Platelet rich plasma (PRP) is a blood plasma derived product, which typically contains an elevated level of platelets and growth factors (at least four to eight times) than normal blood concentration. Increasing number of orthopedic surgeries and sports injuries, rising number of cosmetic surgeries, approval of new devices and discovery of new application areas and growing awareness amongst the global population are the prime factors driving the growth of global PRP market. According to the statistics provided by the International Society of Plastic and Aesthetic Surgeons (ISAPS), 11 million non-invasive cosmetic procedures were performed worldwide in 2013, including approximately 3.0 million dermal filler procedures.
Platelet rich plasma is a blood plasma product wherein a blood sample is spun to increase the concentration of platelets to four to eight times the normal blood platelet concentration. Platelet rich plasma is also referred to as platelet rich gel, platelet enriched gel, and platelet enriched plasma. Platelet rich plasma is an effective treatment to treat numerous diseases such as sports injuries, cardiothoracic diseases, neurological diseases, and orthopedic diseases. Also, PRP therapy finds applications in the cosmetic industry.
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The global platelet rich plasma market is segmented on the basis of geography, application, origin, and type. Based on type, the global platelet rich plasma market is classified into pure platelet rich plasma (pure-PRP), pure PRF/leukocyte-rich PRF, and leukocyte-rich PRP. In 2013, the global platelet rich plasma market was dominated by the pure platelet rich plasma segment due to the extensive use of P-PRP for various orthopedic diseases.
Based on origin, the global platelet rich plasma market is classified into homologous, autologous, and allogenic PRP. In 2013, the global platelet rich plasma market was led by the autologous PRP segment due to its cost effectiveness, lowest threat of disease, and ease of production.
PRP finds applications in neurosurgery, orthopedic surgery, cosmetic surgery, general surgery, and others. In 2013, orthopedic surgery was the biggest application segment in the global platelet rich plasma market.
By geography, the global platelet rich plasma market is divided into North America, Asia Pacific, Europe, and Rest of the World. Some of the prominent players operating in the global platelet rich plasma market are AdiStem Ltd., Arthrex, Inc., Cesca Therapeutics, Inc., Dr. PRP America LLC., Exactech, Inc., Nuo Therapeutics, Inc., Arteriocyte Medical Systems, Inc., Biomet, Inc., DePuy Synthes, Inc., EmCyte Corporation, Harvest Technologies Corp., and Stryker Corporation.
Transparency Market Research has published a new report on the global platelet rich plasma (PRP) market. As per the report, the global platelet rich plasma market is expected to expand at an 11.90% CAGR during the period from 2014 to 2020. The report, titled ‘Platelet Rich Plasma Market – Global Industry Analysis, Size, Share, Growth, Trends & Forecast 2014 – 2020,’ states that the market is expected to progress from US$0.16 bn in 2013 to US$0.35 bn by 2020. The increasing use of PRP in orthopedic treatments and cosmetic surgeries will impel the market’s growth.
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Technological advancements, regulatory approvals for new devices, the increasing occurrence of orthopedic diseases, the rising prevalence of sports injuries, and the growing awareness about PRP devices and products in emerging economies are predicted to propel the global platelet rich plasma market in the years to come. However, factors such as the high cost of PRP devices and the threat of the therapy failing are predicted to hamper the growth of the global platelet rich plasma market in the next few years. Also, the possibility of the transfer of a disease in the case of homologous and allogenic PRP is expected to restrict the growth of the global platelet rich plasma market.