Global Platelet Rich Plasma Market: Overview
Plasma refers to the liquid portion of one’s blood, in which vitamins, white and red blood cells, and salts are found. Most of the content of plasma comprises water. The plasma turns yellow in color, once red blood cells are removed from it. The global platelet rich plasma market is driven by the growing incidences of bone-related disorders and arthritis. According to the US Arthritis Foundation, arthritis is one of the leading reasons for adult disability in the nation.
The global platelet rich plasma market has been segmented on the basis of four different parameters. These parameters are type, application, origin, and region.
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Global Platelet Rich Plasma Market: Notable Developments
The global platelet rich plasma market has gone through a few developments in the last few years. Developments such as this show what are going to make an impact one the growth of the global platelet rich plasma market. One of such developments is mentioned below:
In October 2017, Stryker Corporation announced about its acquisition of Vexim The latter is a France-based company. The French company is a manufacturer of medical devices and specializes in minimally invasive treatment. With this acquisition, that Stryker Corporation will be able to expand its geographical reach.
Some of the key market players of the global platelet rich plasma market are
- Harvest Technologies Corporation
- Cesca Therapeutics, Inc.
- Stryker Corporation
- EmCyte Corporation
- Zimmer Biomet
- Nuo Therapeutics, Inc.
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Global Platelet Rich Plasma Market: Growth Drivers
High Occurrences of Arthritis Spells Growth for the Market
Platelet-rich plasma mixes ability of the body to heal itself with the modern technology. It is used in various medical applications comprising cosmetic surgery, ophthalmology, neurosurgery, and orthopedics. Platelet rich plasma therapy comprises a small sample of an individual’s own blood with modern technology to cure one’s self. The global platelet rich plasma market is likely to gather momentum from it increased use in various end use industries like cosmetic surgery, ophthalmology, neurosurgery, and orthopedics. The therapy involves placement of an individual’s own blood in a centrifuge to separate the platelets from various other components. The platelet is injected around and into the injury point for facilitating rapid recovery. This process does not cause any allergy and infection in a patient as it is the patient’s own blood.
Rapid growth in various orthopedic conditions is likely to fuel the expansion of the global platelet rich plasma market over the tenure of assessment. According to the findings of National Center for Biotechnology Information, nearly 1.5 Mn people are affected by osteoporotic-related fracture. In addition to that, increased awareness about platelet rich plasma treatment in such cases stimulate growth of the global platelet rich plasma market.
Global Platelet Rich Plasma Market: Regional Outlook
In the global platelet rich plasma market, North America is anticipated to lead the market in terms of revenue. Widening of the scope of application of platelet rich plasma in therapeutics is forecasted to stimulate the expansion of the global platelet rich plasma market. There has been a rise in the number of people affected with various orthopedic disorders, which plays a vital role in the growth of the market over the timeframe of forecast.
A large number of leading players of the platelet rich plasma market have strong presence in the North America, which acts as a growth factor for the market.
The global platelet rich plasma market is segmented as:
- Leucocyte Rich PRP
- Pure Platelet Rich Fibrin
- Leukocyte-Rich PRF
- General Surgery
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