Platelet Rich Plasma (PRP) Market Size, Share, Trends, Industry Analysis Report: By Type, By Application, By End-Use (Hospitals, Clinics, and Others), and By Region (North America, Europe, Asia-Pacific, Middle East & Africa, And Latin America) – Market Forecast, 2024 - 2032
- Published Date:Aug-2024
- Pages: 116
- Format: PDF
- Report ID: PM5030
- Base Year: 2023
- Historical Data: 2019-2022
Report Outlook
The global platelet rich plasma market size was valued at USD 823.17 million in 2023. The market is projected to grow from USD 932.66 million in 2024 to USD 2,783.89 million by 2032, exhibiting a CAGR of 14.5% during the forecast period.
The global PRP market is poised for growth due to several factors, including the increasing utilization of PRP for treating chronic ailments such as orthopedic, cardiovascular, and neurovascular diseases, as well as its application in general surgery and wound management.
PRP therapy is a medical treatment that harnesses the healing properties of platelets found in the patient's blood to stimulate tissue repair and regeneration. The procedure involves drawing a small amount of blood from the patient, which is then processed to concentrate the platelets. These platelets, rich in growth factors and other bioactive proteins, are injected into the targeted area, such as joints, tendons, or skin, to promote healing and reduce inflammation.
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PRP therapy is used across various medical specialties, including orthopedics, dermatology, and sports medicine. In orthopedics, it's commonly employed to treat conditions like tendonitis, ligament injuries, and osteoarthritis. In dermatology, PRP is utilized for rejuvenation treatments, aiding in collagen production and enhancing skin texture and tone. The therapy is favored for its minimally invasive nature and the fact that it uses the patient's blood, reducing the risk of adverse reactions.
The rising demand for cosmetic procedures has also contributed to the expansion of this platelet rich plasma market growth. For instance, in 2020, the American Society of Plastic Surgeons reported a 25% uptick in PRP usage for cosmetic purposes over the previous four years.
Several factors are driving the platelet rich plasma (PRP) market growth, such as a growing aging population, a higher incidence of orthopedic and sports-related injuries, and the growing acceptance of PRP as an effective treatment option. It is effective in treating conditions such as rotator cuff injuries, tendon damage, and plantar fasciitis. PRP stimulates the growth of new tissues to replace damaged ones, the same as cartilage injuries. Its capacity to reduce swelling and scar tissue formation enhances the healing process and results in improved functionality and strength in muscles, tendons, and other tissues.
Platelet Rich Plasma Market Drivers and Trends
Rise in Demand for PRP in Cosmetic Surgeries and Dermatology
Platelet-rich plasma has gained remarkable popularity within the field of cosmetic surgery and dermatology for its potential to enhance skin rejuvenation and expedite the healing process. It is administered either topically or through injections into the skin, with the aim of stimulating collagen production, refining skin texture, minimizing fine lines and wrinkles, and achieving an overall revitalized facial appearance. Moreover, PRP is strategically injected into the scalp to encourage hair growth, enhance hair thickness, and combat hair thinning in individuals grappling with conditions like androgenetic alopecia (common male and female pattern baldness).
The evolving and expanding role of platelet-rich plasma in plastic surgeries is anticipated to provide a significant boost to the global platelet-rich plasma (PRP) market in the foreseeable future. For instance, a press release from the American Society of Plastic Surgeons on December 23, 2020, highlighted the substantial improvements observed in utilizing platelet-rich plasma to leverage the body's innate tissue repair processes.
The market CAGR for platelet-rich plasma treatments is expected to witness substantial growth due to the advancements mentioned above. Moreover, increasing preference for minimally invasive treatments, positions PRP as a key product in the future of aesthetic medicine. Consequently, the global PRP market is poised for significant expansion, driven by its proven benefits and growing demand across various therapeutic and cosmetic applications.
Increasing Geriatric Population and Occurrence of Orthopedic and Sports Injuries
PRP injections have become a prominent treatment for tendon, muscle, and ligament injuries, as they expedite healing by injecting concentrated platelets into the injured area. This type of treatment reduces pain and inflammation, benefiting conditions such as tendonitis and arthritis.
The rising incidence of orthopedic surgeries and arthritis globally has fueled PRP demand. According to the Centers for Disease Control and Prevention (CDC), by 2040, 78 million U.S. adults are expected to have arthritis, highlighting the growing need for effective treatments such as PRP. The adoption of PRP in sports rehabilitation underscores its transformative potential. Consequently, the platelet rich plasma market revenue is poised for a significant growth, driven by these trends.
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Platelet Rich Plasma Market Segment Insights
PRP Market Breakdown by Type Insights
The global platelet rich plasma (PRP) market segmentation, based on type, includes Pure Platelet-Rich Plasma (P-PRP), Leukocyte-and Platelet-Rich Plasma (L-PRP), Pure Platelet-Rich Fibrin (P-PRF), and Leukocyte- and Platelet-Rich Fibrin (L-PRF). In 2023, the pure platelet-rich plasma (P-PRP) segment dominated the market, accounting for 30.4% of market revenue (250.31 million). P-PRP or L-PRP, is a refined form of PRP that lacks leukocytes and features a low-density fibrin network when activated. P-PRP is obtained through blood centrifugation and contains a high concentration of platelets and growth factors. Its unique properties, suitable for both liquid applications and as an activated gel, have attracted significant interest and investment in research and development. The rising demand for PRP is driven by P-PRP's effectiveness in treating chronic conditions and aiding tissue repair and regeneration. This has led to increased adoption in medical treatments, highlighting its potential health benefits.
Platelet Rich Plasma Market Breakdown by Application Insights
The global platelet rich plasma (PRP) market segmentation, based on application, includes orthopedics, sports medicine, general surgery, dermatology, ophthalmology, neurology, cardiology, and others. The general surgery category is expected to register a 15.7% CAGR over the forecast period. General surgery is a specialized field covering a wide range of procedures, including those involving the alimentary tract, abdomen, breast, soft tissue, head and neck, and more. General surgeons play a crucial role in providing comprehensive surgical care. The increasing use of PRP in soft tissue and wound management by general surgeons enhances postoperative recovery, reduces complications, and drives the growth of the platelet rich plasma (PRP) market. The benefits of PRP in promoting healing and reducing inflammation are becoming more recognized, fostering its adoption in surgical practices. This synergy between general surgery and PRP therapy is set to shape the future of surgical healthcare.
Global Platelet Rich Plasma Market, Segmental Coverage, 2019-2032 (USD million)
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Source: Secondary Research, Primary Research, PMR Database, and Analyst Review
Platelet Rich Plasma Regional Insights
By region, the study provides market insights into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. North America led the global platelet rich plasma (PRP) market in 2023, driven by rising demand for cosmetic surgeries, a high prevalence of orthopedic procedures, and increasing sports-related injuries. The significant number of arthritis cases further propels PRP demand. Also, the role of PRP in plastic surgeries and sports injury treatments, particularly in the U.S. and Canada, contributes to platelet rich plasma (PRP) market growth. The region's awareness of PRP benefits, coupled with active research and the high rate of sports participation among youth, supports this trend. PRP's diverse applications, including anti-aging and musculoskeletal treatments, continue to drive market expansion in North America.
Global Platelet Rich Plasma Market, Regional Coverage, 2019-2032 (USD million)
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Source: Secondary Research, Primary Research, PMR Database, and Analyst Review
Platelet rich plasma market in Europe accounts for the second-largest market share, driven by the widespread adoption of PRP therapy for the treatment of musculoskeletal injuries. Conditions such as Achilles tendinopathy, plantar fasciitis, and tennis elbow are driving the platelet rich plasma (PRP) market growth. PRP therapy is gaining popularity for treating sports-related and geriatric injuries. Key players in Europe, such as Stryker Corporation and Johnson & Johnson, are boosting market dynamics with their PRP products. The rise in musculoskeletal injuries, particularly among elite female basketball players, further propels the European platelet rich plasma (PRP) market expansion.
German platelet rich plasma (PRP) market held the largest market share and is expected to be the fastest growing country in the European region. The growth of PRP in Germany has been notable in recent years, driven by various factors and a growing interest in regenerative medicine for orthopedics and sports, the aging population and cosmetics, wound healing, dental and oral health, etc. PRP therapy has gained popularity in orthopedics and sports medicine in Germany. Athletes and individuals with musculoskeletal injuries, such as tendonitis or osteoarthritis, have sought PRP as a non-surgical treatment option. The potential for PRP to accelerate healing and reduce pain has made it a preferred choice for many.
The Asia Pacific platelet rich plasma market is expected to grow at the highest CAGR from 2024 to 2032. The increasing prevalence of orthopedic, neurological, and cardiovascular diseases in the region, alongside a rising incidence of sports injuries, has created a critical demand for PRP therapies. Moreover, China’s platelet rich plasma market held the largest market share in 2023, driven by its application in non-invasive cosmetic procedures such as the PRP Facial Treatment. On the other hand, platelet rich plasma (PRP) market in India is expected to continue its steady growth during the forecast period.
Platelet Rich Plasma Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the platelet rich plasma (PRP) market grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global platelet rich plasma (PRP) market to benefit clients and increase the market sector. In recent years, the market has offered some technological advancements. Major players in the platelet rich plasma (PRP) market, including Vivostat, Arthrex Inc., RegenOrthoSport, Dr. PRP USA LLC, Juventix Regenerative Medical, LLC, Terumo Cardiovascular Systems Corporation, Zimmer Biomet, Isto Biologics, Apex Biologix, and Regen Lab SA.
Arthrex is a global innovator in orthopedic medical education and equipment manufacturing, specializing in arthroscopic instruments and Ortho biologics like PRP and stem cell therapies for tissue healing and regeneration. In January 2023, Arthrex, Inc. acquired Celling Biosciences, a company specializing in the development and manufacturing of PRP products. This strategic acquisition positions Arthrex to broaden its range of PRP offerings and extend its reach to a broader patient base
Zimmer Biomet is a global medical device company that specializes in musculoskeletal healthcare, offering a diverse portfolio including orthopedic implants, surgical solutions, and biologics for joint reconstruction, sports medicine, and related therapies. In March 2023, Zimmer Biomet acquired EmCyte Corporation, specializing in the development and manufacturing of PRP products. This strategic move is set to enhance Zimmer Biomet's presence in the PRP market and enable the provision of a more comprehensive range of PRP products and services to its customer base.
Key Companies in the Platelet Rich Plasma Market Include
- Apex Biologix
- Arthrex Inc.
- Dr. PRP USA LLC
- Isto Biologics
- Juventix Regenerative Medical, LLC
- Regen Lab SA
- RegenOrthoSport
- Terumo Cardiovascular Systems Corporation
- Vivostat
- Zimmer Biomet
Platelet Rich Plasma Industry Developments
- November 2022: Crown Aesthetics rebranded ProGen PRP Advantage to ProGen PRP Eclipse, offering an advanced, user-friendly platelet-rich plasma system for consistent results.
- April 2022: Isto Biologics acquired TheraCell Inc., enhancing its capabilities in orthobiologic regeneration technologies and cell-based therapies for spine and orthopedic care.
- April 2019: APEX Biologix officially launched its latest and improved platelet-rich plasma (PRP) system, registered under the 510 K number BK180252. This PRP system was meticulously developed and refined, taking into account valuable input from numerous physicians who sought an accessible and cost-effective product while still delivering exceptional results.
Platelet Rich Plasma Market Segmentation
Platelet Rich Plasma – Type Outlook
- Pure Platelet-Rich Plasma (P-PRP)
- Leukocyte-and Platelet-Rich Plasma (L-PRP)
- Pure Platelet-Rich Fibrin (P-PRF) – or Leukocyte-Poor Platelet-Rich Fibrin
- Leukocyte- and Platelet-Rich Fibrin (L-PRF)
Platelet Rich Plasma – Application Outlook
- Orthopedics
- Sports Medicine
- General Surgery
- Dermatology
- Ophthalmology
- Neurology
- Cardiology
- Others
Platelet Rich Plasma – End-Use Outlook
- Hospitals
- Clinics
- Others
Platelet Rich Plasma – Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Malaysia
- South Korea
- Indonesia
- Australia
- Vietnam
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
Platelet Rich Plasma Report Scope:
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Report Attributes |
Details |
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Market Size Value in 2023 |
USD 823.17 million |
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Market Size Value in 2024 |
USD 932.66 million |
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Revenue Forecast in 2032 |
USD 2,783.89 million |
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CAGR |
14.5% from 2024 to 2032 |
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Base Year |
2023 |
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Historical Data |
2019 – 2022 |
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Forecast Period |
2024 – 2032 |
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Quantitative Units |
Revenue in USD million and CAGR from 2024 to 2032 |
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Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
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Segments Covered |
|
|
Regional Scope |
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|
Competitive Landscape |
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Report Format |
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Customization |
Report customization as per your requirements with respect to countries, regions, and segmentation. |
FAQ's
The global platelet rich plasma market size was valued at USD 823.17 million in 2023 and is projected to be valued at USD 2,783.89 million in 2032.
The global market is projected to register a CAGR of 14.5% during the forecast period, 2023-2032
North America had the largest share of the global market.
The key players in the market are Vivostat, Arthrex Inc., RegenOrthoSport, Dr. PRP USA LLC, Juventix Regenerative Medical, LLC, Terumo Cardiovascular Systems Corporation, Zimmer Biomet, Isto Biologics, Apex Biologix, and Regen Lab SA.
The pure platelet-rich plasma (P-PRP) category dominated the market in 2023.
Dermatology had the largest share of the global market.
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