The global Platelet Rich Plasma (PRP) market is estimated to be valued at US$442.7 million in 2022 and is expected to exhibit a CAGR of 12.4% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.
A) Market Overview:
Platelet Rich Plasma (PRP) is a regenerative treatment that accelerates healing and tissue regeneration. It is derived from the patient's own blood and contains concentrated platelets that release growth factors to stimulate tissue repair. PRP is widely used in orthopedics, dermatology, cosmetic surgery, and dentistry.
B) Market Dynamics:
The market dynamics driving the growth of the PRP market can be attributed to two main factors. Firstly, technological advancements have led to the development of automated PRP systems that provide standardized and reproducible PRP products. These systems offer ease of use, reduced processing time, and improved safety, thereby increasing their adoption among healthcare professionals.
Secondly, the increasing applications of PRP across various medical fields are propelling market growth. In orthopedics, PRP is used for the treatment of sports injuries, osteoarthritis, and tendinopathies. In dermatology, PRP is utilized for skin rejuvenation and hair restoration. Moreover, PRP is gaining popularity in dental procedures for promoting bone and tissue regeneration.
C) Market Key Trends:
An emerging trend in the PRP market is the growing adoption of combination therapies. Healthcare professionals are combining PRP with other regenerative treatments such as stem cell therapy or hyaluronic acid injections to enhance therapeutic outcomes. For example, in orthopedics, PRP is often used in combination with stem cells to improve cartilage repair in cases of osteoarthritis.
D) SWOT Analysis:
Strengths:
1. Enhanced effectiveness in wound healing
2. Increasing acceptance by healthcare professionals
Weaknesses:
1. Lack of standardized protocols for PRP preparation
2. Limited reimbursement policies
Opportunities:
1. Growing medical tourism in emerging economies
2. Expanding applications in veterinary medicine
Threats:
1. Stringent regulatory approval processes
2. Potential risk of infections associated with PRP procedures
E) Key Takeaways:
The global Platelet Rich Plasma Market is expected to witness high growth, exhibiting a CAGR of 12.4% over the forecast period. This growth is driven by technological advancements such as automated PRP systems and the increasing applications of PRP in various medical fields.
In terms of regional analysis, North America is expected to dominate the PRP market due to the presence of key market players and a high prevalence of sports injuries and orthopedic conditions.
Key players operating in the global PRP market include Arthrex, Inc., Stryker Corporation, Johnson & Johnson Ltd., Zimmer Biomet Holdings Inc., Terumo Corporation, Glofinn Oy, Medira Ltd., Regen Lab S.A., CollPlant, Generex Biotechnology Corporation, Estar Technologies Ltd., Dr. PRP America, Cesca Therapeutics, Inc., Arteriocyte Medical Systems, and Harvest Technologies Corp.
The global PRP market is poised to experience significant growth due to technological advancements, increasing applications, and the rising demand for regenerative treatments. However, challenges such as lack of standardization and reimbursement policies need to be addressed to fully realize the potential of PRP therapy.
There are people who suffer from severe hair fall for reasons that might be genetic or other health related issues.
Hair loss or thinning of hair is a common problem faced by both men and women which can also occur due to ageing or stress.While looking for a solution, one might come across several solutions but choosing the right one is what makes a difference.
There are some solutions which are proven to be significantly better at curing the problem than others.One such solution is known as PRP.What is PRP?Platelet-rich-plasma is a process in which a substance is taken from your blood and then injected into your scalp which further helps to cure a lot of problems such as follicles (where your hair grow from) and helps heal other bodily tissues.It is a process which increases the concentration of certain proteins that contribute towards healing in your body.Not just hair loss, but a number of health problems can be treated with the help of PRP such as tendon injuries and osteoarthritis.
As per studies, it is a proven scientific method to treat baldness in men, also known as androgenic alopecia.How effective is PRP for hair fall?We, at Vardaan Clinic aim to give the best results to our patients and believe in giving the right advice.Being an in-office, non-surgical treatment, PRP can be performed within 30 minutes.
PRP is more effective on patients with “weak quality” of hair growth on their scalp as opposed to those having shiny bald spot.According to research, the best candidate is the person who has recently started to experience loss of hair.
PRP isn’t advisable for people who are completely bald.It can be particularly effective in female pattern hair loss.Duration of the treatmentThe full procedure takes nearly 30 minutes to complete.
The global platelet rich plasma market is slated to touch a value of nearly US$ 391 Mn in the year 2022 and grow at a robust CAGR during the assessment period.
As per the forecast of Fact.MR, the pure platelet-rich plasma kits segment is slated to touch a value of nearly US$ 90 Mn in the year 2022.
The pure platelet-rich plasma kits segment is estimated to account for more than one-fourth of the revenue share of the product type segment by the year 2017 end and is expected to lose market share by the year 2022-end.Read Report Summary: https://www.factmr.com/report/170/platelet-rich-plasma-marketAs per the forecast of Fact.MR, the dermatology clinics segment will reach a value of nearly US$ 58 Mn in the year 2017.
Platelet-rich plasma has got many applications in the healthcare industry, especially in areas such as orthopedic surgeries, treatment of sports injuries and treatment of neurological diseases, amongst others.
Besides these applications, the platelet-rich plasma therapy is also finding new applications in treatment of medical conditions such as erectile dysfunction, and in the facelift surgeries.Request for Report Methodology: https://www.factmr.com/connectus/sample?flag=RM_id=170As platelet-rich plasma is derived from blood plasma along with several other growth factors, it facilitates a quick healing of bone tissues and other soft tissues.
However, the high costs involved in the platelet-rich plasma therapy may restrain the growth of this market during the forecast period.
