Leeds, UK -- (SBWIRE) -- 07/16/2019 -- Platelet rich plasma can naturally induce early repair of muscles and ligaments in case of orthopaedic wounds, degenerative knee ligament, skin rejuvenation and restoration process by using platelets from patients' blood that is centrifuged. Awareness among ageing population looking for both cosmetic and non-cosmetic benefits and availability of skilled professional performing the procedure is fuelling the growth of platelet-rich plasma market in Europe.
Europe platelet-rich plasma market is expected to reach $ 171.1 million by the end of 2026 and register a CAGR of 9.2% during the forecast period of 2018-2026.
Insight to Europe Platelet-Rich Plasma Market
Europe platelet-rich plasma market holds gigantic growth potential and is expected to expand at 9.2% CAGR over 2018-2026. As per senior research consultant at FutureWise' speculation, market players in Europe platelet-rich plasma market are expected to witness generous growth opportunities over the next few years. However, the growth is prone to pending approvals for numerous investigational applications of PRP therapy.
Market Differentiators Trending the Europe Platelet-Rich Plasma Market
Europe market for platelet-rich plasma kits and systems is dominated by Korea based manufacturers of kits & systems.
These Korean companies have a distribution partnership with domestic distributors, pharmacies and GPOs for distribution of their products in EU5.
Competition Overview
> Although Europe PRP market is dominated by Korean players, regional players such as Glofinn oy (Finland), Regen Lab SA (Switzerland), etc. have a considerable volume share.
> The overall market competition is moderate and the market is fragmented with a large number of global and regional players operating. Despite the fragmented market, penetration in the market is not limited by competition.
> Among all applications of platelet-rich plasma, cosmetic & aesthetic application segment led the Europe market in terms of revenue, in 2017 and this trend is expected to continue throughout the forecast period. Due to the high penetration of PRP treatments in the cosmetic industry, cosmetic/dermatology/trichology clinics end-user segment clearly dominated the Europe platelet-rich plasma market.
> Among EU5 countries, Germany dominated the Europe market in 2017 with 33.2% revenue share. Manufacturing industry for platelet-rich plasma kits and systems is concentrated in Germany, which in part is attributed to the dominance of Germany in Europe.
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Europe Platelet-Rich Plasma Market Segmentation
Europe platelet-rich plasma market is segmented, by sales channel, end-user and applications. Being low margin product, direct sales channel sub-segment of PRP kits product type is at the forefront. All clinics segments collectively experience high demand for PRP kits in Europe and hence are major end-users. Cosmetic applications, including skin rejuvenation, scar treatment, skin firming & whitening, fat grafting, hair loss treatment etc pose stupendous demand for PRP kits.
In the U.K., PRP treatment industry is well established. However, there's a limited presence of domestic manufacturers of PRP kits in U.K. Hence, PRP kits are availed in the country through distributors that have a partnership with manufacturing companies.
Key Market Drivers for Europe Platelet-Rich Plasma Market:
> Growing Popularity of PRP as Surgical Adjuvant
Introduction of a more sophisticated concept of tissue regeneration prompted the tissue regeneration applications of PRP, and PRP is now emerging as a glorious instrument of regenerative medicine
> Frequently Growing Applications of PRP
Emerging application areas for PRP include pain relief, ortho-biologics, musculoskeletal and sports medicine, tendinopathy treatment, breast reconstruction, periodontal tissue engineering (dentistry) etc. and the list is continuously growing
Major Market Challenges Faced by Europe Platelet-Rich Plasma Market
> Non-Approvals for Therapeutic Use
PRP therapy for medical use is largely debated, as clinical trials across Europe and the United States are showing conflicting results
> Conflicting Opinions Among Clinicians
Because the PRP therapy is unapproved by the regulatory authorities of Europe, there exists confusion among clinicians whether to use PRP procedures in their office or not
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Competitive Landscape:
- Tier 1 players- established companies in the market with a major market share
- Tier 2 players
- Emerging players which are growing rapidly
- New Entrants
FutureWise Takeaways
- Growth prospects
- SWOT analysis
- Key trends
- Key data-points affecting market growth
Objectives of the Study:
- To provide with an exhaustive analysis on the Europe plasma rich platelets market, by sales channel, by end-user, and application
- To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
- To evaluate and forecast micro-markets and the overall market
- To predict the market size in Europe
- To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
- Profiling of companies to evaluate their market shares, strategies, financials and core competencies
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