Market Size of Global Platelet Rich Plasma Industry
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 |
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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) 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 | ||||||||
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Global Platelet Rich Plasma Market Size Summary
The platelet-rich plasma (PRP) market is experiencing significant growth, driven by its increasing application in various therapeutic and cosmetic procedures. The demand for PRP is bolstered by its effectiveness in pain relief and tissue healing, making it a popular choice in orthopedics for treating sports injuries and osteoarthritis. The technique's ability to stimulate cartilage formation and reduce inflammation has led to its adoption in minimally invasive cosmetic surgeries, enhancing facial volume and shape. The COVID-19 pandemic further accelerated market expansion as PRP was utilized as an emergency treatment method, highlighting its versatility in medical applications. The growing preference for non-surgical interventions and the rising incidence of sports-related injuries are key factors propelling the market forward.
In the United States, the PRP market is supported by a robust healthcare infrastructure and a favorable regulatory environment, with increasing government support. The prevalence of arthritis and other musculoskeletal disorders, coupled with an aging population, is expected to drive demand for PRP therapies. The market is moderately competitive, with key players like Arthrex Inc., Zimmer Biomet, and EmCyte Corporation leading the charge. These companies are investing in research and development to explore new applications of PRP, such as in hair loss treatment and herniated disc management. As technological advancements continue, the market is likely to see new entrants, further intensifying competition and innovation in PRP therapies.
Global Platelet Rich Plasma Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rising Incidences of Sports Injuries
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1.2.2 Increasing Number of Cosmetic and Surgical Procedures
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1.2.3 Growing use of Platelet-rich Plasma in Various Therapeutic Areas
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1.3 Market Restraints
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1.3.1 Stringent Regulatory Policies
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1.3.2 High Prices of Plasma Therapy
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1.4 Industry Attractiveness - Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Buyers/Consumers
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1.4.2 Bargaining Power of Suppliers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Type
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2.1.1 Pure PRP
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2.1.2 Leukocyte-rich PRP
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2.1.3 Leukocyte-rich Fibrin
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2.1.4 Other Types
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2.2 By Application
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2.2.1 Orthopedics
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2.2.2 Cosmetic Surgery and Dermatology
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2.2.3 Neurology
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2.2.4 Cardiology
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2.2.5 Ophthalmology
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2.2.6 Other Applications
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2.3 By End User
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2.3.1 Hospitals and Clinics
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2.3.2 Research Institutes
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2.4 By Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle East & Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle East & Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Global Platelet Rich Plasma Market Size 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.