Platelet-rich Plasma Market
Platelet-rich Plasma Market (Type: Pure Platelet-rich Plasma, Leukocyte Platelet-rich Plasma, and Pure Platelet-rich Fibrin; Origin: Autologous, Allogeneic, and Homologous; and Application: Orthopedic Surgery, Cosmetic Surgery, General Surgery, Neurosurgery, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030
Press Release :
COVID-19 Vaccines Slow Down Research Activities in Convalescent Plasma Therapy
Scientists are racing to develop antidotes for the novel coronavirus. The convalescent plasma therapy is emerging as a solution to use antibodies from the blood of a recovered COVID-19 patient to treat those critically affected by the virus. As such, the launch of coronavirus vaccines has slowed down the pace of research activities in the platelet-rich plasma market.
Companies in the platelet-rich plasma market are continuing their research in the convalescent plasma therapy to be prepared for future COVID-19-like situations. They are increasing research to prevent individuals from exposure toward second and third wave of the novel infection. Efforts are being taken by healthcare companies to make symptoms less severe for patients who detect coronavirus more than once.
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Continuous R&D Innovation Helps Study Different Bone Substitute Materials
Platelet-rich plasma (PRP) is serving as a therapeutic agent, which triggered healing activity and biologically active molecules that are released by platelets in their natural mix. However, low concentrations of platelet-rich plasma appear to have minimal effects, whereas too high concentrations many result in negative effects on the tissue repair process. Even lack of controlled clinical trials has led to difficulties in interpreting results. Thus, continuous R&D activities are emerging as a potential solution to study different bone substitute materials that tend to influence the overall effects of the platelet-rich plasma therapy.
The microinvasive approach involving platelet-rich plasma and adipose-derived stem cells has created a favorable environment to enhance bone regeneration in the platelet-rich plasma market.
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Hair, Skin Care Therapies Translate into Incremental Opportunities for Stakeholders
Apart from musculoskeletal conditions, companies in the platelet-rich plasma market are tapping growth opportunities in hair and skin care. Microneedling, with the help of platelet-rich plasma injections, holds promising potentials to improve skin texture and appearance.
As far as hair loss is concerned, platelet-rich plasma is being used to inject deep into the scalp to reach the bottom of the hair follicle. This helps to stimulate a specialized population of cells named dermal papilla cells, which contribute to hair growth. Companies in the platelet-rich plasma market are increasing their production of injections that aid in hair growth. Such injection therapies are later followed by maintenance sessions to ensure better outcomes in individuals. The high prevalence of androgenetic alopecia (AGA), i.e. hormone related baldness in individuals worldwide is acting as a key driver for the market.
Platelet-rich Plasma Therapy Replaces Steroids for Back, Join Pain Treatment
Companies in the platelet-rich plasma market are becoming aware about the benefits of platelet-rich plasma therapy for back pain. Interventional pain physicians at the Ohio State University Wexner Medical Center are using platelet-rich plasma injections to treat sacroiliac (SI) joint and back pain. Also known as the orthobiologic injection-based therapy, it is found that this treatment helps to treat joint pain and spinal conditions.
The platelet-rich plasma therapy is emerging as an alternative to steroid injections. Such trends are contributing toward the growth of the platelet-rich plasma market, since these therapies provide long lasting benefits as compared to steroids, where the latter only lasts a few weeks or months.
Innovative Kits Facilitate Easy, Effective, Efficient Extraction of Highly Concentrated Platelets
The paradigm is changing for the treatment of orthodontic conditions. Platelet-rich plasma is being publicized as a biological treatment for orthopedic surgery, dentistry, and thoracic surgery, among others, since the risk of the disease transmission is being lowered. Companies in the platelet-rich plasma market such as Pervice Korea are acquiring recognition for its innovative 3E-PRP kit, which facilitates the extraction of highly concentrated platelets.
Easy, effective, and efficient extraction of highly concentrated platelets is being established by companies in the platelet-rich plasma market by increasing their R&D in innovative kits.
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Even as companies are researching about the plasma therapy for the COVID-19 treatment, the introduction of COVID-19 vaccines has compelled healthcare companies to leverage business opportunities back into treating musculoskeletal conditions. Platelet-rich plasma helps to promote anti-inflammatory and growth factors to help decrease inflammation within joints and enable tissue regeneration. However, wide variability of existing preparation protocols and lack of standardization measures for platelet-rich plasma therapy are inhibiting the growth of the platelet-rich plasma market. Hence, companies should explore new application approaches, such as using platelet-rich plasma gel as a delivery scaffold for bone marrow-derived cell aggregates and ceramic micro-particles with the help of less invasive techniques.
Platelet-rich Plasma Market: Overview
- The global platelet-rich plasma market was valued at ~US$ 248 Mn in 2019. The market is projected to expand at a high CAGR from 2020 to 2030. Technological advancements, rise in prevalence of chronic diseases across the world, increase in geriatric population, adoption of cosmetic surgeries, rise in stem cell research, growth in research & development activities, and surge in medical tourism in developing countries are anticipated to boost the global platelet-rich plasma market during the forecast period.
- Presence of key players offering technological advanced product portfolios, launching innovative products, entry of new players, and strong geographic presence are likely to propel the global platelet-rich plasma market. Key industry events, including mergers & acquisitions, launch of new products, new product approvals, and growing investments in research & development are a few factors that are expected to drive the global platelet-rich plasma market.
- Platelet-rich plasma, also known as PRP, is a blood component that enhances and promotes healing when injected in the body. Plasma has proteins, which help clotting of the blood and heal the surface, thereby supporting cell growth. The PRP heals the damaged tissue and stimulates the body to produce new and healthy cells. USFDA has approved a few of the PRP treatments and extensively utilized in cosmetic and orthopedic surgeries across the globe. The PRP therapy is widely preferred to reduce inflammation, boost hair growth, heal tissues, and treat bone injuries.
- Ongoing research studies in platelet-rich plasma therapies have driven its use as an alternative therapy instead of surgery. PRP is considered to be a popular therapy in degenerative & in musculoskeletal conditions, especially impactful for Achilles tendon ruptures and other soft tissue injuries. Moreover, PRP injections have being proven effective in tendonitis or in chronic tendinosis conditions such as tennis elbow condition.
Platelet-rich Plasma Market: Segmentation
- The global platelet-rich plasma market has been segmented based on type, origin, application, and region
- In terms of type, the global platelet-rich plasma market has been segregated into pure platelet-rich plasma, leukocyte platelet-rich plasma, and pure platelet-rich fibrin. The attributable factors are its ease of application to injuries and ligaments, conventional method of PRP production, rich concentration of platelets, and limited contamination with RBCs and platelet poor plasma (PPP).
- The origin segment has been classified into autologous, allogeneic, and homologous. The autologous segment accounted for a prominent share of the market in 2019, owing to cost-effectiveness, quick access to blood, easy production method, and negligible threat of disease transfusion, which is boosting the usage of autologous PRP across Asia Pacific and the globe.
- In terms of application, the global platelet-rich plasma market has been classified into orthopedic surgery, cosmetic surgery, general surgery, neurosurgery, and others. Technological advancements have led to the use of the platelet- rich plasma therapy in orthopedic surgeries. According to research, around 86,000 athletes are treated with plasma-rich protein therapy in the U.S. annually. Moreover, platelets play an important role in healing wounds and other muscular injuries. This is anticipated to drive the segment over the next few years.
Platelet-rich Plasma Market: Regional Segmentation
- In terms of region, the global platelet-rich plasma market has been segmented into North America, Europe, Latin America, Middle East & Africa, and Asia Pacific
- North America dominated the global platelet-rich plasma market in 2019. This can be ascribed to technological advancements, rise in prevalence of orthopedic diseases, and increase in adoption of cosmetic surgeries across the region. According to research, osteoarthritis is the leading cause of chronic pain and disability, which is expected to affect 25% of the U.S. adults by 2030.
- The market in Asia Pacific is estimated to expand at a rapid pace during the forecast period. Rise in prevalence of chronic diseases, including orthopedic diseases, neurodengerative disorders, and other chronic conditions are anticipated to drive the platelet-rich plasma market in Asia Pacific during the forecast period. Increase in medical tourism, technological advancements, rapid adoption of cosmetic surgeries, and increase in investments are key factors that are projected to propel the market in the region over the next few years. Increase in trend of cosmetic surgeries in South Korea, Japan, and China offer significant opportunities for the platelet-rich plasma market in the region during the forecast period.
Platelet-rich Plasma Market: Major Players
- Key players operating in the global platelet-rich plasma market include
- Zimmer Biomet Holdings, Inc.
- AdiStem Ltd.
- ISTO Biologics
- ThermoGenesis Holdings, Inc.
- Stryker, Exactech, Inc.
- EmCyte Corporation
- Regen Lab, Arthrex, Inc.
- DePuy Synthes Companies (Johnson & Johnson)
- These players focus on adopting various strategies to expand product offerings and to strengthen geographic presence. Technological advancements, mergers & acquisitions, expansion of product portfolio, launch of new products, growing research & development, and focus of companies in expanding their potential business are likely to boosts companies’ presence across the globe
Platelet-rich Plasma Market – Scope of the Report
TMR’s report on the global platelet-rich plasma market studies the past as well as current growth trends and opportunities to gain valuable insights of these indicators for the market during the forecast period from 2020 to 2030. The report provides the overall revenue of the global platelet-rich plasma market for the period 2018–2030, considering 2019 as the base year and 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global platelet-rich plasma market for the forecast period.
The report has been prepared after an extensive research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. 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 included Internet sources, statistical data from government agencies, websites, and trade associations. Analysts also employed a combination of the top-down and bottom-up approaches to study various phenomena in the global platelet-rich plasma market.
The report comprises an elaborate executive summary, along with a snapshot of the growth behavior of various segments and sub-segments included in the scope of the study. Additionally, the report sheds light on the 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 participating in the global platelet-rich plasma market. The next section of the global platelet-rich plasma market report highlights the USPs, which include technological advancements, disease prevalence & incidence rate across globe/region, and COVID-19 pandemic impact on the global platelet-rich plasma market.
The report delves into the competition 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 profiled in the global platelet-rich plasma market report.
Key Questions Answered in Platelet-rich Plasma Market Report
- What is the sales/revenue generated by platelet-rich plasma across the globe during the forecast period?
- What are the key trends in the platelet- rich plasma market?
- What are the major drivers, restraints, opportunities, and threats in the market?
- Which platelet-rich plasma segment will have the highest revenue by 2030 and which segment will grow at the highest CAGR during the forecast period?
- What were the strengths and weaknesses of major players in 2019?
- What was the competitive analysis of major players in 2019?
- What was the market share analysis of different companies operating in the global market in 2019?
Platelet-rich Plasma Market – Research Objectives and Research Approach
The comprehensive report on the global platelet-rich plasma market begins with an overview of the market, followed by the scope and objectives of the study. Following this, the report provides detailed explanation of the objectives of the study and healthcare compliances laid down by accredited agencies in the purview of research in the global platelet-rich plasma market. It is followed by market introduction, market dynamics, and an overview of the global platelet-rich plasma market, which includes TMR analysis of market drivers, restraints, and trends affecting the growth of the market. Furthermore, Y-o-Y analysis with elaborate insights has been provided to understand the Y-o-Y trends of the global platelet-rich plasma market.
For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section divided into smaller ones. The report comprises an exhaustive collection of graphs and tables that are appropriately interspersed in the compilation. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of the market shares of key segments in the past and at the end of the forecast period.
Revenue generated by key product manufacturers has been mapped to ascertain the size of the global platelet-rich plasma market in terms of value. The forecast presented here assesses the total revenue generated in the global platelet-rich plasma market. In order to provide an accurate forecast, we initiated by sizing up the current platelet-rich plasma market with the help of the parent market.
The report analyzes the global platelet-rich plasma market in terms of type, origin, application, and region. Key segments under each criteria have been studied at length, and the market share for each of these at the end of 2030 has been provided. These valuable insights would help market stakeholders in making informed business decisions for investments in the global platelet-rich plasma market.
Platelet-rich Plasma Market – Segmentation