Global Platelet Rich Plasma Market, 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), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 442.7 Million in 2022 and is expected to exhibit a CAGR of 12.4% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
The increasing application of platelet rich plasma in various musculoskeletal disorders is expected to drive the market growth over the forecast period. For instance, on June 5, 2022, a research article published in Journal of Skin and Steam Cells, where researchers found that under sterile conditions platelet rich plasma preparation and administration protocol reduced the prevalence of further contamination and complications associated with it. The occurrence of infection after injection was zero, even in patients with hemophilia. When carried out under controlled circumstances, platelet rich plasma therapy is effective for treating a wide range of etiologies and involves both intra-articular and soft tissue operations with no danger of infection.
Global Platelet Rich Plasma Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
However, the COVID-19 pandemic had a positive impact on global platelet rich plasma market. For instance, on July 8, 2021, an article published in National Library of Medicine, stated that the use of autologous activated platelet rich plasma therapy in treating severe COVID-19 is found to lessen the plasma IL-1β concentration which has proved beneficial to intercept pulmonary fibrosis after the patient has been recovered.
Global Platelet Rich Plasma Market: Key Developments
Increasing inorganic activity such as partnership among market players is expected to boost the growth of global platelet rich plasma market over the forecast period. For instance, on July 1, 2021, Celularity, which is clinical stage biotechnology company developing cell therapies and biomaterial products and Arthrex developer of minimal invasive orthopedic technology enteredinto an exclusive supply and distribution agreement for multiple placental-derived biomaterial commercial products. By this partnership, Arthrex will be able to distribute and commercialize Celularity’s biomaterial products for orthopedic surgery and sports medicine.
On July 16, 2021, the U.S. food and drug association approved belumosudil for the treatment of graft-versus-host disease (GVHD), it is a general complication of bone marrow and steam cell transplant. Belumosudil which is also known by its brand name rezurock, it is used in adult and pediatric patient who are above the age of 12 year after the failure of at least 2 proper lines of systemic therapy
Browse 27 Market Data Tables and 31 Figures spread through 156 Pages and in-depth TOC on “Global Platelet Rich Plasma Market”- Forecast to 2030, Global Platelet Rich Plasma Market, 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), 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-rich-plasma-market-936
Moreover, increasing inorganic activities such as acquisition by market players is expected to boost the growth of market over the forecast period. For instance, in March 2020, EmCyte Corporation, a global provider of platelet rich plasma and progenitor stem cell biologics announced the acquisition of all of the assets of Cellmedix Holdings, Manufacturer of platelet concentration product including the Centrepid Platelet Concentrator system.
Key Takeaways of the Global Platelet Rich Plasma Market:
- The platelet rich plasma market is expected to exhibit a CAGR of 12.4% during the forecast period due to the increasing adoption of strategies such as partnership. For instances, on February 7, 2022, Ortho Regenerative Technologies, which is a clinical stage regenerative medicine company partnered with an undisclosed device company exclusive use of their proprietary platelet rich plasma (PRP) system in Ortho Regenerative Technologies upcoming Phase I/II U.S. clinical trial of ORTHO-R rotator cuff tear repair.
- Among applications, orthopedic surgery segment is estimated to hold a dominant position in the global platelet rich plasma market over the forecast period, owing to the increased applications. For instance, on August 8, 2022, an research article published in Cureus journal researchers study shows that PRP is effective in reducing healing time and is associated with a significantly shorter period taken to return to work/activities of daily living in patients post pilonidal sinus surgery.
- Among regions, North America is estimated to account for the largest market share in the global platelet rich plasma market over the forecast period, owing to high rate of adoption of advanced products and rise in penetration of new market entrants with novel technology are likely to boost the platelet-rich plasma market in North America. For instance, on April 20, 2021 Nuo Therapeutics, a biomedical company which manufacturers the biodynamic therapies for wound care announced the final publication for autologous blood derived product for chronic non healing wounds. The Centers for Medicare & Medicaid Services (CMS) has finalized under Section 1862(a) (1) (A) that Medicare may use autologous platelet-rich plasma (PRP) to treat chronic non-healing diabetic wounds (DFU) concluded with a note on compensation decisions of the Social Security Act.
- 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, Estar Technologies Ltd., Dr. PRP America, Cesca Therapeutics, Inc., Arteriocyte Medical Systems, Harvest Technologies Corp.
