Austin, Dec. 05, 2024 (GLOBE NEWSWIRE) -- The S&S Insider report indicates that, “The Platelet Rich Plasma Market is experiencing explosive growth, with projections indicating a dramatic increase from USD 0.75 billion in 2023 to USD 2.62 billion by 2032 representing a Compound Annual Growth Rate (CAGR) of 14.98% over the forecast period.”
Rising Demand and Growing Applications
PRP has become a cornerstone in modern medical treatments, particularly for osteoarthritis, sports injuries, and hair loss. In aesthetics, it plays a pivotal role in non-invasive procedures like skin rejuvenation and hair restoration. As more patients seek alternatives to traditional methods, the demand for PRP has skyrocketed due to its proven ability to promote healing and tissue regeneration.
PRP’s success in regenerative medicine and aesthetic applications is reshaping patient care, offering a safer and effective alternative to invasive treatments. Technological advancements in PRP preparation systems are making treatments more accessible and cost-effective, accelerating its widespread adoption."
The growing popularity of PRP expanding into new territories, including cardiovascular and neurodegenerative disease treatments. With its exceptional safety profile, PRP is becoming a preferred solution for many looking for natural healing options.
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Key Companies:
- Johnson & Johnson Services, Inc. (PRP Concentrate, Gelfoam)
- Arthrex, Inc. (Angel PRP System, Arthrex Biologics)
- EmCyte Corporation (PurePRP, EmCyte PRP)
- Dr PRP USA LLC (Dr. PRP System, Dr. PRP Kit)
- Juventix Regenerative Medical, LLC. (Juventix PRP, Juventix XPRP System)
- Terumo Corporation (Terumo BCT, Terumo Autologous Platelet Rich Plasma System)
- Zimmer Biomet (Biomet PRP, Zimmer Biomet PRP Kit)
- Stryker (Tissue Regeneration System, Stryker PRP System)
- Apex Biologix (ApexPRP, Apex Biologix Centrifuge)
- Celling Biosciences, Inc. (ProGen PRP System, Glo PRP Kit)
- Harvest Technologies Corp. (Harvest PRP, Harvest Bone Marrow Aspiration System)
- Arteriocyte Medical Systems, Inc. (Magellan PRP, Magellan Autologous Platelet Concentrate System)
- Cesca Therapeutics, Inc. (AutoXpress System, ThermoGenesis PRP)
- Regen Lab SA. (Regen PRP, Regen Kit)
- Isto Biologics (IstoBone, PRP Kit)
- RegenOrthoSport (Regen PRP, RegenOsteo Kit)
- Vivostat (Vivostat PRP, Vivostat System)
- BioStem Technologies, Inc. (BioPrP, BioStem PRP Kit)
- Lonza Group (Lonza PRP, Lonza Cell Therapy System)
- EmCyte Corporation (EmCyte PurePRP, EmCyte PRP Kit)
- OrthogenRX, Inc. (Prolozone, Prolozone PRP Kit)
- Regenexx (Regenexx PRP, Regenexx Stem Cell Kit)
- Biolife Plasma Services (Biolife PRP, Biolife Autologous PRP System)
Platelet Rich Plasma (PRP) Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 0.75 Billion |
| Market Size by 2032 | USD 2.62 Billion |
| CAGR | CAGR of 14.98% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Pure Platelet Rich Plasma, Leukocyte Rich Platelet Rich Plasma, Others) • By End Use (Hospitals, Clinics, Others) • By Application (Orthopedics, Neurology, Cosmetics, Wound Care, Others) |
| Key Drivers | • Increasing Demand for PRP Therapy Driven by Orthopedic and Sports Injury Prevalence. • Increase in Demand for PRP Therapy Due to Regenerative Medicine Advancements. |
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Market Segmentation
By Type
In 2023, the Pure Platelet Rich Plasma (PRP) segment led the market with approximately 54% of the revenue share. Its dominance is attributed to its proven effectiveness in promoting healing, particularly in orthopedic and aesthetic applications. The absence of leukocytes reduces inflammation risks, making Pure PRP a preferred option among healthcare professionals.
Conversely, the Leukocyte Rich Platelet Rich Plasma (LR-PRP) segment is expected to grow at the highest CAGR of 16.52% between 2024 and 2032. The higher concentration of white blood cells in LR-PRP enhances tissue regeneration, making it increasingly popular for treating chronic conditions. Growing clinical evidence highlighting its benefits, especially for musculoskeletal treatments, is driving its rapid adoption and market expansion.
By End Use
The Hospitals segment dominated the platelet rich plasma (PRP) market in 2023, holding around 53% of the revenue share. This dominance is largely due to hospitals' advanced infrastructure and skilled medical staff, which allow for the efficient administration of PRP therapies. Additionally, hospitals’ capacity to offer a wide variety of treatments, from orthopedic surgeries to cosmetic procedures, strengthens their leadership in the market.
The Clinics segment is expected to grow at the highest CAGR of 16.65% from 2024 to 2032. With increasing demand for non-invasive procedures such as aesthetic treatments and joint pain management, clinics are emerging as key destinations for PRP therapies. Their accessibility, personalized services, and quicker treatment times position them well for significant market expansion.
By Application
In 2023, the Orthopedics segment led the platelet rich plasma (PRP) market, capturing around 44% of the revenue share. This leadership is due to the increasing use of PRP therapies for musculoskeletal conditions, such as osteoarthritis and tendon injuries. PRP's effectiveness in promoting tissue healing and its non-invasive nature has made it a preferred treatment in orthopedic procedures.
Conversely, the Cosmetics segment is expected to experience the fastest growth, with a projected CAGR of 16.59% from 2024 to 2032. Rising demand for minimally invasive cosmetic treatments like facial rejuvenation and hair restoration is driving this growth. PRP's ability to promote collagen production and improve skin texture makes it a valuable tool in aesthetic medicine, supporting its rapid expansion in the cosmetics sector.
Regional Insights: North America Leads, Asia Pacific Grows Rapidly
North America maintained its position as the leader in the PRP market in 2023, capturing 44% of the total share. The region benefits from cutting-edge healthcare infrastructure and high levels of patient awareness, with the U.S. and Canada being key markets for PRP therapies.
In contrast, Asia Pacific is poised for the fastest growth, with a projected CAGR of 16.83%. Countries like Japan, South Korea, and India are witnessing increased interest in PRP for both cosmetic and regenerative treatments, driven by rising disposable incomes and improved healthcare access.
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Recent Developments
- In February 2024, entrepreneur Bryan Johnson, known for his age-reversing practices, shared his use of PRP for hair restoration. His endorsement has added to PRP’s growing popularity in the aesthetics sector.
- In January 2024, RegenLab USA expanded its headquarters in Jersey City, New Jersey, enhancing its research and manufacturing capabilities to meet the rising demand for PRP-based products.
Table of Contents – Major Key Points
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Incidence and Prevalence (2023)
5.2 Prescription Trends, (2023), by Region
5.3 Drug Volume: Production and usage volumes of pharmaceuticals.
5.4 Healthcare Spending: Expenditure data by government, insurers, and out-of-pocket by patients.
6. Competitive Landscape
6.1 List of Major Companies, By Region
6.2 Market Share Analysis, By Region
6.3 Product Benchmarking
6.3.1 Product specifications and features
6.3.2 Pricing
6.4 Strategic Initiatives
6.4.1 Marketing and promotional activities
6.4.2 Distribution and supply chain strategies
6.4.3 Expansion plans and new product launches
6.4.4 Strategic partnerships and collaborations
6.5 Technological Advancements
6.6 Market Positioning and Branding
7. Platelet Rich Plasma Market Segmentation, by Type
7.1 Chapter Overview
7.2 Pure Platelet Rich Plasma
7.3 Leukocyte Rich Platelet Rich Plasma
7.4 Others
8. Platelet Rich Plasma Market Segmentation, by Application
8.1 Chapter Overview
8.2 Orthopedics
8.3 Cosmetics
8.4 Wound Care
8.5 Neurology
8.6 Others
9. Platelet Rich Plasma Market Segmentation, by End Use
9.1 Chapter Overview
9.2 Hospitals
9.3 Clinics
9.4 Others
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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