According to the report, the global platelet rich plasma market was valued at approximately USD 185 million in 2017 and is expected to generate revenue of around USD 438 million by the end of 2024, growing at a CAGR of around 12.90% between 2018 and 2024.
New York, NY, Oct. 31, 2018 (GLOBE NEWSWIRE) — Zion Market Research has published a new report titled “Platelet Rich Plasma Market by Type (Pure Platelet-Rich Plasma, Leukocyte-Rich Platelet-Rich Plasma, Pure Platelet-Rich Fibrin, and Leukocyte-Rich Platelet-Rich Fibrin), by Origin (Autologous PRP, Allogeneic PRP, and Homologous PRP), by Application (Orthopedics, Dermatology, Dental, Cardiac Muscle Injury, Nerve Injury, and Others), and by End-User (Hospitals & Clinics and Research Institutions): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024”. According to the report, the global platelet rich plasma market was valued at approximately USD 185 million in 2017 and is expected to generate revenue of around USD 438 million by the end of 2024, growing at a CAGR of around 12.90% between 2018 and 2024.
Plasma rich platelets contain a high concentration of platelets, which are suspended in plasma after centrifugation. PRP promotes the healing of soft tissues after the growth factors are released. These growth factors are released after degranulation of the platelets. The rise in the demand for cosmetic procedures, an increase in orthopedic and rheumatology disorders, and growing awareness about platelet rich plasma therapy are projected to fuel the development of the platelet rich plasma market.
Browse through 71 Tables & 33 Figures spread over 110 Pages and in-depth TOC on “Global Platelet Rich Plasma Market Size 2017 Report: Industry Type, Share, Trends, Applications, Analysis and Forecast to 2024”.
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Platelet rich plasma market is segmented based on type, origin, application, and end-user. Based on tyToll-Freepe, this market is divided into pure PRP, leukocyte-rich PRP, pure platelet-rich fibrin, and leukocyte-rich platelet-rich fibrin. The pure PRP is anticipated to dominate the market in the forecast timeframe, due to its rich plasma content and its usefulness in various applications.
On the basis of origin, the market for platelet rich plasma is segmented into autologous PRP, homologous PRP, and allogeneic PRP. In 2017, the autologous PRP held the largest market share. This is due to the low threat of disease transmission, cost-effectiveness, and easy production.
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By application, the market is divided into cardiac muscle injury, orthopedics, dermatology, nerve injury, and others. The orthopedics segment is anticipated to lead the market for platelet rich plasma in the upcoming years. The increase in accidents causing orthopedic disorders and rise in sports injuries are mainly fueling the demand for platelet rich plasma market.
Based on end-user, the market is segmented into hospitals and clinics and research institutes. The hospitals and clinics segment is projected to dominate the platelet rich plasma market. The presence of a large patient base is contributing to the demand for platelet rich plasma in hospitals and clinics.
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North America is anticipated to dominate the global platelet rich plasma market in the upcoming years. North America held over 48% of the total global platelet rich plasma market. According to American Society of Plastic Surgeons, in 2017, about 17.5 million cosmetic surgeries were performed in the U.S. This increase in the number of cosmetic surgeries is anticipated to fuel the growth of the market for platelet rich plasma in North America. According to the data mentioned in an Orthopedic Statistics and Demographics article, in North America, about 1 out of 7 people suffer from orthopedic disorders. This high occurrence of orthopedic disorders is also fueling the demand for platelet rich plasma market in the North American region. Growing awareness regarding the PRP therapy for treatment of different disorders, rising cases of rheumatology, and rapid approval by FDA for various platelet rich plasma products in North America are fueling the growth of the North American market for platelet rich plasma.
Europe is the second most attractive market for platelet rich plasma. The rise in geriatric population generally suffering from osteoporosis, increase in sports-related injuries, growing awareness about the platelet-rich plasma therapies, and rapidly growing investments made in healthcare are some factors driving the growth of platelet rich plasma market in Europe.
Browse the full “Platelet Rich Plasma Market by Type (Pure Platelet-Rich Plasma, Leukocyte-Rich Platelet-Rich Plasma, Pure Platelet-Rich Fibrin, and Leukocyte-Rich Platelet-Rich Fibrin), by Origin (Autologous PRP, Allogeneic PRP, and Homologous PRP), by Application (Orthopedics, Dermatology, Dental, Cardiac Muscle Injury, Nerve Injury, and Others), and by End-User (Hospitals & Clinics and Research Institutions): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024” report at https://www.zionmarketresearch.com/report/platelet-rich-plasma-market
In the forecast period, Asia Pacific is expected to show the fastest growth among all regions. According to an article on ScienceDirect, it is estimated that about 1.1 million people suffer from hip fractures due to osteoporosis in the Asia Pacific region. This increase in the number of people suffering from osteoporosis is anticipated to mainly fuel the growth of the platelet rich plasma market in the Asia Pacific region. The increasing occurrence of skeletal injuries and deformities, the growing prevalence of neurological diseases and disorders, technological advancements in PRP devices, and development of healthcare infrastructure are some other factors fueling the demand for the market for platelet rich plasma in Asia Pacific.
The Middle East and Africa and Latin America are likely to show a slower growth rate as compared to other regions. A rapid increase in the number of accidents, rise in the prevalence of orthopedic impairments, increase in companies’ interest to invest in these regions and rise in the awareness about proper treatment for disorders are anticipated to fuel the growth of the platelet rich plasma market in these regions.
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The main players involved in the global platelet rich plasma market are Cambryn Biologics LLC, Regen Lab SA, Nuo Therapeutics, Inc., Cesca Therapeutics, Inc., Grifols International S.A., Octapharma, EmCyte Corporation, AdiStem Ltd., ISTO Biologics, and BioLife Plasma Services. These companies focus on merger and acquisition to increase their sales across the world. For instance, in 2018, Grifols acquired 24 Biotest centers in the U.S. to expand its plasma collection.
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This report segments the global platelet rich plasma market as follows:
Global Platelet Rich Plasma Market: Type Segment Analysis
- Pure Platelet-rich Plasma
- Leukocyte-rich Platelet-rich Plasma
- Pure Platelet-rich Fibrin
- Leukocyte-rich Platelet-rich Fibrin
Global Platelet Rich Plasma Market: Origin Segment Analysis
- Allogeneic PRP
- Autologous PRP
- Homologous PRP
Global Platelet Rich Plasma Market: Application Segment Analysis
- Orthopedics
- Dermatology
- Dental
- Cardiac Muscle Injury
- Nerve Injury
- Others
Global Platelet Rich Plasma Market: End-user Segment Analysis
- Hospitals & Clinics
- Research Institutions
Global Platelet Rich Plasma Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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