The platelet-rich plasma market is expected to grow over the next five years.
Here are 10 things to know from a recent Transparency Market Research report:
1. The global PRP market was around $160 million in 2013 and expected to grow to $350 million by 2020.
2. The market's compound annual growth rate over the next five years is projected at 11.9 percent.
3. The increasing orthopedic injuries, cosmetic surgeries and growing awareness of PRP are driving market growth. The growing geriatric population is also driving additional PRP forecasts.
4. The largest type of PRP is P-PRP, which holds more than 60 percent of the market share.
5. L-PRF is anticipated to be the fastest-growing segment over the next five years.
6 Orthopedic surgery accounted for more than 30 percent of the global PRP market in 2013, due to sports medicine and orthopedic applications and high efficiency of PRP treatment.
7. The autologous PRP segment is expected to lose market share through 2020 due to an increased emphasis on allogeneic blood-derived PRP products.
8. Allogeneic PRP is expected to have the highest growth rate over the next five years, driven by high concentration of growth factors.
9. North America held more than 50 percent of the market share, but the Asia Pacific market is estimated to grow quickly through 2020.
10. The factors driving Asia-Pacific's growth include medical tourism, wide presence of local players, high geriatric population and growing awareness of PRP.