Platelet Rich Plasma Market : Asia Pacific to Show Robust Growth between 2014 and 2020
In a recent report published by Transparency Market Research (TMR), a competitive study analyzing the global platelet rich plasma market is offered along with a market study irreplaceable for market players, stakeholders, and consultants of this industry.According to the study, the global platelet rich plasma market stood at US$ 0.16 billion in 2013. The market is estimated to expand at a CAGR of 11.9% during the period of 2014-2020 to reach US$ 0.35 billion by the end of the forecast period.The research report titled “Platelet Rich Plasma Market – Global Industry Analysis, Size, Share, Growth, Trends & Forecast 2014 – 2020” states that the rising awareness pertaining to platelet rich plasma (PRP) products and devices in developing economies is fueling the growth of the global platelets rich plasma market.
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Further, the growing number of surgeries on the account of the rising prevalence of orthopedic diseases and sports injuries coupled with increasing preference for cosmetic surgeries is expected to stimulate the development of the platelet rich plasma market across the globe. Also, the technological development and quickened regulatory process for new equipment and devices is adding significantly to the growth of the global platelet rich plasma industry.Contrarily, some factors such as the high cost of platelet rich plasma products and devices and the threat of therapy failure and transfer of disease (in specific cases) are hampering the growth of the platelet rich plasma market, globally. However, innovation in the field of medical devices and new application areas of platelet rich plasma technology is expected to offer growth prospects for the participants of this market.
The P-PRP market segment accounted for the biggest market share of 60% in the global platelet rich plasma industry in 2013. However, the L-PRF market segment is projected to register the fastest growth during the forecast period.By origin, the autologus market held the largest share of the global platelet rich plasma industry in the year 2013. However, owing to the rising prominence of allogenic blood derived platelet rich plasma products, this market segment is expected to lose ground in the forecast period. The allogenic market is likely to grow at the highest growth rate throughout the forecast period.
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The orthopedic surgery market occupied over 30% of the platelet rich plasma market by application in 2013 and was the market leader. The cost-effectiveness of platelet rich plasma technologies and its various applications in cosmetic surgeries drove the orthopedic surgery market.The Platelet rich plasma market in North America dominated the global market, holding over 50% of the overall market in 2013. However, the market in Asia Pacific is likely to show robust growth, emerging as the fastest developing platelet rich plasma market during the forecast period.Dr. PRP America LLC, AdiStem Ltd., Exactech, Inc., and Regen Lab SA are some of the major players operating in the global platelet rich plasma industry.
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