As per the latest research, the Global Platelet Rich Plasma (PRP) Market is estimated to total US$ 370.78 Mn in 2021. With growing scope of applications in orthopedic, cosmetics, and general surgery, the market is set to register a steady CAGR of 6% between 2021 and 2031.
Rising incidence of sports injuries, high prevalence of chronic orthopedic conditions, growing disposable income, and increasing willingness to spend on cosmetic and advanced surgical procedures are some of the primary factors driving the platelet rich plasma market.
Platelet rich plasma (PRP) is used in various applications in the medical field such as in tissue regeneration, wound healing, scar revision, skin rejuvenating effects, and alopecia. It also has shown promising results in the treatment of various conditions such as osteoarthritis.
PRP application has become hugely popular in cosmetic surgery. PRP injections are being extensively used to treat hair loss conditions such as alopecia. As there is no proper treatment available for androgenic alopecia, the demand for platelet rich plasma is slated to rise during the forecast period.
Rise in working women population is positively impacting the PRP market. PRP procedures are often conducted as a part of anti-aging treatment, especially in women folk. It is believed that PRP therapy rejuvenates skin and reduces fine lines and wrinkles.
Pure-platelet rich plasma will continue to dominate the market as the product type registering maximum sales during the forecast period. Clinically proven advantages of pure PRP in the treatment of chronic diseases will seal the dominance of the segment in global market.
North America leads the platelet rich plasma market. The U.S. is expected to emerge as the most lucrative pocket within North America. Rising number of plastic surgeries conducted in the U.S. will create attractive scope for the expansion of the market.
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Besides this, the presence of some of the leading market players such as Zimmer Biomet and Dr PRP America and the country’s robust healthcare infrastructure will present conducive environment for the expansion of PRP market in the U.S.
“Tier 1 companies will continue dominating the platelet rich plasma market through the forecast period. Amidst soaring competition, focus towards strategic partnership will increase among market players,” says the FMI analyst.
Key Takeaways from Platelet Rich Plasma Market Survey
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Leading players operating in the platelet rich plasma market are investing heavily in research and development activities. They are adopting various growth strategies such as mergers, partnerships, advanced product launches and collaborations to gain a competitive edge in the market.
Some of the prominent players operating in the platelet rich plasma market profiled by FMI are:
More Insights on the Global Platelet Rich Plasma Sales Outlook
FMI provides an unbiased analysis of platelet rich plasma market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global demand for platelet rich plasma with a detailed segmentation on the basis of:
Key Questions Covered in the Platelet Rich Plasma Sales Outlook Report