North America dominated the plasma therapy market in 2022. It is further expected to record the highest CAGR in the market during 2022–2030. The market in North America is segmented into the US, Canada, and Mexico. The US holds the largest market share of the global plasma therapy market. Market growth in the country is attributed to the burgeoning adoption of platelet-rich plasma (PRP) in orthopedic and cosmetic surgeries, rising investments in the healthcare sector, dynamics research and development landscape, and USFDA approval for selected PRP therapies.
Rising Cases of Orthopedic Disorders & Muscle Injuries and Increasing Use of PRP in Aesthetic Procedures Drive Plasma Therapy Market Growth
According to statistics published by the World Health Organization (WHO) in 2023, ~528 million people across the world were living with osteoarthritis (OA) in 2019, representing an increase of 113% since 1990. An article published in PubMed Central in December 2020 states that the use of PRP offers potential for tissue repair due to the abundance of growth factors and cytokines in this plasma, which are crucial in initiating and modulating regenerative microenvironments for both soft and hard tissues. PRP therapy can be used in the healing of bone fractures; ligament, muscle, and tendon injuries; peripheral nerve injuries; articular cartilage lesions; and osteoarthritis. Therefore, there is a high demand for plasma therapies in orthopedic and tissue repair procedures.
Moreover, PRP is used in cosmetic surgeries for skin rejuvenation, anti-aging, and other aesthetic procedures. Out of 73 studies evaluated in a review published in PubMed Central in November 2021, 45 studies focused on PRP monotherapy, while 35 studies investigated the effects of PRP in combination with micro needling. As a result, the therapies were well-tolerated and suitable for all phototypes. Positive treatment outcomes were identified for various conditions, including skin rejuvenation, scar revision, alopecia, pigmentary disorders, lichen sclerosus, leprosy-induced peripheral neuropathy, plaque psoriasis, and nail disorders.
Therefore, the use of PRP in cosmetic surgeries contributes to the growth of the plasma therapy market.
Plasma Therapy Market: Segmental Overview
The plasma therapy market is segmented on the basis of type, source, application, and end user. In terms of type, the market is segmented into pure PRP, leukocyte-rich PRP, pure platelet-rich fibrin, and leukocyte-rich fibrin. The Pure-Platelet Rich Fibrin segment held the largest market share in 2022, and it is anticipated to register the highest CAGR during 2022–2030. Rise in funding for health care and increase in use of PRP in hospitals and clinics propels the market. The pure platelet-rich segment is also set to have a healthy growth, owing to increased usage and antimicrobial effects. However, in some cases, LR-PRP can be beneficial to stimulate inflammation in the body to indicate a chronic condition such as tendinopathy. The plasma therapy market, by source, is bifurcated into autologous and allogeneic. The autologous segment dominated the market in 2022, and the allogeneic segment is anticipated to record a higher CAGR during 2022–2030. Autologous PRP injection is a secure and reliable biological technique that is used for the treatment of different musculoskeletal disorders. PRP injection can effectively support the primary treatment of patients with chronic autoimmune inflammatory diseases such as rheumatoid arthritis by suppressing the production of inflammatory cytokines and promoting the growth of synovial fibroblasts. Based on application, the plasma therapy market is segmented into orthopedic conditions, dermatology, dental issues, and others. The dermatology segment held the largest market share in 2022. In terms of end user, the plasma therapy market is categorized as hospitals, research institutes, ambulatory surgical centers (ASCs), and others. The hospital segment held the largest share of the market in 2022 and is anticipated to register the highest CAGR in the market from 2022 to 2030.
Plasma Therapy Market: Competitive Landscape and Key Developments
Major players in the plasma therapy market include BioLife Plasma Services; Takeda Pharmaceutical Company Limited; Biotest AG CSL Ltd.; Grifols, S.A.; Kedrion S.p.A; ImmunoTek Bio Centers; Bio Products Laboratory Ltd.; China Biologic Products Holdings, Inc.; Octapharma AG; and Origin, Inc. These leading players focus on expanding and diversifying their market presence and clientele, thereby tapping prevailing business opportunities.
Key Developments by Major Market Players are:
- In March 2023, BioLife Plasma Services announced the opening of its plasma donation center in the US with new locations in West Springfield (Massachusetts) and Pearland (Texas). This expansion would help the company expand its business network.
- In February 2021, Atlas Health Medical Group launched the SkinPen. This small pen-shaped microneedling device containing PRP for facelifts punctures the skin and stimulates an anti-aging response.
- In March 2020, Takeda Pharmaceutical Company Limited initiated the development of an anti-SARS-CoV-2 polyclonal hyperimmune globulin (H-Ig) to treat individuals suffering from severe COVID-19.