Platelet Rich Plasma Market Size, Industry Share 2022-2028
The global platelet rich plasma market size was valued at USD 474.1 billion in 2021 and is poised to grow at a significant CAGR of 12.2% during the forecast period 2022-28. Platelet-rich plasma (PRP) is a therapeutic substance that stimulates healing and the release of biologically active chemicals by platelets in their natural state. Low quantities of platelet-rich plasma, on the other hand, tend to have negligible impact, but excessively high concentrations might have detrimental consequences for the tissue healing process. Even the absence of well-designed clinical studies has made it difficult to evaluate outcomes. As a result, continual R&D efforts are developing as a viable option for examining various bone replacement materials that have the ability to affect the overall results of platelet-rich plasma treatment.
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PRP has been widely used in therapeutic settings in recent years. In the realm of cosmetic surgery, it has acquired a lot of attention. The inherent healing capabilities of platelets are being used by plastic surgeons and dermatologists to improve the look and general health of the skin, which is likely to drive the growth of the current market. Also, due to a shortage of antiviral medicines and the premise that plasma therapy is considered an emergency treatment option, the present COVID-19 pandemic has helped to increase the market. Platelet-rich plasma may be utilized for pain management during COVID-19, which is one of its advantages. This method, which has previously been used to prevent operation, is also successful in giving short-term pain control in patients who are awaiting surgical clearance however do not want to be put off any longer by the side effects of steroids, these factors are anticipated to boost the market growth in the coming years. In addition to this, the use of PRP in orthopedics is likely to rise over time. Acute sports injuries, such as muscular strains, are increasingly being treated using PRP. PRP is becoming more popular, although its real efficacy has yet to be determined.
The global platelet rich plasma (prp) market segmentation:
- By Product Type: Pure Platelet Rich Plasma, Pure Platelet Rich Fibrin, Leukocyte-Platelet Rich Fibrin, Others
- By Application: General Surgery, Neurosurgery, Cardiac Surgery, Orthopedic Surgery, Others
- By End User: Hospitals, Ambulatory Surgical Centers (ASCs), Others
Due to a wide variety of applications and an increase in the number of individuals diagnosed with orthopedic disorders, the North American region is expected to dominate the market. A significant presence of important market players is also a factor that is boosting the growth of the industry.
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There are several industry players working in the platelet rich plasma market, which include Hoffman-La Roche Ltd. (Switzerland), Abbott Laboratories (U.S), Siemens Healthcare Inc. (Germany), Thermo Fischer Scientific, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S), Biocept, Inc (U.S.), Illumina, Inc., (U.S)
AstraZeneca plc, (U.K), Epigenomics AG (Germany), Quest Diagnostics Incorporated (U.S.), Myriad Genetics, Inc.(U.S.
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