Platelet Rich Plasma Market

Europe Platelet Rich Plasma Market Is Estimated To Witness High Growth Owing To Rising Orthopedic Procedures And Increasing Sports Injuries

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The 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 or PRP is an autologous blood product containing a higher concentration of platelets compared to whole blood. It is prepared by centrifuging whole blood to obtain the platelet concentrate. PRP is injected into tissues to aid healing and regeneration. It is used in various applications such as orthopedic surgery, musculoskeletal injuries, dermatology, cosmetic surgery and others.

Market Dynamics:
Rising number of orthopedic procedures such as knee and hip replacement surgeries as well as sports injuries are majorly driving the Europe platelet rich plasma market. According to a report by Eurostat, around 1.4 million hip replacement surgeries and 750,000 knee replacement surgeries were performed in Europe in 2017. Also, as per Health Europa, over 3.8 million sport-related injuries occur annually in Europe. Platelet rich plasma helps in faster healing of injured sports players, thus propelling market growth. Furthermore, increasing awareness about platelet rich plasma procedures and availability of clinical data demonstrating its benefits are further fueling the market growth in the region.

SWOT Analysis

Strength: Platelet rich plasma has advantages like pain relief, faster healing and enhanced wound repair without surgery or drugs. Large number of applications in various therapeutic areas like orthopedic, sports medicine, aesthetics etc. Growing demand for minimally invasive procedures drives the market growth.

Weakness: High cost of PRP procedures limit its usage. Stringent regulatory frameworks. Lack of clinical studies further limiting its applications. Variations exist in techniques used to collect and concentration of platelets.

Opportunity: Increased research funding from both private and public sectors to explore full potential. Growing geriatric population prone to chronic diseases support market expansion. Adoption in new application areas like hair regrowth, skin rejuvenation offers opportunities.

Threats: Availability of alternative treatment options act as competing technologies. Reimbursement issues pertaining to high cost therapies. Lack of standard protocols and guidelines.

Key Takeaways

Europe Platelet Rich Plasma Market Size is expected to witness high growth, exhibiting CAGR of 15.6% over the forecast period, due to increasing prevalence of musculoskeletal disorders and sports injuries.

Regional analysis

Europe dominates the Platelet Rich Plasma market owing to supportive regulatory scenario and higher healthcare spending. Germany holds the largest share due to skilled medical professionals and advanced healthcare infrastructure. UK and France are other major markets in the region.

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, Arthrex, Inc., Stryker, GLOFINN, Medira Ltd, Regen Lab SA, Estar Technologies Ltd.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it