Platelets are storage pools ofgrowth factors such as platelet-derived growth factor, transforming growthfactor-ß, platelet-derived epidermal growth factor, vascular endothelial growthfactor, insulin-like growth factor-1, fibroblastic growth factor and epidermalgrowth factor. Platelets also contain cytokines and other proteins, whichpromote wound healing.
Statistics
The global Platelet-RichPlasma Market is estimated to account for US$ 352.8 Mn in terms of value in2020 and is expected to reach US$ 780.8 Mn by the end of 2027.
Global Platelet-rich PlasmaMarket: Drivers
Approval and launch of newproducts is expected to propel growth of the global platelet-rich plasma marketover the forecast period. For instance, in August 2020, Ortho RegenerativeTechnologies Inc. announced that Ortho-R, a Chitosan-based matrix biopolymermixed with platelet-rich plasma, is designated as a Drug/Biologic combinationproduct, by the FDA Office for Combination Products.
Global Platelet-rich PlasmaMarket: Opportunities
R&D in platelet-rich plasmais expected to offer lucrative growth opportunities for players in the globalplatelet-rich plasma market. For instance, in September 2020, researchers fromVictoria University, Australia, reported that leucocyte-rich platelet-richplasma has a continuous stimulatory anabolic and ergogenic effect on humanfibroblast cells.
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Global Platelet-rich PlasmaMarket: Restraints
The reimbursement criteria forthe use of platelet-rich plasma therapy in cosmetic surgeries have remainedunchanged, as of April 2014. This fact is likely to restrict the use ofplatelet-rich plasma products for cosmetic surgeries. Such scenario is expectedto hinder growth of the global platelet-rich plasma market.
Key Takeaways:
The global platelet-rich plasmamarket was valued at US$ 314.6 Mn in 2019 and is forecast to reach a value ofUS$ 780.8 Mn by 2027 at a CAGR of 12.0% between 2020 and 2027. Major factordriving the growth of global platelet rich plasma market during the forecastperiod include technological advancement, and increasing prevalence of chronicdiseases.
Pure PRP held dominant positionin the global platelet-rich plasma market in 2019, accounting for 40.9% sharein terms of value, followed by Leukocyte rich PRP and Pure PRF, respectively.Increasing use of plasma therapy is expected to support growth of the segmentover the forecast period.
Market Trends
Increasing geriatric populationis expected to boost growth of the global platelet-rich plasma market. Forinstance, according to the U.S. Census Bureau, the U.S. geriatric population isexpected to reach 77 million by 2034.
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Moreover, increasing adoption ofplatelet-rich plasma is also expected to boost growth of the globalPlatelet-rich plasma market. For instance, in August 2019, A-to-ZenRegenerative Medicine in Bellevue, Washington, announced expansion of leadingmenu of skin rejuvenation treatments with state-of-the-art platelet-rich plasma(PRP) Facials and PRP Facelifts for all-natural, age-defying complexionbenefits.
Global Platelet-rich Plasma Market:Competitive Landscape
Major players operating in theglobal platelet-rich plasma market include, Arthrex, Inc., Stryker Corporation,Johnson and Johnsons Ltd., Zimmer Biomet Holdings Inc., Terumo Corporation,Glofinn Oy, Medira Ltd., Regen Lab S.A., CollPlant, Generex BiotechnologyCorporation, and Estar Technologies Ltd.
Global Platelet-rich PlasmaMarket: Key Developments
Major players in the globalplatelet-rich plasma market are focused on adopting M&A strategies toenhance their market share. For instance, in January 2019, GenerexBiotechnology Corporation entered into a letter of intent to acquire MedisourcePartners, an FDA-registered distributor of medical and surgical productsincluding supplies kits to process bone marrow aspirates and platelet-richplasma biologics at the time of surgery.
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