Newark, Oct. 27, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global platelet-rich plasma market is expected to grow from USD 644.90 million in 2021 to USD 2006.26 million by 2030, at a CAGR of 13.44% during the forecast period 2022-2030.
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Platelet-rich plasma is a procedure with low risk as it does not possess any major side harms. The patient's plasma and cells make platelet-rich plasma. The platelet-rich plasma injections consist of concentrated plasma, which accelerates the recovery of injuries to muscles, joints, ligaments, and tendons. Thus, platelet-rich plasma injections use the patient body’s healing capability to improve musculoskeletal disorders. The manufacturing of platelet-rich plasma results in the accumulation of activated platelets directly injected into the damaged body tissues. PRPs reduce the requirement for high-power medicines and anti-inflammatories. The concentrated platelets contain protein which enables the growth of cells in different parts of the human body. With the help of PRP, the treatment can be targeted to heal wounds faster. The use of platelet-rich plasma has gained many applications in clinical applications.
The use of platelet-rich plasma is gaining popularity among plastic surgeons and dermatologists. There has been a surge in cosmetic surgical procedures due to increasing per capita income and more focus on appearance. Some of the most preferred cosmetic surgical procedures include facelifts and liposuction. At the same time, many consumers are inclined toward minimally invasive surgery. Companies involved in the platelet-rich plasma market are expanding the reach of their services to tap into more consumer base. The clinical trials of platelet-rich plasma have increased amid covid-19. The FDA has received several registrations for anti-virus drug trials containing platelet-rich plasma. Thus, on the demand side, the prevalence of several chronic diseases, including orthopedic and cardiology disorders, and the growing incidence of the pandemic have resulted in the lucrative growth of the platelet-rich plasma market. PRP is not yet a standard procedure; however, many patients are willing to opt for a PRP treatment, witnessing its success rate.
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Key players operating in the global platelet-rich plasma market are Johnson & Johnson, EmCyte Corporation, Arthrex, Inc., Juventix, DR. PRP AMERICA, LLC, Terumo Corporation, Stryker, Zimmer Biomet, Celling Biosciences, Apex Biologix, AdiStem Ltd., ThermoGenesis Holdings Inc., Exactech Inc., Harvest Technologies Inc., Cesca Therapeutics Inc., Regen Lab, ISTO Biologics, Terumo BCT Inc., among others. To enhance their market position in the global platelet-rich plasma market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
The autologous segment held the highest share of around 43.72% and a market value of USD 281.95 million in 2021.
The origin segment is divided into homologous, allogeneic, and autologous. The autologous segment held the highest share of around 43.72% and a market value of USD 281.95 million in 2021. Autologous PRPs are beneficial for treating certain dermatological conditions, including chronic ulcers that are not healing for quite a time. Countries with growing dermatology departments have a higher demand for the autologous origin of platelet-rich plasma.
The leukocyte-rich platelet-rich plasma segment ought to grow at the highest CAGR during the forecast period.
The type segment is divided into pure platelet-rich plasma, leukocyte-rich platelet-rich plasma, and others. The leukocyte-rich platelet-rich plasma segment ought to grow at the highest CAGR during the forecast period. Leukocyte-rich platelet-rich plasma is widely used in orthopedic, general surgery, sports injuries, etc. The regeneration of bone necessitates the use of leukocyte-rich platelet-rich plasma. It is even used to manage knee arthritis to reduce the patient's pain.
The dermatology segment ought to grow at the highest CAGR during the forecast period.
The application segment is divided into general surgery, sports medicine, ophthalmic surgery, orthopedics, neurosurgery, dermatology, cardiology, urological, and others. The dermatology segment ought to grow at the highest CAGR during the forecast period. Dermatology has comprehensive usage of platelet-rich plasma for skin and hair treatment. Nowadays, dermatologists use platelet-rich plasma in micro-needling procedures for skin lifting. Further, it even increases dermal cells responsible for the growth of hair follicles. It can either be used as a standalone procedure or integrated with the conventional hair transplant process.
The hospital's segment held the highest share of around 49.37% and a market value of USD 318.38 million in 2021.
The end-user segment is divided into hospitals, research institutes, and clinics. The hospital's segment held the highest share of around 49.37% and a market value of USD 318.38 million in 2021. Hospitals have different departments allotted to dermatology, cardiology, orthopedics, neurology, etc. Platelet-rich plasma is now widely used in most of the departments mentioned above. Thus, the use of PRPs is high in hospitals due to high demand from multiple departments.
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Regional Segment Analysis of the Platelet Rich Plasma Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the North American region emerged as the largest market for the global market, with a market share of 41.17% in the year 2021. The region has a high percentage of the population suffering from long-term diseases related to bones, muscles, heart, etc. Platelet-rich plasma is used for the management of acute pain and fast recovery. Further, the players engaged in platelet-rich plasma are adopting several strategies to expand their presence across healthcare facilities, dermatology clinics, etc. The established healthcare institutions and constant support from the local government regarding research and development of new therapies are some of the lucrative opportunities the region holds for the PRP market. The United States accounted for the largest country-level share in 2021. U.S. hospitals and clinics are procuring high amounts of platelet-rich plasma. The regulatory agencies present in the U.S. are granting support in favor of PRP treatments witnessing positive responses. The end-users and manufacturers in the region are keen on standardizing the PRP treatments to penetrate the market further.
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About the report:
The global platelet-rich plasma market is analyzed based on value (USD Million). All the segments have been analyzed globally, nationally, and country. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining key insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, and distribution and marketing channels analysis.
About The Brainy Insights:
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