Published on : May 17, 2016
Platelet rich plasma (PRP) is a patient’s own blood plasma or a donor’s blood plasma used to stimulate regeneration and repairing of soft tissue and bones. PRP contains 4-8 times more platelet concentration than individual blood plasma. Platelets play an important role in blood clotting. PRP also contain hundreds of proteins called growth factors which are responsible for healing injuries. Due to increasing research, there has been advances in platelet rich plasma devices, which in turn has led to a wider adoption and demand for platelet rich plasma therapy.
According to a research report by Transparency Market Research (TMR), a market intelligent company, the global platelet rich plasma market in Asia Pacific is expected to expand at a high CAGR of 15.4% between 2015 and 2023. The platelet rich plasma market in Asia Pacific, which was valued at US$30.0 mn in 2014, is anticipated to reach US$110.0 mn in 2023 owing to the increasing prevalence of orthopedic disorders.
Rising Incidences of Sports Injuries Boosts Platelet Rich Plasma Market
The prevalence of orthopedic disorders among the people in Asia Pacific has led to a growth in the global platelet rich plasma market. Rising incidences of sports injuries is also driving the global platelet rich plasma market in Asia Pacific. The growing application of PRP in cosmetic or plastic surgeries has also encouraged the market’s growth to a certain extent. Moreover a rising awareness among the people about PRP efficacy has fueled the platelet rich plasma market in Asia Pacific.
China to Dominate the Platelet Rich Plasma Market
On the basis of geography, the platelet rich plasma market in Asia Pacific is segmented into China, Thailand, Malaysia, India, Singapore, South Korea, Taiwan, Hong Kong, Australia, Philippines, and Rest of Asia Pacific. Of these, China currently rules the platelet rich plasma market in Asia Pacific. China is expected to continue its dominance in the coming future too.