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30 May, 2022, 16:30 BST
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NEW YORK, May 30, 2022 /PRNewswire/ — As per Zion Market Research study, 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.
Key Industry Insights & Finding of the Platelet Rich Plasma Market Reports:
Zion Market Research published the latest report titled as "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." into their research database.
Platelet Rich Plasma Market: Overview
Platelet rich plasma (PRP) is used for making the blood. Platelets aid in blood clotting and assist tendons, muscles, and ligaments repair faster. PRP is used in a variety of operations, including rotator cuff augmentation and tendon repair. Healing factors and connective tissue development are abundant in platelets. The increase in the geriatric population, the rise in the prevalence of sports and orthopaedic injuries, the rise in the number of cosmetic surgical procedures, technical improvements, and increased knowledge about PRP therapies are the primary drivers driving market growth.PRP has been widely used in clinical settings in recent years. In the realm of cosmetic surgery, it has gained a lot of traction. The natural healing qualities of platelets are being used by plastic surgeons and dermatologists to improve the appearance and overall health of the skin.
Several research studies have looked at the use of Platelet Rich Plasma for face rejuvenation and found that it has excellent aesthetic outcomes. These treatments have improved the volume, tone, and texture of the skin while also reducing wrinkle appearance. The use of platelet rich plasma in dental and oral surgical procedures has shown to be effective. PRP has been suggested as a way to improve wound healing and bone maturation in bisphosphonate-related osteonecrosis of the jaw.
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Platelet Rich Plasma Market: Growth Drivers
Rising prevalence of sports injuries, an increase in the number of cosmetic and surgical treatments, and the increased use of platelet-rich plasma in numerous therapeutic sectors are all contributing to the market’s rise. In 2019, over 18.1 million cosmetic procedures were performed in the United States, according to the American Society of Plastic Surgeons (ASPS). The number of treatments performed has increased over the last five years, and people’s demand for minimally invasive cosmetic surgery has grown across the United States. Liposuction and facelifts are becoming increasingly fashionable. At least seven growth factors are found in platelet-rich plasma (PRP).
Platelet Rich Plasma Market: Restraints
A single PRP treatment will normally cost between $ 500 and 2,500 dollars. Treatments may need to be repeated in some cases. Platelet plasma therapy treatment costs differ depending on the provider and the number of injections required. The cost of a treatment varies depending on its location, facilities, and the expertise of the doctor performing it. It’s also worth noting that PRP treatment isn’t covered by many insurance policies.
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Platelet Rich Plasma Market: Opportunities
The market for platelet-rich plasma has continued to increase as a result of the several applications areas where plasma therapy can be applied, particularly in cosmetic operations. Companies in the platelet-rich plasma market are pursuing growth potential in hair and skin care in addition to musculoskeletal diseases. Microneedling, in combination with platelet-rich plasma injections, has shown to improve skin texture and appearance. To reach the bottom of the hair follicle, platelet-rich plasma is injected deeply into the scalp. This aids in the stimulation of dermal papilla cells, a specialised population of cells that contribute to hair development. Injections that aid in hair growth are being produced in greater quantities by platelet-rich plasma companies.
Global Platelet Rich Plasma Market: Segmentation
By product, the market is classified into pure PRP, leukocyte rich PRP and leukocyte rich fibrin. It is estimated that during the forecasted period pure rich plasma will have largest share. Pure PRPs’ benefits, such as quicker healing, tissue repair and production, and general function improvement, have enhanced their demand across several treatments business spaces, adding to segment expansion. Entities in the market are paying attention to the effective elimination of dangers and unwanted effects, such as an allergic or immunological reaction, in pure PRP therapeutic approaches. PRP’s present off-label use has prompted multiple firms throughout the world to produce various sorts of products, owing to its tremendous promise in treating a variety of chronic illnesses. The predicted clinical benefits of PRP could assist expand the commercialization of products derived from pure, leukocyte-rich, and leukocyte-rich fibrin platelet rich plasma.
By application, the market is divided into orthopedic surgery, cosmetic surgery, general surgery, neurosurgery and others.The orthopedic surgery is having the largest share. PRP has been proven to be most beneficial in the treatment of chronic tendon injuries, where it has the potential to speed up the healing process, according to several research studies. When compared to traditional techniques, PRP injections as orthopaedic therapies are more convenient because they encourage healing and lead to self-regeneration and repair of degenerative tissue. Furthermore, in orthopaedic surgery, a combination of surgical procedures and liquid PRP allows for a wide range of therapeutic solutions for the therapy of injuries.Platelet rich plasma as a rehabilitative and biological stimulation, combined with physiotherapy, helps to prevent disease progression and improve function in a shorter amount of time. Furthermore, PRP’s advantages, such as long-term comfort, enhanced post-surgery healing, soft tissue rebuilding, and bone regeneration and augmentation, are only a few of the elements driving growing demand for PRP-based orthopaedic treatments.
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List of Key Players of Platelet Rich Plasma Market:
Key questions answered in this report:
Market size value in 2021
USD 479.50 Billion
Revenue forecast in 2028
USD 936.35 Billion
CAGR of almost 11.80 % 2022-2028
2016 – 2021
2022 – 2028
By Product Type, By Application, and By End Use
Value (USD Billion), and Volume (Units)
Revenue in USD million/billion and CAGR from 2022 to 2028
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Arthrex, Inc , Zimmer Biomet , Harvest Technologies Corporation, Depuy Synthes, Inc.,Stryker Corporation, Adistem Ltd., ISTO Biologies,Cesca Therapeutics, Inc.,Exactech Inc.,and Nuo Therapeutics.
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
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North America dominated the market in 2020, accounting for 45.5 % of total sales. NA is having the largest share due to its greater knowledge of platelet rich plasma therapies, technological developments, and an increase in cosmetic surgery procedures in the region. Academic and research institutes, including as Yale School of Medicine and Springfield College of Health Care, Management and Technology, are actively involved in analyzing the application of platelet-rich plasma therapies in the region, which promotes market expansion. Furthermore, the presence of supporting regulatory bodies in North America is fueling market expansion. Platelet rich plasma products are regulated by the US Food and Drug Administration’s Center for Biologics Evaluation and Research.The CBER approves a 510(k) application to market platelet rich plasma preparation systems in the United States. As a result, the region’s market is growing thanks to a solid commercial and research base for platelet rich plasma therapies.
From 2021 to 2028, Asia Pacific is expected to have the greatest CAGR of 14.1%. Cosmetic operations to improve facial features are becoming more popular in nations like Korea, India, and Thailand, which is expected to drive market expansion in the area. Furthermore, the region’s burgeoning medical tourism business is likely to enhance market adoption.In addition, academic and research institutes such as the University of Tsukuba and Guangzhou University of Chinese Medicine are actively involved in studying the use of platelet rich plasma therapy.
Global Platelet Rich Plasma Market is segmented as follows:
Platelet Rich Plasma Market: By Product Outlook (2022-2028)
Platelet Rich Plasma Market: By Origin Outlook (2022-2028)
Platelet Rich Plasma Market: By Application Outlook (2022-2028)
Platelet Rich Plasma Market: By Region Outlook (2022-2028)
Middle East & Africa
Press Release For Platelet Rich Plasma Market: https://www.zionmarketresearch.com/news/global-platelet-rich-plasma-market
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