Platelet Rich Plasma Market registering a CAGR of 15.1% from 2023 to 2030

Platelet Rich Plasma Industry Overview

The global platelet rich plasma (PRP) market size was valued at USD 627.9 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 15.1% from 2023 to 2030.

Platelet-rich plasma usage is witnessing growth owing to the increasing participation in sporting events leading to an increasing cases of sports injuries and upsurge in cosmetic surgery. Increasing research applications of platelet rich plasma (PRP) are also fueling the industry growth. For instance, in 2020, according to the American Society of Plastic Surgeons, a 25% rise in the use of PRP in cosmetics was observed in the last 4 years. In March 2020, the WHO declared COVID-19 as a global pandemic. This outbreak has considerably affected the complete global market. In response to the COVID-19 outbreak, governments of counties and states announced protective or preventative actions, such as imposing restrictions.

Gather more insights about the market drivers, restrains and growth of the Platelet Rich Plasma Market

In recent years, there has been an spur in demand for use of platelet-rich plasma in the treatment of sports injuries, orthopedic disorders, and musculoskeletal conditions. It concentrates on growth factors and can significantly improve healing time. Regenerative medicines too have PRP as an important source of custom products for each patient, supporting wound healing and repair cascade.

Platelet-rich plasma has evolved in plastic surgery. It has promising results to utilize the body’s own natural tissue repair process to achieve improved form and improved function. The characteristics such as ease of use, inexpensive to produce utilizing patient’s cells, and little or no risk of adverse reactions. are being the major reasons for in rising adoption of PRP in treatments.

Platelet-rich plasma has multiple utilities in skin rejuvenation improving skin texture and color, and lighting wrinkles depth. Currently, evidence has shown micro-needling and topical application of PRP in improving collagen production and skin tightening for vampire facials. It has also emerged in application in skin pigmentation disorders and treating acne scars. In hair transplants, PRP can bind to growth factors and elevates the proliferation of human derma papilla cells leading to the formation and maintenance of hair follicles. Thus, PRP has a growing number of uses leading to an increase in market growth.

Dental uses such as wound healing and bone formation of bisphosphonate-based osteonecrosis of the jaw and soft tissue healing in the alveolar socket after tooth removal is promising results of PRP. Moreover, medicinal factors are anticipated to generate several therapeutic expansion opportunities driving market growth in the future.

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Platelet Rich Plasma Market Segmentation

Grand View Research has segmented the global platelet rich plasma market based on type, application, end-use, and region:

PRP Type Outlook (Revenue, USD Million, 2018 - 2030)

Pure Platelet Rich Plasma
Leukocyte Rich Platelet Rich Plasma
Others

PRP Application Outlook (Revenue, USD Million, 2018 - 2030)

Orthopedics
Sports Medicine
Cosmetic Surgery
Dermatology
- Ulcer Healing
  - Venous Ulcer
  - Traumatic Ulcer
  - Diabetic Ulcer
  - Pyoderma Gangrenosum Ulcer
  - Trophic Ulcer
  - Vasculitic Ulcer
  - Others
- Others
Ophthalmic Surgery
Neurosurgery
General Surgery
Others