26-May-2022 | Zion Market Research
The global Platelet Rich Plasma market was worth around USD 479.50 billion in 2021 and is estimated to grow to about USD 936.35 billion by 2028, with a compound annual growth rate (CAGR) of approximately 11.80 percent over the forecast period. The report analyzes the digital remittance market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the digital remittance market.
The blood is made up of platelet rich plasma (PRP). Platelets help blood clot and speed up the healing of tendons, muscles, and ligaments. PRP is used in a variety of procedures, including tendon repair and rotator cuff augmentation. Platelets are rich in healing agents and connective tissue formation. The key drivers driving market expansion include an increase in the geriatric population, an increase in the prevalence of sports and orthopaedic injuries, an increase in the number of cosmetic surgical procedures, technological advancements, and increasing knowledge of PRP therapies. In recent years, PRP has become increasingly popular in clinical settings. It has gained a lot of interest in the field of cosmetic surgery.
Plastic surgeons and dermatologists use platelets' natural healing properties to improve the appearance and overall health of the skin. Several studies have looked into the use of Platelet Rich Plasma for facial rejuvenation and discovered that it produces excellent aesthetic results. These treatments enhanced the volume, tone, and texture of the skin, as well as the appearance of wrinkles. Platelet-rich plasma has been found to be beneficial in dental and oral surgical treatments. In bisphosphonate-related osteonecrosis of the jaw, PRP has been suggested as a technique to promote wound healing and bone maturation.
The market is divided into three categories: pure PRP, leukocyte rich PRP, and leukocyte rich fibrin. During the anticipated period, pure rich plasma is expected to hold the highest share. The advantages of pure PRPs, such as faster healing, tissue regeneration and production, and overall function enhancement, have increased their demand across a variety of therapy areas, contributing to sector expansion. In pure PRP treatment techniques, industry participants are focusing on the effective reduction of risks and undesired effects, such as an allergic or immunological reaction. Because of its immense promise in treating a range of chronic conditions, PRP's current off-label use has spurred a slew of companies around the world to develop a variety of products.PRP's anticipated clinical benefits may help to expand the commercialization of products generated from pure, leukocyte-rich, and leukocyte-rich fibrin platelet rich plasma.
The market is segmented into orthopaedic surgery, cosmetic surgery, general surgery, neurosurgery, and other applications. The most common procedure is orthopaedic surgery. According to various research studies, PRP is particularly effective in the treatment of chronic tendon injuries, where it has the potential to speed up the healing process. PRP injections as orthopaedic therapies are more convenient than traditional techniques since they induce healing and lead to self-regeneration and repair of degenerative tissue. Furthermore, a combination of surgical techniques with liquid PRP provides for a wide range of therapeutic treatments for the treatment of injuries in orthopaedic surgery.Platelet rich plasma, when paired with physiotherapy, can assist to prevent disease development and improve function in a shorter amount of time. PRP's benefits, such as long-term comfort, improved post-surgery healing, soft tissue reconstruction, and bone regeneration and augmentation, are just a few of the factors driving increased demand for PRP-based orthopaedic therapies.
In 2020, North America dominated the market with 45.5 percent of total sales. Because of its improved knowledge of platelet rich plasma therapies, technical advancements, and an increase in cosmetic surgery procedures in the region, NA has the biggest proportion. Academic and research institutes such as Yale School of Medicine and Springfield College of Health Care, Management and Technology are actively interested in researching the application of platelet-rich plasma therapies in the region, which helps to expand the market. In addition, the presence of supporting regulatory authorities in North America is boosting market growth. The Center for Biologics Evaluation and Research of the US Food and Drug Administration regulates platelet rich plasma products.A 510(k) application to sell platelet rich plasma preparation systems in the United States has been approved by the CBER. As a result of a strong commercial and research base for platelet rich plasma therapies in the region, the market is developing.
Key players functioning in the global Platelet Rich Plasma market include Arthrex, Inc , Zimmer Biomet , Harvest Technologies Corporation, Depuy Synthes, Inc.,Stryker Corporation, Adistem Ltd., ISTO Biologies,Cesca Therapeutics, Inc.,Exactech Inc.,and Nuo Therapeutics.
Browse the full “Platelet Rich Plasma Market By Product (Pure PRP, Leukocyte Rich PRP, Leukocyte Rich Fibrin), By Origin (Autologous PRP, Allogeneic PRP, Homologous PRP),By Application (Orthopedic Surgery, Cosmetic Surgery, Gerneral Surgery, Neurosurgery, Others) and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/platelet-rich-plasma-market
Global Platelet Rich Plasma market is segmented as follows:
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