Platelet Rich Plasma Market Size To Cross US$ 1,840.29 Mn By 2032

The global platelet-rich plasma market was valued at USD 602.95 million in 2023 and is predicted to reach over USD 1,840.29 million by 2032, poised to grow at a CAGR of 13.2% from 2023 to 2032.

Table of Contents

Key Takeaways

North America led the global market with the highest market share of 45% in 2022.
By Product, the Pure PRP segment has held the largest market share in 2022.
By Application, the orthopedics segment captured the biggest revenue share in 2022.
By Origin, the autologous platelet-rich plasma segment is estimated to hold the highest market share in 2022.

Platelet rich plasma signifies a comparatively novel method in regenerative medicine. It is extracted from patient’s blood and comprises numerous growth factors and other essential biomolecules for wound curing. As there are numerous protocols for PRP formulating, it typically results with PRP generation with diverse amounts of bioactive substances, which eventually modify the concentration of wound curing. PRP also be utilized to advance healing after surgery for certain injuries. For instance, an athlete with an entirely torn heel cord may need surgery to repair the tendon. Curing of the torn tendon can probably be enhanced by treating the wounded area with PRP throughout surgery. This is completed by making the PRP in a distinct manner that permits it to essentially be stitched into torn tissues.

The capability of PRP to deliver enormous amounts of growth factors and numerous proteins, which are capable to encourage the healing procedure, signifies the vital influence for prevalent clinical application. In dissimilar tissues, comprising the musculoskeletal, healing procedure takes a long period on account of sluggish cell turnover and inadequate blood supply. The usage of PRP accelerates the neovascularization and consequently upsurge and nutrients influx and the blood supply essential for cell regeneration in injured tissue.

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Platelet Rich Plasma Market Scope

Report Highlights	Details
Growth Rate from 2023 to 2032	CAGR of 13.2%
Market Size in 2023	USD 602.95 Million
Market Size by 2032	USD 1,840.29 Million
Base Year	2022
Forecast Period	2023 to 2032
Segments Covered	Product, Origin, Application
Regional Scope	North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)

Growth Factors

Rising elderly population and intensifying orthopedic conditions are probable to lift the growth of global platelet rich plasma market. As per data published by National Center for Biotechnology Information, more than 1.4 million people are recognized with fractures related to osteoporosis every year. Besides, escalating attentiveness associated to platelet rich plasma therapy for dental treatment is likely to boost the market expansion.

Research and Development in drug delivery system for platelet-rich bioactive molecules is anticipated to propose profitable development prospects for companies operational in the global platelet-rich plasma market. For example, in 2020, researchers from Czech Republic, Charles University, and Institute of Experimental Medicine of the Czech Academy of Sciences stated development of an easy delivery system to extend the effects of the bioactive molecules released by platelets.

PRP comprise 7 growth factors, and it can be employed for numerous treatments, including severe ligament, and muscle wounds, chronic tendon wounds, knee arthritis, surgery, pain and fractures. In orthopedics, the usage of PRP is likely to upsurge over the year to come. Due to cumulative elderly populace, incidence of doctor-diagnosed arthritis is predictable to surge suggestively within prediction period. The popularity of PRP is on the escalation, still its true efficiency is yet to be completely recognized. The PRP is extensively utilized in surgery to recover torn knee ligaments, like the anterior circulate ligament. The PRP eases the rapid curing of the tissue afterward surgical actions.

Regional Snapshots

North America gathered major revenue cut in the global platelet-rich plasma market due to occurrence of noteworthy players who are functioning in the field of PRP market. Broadening application ranges of platelet rich plasma in therapeutics and snowballing number of patients diagnosed with orthopedic illnesses are few influences accountable for the leading expansion of the market in this region.

Asia Pacific is anticipated to exhibit rapid growth throughout assessment duration. Cumulative number of cosmetic surgeries to improve facial features in nations such as Thailand, Korea, and India are projected to boost growth of the market in this region. Further, rise in outlay in health care infrastructure, economy development, huge pool of patients with rheumatology and orthopedic ailments in evolving nations such as India, China, Malaysia, and South Korea, and upsurge in per capita health care spending in the region are further flourishing the market prospects.

Report Highlights

International market participants like Harvest, Cesca, Biomet and Arthrex are reinforcing their prevailing distribution networks to augment their market footprint and revenue share
Among different applications, Orthopedics segment help majority of the market share in terms of revenue in 2019. This is on account of the fact that number of orthopedic problems such as quadriceps, rotator cuff, Achilles tendon injuries, hamstring, and tennis elbow can be treated effectively with PRP

Key Players & Strategies

Major companies engaged in the global platelet-rich plasma market are emphasizing on introduction of novel products, and associations & cooperative agreements with other companies. These policies of crucial companies are prospective to bolster the global platelet-rich plasma market development.

Certain prominent companies functioning in the Platelet Rich Plasma market are as follows: