The global 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 therapy used for tissue healing and rehabilitation. It is obtained from the patient's own blood through a simple centrifugation process. PRP contains a higher concentration of growth factors and cytokines that aid in healing and regeneration of injured tissues. PRP acts as a biological catalyst to stimulate faster healing. It is widely used in various therapeutic areas such as orthopedic surgeries, cosmetic surgeries, dermatology, andrology, and general surgery. The advantages of PRP include reduced pain and infection risk, improved wound healing, stimulated cartilage regeneration, reduced inflammation, and accelerated bone healing. The rising prevalence of musculoskeletal disorders and increasing adoption of minimally invasive procedures are fueling the demand for PRP in Europe.
Market key trends:
One of the key trends in the Europe PRP market is the rising popularity of leukocyte-rich PRP formulations. Leucocyte-rich PRP contains a higher concentration of white blood cells which helps boost the healing response. It is found to be more effective for treating osteoarthritis and tendinopathy compared to pure PRP. Another major trend is the growing adoption of autologous fat grafting with PRP therapy for breast reconstruction and augmentation procedures. The synergistic effect of fat grafting and PRP aids regeneration and graft survival. Emergence of technologies allowing for point-of-care preparation of PRP is also fueling the market growth. Companies are focusing on developing easy to use, portable devices that enable quick and aseptic PRP preparation without the need for specialized equipment.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate in the Europe platelet rich plasma market. Establishing manufacturing facilities and distribution channels for platelet rich plasma products requires significant capital investment and regulatory approvals.
Bargaining power of buyers: The bargaining power of buyers is moderate. The availability of alternative therapies limits the bargaining power of individual buyers.
Bargaining power of suppliers: The bargaining power of suppliers is low to moderate due to the availability of alternative suppliers.
Threat of new substitutes: The threat of new substitutes is low as there are limited treatment options that can substitute platelet rich plasma therapy.
Competitive rivalry: High due to the presence of many international and regional players.
Key Takeaways
Europe Platelet Rich Plasma Market Size was valued at US$ 110.4 million in 2023. It is expected to grow at a CAGR of 15.6% during the forecast period due to the rising geriatric population and increasing prevalence of orthopedic diseases.
By region, Europe dominates the global platelet rich plasma market with the largest market share due to rising demand for minimally invasive surgeries and presence of major industry players in the region. The European market for platelet rich plasma is expected to grow the fastest during the forecast period.
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. Vivostat A/S dominates the platelet rich plasma market in Europe due to its robust product portfolio and global presence.
Read More- https://www.newsstatix.com/europe-platelet-rich-plasma-market-share-size-and-growth-values/
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