Platelet-Rich Plasma (PRP) Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 410.75 Million |
| Market Size (2029) | USD 632.86 Million |
| CAGR (2024 - 2029) | 9.03 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Platelet-Rich Plasma (PRP) Market Analysis
The Global Platelet Rich Plasma Market size is estimated at USD 410.75 million in 2024, and is expected to reach USD 632.86 million by 2029, growing at a CAGR of 9.03% during the forecast period (2024-2029).
The current COVID-19 pandemic further helped expand the market due to the lack of antiviral therapies and the fact that plasma therapy comes under an emergency treatment method. One of the benefits of platelet-rich plasma is that it can be used for pain relief during COVID-19. This technique, which has been used to avoid surgery, is also effective in providing short-term pain relief in patients waiting to be cleared for surgical intervention and not wanting to be further postponed by the adverse effects of steroids.
The key factors that are augmenting the market's growth include rising incidences of sports injuries, an increasing number of cosmetic and surgical procedures, and the growing use of platelet-rich plasma in various therapeutic areas. As per the American Society of Plastic Surgeons (ASPS), approximately 18.1 million cosmetic procedures were performed in 2019 in the United States. It was observed that the number of procedures increased over the last five years, and the preference of people for minimally invasive cosmetic surgery across the United States has increased. Procedures like liposuction and facelifts are growing in popularity.
Platelet-rich plasma (PRP) contains at least seven growth factors. It can be used for various treatments, such as chronic tendon injuries, acute ligament and muscle injuries, surgery, knee arthritis, fractures, and pain. In orthopedics, the use of PRP is expected to increase over the forecast period. PRP is increasingly being used in the treatment of acute sports injuries, such as muscle injuries. The popularity of PRP is on the rise, but its true effectiveness is yet to be fully established. Thus, the PRP is widely used in surgery to repair torn knee ligaments, such as the anterior cruciate ligament (ACL). The PRP facilitates the fast healing of the tissue after surgical procedures.
Several research studies are currently being conducted to evaluate the effectiveness of PRP in other treatment areas, such as in the case of herniated disc and hair loss. The use of PRP has grown widely in different therapeutic areas due to the increasing availability and ability to enable faster healing. Additionally, this treatment can reduce the economic costs of standard medical procedures, although it cannot replace certain important conventional therapies.
Platelet-Rich Plasma (PRP) Market Trends
This section covers the major market trends shaping the Platelet Rich Plasma Market according to our research experts:
The Orthopedics Segment is Expected to Hold the Largest Market Share
The US Food and Drug Administration witnessed a tremendous rise in the number of clinical trials in the past few months regarding the use of plasma-rich proteins in treating the coronavirus. Various manufacturers operating in the plasma therapy market are investing heavily in R&D and clinical trials in the hope of coming up with an antivirus to fight the coronavirus.
According to the article published in the Lancet Journal in 2020, arthritis is the leading cause of disability among adults. Moreover, knee osteoarthritis has a high prevalence among all osteoarthritis. In 2020, there were approximately 654 million people in the world who had knee OA (age 40 and up). Knee osteoarthritis was found to be prevalent in people aged 20 and up at a rate of 203 per 10,000 person-years.
Despite not being considered the standard practice, a growing number of people are opting for PRP injections to treat an expanding list of orthopedic conditions, including osteoarthritis. It is most commonly used for knee osteoarthritis but may be used on other joints as well. While treating osteoarthritis with platelet-rich plasma, a doctor injects PRP directly into the affected joint to reduce pain, improve joint function, and slow, halt, or even repair damage to the cartilage. In such cases, platelet-rich plasma is derived from a sample of the patient's blood.
Thus, platelet-rich plasma therapy is witnessing a significant rise in its popularity and acceptance for treating arthritis since it inhibits inflammation, reduces the rate of progression of osteoarthritis, stimulates the formation of new cartilage, and increases the production of natural lubricating joint fluid, in turn, easing painful joint friction. Moreover, it contains proteins that alter a patient's pain receptors, hence reducing pain sensation. Hence, the factors mentioned above are expected to fuel the growth of the orthopedics segment.
North America Dominates the Market and is Expected to show a Similar Trend over the Forecast Period
The market growth in the United States can be attributed to several factors, including the rise in the prevalence of several disorders, such as arthritis, well-established healthcare infrastructure, better regulatory framework, and government support. As per a survey conducted by the Centers for Disease Control and Prevention (CDC) in 2020, in the United States, one out of every four adults suffered from arthritis, and an estimated 78 million adults are expected to suffer from the disease by 2040.
Moreover, in the region, due to the growing aging population, the prevalence of doctor-diagnosed arthritis is expected to rise significantly over the forecast period. Osteoarthritis is the most prevalent type of arthritis, and it affects about 31 million Americans every year.
PRP is also one of the techniques that are very commonly used in cosmetic procedures. Platelet-rich plasma treatment is the latest anti-aging procedure for enhancing facial shape and adding volume. Hence, all these factors mentioned above are expected to contribute to the growth of the platelet-rich plasma market in the region.
Platelet-Rich Plasma (PRP) Industry Overview
The market is moderately competitive with few key players. Some key market players include Arthrex Inc., Cambryn Biologics LLC, China Biologic Products Inc., DePuy Synthes, Dr. PRP USA LLC, EmCyte Corporation, Glofinn Oy, T-Biotechnology, Terumo BCT Inc., and Zimmer Biomet. With the advancement in technology, new players are expected to enter the market.
Platelet-Rich Plasma (PRP) Market Leaders
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EmCyte Corporation
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Zimmer Biomet
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Johnson & Johnson (DePuy Synthes)
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Arthrex Inc.
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Terumo BCT Inc.
*Disclaimer: Major Players sorted in no particular order
Platelet-Rich Plasma (PRP) Market News
- In February 2021, Atlas Health Medical Group announced PRP (Platelet-rich Plasma) Microneedling Facelifts for patients.
- In February 2020, EmCyte completed the acquisition of Cellmedix Holdings LLC, including all the assets of the US-based company, which also included its proprietary product system, namely Centrepid Platelet Concentrator.
Platelet-Rich Plasma (PRP) Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Rising Incidences of Sports Injuries
- 4.2.2 Increasing Number of Cosmetic and Surgical Procedures
- 4.2.3 Growing use of Platelet-rich Plasma in Various Therapeutic Areas
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4.3 Market Restraints
- 4.3.1 Stringent Regulatory Policies
- 4.3.2 High Prices of Plasma Therapy
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4.4 Industry Attractiveness - Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Buyers/Consumers
- 4.4.2 Bargaining Power of Suppliers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
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5.1 By Type
- 5.1.1 Pure PRP
- 5.1.2 Leukocyte-rich PRP
- 5.1.3 Leukocyte-rich Fibrin
- 5.1.4 Other Types
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5.2 By Application
- 5.2.1 Orthopedics
- 5.2.2 Cosmetic Surgery and Dermatology
- 5.2.3 Neurology
- 5.2.4 Cardiology
- 5.2.5 Ophthalmology
- 5.2.6 Other Applications
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5.3 By End User
- 5.3.1 Hospitals and Clinics
- 5.3.2 Research Institutes
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5.4 By Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Italy
- 5.4.2.5 Spain
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 Japan
- 5.4.3.3 India
- 5.4.3.4 Australia
- 5.4.3.5 South Korea
- 5.4.3.6 Rest of Asia-Pacific
- 5.4.4 Middle East & Africa
- 5.4.4.1 GCC
- 5.4.4.2 South Africa
- 5.4.4.3 Rest of Middle East & Africa
- 5.4.5 South America
- 5.4.5.1 Brazil
- 5.4.5.2 Argentina
- 5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Arthrex Inc.
- 6.1.2 Isto Biologics
- 6.1.3 Vertical Spine LLC
- 6.1.4 DePuy Synthes
- 6.1.5 Dr. PRP USA LLC
- 6.1.6 EmCyte Corporation
- 6.1.7 Glofinn Oy
- 6.1.8 T-Biotechnology
- 6.1.9 Terumo BCT Inc.
- 6.1.10 Zimmer Biomet
- 6.1.11 Harvest Technologies Corporation
- 6.1.12 ISTO Biologics
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Platelet-Rich Plasma (PRP) Industry Segmentation
As per the scope of the report, platelet-rich plasma is defined as autologous blood with concentrations of platelets above baseline levels (which contains at least seven growth factors). Platelet-rich plasma therapy employs injections of the patient's concentrated platelets to accelerate the healing of injured tendons, ligaments, muscles, and joints. The platelet-rich plasma market is segmented by type (pure PRP, leukocyte-rich PRP, leukocyte-rich fibrin, and other types), application (orthopedics, cosmetic surgery and dermatology, neurology, cardiology, ophthalmology, and other applications), end user (hospitals and clinics and research institutes), and geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
| By Type | Pure PRP | |
| Leukocyte-rich PRP | ||
| Leukocyte-rich Fibrin | ||
| Other Types | ||
| By Application | Orthopedics | |
| Cosmetic Surgery and Dermatology | ||
| Neurology | ||
| Cardiology | ||
| Ophthalmology | ||
| Other Applications | ||
| By End User | Hospitals and Clinics | |
| Research Institutes | ||
| By Geography | North America | United States |
| Canada | ||
| Mexico | ||
| By Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| By Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| By Geography | Middle East & Africa | GCC |
| South Africa | ||
| Rest of Middle East & Africa | ||
| By Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Platelet-Rich Plasma (PRP) Market Research FAQs
How big is the Global Platelet Rich Plasma Market?
The Global Platelet Rich Plasma Market size is expected to reach USD 410.75 million in 2024 and grow at a CAGR of 9.03% to reach USD 632.86 million by 2029.
What is the current Global Platelet Rich Plasma Market size?
In 2024, the Global Platelet Rich Plasma Market size is expected to reach USD 410.75 million.
Who are the key players in Global Platelet Rich Plasma Market?
EmCyte Corporation, Zimmer Biomet, Johnson & Johnson (DePuy Synthes), Arthrex Inc. and Terumo BCT Inc. are the major companies operating in the Global Platelet Rich Plasma Market.
Which is the fastest growing region in Global Platelet Rich Plasma Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Platelet Rich Plasma Market?
In 2024, the North America accounts for the largest market share in Global Platelet Rich Plasma Market.
What years does this Global Platelet Rich Plasma Market cover, and what was the market size in 2023?
In 2023, the Global Platelet Rich Plasma Market size was estimated at USD 376.73 million. The report covers the Global Platelet Rich Plasma Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Platelet Rich Plasma Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Platelet Rich Plasma (PRP) Industry Report
Statistics for the 2024 Platelet Rich Plasma (PRP) market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Platelet Rich Plasma (PRP) analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
