Fort Collins, Colorado, May 07, 2024 (GLOBE NEWSWIRE) --
The rise in demand for aesthetic and cosmetic skin procedures drives the industry demand.
The platelet rich plasma (PRP) market has experienced notable growth, driven by the increasing demand for PRP in aesthetic and cosmetic procedures. PRP therapy has emerged as a popular choice for skin rejuvenation, hair restoration, and facial aesthetics due to its natural and minimally invasive nature. According to the American Society of Plastic Surgeons (ASPS), approximately 26.2 million surgical and minimally invasive cosmetic and reconstructive procedures were conducted in the United States in 2022, indicating a growing interest in PRP-based treatments. Consumer awareness regarding the benefits of PRP, such as its capacity to stimulate collagen production, enhance skin texture, and encourage hair growth, has further fueled its adoption in the aesthetic industry.
The platelet rich plasma market presents significant opportunities in wound healing and regenerative medicine. PRP has shown promising results in accelerating the healing process of chronic wounds, diabetic ulcers, and surgical incisions. According to the World Health Organization (WHO), chronic wounds affect approximately 1-2% of the population in developed countries, and their prevalence is expected to rise due to the increasing aging population and the growing incidence of diabetes and obesity.
The ability of PRP to promote tissue regeneration, enhance angiogenesis, and modulate inflammation has positioned it as a potential game-changer in wound management. Furthermore, the expanding research and development activities focusing on applying PRP in regenerative medicine, such as cartilage repair, bone regeneration, and nerve regeneration, are expected to open up new avenues for market growth in the coming years.
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Segmentation Overview:
The platelet rich plasma market has been segmented into product, application, end-user, and region.
Orthopedic surgery is a dominant application segment and continues to retain a prominent position in the forecast period.
- Based on the market segmentation by application, the orthopedic surgery segment dominated the platelet rich plasma market in 2023. The widespread use of PRP in treating various orthopedic conditions, such as tendinopathies, ligament injuries, and osteoarthritis, has driven the growth of this segment.
Pure platelet rich plasma is a leading product segment.
- Based on the market segmentation by product, the pure platelet rich plasma segment held the largest market share for platelet rich plasma market in 2023. Pure PRP is widely used in various applications due to its high concentration of growth factors and minimal contamination with other blood components, making it a preferred choice for many practitioners.
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Platelet Rich Plasma Market Report Highlights:
- The platelet rich plasma market growth is anticipated at a CAGR of 15.9% by 2032.
- The growing prevalence of sports-related injuries and the rising demand for minimally invasive treatments have significantly contributed to the adoption of platelet rich plasma (PRP) in sports medicine and orthopedics.
- The Asia-Pacific is expected to exhibit a high growth rate during the forecast period. Increasing healthcare expenditure and the growing medical tourism industry in countries like India, Thailand, and South Korea are expected to contribute to the growth of the PRP market in Asia-Pacific.
- Some prominent players in the platelet rich plasma market report include EmCyte Corporation, Arthrex, Zimmer Biomet, Terumo BCT, Dr. PRP USA, Harvest Technologies, Stryker, DePuy Synthes, Regen Lab, and Glofinn.
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