by Platelet rich plasma or PRP contains several growth factors that play an important role in tissue regeneration and healing. It is prepared from autologous whole blood and helps stimulate and accelerate the healing of injuries in sports medicine and orthopedics. It is also used in aesthetic procedures such as hair loss treatment and skin rejuvenation due to its ability to improve appearance and texture of skin. The growing adoption of PRP in aesthetic procedures is fueling the growth of Europe platelet rich plasma market.
The global 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 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The use of platelet rich plasma has gained increasing popularity in aesthetic procedures in recent years owing to its ability to naturally stimulate collagen production and improve skin texture and hair growth without any negative side effects. Hair loss treatment is one of the major applications areas for PRP as it promotes hair follicle regeneration and reduces hair loss. Moreover, PRP treatment for skin rejuvenation helps diminish wrinkles, fine lines, scars and restore youthful appearance. The growing aesthetic consciousness among consumers has propelled the adoption of minimally invasive anti-aging procedures like PRP which is fueling the growth of Europe platelet rich plasma market over the forecast period.
SWOT Analysis
Strength: Europe Platelet rich Plasma Market has strong presence of major players and established PRP therapy centers across key European countries. High preference for minimally invasive treatment options is also a strength.
Weakness: High costs associated with PRP therapy procedures and lack of reimbursements in some countries. Variations exist in regulatory approval across European nations.
Opportunity: Rising geriatric population and increasing incidence of orthopedic disorders present growth opportunities. Extensive research on PRP therapy applications in other therapeutic areas like wound healing and hair loss treatment can expand market scope.
Threats: Alternative treatment options like stem cell therapy poses competition. Stringent regulations can delay new product approvals. Reimbursement policies remain a challenge.
Key Takeaways
The Europe Platelet Rich Plasma Market Size is expected to witness high growth during the forecast period of 2024 to 2031. The market size is expected to reach US$ 127.19 Mn in 2024 and projected to grow at a CAGR of 5.3% during the forecast period.
Regional analysis: Germany accounted for the largest share of over 25% in the Europe Platelet rich Plasma Market in 2023. Rising sports and lifestyle related injuries, growing PRP therapy adoption and presence of advanced healthcare infrastructure are driving the Germany market. Italy and UK are other major markets in Europe region.
Key players analysis: 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. The market is competitive with these prominent players offering technologically advanced products and focusing on new therapeutic applications of PRP through extensive R&D.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
