Platelet Rich Plasma Market is Expected to Reach a Value of USD 0.35 Billion by 2020
According to a recent market report published by Transparency Market Research, the global platelet rich plasma (PRP) market is estimated to experience a compound annual growth rate of 11.9% from 2014 to 2020, reaching a value of 0.35 Billion by the end of this period.
The study divided the PRP market by PRP types, origin, applications, and geography.
The three types of PRP treatments considered in the market study were:
- Pure-Platelet Rich Plasma (P-PRP)
- Leukocyte-Platelet Rich Plasma (L-PRP)
- Leukocyte-Platelet Rich Fibrin (L-PRF)
Pure-Platelet Rich Plasma (P-PRP) is characterized by having a high concentration of platelets and growth factors – this is considered the “conventional” PRP therapy, which currently holds more than 60% of the global market.
Leukocyte-Platelet Rich Fibrin (L-PRF) is a newer type of PRP therapy which includes a high number of white blood cells, known as leukocytes. L-PRF is anticipated to be the segment with the fastest growth from 2014 to 2020.
When classified by the origin, there are three PRP market segments:
From these, the current largest market belongs to the Autologous PRP segment, which is the type of PRP that is obtained from the same patient who will receive the PRP treatment. Since autologous PRP is derived from the own patient’s blood, it is easy to obtain and it eliminates the possibility of an immune rejection. According to the market study, the allogenic PRP is expected to grow significantly within the next years.
PRP therapy has several applications, including:
- Orthopedic Surgery
- Cosmetic Surgery
- General Surgery
- Other Surgeries
Orthopedic surgery is currently the largest application segment with more than 30% of the global PRP market. The efficacy of PRP in the treatment of orthopedic and sports injuries and the growing geriatric population in developed and developing countries, explain why this is the largest application segment of PRP therapy. The cosmetic applications are expected to grow significantly by 2020.
The Geographic segmentation of the PRP market is as follows:
- North America
- Rest of the World
Currently, North America is the largest geographical PRP market segment due to the increasing number of cosmetic and orthopedic procedures performed in the region, as well, the growing awareness about the efficacy of PRP therapy. The Asia-Pacific PRP market segment is expected to witness a strong growth during the upcoming years.