The global platelet-rich plasma (PRP) tubes market is expected to reach US$ 1,640.94 million by 2028 from US$ 565.10 million in 2021. The market is estimated to record a CAGR of 16.5% from 2022 to 2028.
The rising number of cosmetic and aesthetic procedures and increasing cases of sports injuries drive the market growth. However, high cost and adverse effects of platelet-rich plasma (PRP) treatment are hindering the platelet-rich plasma (PRP) tubes market growth.
Increasing Cases of Sports Injuries Drive Platelet-Rich Plasma (PRP) Tubes Market Growth
To treat sports injuries, medical professionals with high degrees of skills and the best techniques are required for an early return to play. A surge in participation in sports activities leads to associated sports injuries. The Saudi Journal of Sports Medicine report reveals that among the incidence of sports-related injuries among athletes in Jeddah, 50% of injuries are associated with soccer and 34% with basketball in 2020.
The Anterior Cruciate Ligament (ACL)-related sports injuries, one of the major knee ligaments, accounts for ~40% of all sports injuries in the UAE as per the estimates revealed by the Arab Health report. Furthermore, these injuries are approximately five times more common in the UAE than in any other country.
In 2021, 3.2 million people were treated in emergency departments for sports and recreational equipment injuries. Exercise, cycling, and basketball are among the activities most frequently associated with injuries. According to the National Safety Council (NSC), in 2021, about 409,000 injuries were reported due to exercise equipment, the most in any sports and recreation category. PRP injections can help stimulate the healing of a sports-related injury of athletes who underwent a minimally invasive procedure. A PRP treatment is performed by collecting the patient's blood with a blood centrifugation process (which separates plasma from the blood cells) and then injected back into the injured area. The higher level of plasma harvested in the injection comprises growth factors that stimulate faster healing and recovery of the injury. PRP injections have become popular in treating tendon, muscle, and ligament injuries. According to the report published by the National Library of Medicine in 2021, an increase in injury rates in soccer is observed in recent years. This high incidence of sport-related injury is often attributed to great sports specialization and intense practice at an early age. According to the report published by Statista Research Department in 2022, the most frequent injuries were diagnosed by skiers in France in 2020. The lower limbs are at high risk of injury for skiers, with more than 50% of injuries recorded on the legs and knees during 2019-2020.
Therefore, the rising incidence of sports injuries propels the demand for PRP therapies among athletes, driving the growth of the platelet-rich plasma (PRP) tube market.
The number of COVID-19 cases in India has dropped significantly as compared to earlier trends. The repercussions of the COVID-19 outbreak, including supply chain disruptions owing to extended factory shutdown and production delays, persisted for a short period. However, as the demand exceeded supply, this gap increased commodity pricing. The focus on dermatological treatments was less during the outbreak as the government and the healthcare sector focused on the treatment of COVID-19 patients. The dermatology clinics, hospitals, and surgical centers were open only for emergency services. China, has witnessed several issues which has led to disruption of the supply chain, projected decreases in revenue and sales within all industries, but especially the beauty industry. The decline in medical tourism in response to the pandemic in South Korea, Japan, and other countries negatively impacted the market.
The platelet-rich plasma (PRP) tubes market is segmented based on usage into skin rejuvenation, hair restoration, orthopedics, surgical oncology, gynaecology, and others. The orthopedics segment held the largest share of the market in 2021. However, the skin rejuvenation segment is anticipated to register the highest CAGR in the market during the forecast period.
In terms of application, the platelet-rich plasma market is segmented into less than 5ml, 6ml to 10ml, and more than 10ml. The more than 10ml segment held the largest share of the market in 2021 and it is anticipated to register the highest CAGR in the market during the forecast period.
On the basis of end user, the market is segmented into medspa, dermatology office, hospitals & healthcare practices, tricologist, and others. The hospitals and healthcare practices segment held the largest share of the market in 2021 and it is anticipated to register the highest CAGR in the market during the forecast period.
Centers for Disease Control and Prevention; Organisation for Economic Co-operation and Development (OECD); International Trade Administration (ITA); CEIC: Global Economic Data, Indicators, Charts & Forecasts; Japan's Ministry of Land, Infrastructure, Transport, and Tourism; and India Brand Equity Foundation (IBEF) are among the major primary and secondary sources referred to while preparing this report on the platelet-rich plasma (PRP) market.