Platelet-rich plasma or PRP is a concentration of human platelets used to accelerate the wound healing process and reduce inflammation. It is prepared by withdrawing and concentrating a patient’s own blood. It contains a higher platelet concentration than normal blood and releases growth factors that stimulate tissue repair and healing of muscles, tendons, and ligaments. PRP is being widely used in cosmetic procedures such as hair loss treatment, wound healing, orthopedic surgeries, and sports medicine. PRP therapy is minimally invasive and allows rapid recovery with less pain and fewer side effects than surgical processes.
The global Europe platelet rich plasma market is estimated to be valued at US$ 127.19 Million in 2024 and is expected to exhibit a CAGR of 5.3% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growing demand for minimally invasive surgeries is expected to drive the Europe platelet rich plasma market growth over the forecast period. PRP injections help reduce recovery time, pain, and risk of infection associated with surgical procedures. PRP therapy offers an affordable alternative and has emerged as a promising treatment option for major injuries and chronic musculoskeletal conditions like tennis elbow, Achilles tendinopathy, and rotator cuff injuries. According to data by the Centers for Disease Control and Prevention, in 2020, about 54.9 million inpatient surgeries and 95.7 million outpatient surgeries were performed in the U.S. Rising number of these surgeries is propelling the need for effective and minimally invasive treatment options like PRP therapy. Growing awareness about PRP’s therapeutic benefits in wound healing, tissue regeneration and pain relief is also fueling its demand.
Segment Analysis
The Europe platelet rich plasma market is segmented based on origin type into autologous platelet rich plasma and allogenic platelet rich plasma. The autologous platelet rich plasma segment dominates the market and accounts for around 85% share due to the low risk of transfusion-transmitted diseases and infections.
PEST Analysis
Political: Governments across Europe are supporting the platelet rich plasma treatment through favorable regulations and funding for research activities to evaluate the efficacy of PRP.
Economic: Rising healthcare spending coupled with growing elderly population suffering from orthopedic diseases is fueling the demand for platelet rich plasma treatment in Europe.
Social: Increasing awareness about the benefits of PRP therapy through social media and online health portals is positively impacting the market growth.
Technological: Developments in the production of platelet separation systems and advancement in PRP preparation kits is helping lower the cost of treatment and boosting adoption of PRP therapy.
Key Takeaways
The global Europe platelet rich plasma market is estimated to be valued at US$ 127.19 Million in 2024 and is expected to exhibit a CAGR of 5.3% over the forecast period 2024 to 2031.
Regional analysis shows that Germany dominates the market due to presence of major players and hospitals carrying out large number of PRP procedures annually.
Key players operating in the Europe platelet rich plasma market are Husqvarna Group, Stiga, Stihl, Robert Bosch, Oregon Tools, Active, Al-Ko Kober, Einhell Germany, Cobra, and Emak Group. Key players like Husqvarna Group, Stihl and Stiga collectively account for over 35% of market share.