plasma therapy industry

PORTLAND, OREGON, UNITED STATES, June 7, 2023/EINPresswire.com/ -- According to the report, the global plasma therapy industry was estimated at $350.21 million in 2020, and is anticipated to hit $698.46 million by 2030, registering a CAGR of 8.50% from 2021 to 2030. The study analyzes the important strategies, drivers, competition, market dynamics, size, and important investment regions.

Key Takeaways:

Definition: Plasma therapy, also known as platelet-rich plasma (PRP) therapy, is a medical procedure that utilizes a patient's own blood plasma, enriched with platelets, growth factors, and other bioactive proteins, to promote healing and tissue regeneration.

Increasing Popularity: Plasma therapy has gained significant popularity in recent years due to its potential benefits in various medical fields, including orthopedics, dermatology, dentistry, and sports medicine. It is being explored as a treatment option for conditions such as osteoarthritis, tendinitis, hair loss, and chronic wounds.

Market Growth: The plasma therapy market has experienced substantial growth globally. Factors driving this growth include increasing prevalence of chronic diseases, rising demand for minimally invasive treatments, and growing awareness about regenerative medicine.

Technological Advancements: Advances in technology have contributed to the growth of the plasma therapy market. Innovative devices and kits for plasma separation and concentration have improved the efficiency and effectiveness of the procedure, making it more accessible to healthcare providers.

Regulatory Environment: Regulations regarding plasma therapy vary across countries. Some regions have established specific guidelines and approvals for the use of plasma therapy in certain medical applications. It is important for companies operating in this market to comply with regulatory requirements and seek appropriate approvals.

Key Players: The plasma therapy market comprises various companies operating in the field of regenerative medicine. These include medical device manufacturers, biotechnology companies, and healthcare institutions. Some notable players in the market include Arthrex Inc., Johnson & Johnson, Zimmer Biomet Holdings Inc., and Terumo Corporation.

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Market Drivers:

Growing Prevalence of Chronic Diseases: The increasing prevalence of chronic diseases, such as osteoarthritis, tendinitis, and autoimmune disorders, is driving the demand for plasma therapy. These conditions often result in tissue damage and require effective treatment options for tissue repair and regeneration.

Rise in Minimally Invasive Procedures: There is a growing preference for minimally invasive procedures among patients and healthcare providers. Plasma therapy offers a non-surgical and minimally invasive approach to treat various medical conditions, reducing the risks and recovery time associated with traditional surgical interventions.

Market Segmentation:

Application: Plasma therapy is used in a wide range of medical specialties. The market can be segmented based on the application areas, such as orthopedics, dermatology, dentistry, sports medicine, cardiac surgery, neurology, and others. Each application area may have specific requirements and potential benefits of plasma therapy.

End User: The market can be segmented based on the end users of plasma therapy products and services. This includes hospitals, specialty clinics, ambulatory surgical centers, and research institutions. The choice of end user segment may depend on factors such as the complexity of the procedure, availability of specialized equipment, and expertise required for plasma therapy.

Product Type: Plasma therapy products can be categorized based on the type of devices and kits used for plasma separation and concentration. This includes devices such as centrifuges, kits for platelet-rich plasma (PRP) preparation, and other specialized equipment. The market can be segmented based on the product type and the specific features and functionalities offered by each product.

Geography: The plasma therapy market can also be segmented based on geographical regions, such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Each region may have its own market dynamics, regulatory environment, and healthcare infrastructure, which can influence the adoption and growth of plasma therapy.

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Regional Growth Dynamics:

By region, the market across North America dominated in 2020, garnering more than two-fifths of the global plasma therapy market, due to rise in research and developments made by government and private sectors propels the market growth in this region. Simultaneously, the Asia-Pacific region is expected to cite the fastest CAGR of 10.8% throughout the forecast period. Growing population and rise in awareness of blood donation among individuals in this region drive the market growth.

Key players in the industry-

Regen Lab SA
Zimmer Biomet
MTF Biologics
Arthrex
Terumo Corporation
Exactech, Inc.
Ony Biotech Inc.
Johnson & Johnson (DePuy Synthes)
Pfizer Inc.

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