Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Platelet-rich plasma (PRP), also called platelet enriched plasma or platelet gel, is a blood plasma product, which contains elevated level of platelets and growth factors (at least four to ten times) than normal blood concentration. An increased blood plasma concentration accentuates the injury healing process by releasing high amount of growth factors at the injury site.
The global platelet-rich plasma market is estimated to account for US$ 352.8 Mn in terms of value in 2020 and is expected to reach US$ 780.8 Mn by the end of 2027.
Global Platelet-rich Plasma Market: Drivers
Increase in cosmetic surgeries is expected to propel growth of the global platelet-rich plasma market over the forecast period. For instance, according to the International Society of Aesthetic Plastic Surgery (ISAPS) approximately 1,036,618 cosmetic procedures were carried out in Mexico and nearly 128,398 procedures in Thailand in 2018.
Moreover, high prevalence of sports injuries is also expected to aid in growth of the global platelet-rich plasma market over the forecast period. For instance, according to the National High School Sports-Related Injury Surveillance Study 2017-2018, 1,367,490 cases of sport-related were recorded in high schools in the U.S.
Pure PRP held dominant position in the global platelet-rich plasma market in 2019, accounting for 40.9% share in terms of value, followed by Leukocyte rich PRP and Pure PRF, respectively.
Figure 1. Global Platelet-rich Plasma Market Share (%), by Value, by Type, 2019
Global Platelet-rich Plasma Market: Restraints
Uncertainty about therapeutic efficacy of platelet-rich plasma is expected to hinder growth of the global platelet-rich plasma market. For instance, the study ‘Current Clinical Recommendations for Use of Platelet-Rich Plasma’ published in Current Reviews in Musculoskeletal Medicine in 2018, found moderate high-quality evidence that supported the use of leukocyte-rich (LR)-PRP injection for patellar tendinopathy and of PRP injection for plantar fasciitis and donor site pain in patellar tendon graft Bone-patellar tendon-bone anterior cruciate ligament reconstruction. Moreover, the review also noted insufficient evidence to routinely recommend PRP for rotator cuff tendinopathy, osteoarthritis of the hip, or high ankle sprains.
Moreover, high cost of platelet-rich plasma products is also expected to hinder growth of the market. The average price of platelet-rich plasma injections starts from US$ 200 to US$ 800, based on its application areas. In addition, treatment of chronic diseases/injuries requires minimum three to six injections, which increases the overall cost of the treatment. Similarly, the average price of platelet-rich plasma centrifuge is around US$ 2,000 to US$ 15,000 (varies according to capacity and other parameters) and Platelet-rich plasma kit is around US$ 25 to US$ 200 (single use kit).
Platelet-rich Plasma Market Report Coverage
||Market Size in 2020:
||US$ 352.8 Mn
|Historical Data for:
||2016 to 2019
||2020 to 2027
|Forecast Period 2020 to 2027 CAGR:
||2027 Value Projection:
||US$ 780.8 Mn
- North America: U.S., Canada
- Latin America: Brazil, Argentina, Mexico, Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, Rest of Asia Pacific
- Middle East: GCC Countries, Israel, Rest of Middle East
- Africa: South Africa, North Africa, Central Africa
- By Type: Pure PRP, Leukocyte rich PRP, Pure PRF, Leukocyte rich PRF.
- By Origin: Autologous, Allogenic, Homologues.
- By Application: Neurosurgery, Cosmetic Surgery, Orthopedic Surgery, General Surgery, Others.
Arthrex, Inc., Stryker Corporation, Johnson and Johnsons Ltd., Zimmer Biomet Holdings Inc., Terumo Corporation, Glofinn Oy, Medira Ltd., Regen Lab S.A., CollPlant, Generex Biotechnology Corporation, and Estar Technologies Ltd.
- Technological advancement
- Increasing prevalence of chronic diseases
|Restraints & Challenges:
- Uncertainty about therapeutic efficacy of platelet-rich plasma
Global Platelet-rich Plasma Market: Opportunities
R&D in drug delivery system for platelet-rich plasma-derived bioactive molecules is expected to offer lucrative growth opportunities for players in the global Platelet-rich plasma market. For instance, in September 2020, researchers from Institute of Experimental Medicine of the Czech Academy of Sciences and Charles University, Czech Republic, reported development of a simple delivery system to prolong the effects of the bioactive molecules released from platelets.
Moreover, high prevalence of musculoskeletal injuries is also expected to boost growth of the global platelet-rich plasma market. For instance, according to the Study, ‘Prevalence of Musculoskeletal Injuries, Pain, and Illnesses in Elite Female Basketball Players, in Europe, in June 2019, the most frequently injured body parts were lower limbs: more than 60%, representing an injury rate of 0.14 per athletes and a 0.2 pain rate per athlete (during the study period).
The global platelet-rich plasma market was valued at US$ 314.6 Mn in 2019 and is forecast to reach a value of US$ 780.8 Mn by 2027 at a CAGR of 12.0% between 2020 and 2027.
Figure 2. Global Platelet-rich Plasma Market Value (US$ Mn), and Y-o-Y Growth (%), 2019-2027
Market Trends/Key Takeaways
High prevalence of alopecia is expected to boost growth of the global platelet-rich plasma market. For instance, according to a 2019 survey released by the China Association of Health Promotion and Education (CAHEP), one out of six Chinese people, or about 250 million people, are suffering from hair loss.
Moreover, increasing adoption of platelet-rich plasma in cosmetic surgery is also expected to boost growth of the global Platelet-rich plasma market. For instance, according to the American Society of Plastic Surgeons (ASPS) reports platelet-rich plasma (PRP) treatment is estimated to increase by 12% from nearly 113,356 procedures in 2017 to approximately 127,394 procedures in 2018.
Global Platelet-rich Plasma Market: Competitive Landscape
Major players operating in the global platelet-rich plasma market include, Arthrex, Inc., Stryker Corporation, Johnson and Johnsons Ltd., Zimmer Biomet Holdings Inc., Terumo Corporation, Glofinn Oy, Medira Ltd., Regen Lab S.A., CollPlant, Generex Biotechnology Corporation, and Estar Technologies Ltd.
Global Platelet-rich Plasma Market: Key Developments
Major players in the global platelet-rich plasma market are focused on adopting partnership and collaboration strategies to enhance their market share. For instance, in March 2019, CollPlant, a regenerative medicine company, renewed its exclusive distribution agreement with Arthrex for Vergenix STR, an injectable gel comprised of cross-linked bioengineered recombinant human type I collagen, rhCollagen, combined with autologous platelet-rich plasma, for the treatment of tendinopathy.