Platelet-rich plasma is a variant of blood plasma where the platelet concentration is very high, which is almost 4x to 8x times the normal blood platelet concentration. Platelet-rich plasma is also referred as platelet enriched gels, platelet enriched plasma and platelet-rich gel. It is widely used in quick and effective treatment of numerous medical conditions such as orthopedic ailments, sports injuries, neurological diseases and cardiothoracic diseases. It has also been used in cosmetic surgeries as dermal fillers.
Platelet-rich plasma sector is predicted a market capitalization of $438 Million by the year 2024, with strong CAGR 13% in the period 2019-2024.
Key Players of Global Platelet Rich Plasma Market
The Global Platelet Rich Plasma Market is segmented based upon type, application, end user and geography.
Based upon type, the platelet rich plasma market is categorized as
Based upon application, the platelet rich plasma market is categorized as
Based upon end user, the platelet rich plasma market is categorized as
Based upon Geography, the platelet rich plasma market is categorized as
North America is the largest market in terms of market scope and potential. Orthopedics application segment is expected to witness the largest market share in the next five years. The growth in the market size in the region can be attributed to various factors, which includes prevalent rise in instances of several disorders like arthritis, well-established and organized healthcare infrastructure, robust regulatory framework followed by administrative support. With an aging population, the prevalence of medically diagnosed arthritis and osteoarthritis is predicted to show growth significantly.
Europe is a major market for platelet rich plasma in Healthcare sector. With a high income consumer, high level of disposable income, an aging population and high healthcare investment are some of the major driving factors in the region. Advance diagnostic processes, research and development of high level machine learning and state of the art medical infrastructure are market drivers.
Asia Pacific is the third largest market with tremendous scope in the foreseeable future. Countries like China, India and Japan are leading the market with increased investment and innovation in healthcare. The region is expected to hold huge potential in the future owing to high population density, rise in bones and joint related ailments and increasing in cosmetic surgeries.
Platelet Rich Plasma is extensively used in dermatology with anti-aging procedure which enhances facial shape and adds volume. In orthopedics, platelet rich plasma have found major acceptance owing to various benefits such as inflammation inhibition, stimulation of new cartilage formation and reduced pain simulation due to protein numbing.
Platelet rich plasma have also found use in sports medicine due to various benefits in treating acute ligament and muscle injuries, fractures, chronic tendon injuries, surgery, knee arthritis and reduced pain simulation.
Platelet-rich plasma market is expected to show significant growth due to such widespread application.
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