Global Platelet Rich Plasma Market Was Valued At USD 189.53 Million In 2017
Friday, 26 Oct, 2018
Increasing number of patients suffering from orthopedic injuries, rising number of cosmetic surgeries, growing awareness about advantages and applications of PRP products and introduction of new devices and application areas are considered as the important factors driving the growth of this market. The global platelet rich plasma market was valued at USD 189.53 million in 2017 and is estimated to reach a market value of USD 448.09 million in 2025growing at a CAGR of 11.3% from 2017 to 2025.
In 2017, P-PRP is the largest segment of PRP utilized globally and held more than 63% of market share in the global PRP market. Rich content of platelets and growth factors and conventional type of PRP are the key factors that contributed in the dominance of P-PRP segment. Meanwhile, L-PRF is anticipated to be the fastest growing segment during the forecast period from 2017 to 2025.
PRP products are used for improving the rate of injury healing process in sports and orthopedic diseases and as dermal fillers in cosmetic industries. Orthopedic surgery was the largest application segment in 2017, accounting for more than 37% of the global PRP market. Multiple applications of PRP in cosmetic surgeries and its cost-effectiveness are the prominent factors catalyzing growth of this market in cosmetic surgery.
Geographically, in 2017 North America dominated the global PRP market and held more than 53% of the market share. Factors such as increasing number of cosmetic and orthopedic surgeries, key players domiciled in the region and strong awareness about PRP therapy and devices are supporting the dominance of the region. However, Asia-Pacific is estimated to witness strong growth and emerge as the most promising and fastest growing market during the forecast period from 2017 to 2025.
The global platelet rich plasma market is dominated by selective players such as Harvest Technologies, Zimmer Biomet, Arthrex, DePuy Synthes, Stryker and others. These top 5 players account for about 83% market share together.