Asia Pacific Platelet Rich Plasma Market to be Valued at US$110.0 mn by 2023
Transparency Market Research has published a new report on the Asia Pacific platelet rich plasma market. As per the report, the Asia Pacific platelet rich plasma market is predicted to expand at a 15.40% CAGR from 2015 to 2023. The report is titled ‘Platelet Rich Plasma Market – Asia Pacific Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2023.’ It estimates the Asia Pacific market to progress from US$30.0 mn in 2014 to US$110.0 mn by 2023. Factors such as the rising occurrence of orthopedic disorders and advancements in platelet rich plasma devices are expected to propel the Asia Pacific platelet rich plasma market in the years to come.
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Platelet rich plasma (PRP) is the donor’s plasma or patient’s own blood plasma used to repair bones and soft tissues or to stimulate regeneration of soft tissues. Platelet rich plasma comprises four to eight platelet concentration as compared to individual blood plasma. Platelets contain hundreds of proteins such as platelet-derived growth factor, platelet-derived epidermal growth factor, transforming growth factor, vascular endothelial growth factor, epidermal growth factor, insulin-like growth factor-1, and others that are essential in healing injuries. The rising prevalence of sports injuries and the increasing application of platelet rich plasma in cosmetic surgeries and plastic surgeries are predicted to propel the Asia Pacific platelet rich plasma market in the near future.
Advancements in PRF and PRP research, the widespread use of PRP, and the growing medical tourism are some of the other factors expected to benefit the Asia Pacific platelet rich plasma market. The Asia Pacific platelet rich plasma market is segmented on the basis of origin, type, country, and application. By type, the Asia Pacific platelet rich plasma market is segmented into platelet rich fibrin, pure PRP, and leucocytes. Currently, the pure PRP segment dominates the Asia Pacific platelet rich plasma market owing to less contamination, low cost, and high concentration of platelets. By origin, the Asia Pacific platelet rich plasma market is divided into autologous PRP, homologous PRP, and allogeneic PRP. At present, the Asia Pacific platelet rich plasma market is dominated by the autologous PRP segment owing to low cost and minimal risk factors.
By country, the Asia Pacific platelet rich plasma market is divided into China, India, Australia, Philippines, Thailand, Singapore, Malaysia, and Taiwan, Hong Kong, and South Korea. Currently, the Asia Pacific platelet rich plasma market is led by China due to increasing investments in PRP research activities.
Some of the leading players operating in the Asia Pacific platelet rich plasma market are Harvest Technology, Stryker Corporation, DePuy Synthes, Cesca Therapeutics, Inc., Rmedica Co. Ltd., Arthrex, Inc., Zimmer Biomet, AdiStem Ltd., and Exactech, Inc. As platelet rich plasma can be used for many new applications, the Asia Pacific platelet rich plasma market is expected to witness new growth opportunities in the years to come.
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