Platelet-rich Plasma Market
Platelet-rich Plasma Market (Type - Pure Platelet-rich Plasma, Leukocyte-rich Platelet-rich Plasma, Pure Platelet-rich Fibrin; Origin - Autologous Platelet-rich Plasma, Allogeneic Platelet-rich Plasma, Homologous Platelet-rich Plasma; Application - Orthopedic Surgery, Neurosurgery, Cosmetic Surgery, General Surgery) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019- 2027
Press Release :
- According to Transparency Market Research’s latest report on the platelet-rich plasma market for the historical period 2017–2018 and forecast period 2019–2027, rise in percentage of orthopedic and sports injuries, increase in the number of cosmetic surgical procedures, and surge in adoption about platelet-rich plasma therapies in the treatment of various chronic as well as acute disorders across the globe are anticipated to drive the global platelet-rich plasma market
- According to the report, the global platelet-rich plasma market was valued at US$ 219.3 Mn in 2018 and is projected to expand at a CAGR of 11.4 % from 2019 to 2027
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Increasing Incidence of Orthopedic and Sports Injuries expected to propel the market: A Key Driver
- Increase in the number of orthopedic patients globally is considered a major factor fueling the growth of the global platelet-rich plasma market
- PRP treatment reduces injury healing time in orthopedic diseases from four to six months to three to five weeks with surgery. Such sharp reduction in the healing period is likely to propel the platelet-rich plasma market during the forecast period.
- According to the Arthritis Foundation, approximately 54 million adults and around 300,000 children had doctor-diagnosed arthritis in 2017. This number is projected to reach 67 million by 2030.
- According to the International Osteoporosis Foundation, globally, one in three women, aged 50 years and above, is likely to suffer from osteoporotic fracture. The ratio is one in five for men.
- Hence, high prevalence of orthopedic diseases, coupled with increasing preference for PRP therapy, is a key factor contributing to the growth of the global platelet-rich plasma market
Technological Advancements and Regulatory Approvals for New Devices to drive the Global Platelet-rich Plasma Market
Rising disease awareness through promotional activities
- Market players are striving to bring innovative and technologically advanced products and equipment into the market due to the gradual increase in demand for platelet-rich plasma products
- The U.S. FDA approved the Centrepid Platelet Concentrator (PC) Kit (Cellmedix Holdings, LLC) in July 2014, the PEAK PRP System (registered with DePuy Synthes, Inc. and developed by Royal DSM), and the SmartPrep 2 PRP System (Harvest Technologies) in March 2014
- PEAK PRP System (DePuy) prepares highly concentrated 3 ml of PRP from 27 ml of whole blood in only two and half minutes, compared to 20 minutes to 30 minutes taken by competitor devices
- In October 2014, the Cytomedix re-launched its AutoGel chronic wound care system under the brand name, Aurix System
- New application areas (hair restoration treatment, vampire facelift, and erectile dysfunction) of PRP are being developed. This is expected to boost the growth of the global platelet-rich plasma market during the forecast period..
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High Cost of Products and Therapy to Hamper Market
- The average price of PRP injections starts from US$ 200 to US$ 800, based on the application area. In addition, treatment of chronic diseases/injuries requires a minimum of three to six injections, which increases the overall cost of the treatment.
- Similarly, the average price of PRP centrifuge is around US$ 2,000 to US$ 15,000 (varies according to capacity and other parameters) and PRP kit is around US$ 25 to US$ 200 (single use kit).
- High cost of treatment, combined with limited reimbursement coverage of platelet-rich plasma products and therapies, has restricted the growth of the market.
Global Platelet-rich Plasma Market: Competitive Landscape
- This report profiles major players in the global platelet-rich plasma market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
- Leading players operating in the global platelet-rich plasma market are
- Cesca Therapeutics, Inc.
- AdiStem Ltd.
- DePuy Synthes, Inc.
- Arthrex, Inc
- Zimmer Biomet,
- Exactech, Inc.
Global Platelet-rich Plasma Market: Key Developments
Key players in the global platelet-rich plasma market are engaged in launch of new products, and partnerships & collaborative agreements with other companies. These strategies of key players are likely to fuel the growth of the global platelet-rich plasma market. A few expansion strategies adopted by players operating in the platelet-rich plasma market are:
- In August 2017, Cesca Therapeutics, Inc. entered into a distribution agreement with Boyalife WSN Ltd. for sale and marketing of its bio-banking and point-of-care solutions in China, India, Singapore, and the Philippines.
- In April 2016, a clinical research study conducted in Spain showed positive effect of platelet-rich plasma on androgenic alopecia.
- In February 2015, Nuo Therapeutics, Inc. initiated phase 4 study of Aurix-system under CMS coverage with evidence development program (CED) for use in diabetic foot ulcers, venous leg ulcers, and pressure ulcers (bed sores).
- In January 2015, NuMale Medical Center announced a milestone achievement in platelet-rich plasma treatment by treating its 3,000th patient for sexual dysfunction.
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The report on the global platelet-rich plasma market discussed individual strategies, followed by company profiles of providers of platelet-rich plasma market. The ‘competitive landscape’ section has been included in the platelet-rich plasma market report to provide readers with a dashboard view and a company market share analysis of key players operating in the global platelet-rich plasma market.
TMR’s report on the global platelet-rich plasma market studies past as well as current growth trends and opportunities to gain valuable insights of the same indicators for the market during the forecast period from 2019 to 2027. The report provides revenue of the global platelet-rich plasma market for the period 2017–2027, considering 2018 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global platelet-rich plasma market during the forecast period.
The report has been prepared after an extensive primary and secondary research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global platelet-rich plasma market.
Secondary research also includes Internet sources, statistical data from government agencies, websites, companies’ presentations, sales data, and trade associations. Analysts have employed a combination of top-down and bottom-up approaches to study various phenomenon in the global platelet-rich plasma market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on changing competitive dynamics in the global platelet-rich plasma market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global platelet-rich plasma market.
The report delves into the competitive landscape of the global platelet-rich plasma market. Key players operating in the global platelet-rich plasma market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global platelet-rich plasma market that have been profiled in this report.
Key Questions Answered in Platelet-rich Plasma Market Report
- What is the scope of growth of companies in the platelet-rich plasma market?
- What will be the Y-o-Y growth of the platelet-rich plasma market between 2019 and 2027?
- What is the influence of changing trends in drug research and development on the global platelet-rich plasma market?
- Will North America continue to remain the most profitable regional market for platelet-rich plasma products providers?
- Which factors are anticipated to impede the growth of the global platelet-rich plasma market during the forecast period?
- Which are the leading companies in the global platelet-rich plasma market?
A unique research methodology has been utilized by TMR to conduct comprehensive research on the growth of the global platelet-rich plasma market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary methods referred to by analysts during the production of the global n platelet-rich plasma market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the platelet-rich plasma market as primary methods.
These primary and secondary methods have provided exclusive information during interviews, which serves as a validation from the platelet-rich plasma market leaders. Access to an extensive internal repository and external proprietary databases enabled this report to address specific details and questions about the global platelet-rich plasma market with accuracy. The study also uses the top-down approach to assess the revenues for each segment and the bottom-up approach to counter-validate them. This has helped in reaching TMR’s estimates on future prospects of the global platelet-rich plasma market more reliably and accurately.
Regional Segmentation of Platelet-rich Plasma Market
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Global Platelet-rich Plasma Market - Segmentation
Pure Platelet-rich Plasma
Leukocyte Platelet-rich Plasma
Pure Platelet-rich Fibrin
Autologous Platelet-rich Plasma
Allogeneic Platelet-rich Plasma
Homologous Platelet-rich Plasma
Middle East & Africa