Redding, California, July 27, 2023 (GLOBE NEWSWIRE) -- According to a new market research report, ‘Asia-Pacific Plasma Therapy Market, By Type (Pure Platelet-rich Plasma, Platelet-rich Fibrin), Application (Orthopedics, Dermatology, Cosmetology, Rheumatology, Ophthalmology, Stomatology), and End User (Hospitals & Clinics, Research Institutes) - Forecast to 2030,’ published by Meticulous Research®, the Asia-Pacific plasma therapy market is expected to reach $214 million by 2030 at a CAGR of 13.4% from 2023 to 2030.
Plasma therapy is a part of regenerative medicine that uses injections of a concentration of patients’ platelets to speed up the healing process of injured joints, ligaments, tendons, and muscles. Alternatively, platelet-rich plasma (PRP) therapy uses an individual patient's healing system to recover from musculoskeletal problems. PRP therapy is also used in cosmetics to treat hyperpigmentation, reduce acne scars, stimulate collagen production, improve hair health, and others.
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The growth of the Asia-Pacific plasma therapy market is attributed to the increasing awareness of platelet-rich plasma (PRP) therapy, rising healthcare expenditure in Asia-Pacific countries, and increasing cosmetic procedures. However, the stringent regulatory framework for PRP use is the major challenging factor observed in this market, and the availability of alternatives for PRP treatment and side effects associated with PRP may restrain the growth of the platelet-rich plasma (PRP) therapy market to some extent during the forecast period.
Increasing Applications of PRP Treatments is Providing Opportunities for Market Growth
With the rapid boom of cosmetic and aesthetic procedures, platelet-rich plasma has paved the way in therapeutic applications. Highly advanced orthopedic facilities and multispecialty hospitals have professionals considering platelet-rich plasma as an effective pain management strategy among people undergoing orthopedic surgeries or suffering from conditions such as arthritis, tennis knee, and tendonitis.
Furthermore, the treatment has applications in acute sports injuries, including thigh and knee sprains. The increasing prevalence of sports injuries in Asia-Pacific has provided market growth opportunities in recent years. For instance, according to the Australian Institute of Health and Welfare, 66,500 sport injury-related hospitalizations were recorded in 2020–2021. PRP therapy has been gaining traction in dermatological applications such as wound healing, scar revision, skin regeneration and rejuvenation, and alopecia.
PRP has also been researched for its beneficial effects in cancer treatment. According to a research article published in Helion in March 2020, PRP was a feasible therapeutic alternative to treat bladder cancer. The research stated that new aspects concerning nitric oxide’s ability to restrain platelet adhesion and aggregation for slowing metastasis in cancer offer an important advantage to cancer patients. The rising applications of platelet-rich plasma in medical therapies and procedures are expected to offer significant growth opportunities to the market players operating in the Asia-Pacific plasma therapy market.
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The report includes an extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past years (2020–2023). The key players operating in the Asia-Pacific plasma therapy market are Arthrex, Inc. (U.S.) DePuy Synthesis, Inc. (Johnson & Johnson) (U.S.), Global Stem Cells Group, Inc.(U.S.), Terumo Corporation (Japan), Regen Lab SA (Switzerland), Stryker Corporation (U.S.) Zimmer Biomet Holdings, Inc. (U.S.), Exactech Inc. (U.S.), Beijing Manson Technology Co., Ltd. (China), Alocuro (Australia), Takeda Pharmaceutical Company Limited (Japan), Grifols, S.A.(Spain), Octapharma AG (Switzerland), and CSL Limited (Australia).
The Asia-Pacific plasma therapy market is segmented by Type (Pure PRP, Leukocyte-rich PRP, Pure Platelet-rich Fibrin, and Leukocyte and Platelet-rich Fibrin), Application (Orthopedics & Traumatology, Rheumatology, Dermatology & Cosmetology, Ophthalmology, Stomatology & Odontology, and Other Applications), End User (Hospitals & Clinics & Research Institutes), and country. The study also evaluates industry competitors and analyzes their market share at the country level.
Among all types studied in this report, the leukocyte-rich PRP segment is expected to record the highest CAGR during the forecast period. The growth of the leukocyte-rich PRP segment is driven by the application of leukocyte-rich PRP to treat ankle sprains, muscle injuries, fractures, aesthetic plastic surgery, regenerative medicine, and skin and chronic wound healing. Additionally, leukocyte- and platelet-rich plasma (L-PRP) consists of high concentrations of platelets, leukocytes, and other bioactivities that play a prominent role in bone and soft tissue healing processes. Thus, the positive effects of L-PRP in certain medical applications for therapeutic purposes are expected to account for the segment’s growth over the forecast years.
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Among all applications studied in this report, in 2023, the orthopedics & traumatology segment is expected to account for the largest share of the market. The largest market share of the segment is attributed to the improved healing process, less recovery time, significant pain relief, and minimally invasive procedures.
Among all end users studied in this report, in 2023, the hospital & clinics segment is expected to account for the largest share of the market. The largest market share of the segment is attributed to the increasing number of arthritis patients receiving PRP therapy as a part of disease management is likely to increase patient footfall in hospitals & clinics. Additionally, due to fewer side effects and higher efficacy in hair restoration, doctors and physicians prescribing PRP treatment to patients for hair restoration contribute to the largest share of the segment.
Among all countries studied in this report, in 2023, Japan is expected to account for the largest share of the Asia-Pacific plasma therapy market. The large market share of the country is attributed to the growing number of accidents in the country, and growth in the geriatric population is increasing the demand for dermatological, orthopedic, ophthalmology, and other applications of PRP therapy. For instance, according to the data published by the World Bank Group, in 2021, 37.4 million were aged 65 years and above, an increase from 34.7 million in 2015.
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Scope of the Report:
Asia-Pacific Plasma Therapy Market Assessment - by Type
- Pure PRP
- Leukocyte-rich PRP
- Pure Platelet-rich Fibrin
- Leukocyte And Platelet-rich Fibrin (L-PRF)
Asia-Pacific Plasma Therapy Market Assessment - by Application
- Orthopedics & Traumatology
- Rheumatology
- Dermatology & Cosmetology
- Ophthalmology
- Stomatology & Odontology
- Other Applications
(Other Applications include Sexual Health, Infertility Support, Migraine, and Neurological Issues.)
Asia-Pacific Plasma Therapy Market Assessment - by End User
- Hospitals & Clinics
- Research Institutes
Asia-Pacific Plasma Therapy Market Assessment - by Country
- China
- Japan
- India
- South Korea
- Australia
- Singapore
- Rest of Asia Pacific
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