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Platelet Rich Plasma (PRP) Market
The growing usage of PRP for managing detrimental illnesses is a major factor driving the platelet rich plasma (PRP) market growth.
The platelets abundant in growth attributes and other bioactive proteins, injected in joints or tendons that promote healing, are pushing the market ahead.” - Polaris Market ResearchNEW YORK CITY, NY, UNITED STATES, September 30, 2024 /EINPresswire / -- The platelet rich plasma (PRP) market report by Polaris Market Research offers a comprehensive analysis of the market, covering all the major aspects to help stakeholders make informed decisions.
The platelet rich plasma (PRP) market is on a growth trajectory. The market is poised to reach USD 2,783.89 million by 2032, exhibiting a CAGR of 14.5% from 2024 to 2032. It was valued at USD 823.17 million in 2023.
What is Platelet Rich Plasmas?
Platelet rich plasma therapy is a configuration of regenerative medicine that capitalizes on and boost the organic growth elements detected in the blood cells to assist restore injured tissue. Plasma is the liquid segment of the entire blood. It is constituted extensively of water and proteins and offers a moderate red blood cell, white blood cells, and platelets to transmit through the body. Platelets, also known as thrombocytes, are blood cells that give rise to blood clots as well as alternate required growth and mitigating operations.
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PRP is assembled from the person's blood. It is the congregation of one kind of blood cell, which is crucial for blood clotting. This assembling is injected into a wounded or ailing constituent of a person's body to speed up the mitigation of injured tendons, ligaments, muscles, bones, and joints. A critical benefit of PR injections is that they can decrease the requirement for opioids or even over-the-counter anti-inflammatory medicines. The application of injection in general surgery and wound handling is impacting the platelet rich plasma (PRP) market favourably.
Who Makes Platelet Rich Plasma (PRP)?
.Apex Biologix
.Arthrex Inc.
.Dr. PRP USA LLC
.Isto Biologics
.Juventix Regenerative Medical, LLC
.Regen Lab SA
.RegenOrthoSport
.Terumo Cardiovascular Systems Corporation
.Vivostat
.Zimmer Biomet
are some of the leading players in the platelet rich plasma (PRP) market.
Spearheading market contenders are funding massively in research and development so as to augment their product lines which will assist the market to grow even more. Some of the latest developments in the market are:
.In November 2022, Crown Aesthetics rebranded ProGen PRP Advantage to ProGen PRP Eclipse, providing a progressive, adaptable, platelet-rich plasma system for constant outcomes.
.In April 2022, Isto Biologics obtained TheraCell Inc., improving its potential in orthobiologic resurgence technologies and cell-dependent therapies for spine and orthopedic care.
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What's Driving Market Forward?
.Growing Demand for Cosmetic Surgery: The growing demand for cosmetic methods has also assisted in the augmentation of this market growth. For instance, in 2020, the American Society of Plastic Surgeons announced a 25% upswing in PRP usage for cosmetic motivation over the former four years.
.Growing Minimally Invasive Treatments: The growing inclination for minimally invasive treatments situates PRP as a crucial commodity in the future of appealing medicine. Subsequently the market is assured for notable augmentation propelled by its manifested advantages and escalating demand across several therapeutic and cosmetic applications, thus, having a favourable impact on platelet rich plasma (PRP) market sales.
.Growing Cases of Orthopaedic Surgeries: The growing cases of orthopedic surgeries and arthritis worldwide have fuelled PRP demand. As per the Centers for Disease Control and Prevention (CDC), by 2040, 78 million US grownups are anticipated to have arthritis, underscoring the escalating requirement for productive cures such as PRP.
Which Region Leads Market Growth?
.North America: North America accounted for largest platelet rich plasma (PRP) market share. The region's robust growth is primarily due to growing demand for cosmetic surgeries, an elevated existence of orthopedic procedures, and growing sports connected wounds.
.Europe: Europe is anticipated to witness significant growth from 2024 to 2032. This can be attributed to the extensive acquisition of PRP therapy for the cure of musculoskeletal injuries. Conditions such as Achilles tendinopathy, plantar fasciitis, and tennis elbow are pushing the market growth.
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How Is Market Segmentation Done?
By Type Outlook
.Pure Platelet-Rich Plasma (P-PRP)
.Leukocyte-and Platelet-Rich Plasma (L-PRP)
.Pure Platelet-Rich Fibrin (P-PRF) – or Leukocyte-Poor Platelet-Rich Fibrin
.Leukocyte- and Platelet-Rich Fibrin (L-PRF)
By Application Outlook
.Orthopedics
.Sports Medicine
.General Surgery
.Dermatology
.Ophthalmology
.Neurology
.Cardiology
.Others
By End-Use Outlook
.Hospitals
.Clinics
.Others
By Regional Outlook
.North America (US, Canada)
.Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
.Asia Pacific (Japan, China, India, Malaysia, Australia, Indonesia. South Korea)
.Latin America (Brazil, Mexico, Argentina)
.Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
FAQs:
How much is the platelet rich plasma (PRP) market?
The market size was valued at USD 823.17 million in 2023 and is projected to be valued at USD 2,783.89 million in 2032.
What is the growth rate of platelet rich plasma (PRP) market?
The global market is projected to register a CAGR of 14.5% during the forecast period, 2023-2032.
Which region held the largest market share?
North America had the largest share of the global market.
Which type led the market?
The pure platelet-rich plasma (P-PRP) category dominated the market in 2023.
Browse PMR's Platelet Rich Plasma (PRP) Market Report Coverage from Different Publications:
Platelet Rich Plasma (PRP) Market Size Worth $ 2,783.89 Million By 2032 | CAGR: 14.5% | Polaris Market Research
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