Asia Pacific platelet rich plasma market to Rise at a CAGR 15.4% by 2023

The rising incidence of orthopedic diseases, neurological disorders, cardiovascular diseases, sports injury, and obesity has proven crucial in keeping demand for platelet rich plasma (PRP) high in Asia Pacific. The introduction of advanced devices for better efficiency in PRP preparation has also bode well for the market. These factors are expected to boost the Asia Pacific platelet rich plasma market at a CAGR of 15.4% between 2015 and 2023, as per Transparency Market Research (TMR).

TMR pegs the overall value of the market at US$30 mn in 2014, and has projected it to reach US$110.0 mn by the end of 2023. With millions opting for non-invasive cosmetic surgery every year, and the number exhibiting a robust increase, demand from the Asia Pacific platelet rich plasma market is expected to rise considerably in the forthcoming years.

Among other market drivers, the increasing awareness about PRP products and devices across emerging economies will prove extremely beneficial for the market. However, the rising commercialization of these treatments has fueled their prices. This acts as a major bottleneck restraining the market’s trajectory. Threat associated with therapy failure also limits the market to an extent.

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Rising Investment in Healthcare Puts China at the Fore of Asia-Pacific PRP Market

Regionally, the Asia Pacific platelet rich plasma market comprises 11 major segments, comprising the Philippines, India, Australia, China, Thailand, Singapore, Malaysia, Hong Kong, Taiwan, South Korea, Japan, and Rest of Asia Pacific. Of these, China held the leading share of 36.1% in the Asia Pacific PRP market based on revenue, trailed by Australia. The China market for platelet rich plasma is expected to exhibit a CAGR of 17.0% between 2015 and 2023. The high awareness about the PRP technology across various treatments, the rising investment in healthcare, and research and development activities are the key factors bolstering demand from the aforementioned countries.

Currently, South Korea holds the third-largest share in the Asia Pacific PRP market. However, the market in India is expected to rise at a faster pace. Currently India holds a smaller share in the Asia Pacific PRP market compared to other developed markets in the region. However, the increasing geriatric pool in the country, presence of skilled doctors, and increasing awareness will boost demand for PRP in India.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.


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