The Europe Platelet Rich Plasma (PRP) Market is projected to reach US$ 42.75 million in 2022 and US$ 84.10 million by 2032, with a CAGR of 7% over that period.
The platelet rich plasma (PRP) market in Europe is anticipated to increase from US$ 35.3 million in 2015 to US$ 37.5 million in 2016. Revenues will continue to be driven by the use of platelet-rich plasma in the treatment of musculoskeletal injuries such as tennis elbow, Achilles tendinopathy, and plantar fasciitis. Due to its minimally invasive process and speedier recovery period, PRP therapy is also becoming more popular in the treatment of sports-related and elderly injuries.
PRP kits will continue to outsell instruments by product type in 2016, accounting for more than 75% of the market’s revenue. Based on blood type, autologous kits, with a market value of US$ 24.2 Million, will have the largest demand among the various platelet rich plasma kits. P-PRF kits, which had a market value of US$ 10 million in 2015, will experience the fastest increase by end-product type in 2016, rising by 8.6%.
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PRP therapy will continue to be most widely used in the treatment of knee and elbow injuries, according to application. sales from the elbow application segment are anticipated to increase by 6.3%, while sales from the knee application segment will increase by 7.2%. In 2016 and beyond, the use of PRP therapy to address the rising prevalence of osteoarthritis and tennis elbow will acquire more traction.
The largest market in Europe, the UK, will see PRP revenues expand by 7.3% in 2016, up 0.20 percent from the 7.1% growth in 2015. The high frequency of sports-related injuries and the high level of PRP therapy knowledge among patients and the medical community in the United Kingdom will continue to drive the market’s expansion there.
With a 6.5% increase in revenue in 2016, France will maintain its position as the second-largest market in Europe for PRP. A variety of PRP players, including Biomet, Inc., DePuy Synthes, Inc., and Stryker Corporation, have subsidiaries and distributors in France, and the market is flooded with extremely creative goods.
Johnson & Johnson Inc. and Stryker Corporation are the established players in the Europe PRP market. Johnson & Johnson’s PEAK Platelet Rich Plasma System and Stryker Corporation’s RegenKit THT Autologous Platelet-rich Plasma (A-PRP) will continue to witness sizeable sales in 2016. Arthrex – Arthrex Angel System from Arthrex Inc. and GPS® III Platelet Separation System by Zimmer Biomet Holdings Inc. will also account for substantial revenue share of the Europe PRP market.
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Long-term Outlook: The PRP market in Europe is expected to increase at a CAGR of 6.6% during the forecast period 2016-2024. The UK will continue to be at the forefront of overall demand, with France and Germany accounting for sizeable market share. While FMI maintains a positive outlook on the Europe PRP market, challenges, including lack of standardisation in preparation and dosage of autologous blood concentrate, and uncertainty about therapy efficacy can impede growth during the forecast period.
Drivers and Trends:
The Europe PRP market was valued at US$ 35.3 Mn in 2015, and is projected to grow at a CAGR of 6.6% over the forecast period 2016-2024 owing to rising demand for PRP therapy in sport injuries.
Platelet-rich Plasma (PRP) therapy is a minimally invasive procedure and an alternative option to surgery. PRP therapy is a quick and highly effective treatment for reducing the pain and enhances tissue regeneration power with less recovery time along with higher success rates. PRP treatment is very cost effective compared to surgical procedures for orthopedic and sports injuries.
Some major factors driving the growth of PRP market are expanding PRP application in the sports medicine industry, technological advancements in PRP therapy, progressive demographic ageing of the older population etc. These factors are expected to fuel the growth of the market growth rate over the forecast period.
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Key Segments Covered:
Product Type
- Instruments
- Kits
- Kits BY Type
- Pure Platelet-Rich Plasma (P-PRP)
- Leukocyte-Rich Platelet-Rich Plasma (L-PRP)
- Leukocyte-Platelet-Rich Fibrin (L-PRF)
- Pure Platelet-Rich Fibrin (P-PRF)
- Kits BY Type
- Kits BY Origin
- Autologous Platelet-Rich Plasma
- Homologus Platelet-Rich Plasma
- Allogeneic Platelet-Rich Plasma
By Application:
- Knee
- Elbow
- Foot and Ankle
- Shoulder
- CMF
- Others
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Key Countries Covered:
- Europe
- The U.K.
- France
- Germany
- Spain
- Italy
- Rest of Europe
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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