich Plasma Market Overview:
According to the American Society of Plastic Surgeons, around 17.5 million cosmetic surgeries were performed in the U.S. in 2017. Wound care treatment and management is the foremost post-surgical requirement in every medical sector. Advancements in bioengineering have led to the development of platelet-rich plasma (PRP), which is slowly gaining traction as a crucial component in modern surgical wound-healing, hemostasis, and blood coagulation processes.. Otherwise known as autologous conditioned plasma, PRP is a derivative formed through centrifugation of whole blood, a process which removes red blood cells. Preparation of PRP can be categorized on the basis of leukocyte and fibrin content which generally includes leukocyte-rich PRP (L-PRP), leukocyte reduced PRP (P-PRP), leukocyte reduced (pure PRP), leukocyte platelet-rich fibrin, and pure platelet-rich fibrin. PRP therapies find wide application in neurosurgery, orthopedic surgery, oral and maxillofacial surgery, and dental implants, owing to their ability to promote bone and tissue reconstruction and assist in the healing of wounds. All these factors have significantly propelled the global PRP market, causing it to cross a valuation of $220m in 2018. During the forecast period 2019 to 2025, the PRP therapy market, especially in the orthopedic segment is estimated to grow at a CAGR of 25%.
Platelets-Rich Plasma Market Outlook:
Increasing number of surgeries, chronic wounds, and orthopedic injuries is boosting the global PRP market which is expected to increase at a CAGR of 12.32% through to 2025. According to the American Academy of Derma, hair loss affects nearly 10 million people in the U.S. PRP therapy for hair loss, which involves injecting the plasma into hair follicles in a bid to induce blood flow and hair thickness and regrowth, is gaining popularity in this region. Along with this, the increasing popularity of cosmetic surgery, growing preference for non-operative medical solutions, advanced healthcare infrastructure and increasing medical tourism led to North America holding a market share of 38% in 2018.
Platelets-Rich Plasma Market Growth Drivers:
· Increasing health awareness, high levels of efficacy in treating various chronic injuries, and increasing demand for cosmetic and hair loss treatment are leading to growth for the platelet-rich plasma market.
· Non-invasive PRP injection therapy reduces osteoarthritic pain, and induces tissue healing properties, thereby fueling demand for the PRP market.
· PRP is emerging as an elite alternative to more conventional forms of wound healing for tissue engineering and cellular therapy, after having shown promising results during tests by medical organizations.
Platelets-Rich Plasma Market Challenges:
One of the major drawbacks affecting the platelets-rich plasma market is the high-cost treatment procedure, resultant tissue and nerve damage, and infection in the treated area. Despite these minor challenges, popularity of PRP therapy is peaking owing to technological innovations by healthcare agencies and the leading market companies.
Platelets-Rich Plasma Market Key Players:
The leading players of the PRP market include Zimmer Biomet, Exactech, Inc., Terumo BCT, T-Biotechnology (T-LAB), esca Therapeutics, Inc., ISTO Biologics, DePuy Synthes, Inc., Glofinn Oy, Arthrex, Inc., EmCyte Corporation, and others.
ISTO Biologics is an orthobiologic technology company which provides new innovations and efficient services to medical professionals. Their Magellan Autologous Platelet Separator system enables quick generation of PRP which can be used for several biomedical and clinical testing procedures.
Platelets-Rich Plasma Market Trends:
· PRP For Facial Rejuvenation:
Increasingly adverse effects of botox and fillers in modern facial cosmetic treatments have increased demand for PRP therapy. The minimally invasive micro needling PRP treatment effectively improves the natural collagen build up, rejuvenates the skin, and removes facial scars through quicker healing of soft tissues, and is thereby emerging as an alternative to conventional facial therapies.
· Application in Hair Loss Therapy:
Baldness and hair fall is one of the most common problems faced by people globally. PRP, which involves hair loss treatment using one’s own plasma, has emerged as an innovative new solution for hereditary hair loss problems.
Platelets-Rich Plasma Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the platelets-rich plasma market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of platelets-rich plasma in platelets-rich plasma market, and their specific applications in different areas.
Platelets-Rich Plasma Market: Industry Coverage:
The segmentation of global PRP market can be done by type, source, application, and growth factor molecules. Based on the type bifurcation includes leucocyte-rich PRP, pure PRP, PRP gel, pure platelet-rich fibrin, and so on. Categorization on the basis of source includes homologous, autologous, allogeneic, and other PRP. By application the PRP market can be divided into general surgery, neurosurgery, cosmetic surgery, periodontal surgery, orthopedic/spinal surgery, and others. Classification based on growth factor molecules includes platelet-derived growth factor (PDGF), vascular endothelial growth factor (VEGF), epidermal growth factor (EGF), fibroblast growth factor-2 (FGF-2), insulin-like growth factor (IGF), and others.
The platelets-rich plasma market also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
• North America: The U.S., Canada, Mexico
• South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
• Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
• APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
• Middle East and Africa: Israel, South Africa, Saudi Arabia