According to a forecast published by Fact.MR, the global platelet-rich plasma market will be worth $391 million by 2022. This projected growth is being fueled by many factors including the growing body of evidence surrounding the efficacy of platelet-rich plasma therapies and positive patient outcomes. There are a growing number of healthcare applications for PRP such as orthopedic surgeries, sports injury treatment, aesthetic procedures and in the treatment of neurological diseases. Platelet-rich plasma therapies all stem from the process of using the patient’s blood to create a platelet-rich gel that contains growth factors to aid in the rapid healing and tissue regeneration process. New uses for PRP including the treatment of male and female sexual dysfunction conditions and in various aesthetic procedures are also fueling global demand and increasing the market value of this regenerative medicine sector.
FUTURE OF PRP
The global acceptance of PRP therapy is due in part to the fact that there are virtually no side effects. It also has such a dynamic range of applications such as cosmetic surgery, orthopedics, and in pain management. Orthopedics make up the largest share of the PRP market, as it is used in the treatment of various orthopedic disorders, such as knee osteoarthritis, achilles tendinopathy, and rotator cuff tears. Aesthetic procedures take up the second most significant share of the PRP market, being used in nonsurgical facelifts and as a therapy for hair restoration.
KEY PRP COMPANIES
Some of the key product/technology companies in the platelet-rich plasma market include Harvest Technologies Corporation, Biomet Inc., Arthrex Inc., Arteriocyte Medical Systems, Dr. PRP America LLC, EmCyte Corporation, Regen Lab, Exactech Inc., and Cesca Therapeutics Inc.