April 21, 2024
Europe Platelet rich Plasma Market

Digital Transformation is Revolutionizing the European Platelet Rich Plasma Industry

Platelet-rich plasma (PRP) therapy is regarded as a safe and effective treatment option for various musculoskeletal and dermatological conditions like tennis elbow, Achilles tendinitis, acute and chronic wounds, and hair loss. PRP therapy utilizes centrifugation process to concentrate platelets isolated from a patient’s own blood, which when re-injected in the affected area aid faster healing. The therapy harnesses the natural healing potential of growth factors present in platelet-rich plasma. PRP is particularly useful for treating chronic, slow-healing wounds, and other conditions where healing is slow or difficult. The rising sports injuries and accidents, growing popularity of cosmetic procedures, coupled with increasing geriatric population are driving significant demand for PRP treatments.

The global 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 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends: Advances in platelet rich plasma processing devices and centrifugation technologies are revolutionizing the European PRP industry. Manufacturers are focusing on developing advanced platelet separation systems that are affordabe, easy-to-use, and automate the PRP preparation process. Some examples include cell separators with integrated apheresis programs, user-friendly desktop centrifuges with touchscreen interfaces, and battery-operated devices for portable use. The automated systems significantly reduce manual errors, ensure standardization and reproducibility of PRP concentrations. They also help practitioner extract PRP in less than 30 minutes, and enable treatment of more patients in outpatient settings. This digitization trend is expected to boost adoption of platelet rich plasma therapies in Europe over the coming years.

Porter’s Analysis

Threat of new entrants: The threat of new entrants in the Europe platelet rich plasma market size is moderate. Building a brand and establishing a business takes significant investment of capital and time in a market with established players.

Bargaining power of buyers: The bargaining power of buyers in the Europe platelet rich plasma market is high due to availability of alternative treatment options for various medical conditions.

Bargaining power of suppliers: The bargaining power of suppliers in the Europe platelet rich plasma market is moderate as the market players source raw materials from a limited number of suppliers.

Threat of new substitutes: The threat of substitutes in the Europe platelet rich plasma market is low as there are limited alternate treatment therapies.

Competitive rivalry: The competitive rivalry in the Europe platelet rich plasma market is high due to the presence of numerous global and regional players.

Key Takeaways

The global Europe platelet rich plasma market is expected to witness high growth over the forecast period. The global 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 2031.

The Europe platelet rich plasma market is expected to be dominated by Western Europe during the forecast period. North America platelet rich plasma market is also expected to witness significant growth. Key players

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, and Emak Group.

Key players operating in the Europe platelet rich plasma market are focusing on new product launches and acquisitions to strengthen their market position. For instance, in March 2018, Arthrex, Inc. announced the launch of a new platelet-rich plasma system named Angel®.

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