The Global Platelet Rich Plasma (PRP) Market is set to grow on account of increase in the occurrence of orthopedic and sports injuries. Key insights have been shared by Fortune Business Insights in its report, titled “Platelet Rich Plasma Market Size, Share And Global Trend By Origin (Allogeneic, Autologous, Homologous), By Type (Pure PRP, Leukocyte rich PRP, Leukocyte rich fibrin), By Application (Orthopaedic surgery, Cosmetic surgery, General surgery, Neurosurgery, Others), And Geography Forecast Till 2026”. The reports analyses the different factors influencing the growth of this market during the forecast period.
Plasma is a part of blood that contains proteins that help in clotting of blood and support cell growth. Platelet-rich plasma is a substance that is injected into the body to accelerate healing. The basic idea is to stimulate the body to grow new and healthy cells by injecting the platelet-rich plasma into it. Cases where platelet-rich plasma injections are used include hair growth, tendon injuries, osteoarthritis, and post-surgical repair. It has also been applied to reduce inflammation and promote tissue healing.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
- Adistem Ltd
- DePuy Synthes Companies
- Isto Biologics
- Cesca Therapeutics Inc.
- Nuo Therapeutics, Inc.
- Stryker Sage
Quality and Cost Issues Hampering the Rise of the Market
While the global platelet rich plasma market is on the threshold of experiencing rapid growth, it has to overcome certain hurdles. These are mainly in the form of high costs platelet-rich plasma therapies and poor quality control of test results. Moreover, the US Food and Drug Administration has not yet approved of the platelet-rich plasma treatments. Such hindrances are hampering the smooth rise of the global platelet rich plasma market.
- Pure PRP
- Leukocyte rich PRP
- Leukocyte rich fibrin
- Orthopaedic surgery
- Cosmetic surgery
- General surgery
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
Stiff Competition in This Nascent Market
Competition in the global platelet rich plasma market has come to be characterised by mergers and acquisitions, and innovations. For example, the US-based Regenexx acquired another US-based company, Harbour View Medical Services, in 2017. In terms of innovation, the market players are getting fiercer. This was seen in 2016 when Alliance Partners received FDA approval for their Cyclone Platelet Rich Plasma (PRP) Concentrating System. Competition driven by innovation and diversification of product portfolios through mergers and acquisitions is expected to aid the growth of the global platelet rich plasma market in the forecast period.
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