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Plasma Therapy Market Segments: By Type (Pure PRP, Leucocyte-Rich PRP, Pure Platelet-Rich Fibrin and Leukocyte-Rich Fibrin); By Source (Autologous and Allogenic); By Application (Orthopedics, Dermatology, Dental, Cardiac Muscle Injury, Nerve Injury and Others); By End User (Hospitals & Clinics and Research Institutions) and Region - Global Analysis of Market Size, Share & Trends for 2014- 2020 and Forecasts to 2030
[ 170 + Pages Research Report ] Plasma Therapy Market to surpass USD 744.18 million by 2030 from USD 195.9 million in 2020 at a CAGR of 12.74 % in the coming years, i.e., 2020-30.
Plasma is the main component of blood which accounts for more than half (about 55%) of its overall content. Water, salts, and enzymes are transported by plasma. Plasma's primary function is to carry nutrients, hormones, and proteins to the areas of the body that need them. Plasma therapy is a medical technique that uses a healed patient's blood to produce antibodies against certain individuals that are infected. Plasma therapy is mainly used to heal the wound, androgenetic alopecia, and facial rejuvenation. Plasma therapy finds its application in dentistry, orthopedic and dermatological specialties.
Global Plasma Therapy Market to surpass USD 744.18 million by 2030 from USD 195.9 million in 2020 at a CAGR of 12.74 % in the coming years, i.e., 2020-30. Growing incidences of sports injuries are driving the growth of the global plasma therapy market. The increase in the number of patients with androgenic alopecia globally has contributed to the rising demand for plasma therapy. Because of the growing use of platelet-rich plasma in different clinical fields, the plasma therapy market is flourishing at a rapid rate. Furthermore, increased awareness among consumers about plasma donation is anticipated to strengthen the market further.
Pure PRP segment to grow with the highest CAGR during 2020-30
Global Plasma Therapy Market is segmented by type into Pure PRP, Leucocyte-Rich PRP, Pure Platelet-Rich Fibrin, and Leukocyte-Rich Fibrin. Pure PRP, the segment held the largest market share of XX.X% in the year 2019 because of its effective result in treatment. Increased health care funding and increased use of PRP in hospitals and other clinics are propelling the growth of the market. Due to increased use and antimicrobial effects, the Pure Platelet-Rich segment is also expected to have healthy growth.
An autologous segment to grow with the highest CAGR during 2020-30
Global Plasma Therapy Market is divided by Source into Autologous and Allogenic. Autologous, the segment held the largest market share of XX.X% in the year 2019 and will continue to dominate the market in the coming years. The growth of the autologous source segment of the market is driven by the recognition of plasma therapy and its acceptance as a suitable remedy for the healing of bones and other tissues.
Hospitals & Clinics segment to grow with the highest CAGR during 2020-30
Global Plasma Therapy Market is divided by end-user into Hospitals & Clinics and Research Institutions. Hospitals & Clinics, the segment held the largest market share of XX.X% in the year 2019 and will continue to dominate the market in the coming years. There is a rise in healthcare expenditure owing to increasing awareness among the consumers. Also, the use of PRP products in hospitals is expected to drive the growth of the segment.
Rising incidences of osteoarthritis
Increasing incidences of osteoarthritis are expected to drive the plasma therapy market shortly. A type of plasma therapy, platelet-rich plasma (PRP), is considered a safe and effective treatment for osteoarthritis. Platelet-rich plasma (PRP) is a concentrated autologous blood growth factor that is injected into the joint to provide symptomatic relief by reducing inflammation and slowing the progression of osteoarthritis. This therapy is a simple, minimally invasive technique that can be performed in primary care to treat knee joint osteoarthritis.
Increasing awareness regarding plasma donation
The rising awareness among the populace about plasma donation is predicted to boost the plasma therapy market. Many medical institutions, groups, and blood donation centers are coming together to raise awareness among the population regarding plasma donation. The plasma contains antibodies that fight against the infection and thus is a treatment option for seriously infected patients in the absence of any vaccine or drugs. These factors are estimated to favor the global plasma therapy market in the coming years.
High cost associated with plasma therapy market
The high price of plasma therapy market is anticipated to restrict the market growth. The market is limited by the cost of extraction of plasma from blood and storage of extracted plasma. The procedure of separating plasma and blood cells from the blood is called Plasmapheresis. The cost of Plasmapheresis is high which impedes many patients to access the treatment.
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Global Plasma Therapy is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. Global Plasma Therapy in North America held the largest market share of XX.X% in the year 2019. North America will continue to dominate the global Plasma Therapy owing to rising healthcare expenditure and the rising awareness about plasma donation among consumers. Besides, the growing occurrence of orthopedic and sports injuries and the rising geriatric population in the region is predicted to proliferate the plasma therapy market.
Global Plasma Therapy Market is further segmented by region into:
Plasma Therapy Market Segments:
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