ALBANY, New York, July 13, 2016 /PRNewswire/ --
The key competitors in the global platelet-rich plasma market are have a strong presence across North America, which has boosted the growth of the platelet-rich plasma market in the region. Consequently, in 2013, North America held over 50% of the market. However, the market players are looking eastward and are investing in emerging markets across Asia Pacific to expand their business. As a result, Asia Pacific has emerged as the fastest developing market for platelet-rich plasma. The rising awareness about PRP products and devices across the developing economies has played a key role in the development of this regional PRP market. "The development of new PRP devices and, commercialization and promotion of these devices would open new avenues for the market players," a TMR analyst recommends.
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The key competitors in the global PRP market have been registering an increased demand for leukocyte-rich PRP or L-PRP. The L-PRP segment is anticipated to be the fastest growing segment among the other types of platelet-rich plasma in the coming years. Earlier, in 2013, pure platelet-rich plasma or P-PRP accounted for 60% of the overall market.
Risks of Therapy Failure Cast Shadow over Growth of Global Platelet-Rich Plasma Market
The growing prevalence of orthopedic diseases and sports injuries has propelled the demand for platelet-rich plasma for orthopedic surgeries. Rise in cosmetic surgeries, coupled with technological advancements and regulatory approvals for new devices has supported the market's growth. However, the high cost of PRP products and devices might impede the growth of the market in the coming years. "Threats of therapy failure and disease transfer in case of homologous and allogenic PRP might resist the expansion of the market," the analyst points out.
Orthopedic Surgeries to Drive Demand for Platelet-Rich Plasma
In terms of origin, platelet-rich plasma is categorized into allogenic, autologus, and homologus. The autologus segment held the largest market share in 2013. However, the allogenic segment is anticipated to witness the highest demand during the forecast period. Platelet-rich plasma is widely used across cosmetic surgery, orthopedic surgery, neurosurgery, general surgery, and others. The orthopedic surgery segment dominated the overall market in 2013. "Platelet-rich plasma technologies lead to cost-effective orthopedic surgeries," TMR states.
The global platelet-rich plasma market is anticipated to expand at a CAGR of 11.9% during the period between 2014 and 2020. The market stood at a valuation of US$0.16 bn in 2013 and is projected to be worth US$0.35 bn by 2020.
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The review is based on the findings of a TMR report, titled "Platelet Rich Plasma Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020."
Global platelet-rich plasma market has been segmented as:
Global Platelet Rich Plasma (PRP) Market, by Types
- Pure-Platelet Rich Plasma (P-PRP)
- Leukocyte-Platelet Rich Plasma (L-PRP)
- Leukocyte-Platelet Rich Fibrin (L-PRF)
Global Platelet Rich Plasma (PRP) Market, by Origin
Global Platelet Rich Plasma (PRP) Market, by Applications
- Orthopedic Surgery
- Cosmetic Surgery
- General Surgery
- Other Surgeries (Oral and Maxillofacial, Cardiothoracic, Periodontal and Urological)
Global Platelet Rich Plasma (PRP) Market, by Geography
- North America
- Rest of the World (RoW)
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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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