North America Platelet Rich Plasma Market

North America Platelet-Rich Plasma Market Size (2023 to 2028)

The size of the Platelet Rich Plasma Market in North America is expected to grow at a CAGR of 13.3% from 2023 to 2028 and be worth USD 118.3 million in 2023 and USD 220.9 million by 2028. In 2022, North America alone accounted for a market share of 46% in the global market.

The growing usage of PRP injections for various purposes across North American countries is one of the major factors driving the North American platelet-rich plasma market growth. For instance, platelet-rich plasma can treat skin rejuvenation in severe cancer cases. In addition, the growing incidence of sport-related disorders and the increasing number of sports injuries in the North American region is expected to propel the PRP market in North America. An estimated 30 million children and teenagers participate in sports in the U.S. every year; out of them, 3.5 million suffer from injuries. These people prefer platelet-rich plasma therapy as it helps in speedy recovery and subsequent participation in sports.

The increasing number of R&D activities around platelet-rich plasma in North America is anticipated to fuel the PRP market growth in this region. The growing focus from researchers to develop various platelet-rich plasma therapies for diseases and the increasing success rate of these drugs are anticipated to result in market growth during the forecast period. The key market players in the North American region are investing significantly in R&D to develop various therapies such as injections, drugs, and others.

The growing preference for regenerative medicine among North American countries is predicted to result in the PRP market growth in the North American region. Owing to the advantages associated with regenerative medicine, such as the fast healing of tissues, the adoption of regenerative medicine is growing aggressively in North American countries such as the United States and Canada. Regenerative medicine is used for various diseases such as type 1 diabetes, cardiovascular tissue repair, cell therapy, skin wounds, and certain cancers, along with platelet-rich plasma therapy, used for healing factors derived from the patient's blood.

Furthermore, increasing support from the North American governments, increasing adoption of minimal invasion surgeries, and increasing adoption of drug development for recent coronavirus diseases are expected to boost the North American platelet-rich plasma market.

On the other hand, factors high cost of platelet-rich plasma therapies, lack of skilled professionals, and side effects associated with using PRP therapies, such as bleeding, infection, nerve injuries, and tissue damage, are anticipated to hinder the PRP market growth in North America.

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

By Product: 

• Pure
• Leukocyte-Rich
• Leukocyte-Rich Fibrin

By Application: 

• Orthopedics
• Cosmetic Surgery
• Ophthalmic Surgery
• Neurosurgery

By Origin: 

• Homologous PRP
• Autologous PRP
• Allogeneic PRP    

By Country: 

• The United States
• Canada
• Rest of North America

Geographically, the North American region accounted for the largest share of the worldwide market in 2022 and is anticipated to hold a promising global market share during the forecast period.

During the forecast period, the U.S. market occupies a major share of the North American market owing to the increasing number of clinical centers in the U.S. The clinical center plays a significant role in developing platelet-rich plasma drugs. In addition, clinical trial in these centers helps manufacture personalized drugs for patients with different diseases. Owing to the growing awareness regarding platelet-rich plasma therapies among the population of the United States and the presence of key market participants, the U.S. PRP market is anticipated to register healthy growth in the coming years. In addition, the growing number of awareness programs to promote the benefits of platelet-rich plasma treatments by healthcare organizations is anticipated to fuel the U.S. market growth. Furthermore, the market participants' growing manufacturing activities of platelet-rich plasma products or drugs are predicted to favor the U.S. market growth.

The Canadian market is another promising region for PRP treatments in the North American market. It is anticipated to hold a substantial share of the North American regional market during the forecast period owing to the growing number of people suffering from alopecia and hair loss problems. In Canada, platelet-rich plasma therapy is primarily used for hair problems. In addition, factors such as increasing pollution, climatic change, overthinking, neuron diseases, and less intake of sufficient vitamins in the body are the reason for hair loss problems in many people. According to the Canadian Dermatology Association, nearly 4 out of 5 men have some amount of hair loss, and 40% of the women are experiencing signs of hair thinning by age 45.

KEY MARKET PLAYERS:

Companies playing a dominant role in the North American platelet-rich plasma market profiled in this report are DR. PRP AMERICA, LLC, Glofinn Oy, Zimmer Biomet, DePuy Synthes, Emcyte Corporation, Terumo BCT, Anthrex Inc, T-Biotechnology and Stryker.