PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1462929
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1462929
Platelet Concentration Systems Market size was valued at USD 554.5 Million in 2023, expanding at a CAGR of 10.5% from 2024 to 2032.
Platelet-rich plasma (PRP) offers a non-surgical remedy for various medical areas including orthopedics, sports medicine, dentistry, ear, nose, and throat (ENT), neurosurgery, ophthalmology, urology, wound healing, as well as cosmetic, cardiothoracic, and maxillofacial surgery. Derived from a patient's own blood, PRP is a biologic enriched with platelets and growth factors, commonly utilized to accelerate the healing process of injured tendons, ligaments, muscles, and joints. In addition to platelets, PRP preparations may also contain other cellular components such as white blood cells (WBCs) and peripheral stem cells, which contribute significantly to the biological healing mechanism by providing concentrated levels of these essential elements. Consequently, PRP therapy holds promise in optimizing the healing conditions for both bone and soft tissue injuries.
Platelet Concentration Systems Market- Market Dynamics
Increasing incidence of musculoskeletal conditions to propel market demand
Musculoskeletal conditions stand as a leading cause of disability globally, affecting over 1.7 billion individuals, according to the World Health Organization (WHO). The prevalence of such conditions is steadily increasing, largely attributed to aging populations and escalating obesity rates resulting from sedentary lifestyles and poor dietary habits. Similarly, traumatic brain injuries (TBIs) are on the rise, with the Centers for Disease Control and Prevention (CDC) estimating over 2.8 million TBI-related emergency department visits, hospitalizations, and fatalities annually in the United States alone. Platelet-rich plasma therapy has demonstrated efficacy in expediting the healing process of musculoskeletal injuries and addressing neurological conditions such as mild TBI, facilitating tissue regeneration and offering potential relief to affected individuals.
Platelet Concentration Systems Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 10.5% over the forecast period (2024-2032)
Based on technology segmentation, single spin technology was predicted to show maximum market share in the year 2023
Based on End Use segmentation, hospital was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Platelet Concentration Systems Market is segmented on the basis of Technology, Application, End Use, and Region.
The market is divided into three categories based on technology: apheresis technology, single spin technology, and double spin technology. Among these, single spin technology is anticipated to dominate the market throughout the forecast period. Single spin technology stands out as the sole technique commencing with a single plasma cell, aiming to address the intricate challenges prevalent in modern healthcare systems. These factors are projected to contribute significantly to the growth of this segment.
The market is divided into four categories based on End use: hospitals, orthopedic clinics, sports injury centers, and ambulatory surgical centers. Among these, the hospital segment emerged as the largest segment in 2023 and is anticipated to maintain this position throughout the forecast period. The segment's growth can be attributed to the widespread presence of hospitals equipped with platelet concentration systems worldwide. Particularly in developing nations, hospitals are increasingly focusing on platelet-rich plasma-based treatments for aesthetic applications. These treatments are cost-effective, non-surgical, and a considerable number of hospitals offer them to patients.
Platelet Concentration Systems Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
In the Platelet Concentration Systems Market, companies utilize strategic partnerships and collaborations as fundamental approaches to foster growth and innovation. These partnerships frequently involve collaborations with research institutions, healthcare organizations, and technology firms to leverage complementary expertise, resources, and technologies. Partnering with research institutions and universities grants companies access to cutting-edge research and development capabilities, empowering them to enhance their product offerings and maintain a competitive edge. Collaborations with healthcare organizations facilitate the validation and clinical integration of platelet concentration systems, ensuring their effectiveness and safety in real-world healthcare settings. Moreover, partnerships with technology companies enable the integration of advanced technologies such as automation, data analytics, and connectivity into platelet concentration systems, thereby improving their performance and capabilities. Through strategic partnerships, companies in the platelet concentration systems market can expedite product development, broaden their market presence, and foster innovation to meet the evolving needs of healthcare providers and patients.
In 2021, Royal Biologics, an orthobiologics company specializing in autologous and live cellular solutions, announced the U.S. FDA 510K approval of its Maxx-PRP concentration system. Maxx-PRP is a patented next-generation concentration device designed to concentrate autologous whole blood for the safe and rapid preparation of platelet-rich plasma at the point of care, enhancing handling characteristics when mixed with autograft and/or allograft.
GLOBAL PLATELET CONCENTRATION SYSTEMS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Anthrax Inc.
Stryker Corporation
Johnson & Johnson's
Zimmer Biomet Holdings Inc.
Terumo Corporation
Arteriocyte Medical Systems, Inc.
Exactech Inc.
Harvest Technologies Corp.
Nuo Therapeutics, Inc.
Haemonetics Corporation
Fresenius SE & Co. KGaA
Macopharma
Others