EUROPE PLATELET RICH PLASMA MARKET ANALYSIS

Market Challenges And Opportunities

Europe Platelet Rich Plasma Market- Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others faced problems regarding transportation of drugs from one place to another.

However, the COVID-19 pandemic had a negative impact on the Europe platelet rich plama market, owing to decrease in dermatology and hair care outpatient services during COVID-19. For instance, according to an article published in the journal of Clinical and Experimental Dermatology on December 25, 2020, there was a drop in dermatology and hair care outpatient services and appointments in England in 2020 due to the COVID-19 pandemic. It was reported that during the COVID-19 lockdown, total dermatology appointments fell to 58%, first attendances to 43%, follow-ups to 51%, and day cases to 37% of pre-lockdown levels. Total appointments after the lockdown remained low, accounting for only 75% of pre-lockdown values. Between April and October of 2020, there were 484,415 (17%) fewer total appointments than during the same period in 2019.

Europe Platelet Rich Plasma Market- Restraint

Uncertainty in Efficacy of Platelet Rich Plasma Therapies and Lack of Standardization Increasing recommendations by government bodies against the use of PRP is expected to hinder growth of the market. For instance, in January 2020, the American College of Rheumatology, in partnership with the Arthritis Foundation, released the 2019 ACR/AF Guideline for the Management of Osteoarthritis of the Hand, Hip and Knee, which did not recommend the use of PRP injections for treatment of hip and knee osteoarthritis. Lack of standardization in the preparation and dosage of autologous blood concentrate and platelet-separation techniques is a major factor hindering the market growth. Lack of standardization has led to the lack of strong evidence to support the increasing clinical use of platelet-rich plasma therapy as a treatment modality for musculoskeletal injuries, including orthopedic bone and soft-tissue injuries.

Europe Platelet Rich Plasma Market- Drivers

Rising Use of Platelet-Rich Plasma in Various Therapeutic & Clinical Areas

The increasing use of Platelet-Rich Plasma in various therapeutic and clinical areas, is expected to grow the global platelet rich plasma market over the forecast period. For instance, in June 2021, according to the report published in the National Center for Biotechnology Information, platelet-rich plasma (PRP) is becoming more popular as a non-operative treatment option for a broad spectrum of medical disorders. Also, PRP is widely used in orthopedic and sports medicine to relieve pain through the natural promotion of healing in musculoskeletal diseases such as tendonitis, arthritis, ligament sprains, and tears.