Platelet Concentration Systems Market to Surpass US$ 838.4 Mn by 2030
Global Platelet Concentration Systems Market, By Technology (Apheresis Technology, Single Spin Technology and Double Spin Technology), By Application (Orthopedics, Cosmetic Surgery and Dermatology, Neurology, Cardiology and Others (Ophthalmology and Others)), By End User (Hospital, Blood Banks and Transfusion Centers, Ambulatory Surgical Centers and Others (Research Laboratories, Stand-alone Processing Facilities)) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 424.9 Mn in 2023, and is expected to exhibit a CAGR of 10.2% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Platelet concentration systems are used in healthcare settings to concentrate platelets from a small sample of patient's own blood for delivery to the injury site to promote healing through concentrated platelets. They are used in various procedures like orthopedic surgeries, sports injuries, hair transplant etc.
Increasing prevalence of orthopedic and Sports injuries is expected to drive the growth of the global platelet concentration systems market, over the forecast period. For instance, the number of orthopedic and sports-related injuries has been steadily growing over the past decade. Platelet-rich plasma (PRP) therapy has become increasingly popular for treating injured muscles, tendons, and ligaments. PRP contains a high concentration of platelets that release growth factors to accelerate the healing process. Platelet concentration systems are used to isolate platelets from whole blood and concentrate them to create PRP. As more patients and athletes seek PRP treatment options for injuries, the demand for platelet concentration systems is growing. Sports medicine centers, orthopedic clinics, and physical therapy practices are investing in these systems to offer PRP injections. The increasing utilization of PRP therapy for soft tissue injuries represents a major driver of the platelet concentration systems market.
Global Platelet Concentration Systems Market– Impact of Coronavirus (COVID-19) Pandemic
Platelet concentration systems are designed for safe and rapid preparation of platelet rich plasma at the point of care from a small amount of patient’s blood sample.
Since the COVID-19 virus outbreak in December 2019, the disease has spread to more 100 countries around the globe with the World Health Organization declaring it a public health emergency. According to the World Health Organization’s report, the manifestation of coronavirus disease (COVID-19) has resulted in more than 63.3 million infected individuals worldwide as of 30 November 2020.
COVID-19 can affect the global economy in three main ways; by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. Due to the lockdown, many countries such as Italy, Spain, U.K., the U.S., Australia, India, and others are facing problems with regards to the supply and demand side of Platelet Concentration Systems
Global Platelet Concentration Systems Market: Key Developments
For instance, in 2022, Stryker Corporation, one of the world’s leading medical technology companies, announced the opening of its new research and development facility, Stryker’s Global Technology Centre (SGTC), at the International Tech Park, Gurgaon. The 150,000-square-foot facility will help accelerate innovation in India and globally, and further support the company’s mission to make healthcare better.
Browse 35 Market Data Tables and 34 Figures spread through 144 Pages and in-depth TOC on “Global Platelet Concentration Systems Market”- Forecast to 2030, Global Platelet Concentration Systems Market, By Technology (Apheresis Technology, Single Spin Technology and Double Spin Technology), By Application (Orthopedics, Cosmetic Surgery and Dermatology, Neurology, Cardiology and Others (Ophthalmology and Others)), By End User (Hospital, Blood Banks and Transfusion Centers, Ambulatory Surgical Centers and Others (Research Laboratories, Stand-alone Processing Facilities)) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/platelet-concentration-systems-market-4324
Key Takeaways of the Global Platelet Concentration Systems Market:
- Global platelet concentration systems market is expected to exhibit a CAGR of 10.2% during the forecast period, owing to advancements in platelet concentration technology, which is expected to drive growth of the global platelet concentration systems market. Platelet concentration system manufacturers are investing heavily in research and development to improve current technologies. Newer systems are more automated, allowing for quicker processing with less hands-on time. Some feature single-spin or double-spin concentration methods that yield higher platelet concentrations in PRP with minimal red blood cell contamination. Touchscreen interfaces and intuitive workflows make newer systems easier for technicians and physicians to operate. Some advanced systems can concentrate autologous stem cells from bone marrow aspirate in addition to isolating platelets. The ongoing technological advancements are enhancing the effectiveness and ease of use of platelet concentration systems. The improved features and functionality of new systems represents another key driver for increased adoption within the platelet concentration systems market.
- Among the technology type segments, Apheresis Technology segment is witnessing the highest growth. Apheresis technology allows for superior platelet yield compared to single or double spin technologies. According to the article published by the American Red Cross, 2020, it was reported that their apheresis devices collected an average of 6.1×1011 platelets in 2019, a 14% increase from the previous year. This significant improvement in platelet collection ability has solidified apheresis technology as the standard for major blood collection organizations across the U.S. and Canada.
- Among regions, North America accounts for the largest share in the global platelet concentration systems market. Within the region, single spin technology makes up the fastest growing subsegment currently. According to 2020 data from Health Canada, the number of single spin platelet collection procedures rose by almost 25% between 2017-2019. Single spin technology provides a lower-cost alternative to settings where optimal platelet yields may not be prioritized as highly as in large blood collection centers. Several blood banks and community hospitals have added single spin devices in recent years due to their simpler workflow and easier startup logistics compared to apheresis. Vendors like Terumo and Fenwal have experienced growing sales of single spin technologies in these types of smaller facilities. The ease of use and implementation of single spin is expected to continue fueling its increasing adoption relative to other technologies serving the North American platelet concentration systems market.
- Major players operating in the global platelet concentration systems market include Anthrax Inc., Stryker Corporation, Johnson & Johnson’s, Zimmer Biomet Holdings Inc., Terumo Corporation, Arteriocyte Medical Systems, Inc., Exactech Inc., Harvest Technologies Corp., and Nuo Therapeutics, Inc., Haemonetics Corporation, Fresenius SE & Co. KGaA, Macopharma, BioIVT, Stago, and Pall Corporation.
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