The global Europe Platelet Rich Plasma market is estimated to be valued at US$ 110.4 Million in 2022 and is expected to exhibit a CAGR of 15.6% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Platelet Rich Plasma concentrates are blood plasma products with concentrations of platelets above baseline levels. They contain high concentrations of growth factors that aid in tissue healing and regeneration. PRP is derived from a small amount of autologous blood and then reintroduced into the body to reduce inflammation and promote faster healing of muscles, ligaments, and tendons after injuries.
Market key trends:
Growing prevalence of orthopedic disorders such as knee osteoarthritis, tennis elbow, and golfers elbow have been the major factors driving the growth of the Europe Platelet Rich Plasma market. According to Arthritis Foundation, arthritis affects over 52.5 million adults and 300,000 children in the U.S. Additionally, growing popularity of minimally invasive surgical procedures, advancements in PRP preparation technologies such as improved centrifugation systems, and rising awareness about the therapeutic potential of PRP are some other factors expected to propel the market growth over the forecast period. Furthermore, significant clinical effectiveness of PRP treatment in chronic musculoskeletal conditions compared to corticosteroid injections is also supporting its increased adoption across Europe.
Market key trends:
The Europe platelet rich plasma market has been witnessing rising adoption of pure PRP and leucocyte-rich PRP products. Pure PRP contains only platelets while leucocyte-rich PRP contains white blood cells along with platelets. The pure PRP variants are increasingly preferred over leukocyte-rich PRP due to lower risks of inflammation and infection. Additionally, the availability of advanced pure PRP systems that can separate platelets from other blood components using centrifugation techniques has boosted the demand.
SWOT Analysis
Strengths: Presence of major players with strong distribution network in the region. Rising popularity of minimally invasive cosmetic procedures boosts the market growth.
Weaknesses: High costs associated with PRP procedures limit the market potential. Lack of reimbursement policies challenges widespread adoption.
Opportunities: Untapped growth potential in emerging economies. Development of improved PRP preparation systems with advanced features.
Threats: Strong competition from alternative tissue-engineering products. Stringent regulatory approvals for new entrants.
Key Takeaways
Europe Platelet Rich Plasma Market Size was valued at US$ 110.4 Million in 2023. The market is driven by the increasing prevalence of orthopedic diseases and sports injuries in the region. Europe dominated over 30% of the global PRP market share in 2023 due to favorable reimbursement policies and rising medical tourism in countries like Germany and UK.
Regional analysis: Europe is the fastest growing region in the platelet rich plasma market due to rising geriatric population, increasing healthcare expenditure and growing awareness about the benefits of PRP therapies. Germany accounted for the largest share followed by UK, France and Italy due to established healthcare infrastructure and high adoption of advanced medical technologies.
Key players: Key players operating in the Europe Platelet Rich Plasma market are Vivostat A/S, Estar Medical, CosmoFrance Inc., Kelly Harris Aesthetics, Arthrex, Inc., Terumo Corporation, T-Biotechnology Ltd. St., EmCyte Corporation, Johnson & Johnson Private Limited, Zimmer Biomet, PRP Concepts, ADVACARE PHARMA, Isto Biologics, and Arthrex, Inc., Stryker, GLOFINN, Medira Ltd, Regen Lab SA, Estar Technologies Ltd. These players are focusing on new product launches and geographic expansion to strengthen their market position.
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