The global platelet rich plasma (PRP) market accounted for USD 0.724 billion in 2023 and is expected to reach at USD 3.41 billion by 2034 with a CAGR of 15.13% during the forecast period 2024-2034. Surge in sports-related injuries, increase in cosmetic surgery procedures, expanding research utilization of platelet-rich plasma (PRP), rise in engagement in sports activities, higher incidence of orthopedic & musculoskeletal ailments, growing use of PRP in medical interventions, and surge in the introduction of advanced platelet-rich plasma (PRP) treatments are some of the key factors boosting the market growth.
Surge in the introduction of advanced platelet-rich plasma (PRP) treatments is predicted to boost the market growth during the forecast period. Platelet-rich plasma (PRP) is a protein concentrate derived from whole blood, where platelet-rich plasma is separated through centrifugation to eliminate red blood cells. With higher levels of growth factors compared to whole blood, PRP has been applied across various medical fields, notably plastic surgery, dentistry, orthopedics, and dermatology, to stimulate rapid healing responses. For instance, in December 2023, Hairline International Hair and Skin Clinic, a top hair clinic, introduces Sonicated PRP, an innovative hair regeneration therapy, which utilizes groundbreaking research on platelet-rich plasma (PRP). This state-of-the-art treatment aims to transform the activation and regeneration of hair follicles.
By type, pure platelet rich plasma was the highest revenue-grossing segment in the global platelet rich plasma (PRP) market in 2023 owing to the extensive utilization in the healing, tissue repair, & regeneration processes, and increasing introduction of new products. PRP treatments carry minimal risk and adverse effects related to allergic or immune responses. For instance, in September 2022, Suneva Medical, Inc. has introduced a new 30ml version of its Amplifine Platelet Rich Plasma (PRP) gel tubes, offering patients and practices a larger volume of PRP for more effective treatment across different areas of concern. Suneva Medical, Inc. is an innovative medical technology firm that employs regenerative products to elevate the quality of patient care. The 30 mL PRP tubes received 510(k) certification from the U.S. Food and Drug Administration (FDA) earlier this year. Additionally, leucocyte-rich platelet rich plasma is predicted to grow at the fastest CAGR during the forecast period owing to its growing application spans general surgery, orthopedics, and sports-related injuries. Research indicates that LR-PRP is beneficial in the non-operative treatment of knee osteoarthritis and its use extends to bone regeneration.
By application, orthopedics was the highest revenue-grossing segment in the global platelet rich plasma (PRP) market in 2023 owing to the rising incidence of orthopedic conditions, increase in the number of procedures for soft tissue and bone reconstruction, and growing introduction of new therapeutic approaches. For instance, in June 2023, Isto Biologics, a prominent company specializing in orthobiologic regeneration technologies and cell-based therapies aimed at accelerating patient healing, unveiled Precise, an innovative technology designed to produce a PRP product with precise cellular fractions after concentration. Additionally, dermatology is predicted to grow at the fastest CAGR during the forecast period owing to the increasing popularity of cosmetic surgeries coincides with a rising incidence of ulcers, leading to an expanded application of PRP in ulcer management. The demand for PRP-based micro-needling in cosmetic procedures has surged, driving market growth. Furthermore, PRP treatment offers benefits in chronic ulcer cases by reducing ulcer size and promoting complete wound healing.
By end-user, hospitals was the highest revenue-grossing segment in the global platelet rich plasma (PRP) market in 2023 owing to a swift growth in PRP-based treatments within hospital settings, rise in knee osteoarthritis cases, growing demand for non-surgical treatment options, and surge in occurrences of hair loss. Additionally, clinics is predicted to grow at the fastest CAGR during the forecast period owing to the rising incidence of chronic illnesses, increasing introduction of new therapies, and surge in approvals from regulatory bodies. For instance, in May 2023, Dr. John Kahen, the creator of Beverly Hills Med Spa, has been granted a U.S. patent for Smart PRP therapy. Smart PRP is primarily utilized for hair restoration and also finds applications in skin rejuvenation, scar treatment, pigmentation correction, and improving skin texture.
North America region is anticipated for the highest revenue share during the forecast period owing to a significant presence of manufacturing facilities focusing on developing PRP-based treatments, increasing regulatory approvals, and rise in collaborations among industry stakeholders. For instance, in November 2022, Tri-Cities Infusion & Wellness Clinic, PLLC, located in Kennewick, Washington, has entered into an agreement to transfer its assets to Irwin Naturals Inc. The clinic offers ketamine infusions for various mental health conditions and provides regenerative treatments such as platelet-rich plasma (PRP) injections, cosmetic services, and intravenous (IV) nutritional therapies. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the increase in cosmetic surgical procedures, expanding attention from research and academic institutions, rising cases of knee osteoarthritis, growing government backing for healthcare advancements, and surge in the uptake of innovative therapies. For instance, in December 2022, Visakha Institute of Medical Sciences is the inaugural government hospital in Andhra Pradesh, India to provide PRP therapy.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Surge in the introduction of advanced platelet-rich plasma (PRP) treatments is predicted to boost the market growth during the forecast period. Platelet-rich plasma (PRP) is a protein concentrate derived from whole blood, where platelet-rich plasma is separated through centrifugation to eliminate red blood cells. With higher levels of growth factors compared to whole blood, PRP has been applied across various medical fields, notably plastic surgery, dentistry, orthopedics, and dermatology, to stimulate rapid healing responses. For instance, in December 2023, Hairline International Hair and Skin Clinic, a top hair clinic, introduces Sonicated PRP, an innovative hair regeneration therapy, which utilizes groundbreaking research on platelet-rich plasma (PRP). This state-of-the-art treatment aims to transform the activation and regeneration of hair follicles.
By type, pure platelet rich plasma was the highest revenue-grossing segment in the global platelet rich plasma (PRP) market in 2023 owing to the extensive utilization in the healing, tissue repair, & regeneration processes, and increasing introduction of new products. PRP treatments carry minimal risk and adverse effects related to allergic or immune responses. For instance, in September 2022, Suneva Medical, Inc. has introduced a new 30ml version of its Amplifine Platelet Rich Plasma (PRP) gel tubes, offering patients and practices a larger volume of PRP for more effective treatment across different areas of concern. Suneva Medical, Inc. is an innovative medical technology firm that employs regenerative products to elevate the quality of patient care. The 30 mL PRP tubes received 510(k) certification from the U.S. Food and Drug Administration (FDA) earlier this year. Additionally, leucocyte-rich platelet rich plasma is predicted to grow at the fastest CAGR during the forecast period owing to its growing application spans general surgery, orthopedics, and sports-related injuries. Research indicates that LR-PRP is beneficial in the non-operative treatment of knee osteoarthritis and its use extends to bone regeneration.
By application, orthopedics was the highest revenue-grossing segment in the global platelet rich plasma (PRP) market in 2023 owing to the rising incidence of orthopedic conditions, increase in the number of procedures for soft tissue and bone reconstruction, and growing introduction of new therapeutic approaches. For instance, in June 2023, Isto Biologics, a prominent company specializing in orthobiologic regeneration technologies and cell-based therapies aimed at accelerating patient healing, unveiled Precise, an innovative technology designed to produce a PRP product with precise cellular fractions after concentration. Additionally, dermatology is predicted to grow at the fastest CAGR during the forecast period owing to the increasing popularity of cosmetic surgeries coincides with a rising incidence of ulcers, leading to an expanded application of PRP in ulcer management. The demand for PRP-based micro-needling in cosmetic procedures has surged, driving market growth. Furthermore, PRP treatment offers benefits in chronic ulcer cases by reducing ulcer size and promoting complete wound healing.
By end-user, hospitals was the highest revenue-grossing segment in the global platelet rich plasma (PRP) market in 2023 owing to a swift growth in PRP-based treatments within hospital settings, rise in knee osteoarthritis cases, growing demand for non-surgical treatment options, and surge in occurrences of hair loss. Additionally, clinics is predicted to grow at the fastest CAGR during the forecast period owing to the rising incidence of chronic illnesses, increasing introduction of new therapies, and surge in approvals from regulatory bodies. For instance, in May 2023, Dr. John Kahen, the creator of Beverly Hills Med Spa, has been granted a U.S. patent for Smart PRP therapy. Smart PRP is primarily utilized for hair restoration and also finds applications in skin rejuvenation, scar treatment, pigmentation correction, and improving skin texture.
North America region is anticipated for the highest revenue share during the forecast period owing to a significant presence of manufacturing facilities focusing on developing PRP-based treatments, increasing regulatory approvals, and rise in collaborations among industry stakeholders. For instance, in November 2022, Tri-Cities Infusion & Wellness Clinic, PLLC, located in Kennewick, Washington, has entered into an agreement to transfer its assets to Irwin Naturals Inc. The clinic offers ketamine infusions for various mental health conditions and provides regenerative treatments such as platelet-rich plasma (PRP) injections, cosmetic services, and intravenous (IV) nutritional therapies. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the increase in cosmetic surgical procedures, expanding attention from research and academic institutions, rising cases of knee osteoarthritis, growing government backing for healthcare advancements, and surge in the uptake of innovative therapies. For instance, in December 2022, Visakha Institute of Medical Sciences is the inaugural government hospital in Andhra Pradesh, India to provide PRP therapy.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Type, Application, and End-user
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of Top 10+ Major Market Players
Segmentation: Platelet Rich Plasma (PRP) Market Report 2023 - 2034
Platelet Rich Plasma (PRP) Market Analysis & Forecast by Type 2023 - 2034 (Revenue USD Bn)
- Leukocyte Rich Platelet Rich Plasma
- Pure Platelet Rich Plasma
- Others
Platelet Rich Plasma (PRP) Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Dermatology
- Ulcer Healing
- Pyoderma Gangrenosum Ulcer
- Traumatic Ulcer
- Vasculitic Ulcer
- Venous Ulcer
- Diabetic Ulcer
- Trophic Ulcer
- Others
- Others
- Ophthalmic Surgery
- Cosmetic Surgery
- Sports Medicine
- General Surgery
- Neurosurgery
- Orthopedics
- Others
Platelet Rich Plasma (PRP) Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Clinics
- Hospitals
- Others
Platelet Rich Plasma (PRP) Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Platelet Rich Plasma (PRP) Market: Type Estimates & Trend Analysis
8. Platelet Rich Plasma (PRP) Market: Application Estimates & Trend Analysis
9. Platelet Rich Plasma (PRP) Market: End-user Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Platelet Rich Plasma (PRP) Market
12. Europe Global Platelet Rich Plasma (PRP) Market
13. Asia Pacific Global Platelet Rich Plasma (PRP) Market
14. Latin America Global Platelet Rich Plasma (PRP) Market
15. MEA Global Platelet Rich Plasma (PRP) Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Juventix Regenerative Medical LLC.
- Johnson & Johnson Services Inc.
- Celling Biosciences Inc.
- Terumo Corporation
- EmCyte Corporation
- Dr PRP USA LLC
- Apex Biologix
- Zimmer Biomet
- Arthrex Inc.
- Stryker
