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Emerging Trends: Why Dynamics of Platelet-Rich Plasma (PRP) Market Is Changing Drastically? What If History Is Any Guide?

     

The chaos of COVID-19 is expected to impact the global platelet rich plasma market in the positive direction. Pure PRP accounted for highest market share in the previous years and orthopedics segment held the significant revenue share in 2019. Also, Asia-Pacific is expected to have most lucrative growth opportunities in the coming years. The key market players are executing various growth approaches to reinforce their foot print in global industry.

The coronavirus emergency has positively affected the global platelet rich plasma market and is expected to experience a remarkable growth in the coming years. During the emergency period, most of scientists and medical professionals are emphasizing their research to find efficient and possible treatment method for the COVID-19. They found plasma therapy is the one of the possible way of treating virus affected people and observed better results in the patient’s recovery through plasma therapy. This factor is eventually driving the market growth in the coronavirus pandemic time.

Furthermore, several government bodies are implementing various activities to help the businesses in the emergency time. For example, in current times, government of China has been encouraged the state owned enterprises (SOEs) to utilize technologies such as latest manufacturing and digital solutions to accelerate the sales and manufacturing activities after lockdown period. Also, government has released new grants for emerging sectors like internet of things, artificial intelligence and machine learning technologies in central SOEs as well as emphasize improvements in areas like healthcare and pharmaceutical products advancements.

Market Research

As per new study conducted by Research Dive, the global platelet rich plasma market is anticipated to generate a revenue of $824.7 million by 2027. The global market is classified into product, application and region. This report gives complete analysis about drivers, opportunities, restraints, segmental analysis and major market players in the global market.

Factors affecting the market growth

As per our analysts, increasing prevalence of orthopedic conditions along with increasing utilization of platelet rich plasma in cosmetic operations are projected to drive the market growth in the forecast years. But, huge costs associated with the treatment of procedures is expected to limit the platelet rich plasma market growth in the projected time.

Leukocyte-rich fibrin product will be the most profitable in the forecast time

The global market classification has been done on the basis of product into pure PRP, leukocyte-rich PRP and leukocyte-rich fibrin. In these, pure PRP segment generated for majority of the platelet rich plasma market share in the previous years and is estimated to continue its growth during the forecast time. This dominance is majorly owing to extensive usage of pure PRP products due to it has brilliant property of removing red blood cells. Besides pure PRP, leukocyte-rich fibrin product will experience a significant growth and is expected to rise at a highest rate during the estimated period. Growing utilization of leukocyte-rich fibrin in surgeries because it contains best healing proteins, which accelerate healing power for muscle generation and strong bones. This factor is expected to fuel the market growth in the projected time.

Orthopedics application held the global market size in previous years

Based on application, the global market has been classified into orthopedics, cosmetic surgery & dermatology, ophthalmic surgery, neurosurgery, general surgery and others. Among these, orthopedics application accounted for highest platelet rich plasma market size in the previous years and is projected to continue its growth in the coming years. The wide utilization of platelet rich plasma in orthopedic application due to its enhances the healing power of bones, which will drive the market growth in the estimated time. Also, cosmetic surgery & dermatology application will witness to rise at a significant rate and is projected to generate highest revenue during the forecast period. Increasing trend for facial appearance enhancement treatments is expected to boost the platelet rich plasma procedures, which will drive the market growth in the coming years.

Platelet rich plasma market, Regional analysis

The global platelet rich plasma market has dominated by North America region in the previous years and is projected to remain its dominance over the global market in the forecast time. Presence of well-established healthcare infrastructure and growing application of platelet rich plasma in orthopedic surgeries due to increasing elderly people across the North America region is expected to drive the market size in the forecast years. Along with North America, the market for Asia-Pacific market will witness to grow at a faster rate and is projected to generate significant growth opportunities in the global market during the forecast time. This expected growth is attributed to increasing government investments on the up-gradation of healthcare facilities along with growing cosmetic surgeries to improve facial features across the Asia-Pacific countries.

Significant market players in the global platelet rich plasma market

The significant players in the global platelet rich plasma market are Arthrex, Inc., Glofinn Co. Ltd., Stryker Corporation, ISTO Biologics, Exactech Inc., Zimmer Biomet, DePuy Synthes, Inc., AdiStem Ltd., Cesca Therapeutics, Inc. and Nuo Therapeutics.

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Mr. Abhishek Paliwal
Research Dive
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