April 24, 2024
Europe Platelet Rich Plasma Market

Europe Platelet Rich Plasma Market Is Set To Be Driven By Rising Cosmetic Surgery Applications

Market Overview

Platelet rich plasma or PRP is derived from centrifugation of whole blood to obtain platelet-rich portion that is injected at injury sites to promote healing by delivering concentrated doses of growth factors. The high concentration of platelets when activated releases growth factors such as platelet-derived growth factor (PDGF), transforming growth factor beta (TGF-β), vascular endothelial growth factor (VEGF), epidermal growth factor (EGF), and fibroblast growth factor (FGF) essential for tissue regeneration. PRP has become a valuable additive in cosmetic surgeries and dermatology to stimulate skin rejuvenation and improve wrinkles, lines and skin laxity.

The Europe Platelet Rich Plasma Market is estimated to be valued at US$ 127.19 Mn in 2024 and is expected to exhibit a CAGR of 5.3% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the Europe Platelet rich Plasma market are Husqvarna Group, Stiga, Stihl, Robert Bosch, Oregon Tools, Active, Al-Ko Kober, Einhell Germany, Cobra, Emak Group. PRP injections are gaining traction in medical applications such as orthopedics, sports medicine and facial rejuvenation due to advantages associated with faster healing, less pain and scarring. The Europe platelet rich plasma market is projected to witness a CAGR of 5.3% during the forecast period driven by increasing geriatric population and rising prevalence of joint disorders, growing awareness about benefits of PRP therapy.

The growing preference for minimally invasive aesthetic procedures and cosmetic surgeries is fueling the demand for PRP treatments in European countries. Expanding medical tourism industry especially in countries such as Turkey, Hungary providing cosmetic procedures at affordable costs is broadening the platelet rich plasma market size in Europe.

Market Key Trends

The rising popularity of evidence-based non-surgical procedures for aesthetic corrections is opening new growth avenues for PRP therapies. Manufacturers are focusing on advancing technologies to develop simplified, cost-effective pure-platelet rich plasma systems without leukocytes which is a key trend. The PRP systems are assisting medical professionals perform various regenerative procedures easily and painlessly in a cost-effective manner without need for anesthesia driving its adoption.

Porter’s Analysis

Threat of new entrants: Europe Platelet Rich Plasma Market Demand High capital requirements and intellectual property protection act as a barrier for new players.

Bargaining power of buyers: Large hospitals and clinics have better negotiating power over pricing and product offerings.

Bargaining power of suppliers: Few PRP system players, so suppliers have greater control over pricing and product differentiation.

Threat of new substitutes: New minimally invasive therapies like mesenchymal stem cell therapy are emerging as substitutes to PRP.

Competitive rivalry: Intense competition exists between global players to expand their geographical reach and PRP product portfolio.

Geographical regions

North America accounted for the largest share of the Europe platelet rich plasma market in 2024, with a value share of over 40%. This is attributed to the easy availability and higher adoption of minimally invasive procedures in countries like the US and Canada.

The Asia Pacific region is poised to witness the fastest growth during the forecast period, expanding at a CAGR of around 7%. Growing medical tourism sector coupled with improving healthcare infrastructure is supporting the increased use of PRP therapy across Asia Pacific countries like India, China and Japan.

The Europe platelet rich plasma market is anticipated to register steady growth through 2030 on account of ongoing research evaluating the clinical efficacy of PRP for various musculoskeletal disorders and sports injuries. Rising popularity of tissue regeneration therapies is another key factor positively influencing the market outlook.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it