The platelet-rich plasma therapy industry is expected to grow exponentially in the coming years, which is excellent news for people who want to treat their injuries with something other than surgery. This noninvasive procedure takes a person's own blood – after being broken down into red and white cells and platelets – and injects it back into the injured area of their body.
"Orthopedic PRP treatment accounted for 35 percent of the segment's revenue share in 2016."
Two reasons PRP therapy is likely increasing, according to a press release from Future Market Insight, is because of an increase in orthopedic injuries and the number of injuries and body parts that doctors can now treat with PRP. Orthopedic PRP treatment accounted for 35 percent of the segment's revenue share in 2016.
Further, the sporting world is likely to boost numbers as well, as more and more athletes are turning to this alternative treatment to get back on the field quickly. That, of course, is not a surprise considering they have millions of dollars on the line.
In total, the PRP market is projected to increase year-over-year by nearly 12 percent from 2015 to 2016. Doing so will push its revenue total to $224 million.
Future Market Insight broke down the PRP market increase in several ways:
- The market revenue's greatest source of income will likely be from the autologous PRP segment. The research noted it accounted for almost all of the revenue in 2016.
- There are various kinds of PRP. Pure PRP will have a revenue share of around 65 percent. Its year-over-year growth is projected to be just over 11 percent, hitting $144 million in revenue in 2016.
- Don't count out overseas markets. The PRP market in the rest of the world may increase by 16 percent in 2016, per the research's projections.
Grand View Research also believes the stem cell market is healthy. It reported that it's expected to grow by nearly 20 percent until 2020. It's currently valued at nearly $38 billion.
The source noted that one of the main reasons this growth is expected is because of the large amount of research and development that is streaming into the stem cell industry. And while the new Presidential- and Vice Presidential-elect likely have at least some stem cell scientists on edge, there's still reason to believe this type of therapy will continue to advance and grow well into the future.
The future of PRP is bright, and many people who want to avoid invasive procedures are turning to it as a trusted alternative method of treatment. If you'd like more information about PRP therapy, talk to a professional, such as those who work at Longevity & Stem Cell Centre. These professionals will be happy to diagnosis your condition and discuss treatment options such as PRP therapy.