Platelet Rich Plasma Market - Global Industry Analysis

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Platelet rich plasma (PRP) is a portion of plasma derived from the patient’s blood. This portion of blood has a high concentration of platelets, which promotes the healing of ligaments, muscles, joints, and tendons. PRP generally contains different growth factors and some cytokines that are responsible for initiating the healing of injuries.

According to the statistics by ISAPS (International Society of Plastic and Aesthetic Surgeons), in 2013, about 11 million cosmetic surgeries (non-invasive) were carried out across the world. According to the statistics, in 2015, about 617 million of the global population was aged above 65 years. Aging weakens the bones, which increases the chances of orthopedic impairments. The rise in the prevalence of orthopedic impairments and an increase in the number of cosmetic surgeries are expected to fuel the development of the global platelet rich plasma market. Additionally, the rise in the awareness about PRP therapy is anticipated to further contribute to this market’s growth globally. The rising occurrences of arthritis, technological advancement in PRP products and therapy, and support by government for the use of PRP therapies are some other factors driving the expansion of the global market for platelet rich plasma.

Platelet rich plasma market is segmented on the basis of type, origin, application, and end-user. Based on the type, this market is divided into pure PRP, leukocyte-rich PRP, pure platelet-rich fibrin, and leukocyte-rich platelet-rich fibrin. The pure PRP segment is anticipated to dominate the market in the forecast period. By origin, the market for platelet rich plasma is segmented into autologous PRP, homologous PRP, and allogeneic PRP. In 2017, the autologous PRP segment held the largest market share. By application, the platelet rich plasma market is divided 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. Based on end-user, the market for platelet rich plasma is segmented into hospitals and clinics and research institutes. The hospitals and clinics segment is projected to dominate the platelet rich plasma market.

North America is anticipated to lead the market for platelet rich plasma in the upcoming years, due to the increase in the number of cosmetic surgeries, rise in the cases of rheumatology, growing awareness about PRP therapy, and rapid approval by FDA for various platelet rich plasma products. In the forecast timeframe, the Asia Pacific region is anticipated to show the highest growth due to the increase in the number of people suffering from osteoporosis. The increasing number of accidents, growing awareness about technologically advance PRP products, and rising occurrences of neurological disorders are some other factors fueling the growth of the market in the Asia Pacific region.

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 the development of various products for the treatment of different diseases. For instance, in 2017, Cesca Therapeutics Inc. announced an autologous PRP which is used for the treatment of chronic ulcers.