U.S. Platelet Rich Plasma Market Size, Share & Trends Analysis Report

U.S. Platelet Rich Plasma Market Size, Share & Trends Analysis Report By Type (Pure PRP, Leukocyte Rich PRP), By Application (Sports Medicine, Orthopedics), By End Use, By Region, And Segment Forecasts, 2020 - 2027.

Report Overview

The U.S. platelet rich plasma market size was valued at USD 167.0 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 10.3% from 2020 to 2027. Platelet-rich plasma (PRP) based therapy has shown to be an effective and safe treatment option in various medical applications. Accelerated healing, enhanced wound closure, reduced swelling and inflammation, stabilization of bone or soft tissue, and reduction in bruising and bleeding are among the few advantages associated with it. These benefits expand the application of platelet rich plasma in a myriad of chronic ailments, which subsequently boosts the revenue generation in the market. Platelets play a critical role in the wound healing process due to its hemostatic function and presence of growth factors and cytokines. Research studies have reported that platelet rich plasma is a safe and affordable regenerative therapy for cutaneous wound healing, thus improving the patient’s care.

While increased acceptability of PRP in dental and oral surgical procedures, such as managing bisphosphonate-related osteonecrosis of the jaw to enhance wound healing, have also yielded promising results. In the past few years, platelet rich plasma injections have gained significant traction among popular sports professionals, including Jermaine Defoe, Rafael Nadal, Alex Rodriguez, Tiger Woods, and many more. Furthermore, the World Anti-Doping Association (WADA) removed the PRP from the prohibited substances list in 2011. Wide application of these products by high profile athletes in the U.S. for early osteoarthritis (OA) and chronic injuries significantly contribute to market growth.

PRP and stem cell-based biological interventions have been proven to accelerate recovery while maintaining the performance of athletes. Moreover, research studies have demonstrated that PRP can be used successfully in combination with other treatments to ensure rapid healing. The effects of PRP therapy combined with a 70% glycolic acid effectively manage acne scars. Similarly, PRP along with hyaluronic acid significantly improves skin general appearance, firmness, and texture. 

High costs associated with platelet rich plasma products make it difficult for clinicians to deploy this therapy on a large scale, which impedes market growth to some extent. Conversely, insurance firms cover few PRP therapy costs, including diagnostic tests, consultation fees, and other medical expenses. The CMS covers autologous PRP only for patients with chronic non-healing diabetic, venous wounds, or when enrolled in a clinical research study, thus reducing the amount of out-of-pocket charges.

Type Insights

Pure platelet rich plasma dominated the market with a revenue share of 52.4% in 2019. Certain benefits associated with this PRP type, including tissue generation & repair, rapid healing, and enhancement in overall function, have raised the demand for pure PRP across different therapeutic applications. In addition, effective elimination of adverse effects, such as an allergic or immune reaction, with this therapeutic approach has considerably benefitted the segment growth.

Pure platelet rich plasma is considered to be more suitable for application for bone regeneration than leukocyte platelet rich plasma. The combined use of this therapy with β-tricalcium phosphate is reflected to be an effective and safe alternative for the treatment of bone defects. Key players are also providing advanced products in this segment. Pure Spin PRP, a U.S.-based firm, is one such player offering an advanced PRP system for centrifugation with maximum platelet recovery.

Leukocyte-rich PRP (LR-PRP) is anticipated to grow at a lucrative pace during the forecast period. LR-PRP promotes bone regeneration by improved viability, proliferation, migration of cells in vitro, ontogenesis, and angiogenesis in vitro & in vivo, however, these products produce harmful effects as compared to pure type. Conversely, these are powerful tools for soft tissue reconstruction with a reduction in operating time, postoperative pain, and risk of complications in wound healing.

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Post time: Aug-18-2022