APAC Platelet Rich Plasma Market

APAC Platelet-Rich Plasma Market Size (2023 to 2028)

The size of the Asia-Pacific platelet-rich plasma market is estimated to be USD 176.03 million by 2028 and USD 84.09 million in 2023, registering a CAGR of 15.92% during the forecast period.

The growing prevalence of orthopedic, neurological, and cardiovascular diseases, increasing incidence of sports injuries, and rising number of people suffering from obesity in Asia have proved critical in maintaining the high demand for platelet-rich plasma and resulting in the growth of the APAC PRP market. In addition, the advent of improved equipment for greater platelet-rich plasma preparation efficiency is further estimated to accelerate the APAC platelet-rich plasma market. Furthermore, the treatment is safe and cost-efficient, where the platelets are injected into and around the injured site to speed up the healing process.

On the other hand, procedures of platelet-rich plasma do not cause infection or allergy because the patient's blood is also utilized. The growing number of people suffering from orthopedic diseases is expected to promote the demand for platelet-rich plasma treatment, which is expected to fuel the market’s growth rate. Furthermore, the market is anticipated to benefit significantly from the increased awareness of platelet-rich plasma treatments and technologies in emerging nations such as India and China. A small amount of blood from a human is used in platelet-rich plasma treatment, which uses existing technologies to cure one's illness. In the years ahead, the APAC platelet-rich plasma market is expected to be driven by growing adoption and usage of technological developments in various end-use sectors, such as cosmetic surgeries.

However, the lack of awareness of the available and the advancements in the rural areas in developing countries such as India limits the platelet-rich plasma market growth in the Asia-Pacific. Furthermore, side effects, tissue or nerve damage, and allergies in rare conditions impede the market growth. Moreover, as these therapies have been more commercialized, their prices have risen. Also, weak reimbursement policies are incredibly time-consuming and challenging and have complex processes for getting approvals. This acts as a significant obstacle, stifling market growth. In addition, the possibility of treatment failure also limits the market growth to some extent.

This research report on the APAC platelet-rich plasma market has been segmented and sub-segmented into the following categories:

By Application: 

• Orthopedics
• Cosmetic Surgery
• Ophthalmic Surgery
• Neurosurgery

By Product: 

• Pure
• Leukocyte-Rich
• Leukocyte-Rich Fibrin

By Origin: 

• Homologous PRP
• Autologous PRP
• Allogeneic PRP    

By Country: 

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of APAC

During the forecast period, the Asia-Pacific region is expected to play a prominent role in the global platelet-rich plasma market. With the growing awareness of PRP therapy, and there is enormous potential for the platelet-rich plasma market to thrive in the Asia-Pacific region over the next decade. Therefore, the APAC platelet-rich plasma market is anticipated to account for a major global market share during the forecast period. Furthermore, the advent of new application areas for platelet-rich plasma technologies will provide the industry with additional paths to investigate. In addition, developing technologically improved equipment will benefit the top firms in the Asia Pacific platelet-rich plasma market.

The growing prevalence of orthopedic illnesses, neurological disorders, cardiovascular diseases, sports injuries, and obesity in Asia has proved critical in maintaining the high demand for platelet-rich plasma. In addition, the advent of improved equipment for greater platelet prosperous plasma preparation efficiency has also boosted the market. The main drivers of market growth are the increased awareness of platelet-rich plasma technology in different treatments, rising healthcare spending, and research and development efforts.

The Indian PRP market is anticipated to account for a substantial share of the APAC market in 2021. The growing elderly population in India, the availability of qualified doctors, and more awareness will drive up demand for platelet-rich plasma. Therefore, this aspect is anticipated to boost growth in the worldwide platelet-rich plasma market over the forecast period.

Platelet-rich plasma blends modern-day technology with the body's natural capacity to repair itself. As a result, several applications, such as ophthalmology, neurosurgery, and cosmetic surgery, are expanding their platelet-rich plasma, which is expected to drive the Asia-Pacific platelet-rich plasma market.

KEY MARKET PLAYERS:

The leading companies in the Asia-Pacific platelet-rich plasma market are DR. PRP AMERICA, LLC, Glofinn Oy, Zimmer Biomet, DePuy Synthes, Emcyte Corporation, Terumo BCT, Anthrex Inc, T-Biotechnology, and Stryker.