Cold Plasma Market: Global Industry Analysis and Forecast (2023-2029)

Cold Plasma Market size was valued at USD 2.58 Bn. in 2022 and the total Cold Plasma Market revenue is expected to grow at 17.3 % from 2023 to 2029, reaching nearly USD 7.88 Bn.
Cold Plasma Market Overview:
A partially ionized gas called cold plasma contains ions, electrons, ultraviolet photons, and reactive neutrals such as radicals, excited molecules, and ground-state molecules. Cold plasma technology has a tonne of potential in a variety of industries, including plastics and polymers, textiles, electronics, food and agriculture, and medicine. It offers various distinctive advantages over its rivals, including being eco-friendly. The advantages of cold plasma are expected to assure its wider acceptance in the forecast years, especially in the current regulatory atmosphere, where the emphasis on sustainable techniques has increased. The need for cold plasma technology is fueled by advancements in the textile industry as well as growing doubts about food safety. The high capital requirements and limited commercialization of cold plasma technologies are expected to restrain market growth, nevertheless.

Cold plasmas can safely and effectively inactivate bacteria, fungus, viruses, spores, and odor molecules. They improve wound healing, treat skin conditions, and are very effective against all microbiological infections. Medical technology, water treatment, odor management, and cleanliness are just a few of the numerous areas where this revolution in healthcare is being used. People with chronic wounds are becoming more prevalent, particularly among the elderly. For instance, A startup company in Germany called Terraplasma Medical GmbH is currently concentrating on creating a compact hospital treatment device for chronic wounds.
Research Methodology:
In order to evaluate and forecast the Cold Plasma Market, MMR first collected information on the revenues of the major global players and local players. Vendors' products are evaluated using the following parameters to segment the market: by Pressure (Atmospheric, Low - Pressure) Application (Wound Healing, Blood Coagulation, Dentistry, Cancer Treatment, Other)

Market size is determined by using the bottom-up technique. To determine the key market players in the cold plasma sector and to estimate their market revenues, primary and secondary research is conducted. Instead of only depending upon secondary research, a primary research technique was employed. In primary research in-depth interviews with prominent individuals, including market experts, key opinion leaders, purchasing manager were undertaken.

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Report scope:
The goal of the study is to give market participants a detailed understanding of the Cold Plasma Market. In the study, the market's recent ongoing, and estimated future developments are examined. It also offers an easy analysis of complicated data. One of the main factors who actively and thoroughly conduct research is new entrants, market leaders, and followers. The research shows the outputs of the PORTER and PESTEL assessments in addition to potential outcomes of the microeconomic market components. Decision-makers will have a clear futuristic perspective of the market after taking into account internal and external factors that could have a positive or negative impact on the organization.

Investors can better grasp the dynamics and structure of the cold plasma market thanks to the market segmentation analysis and market size forecast in the study. By clearly laying out the comparative study of the top cold plasma enterprises by price, financial status, product, product portfolio, growth strategies, and regional presence, the research serves as a buyer's guide.
Covid-19 Impact on the Cold Plasma Market:
The COVID-19 pandemic affected the cold plasma market because different treatment plans and supply chains were interrupted. The pandemic's travel restrictions, business closures, stay-at-home guidelines, and trade bans presented several difficulties for the manufacturers of pharmaceuticals and medical devices. The patient's hospital treatments have also been substantially hampered by government precautions such as social segregation and restrictions. Therefore, the demand for cold plasma therapies has declined as a result of reduced treatment procedures and the closure of hospitals and clinics, which has an impact on market growth. However, the demand for cold plasma in treating various diseases and infections is expected to increase owing to the resumed services, treatment procedures, rising hospital visits, and lowering COVID-19 regulations, which is expected to enhance market growth throughout the forecast period.
Cold Plasma Market Dynamics:
Market Drivers:

Applications for cold plasma technology are numerous and cross several sectors. This processing technology has a lot of benefits, including little fiber damage, low chemical use, better wettability, low cost, and worker friendliness. It also has low water and energy usage. Additionally, cold plasma technologies do not need to store huge amounts of processing water or chemical supplies on-site, either for deployment or for post-treatment washing. The utilization of cold plasma techniques has been sparked by their advantages over the alternatives already employed in application industries.

Owing to its widespread use in medical therapy, cold plasma demand is rising. The demand for the product is also expected to increase during the forecast years as a result of an increase in Hospital-Acquired Infections (HAIs), which are caused by a lack of cleanliness and safety measures. The demand for novel production methods in the textile sector and other end-use industries, as well as rising safety and decontamination concerns for processed foods, are the main drivers of the cold plasma market. Cold plasma techniques also have certain unique advantages. Cold plasma is becoming more and more popular in the production of self-decontaminating filters and the decontamination of various food, particularly packaging for meat and poultry. This has fueled the market's growth.

When used in conjunction with chemotherapy, cold plasma efficiently treats cancer and aids in wound healing by promoting blood clotting, wound sterilizing, and cell proliferation. Because of its applications, cancer and other skin conditions and injuries can be treated medically effectively. For instance, the cold argon plasma treatment of tumor tissue in head and neck cancers and other cancer types resulted in higher levels of extracellular cytochrome c and triggered more apoptotic cells than in healthy tissue, according to an article published by the Oxidative Medicine and Cellular Longevity in December 2022, titled "Cold Physical Plasma in Cancer Therapy: Mechanism, Signalling, and Immunity". Additionally, cold argon plasma has a higher selectivity for killing cancer cells than non-neoplastic cells. Since cold argon plasma effectively kills malignant cells without causing any adverse effects, demand for cold plasma therapy is predicted to rise, which will help the market develop.

Market Restraints:

The significant capital expenditure required to develop low-cost plasma technologies and their limited commercialization are probably going to hamper the market's expansion to some extent. Companies always evaluate their budget when evaluating the advantages of technology concerning their investment and the time required to recoup that expenditure. Since the vacuum equipment used in cold plasma coating technologies is expensive and needs specialized operating conditions, such as low temperatures and controlled vacuum settings for operation, it is capital-intensive.

Market Opportunities:

The global market for cold plasma is expected to grow over the forecast period as a result of growing opportunities in emerging regions and the healthcare sector. Cold plasma can be utilized to prevent infectious diseases and nosocomial infections because it destroys bacteria that are highly persistent and multi-resistant. Textiles that are sterile and protective gear are in low supply during the COVID-19 epidemic. Clothing can be kept on longer with treatment with cold plasma or ozone-producing plasma. Additionally, it can aid in the reduction of bacteria in gloves, PPE kits, and masks during the hydrophilization process in the textile sector. One of the market's top companies, Plasmatreat, has created a prototype cleaning station that offers solutions for sterilizing protective gear.

Market Challenges:

Only a few small, emerging firms are currently active in the cold plasma sector. Because of this, the commercialization of this technology has been somewhat slow during the past ten years. There are only a few industries where the cold plasma has been successfully applied. Additionally, it is difficult to find because not many factories exist to produce cold plasma-related goods worldwide. Lack of knowledge about cold plasma has also prevented this technology from being used more widely. Therefore, it can be inferred that two issues limited commercialization and low awareness pose a significant barrier to the market's growth unless they are remedied.
Competitive Landscape:
Apyx Medical Corporation, Nordson Corporation, Adtec Plasma, Technology Co. Ltd, P2i , Relyon Plasma GmbH are a few of the major competitors in the global cold plasma industry. They will continue to plan mergers and acquisitions to boost their market shares and growth potential during the forecast period.
Cold Plasma Market Segment Analysis:
Based on Pressure Type, The Atmospheric Pressure segment is expected to grow at the highest CAGR during the forecast period. The market has been divided into two categories based on products: atmospheric and low-pressure cold plasma. The market segment with the biggest share in the past was atmospheric cold plasma, and this segment is expected to grow at the fastest rate throughout the forecast period. A revolutionary medical technique called Cold Atmospheric Plasma (CAP) has many uses in the healthcare industry, including the treatment of burns, wound healing, and infection prevention.

Additionally, it can be used in several surgical and non-surgical procedures. The main market participants are using this technology to create malignant cell treatments. During the forecast years, all of these factors are expected to accelerate the growth of this market. The market will grow significantly as a result of several technical developments, rising demand for better healthcare services, and increased hygiene awareness. Both sectors are expected to experience a considerable increase during the forecast period owing to the growing application scope in various medical procedures.



Based on Application, The Wound Healing segment is expected to grow at the highest CAGR during the forecast period. Since cold plasma can kill bacteria, even drug-resistant bacteria, to reduce the risk of subsequent infection, speed up the healing of wounds, and minimize complications.

For instance, it has been noted that cold atmospheric plasma applied to a patient's wound three times a week for three consecutive weeks has shown a reduction in the wound size, according to an article published by Semantic Scholars.org in June 2020 and titled "Cold atmospheric plasma as an effective method to treat diabetic foot ulcer: A randomized clinical trial." Without having any discernible negative effects on healthy tissue, the cold plasma reduces the bacterial burden in chronic wounds and speeds up recovery. Additionally, helium cold atmospheric plasma (CAP) therapy has been found to decrease the pH of the aqueous media, which may cause wound acidification and hasten the healing process.

In addition, more than 1.36 million individuals every year pass away as a result of traffic accidents and wrecks, according to the World Health Organization 2020. For those between the ages of 15 and 29 years, fatal road accidents are the main cause of mortality. More than 1.35 million people have their lives end prematurely each year as a result of traffic accidents. The adoption rate of cold plasma for wound healing across hospitals and healthcare facilities is thus anticipated to be significant given the huge number of trauma and wound treatment cases reported each year.

Additionally, as the elderly population grows, individuals are more likely to acquire chronic wounds as a result of illnesses like diabetes and peripheral artery disease. For instance, the United Nations' World Population Ageing Highlight 2020 report found that the global geriatric population is growing quickly and that, in 2020, there were about 727.5 million people worldwide who were 65 or older, accounting for about 9.4% of the world's population overall.

The same report also predicted that by the year 2050, there will be about 1.5 billion people in this age group, representing about 12.5 % of the world's population. As a result, the study segment's future growth will be significantly impacted by the aging population, which is also expected to fuel the cold plasma market's growth. Thus, it is expected that the growing geriatric population, rising traffic accident rates, and expanding use of cold plasma for the treatment of chronic wounds will enhance demand for the studied segment, driving the market's growth.
Cold Plasma Market Regional Insights:
Owing to the presence of significant industry players and the availability of numerous FDA-approved products, North America held the highest share of the global cold plasma market in 2022. Additionally, the rapid uptake of technologically improved items in the local healthcare sector will boost the market growth. The market in this region is expected to be driven by rising cancer rates. For instance, in the U.S., cancer was responsible for around 609,660 fatalities. The development of the sector is being fueled by cold plasma's ability to treat cancer and reduce the high rate of fatality cases. During the forecast period, Europe is expected to control a sizable portion of the market.

Increased demand for cutting-edge treatments, an uptick in HAI cases, and growing knowledge of the uses of cold plasma in medicine can all be related to this surge. The largest rise is expected in Asian nations owing to the spread of advanced medical treatments for a range of ailments, as well as rising disposable income and a target population base. Demand for the product is also expected to increase as a result of the fast-growing medical tourism business in the APAC region, which is driven by better healthcare at cheaper costs. For instance, 58,900 foreigners traveled to India on medical visas in 2020–2021, according to the Directorate-General of Commercial Intelligence and Statistics of India's report on export health services.
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Cold Plasma Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 2.58 Bn.


Forecast Period 2023 to 2029 CAGR:
17.3%
Market Size in 2029:
US $ 7.88 Bn.


 Segments Covered:
by Pressure
1. Atmospheric Pressure
2. Low-Pressure


by Application
1. Wound Healing
2. Blood Coagulation
3. Dentistry
4. Cancer Treatment
5. Other


by Regime
1. Low Pressure
2. Atmospheric Pressure



Cold Plasma Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Cold Plasma Market, Key Players are:
1. Apyx Medical Corporation (US)
2. Nordson Corporation (US)
3. Enercon Industries (US)
4. Plasmatreat USA, Inc. (US)
5. Thierry Corporation (US)
6. Surfx Technologies (US)
7. Advanced Plasma Solutions (US)
8. US Medical Innovations (US)
9. UNIQAIR Technologies (Canada)
10. SOFTAL Corona & Plasma (Germany)
11. Relyon Plasma GmbH (Germany)
12. Neoplas GmbH (Germany)
13. Terraplasma GmbH (Germany)
14. Molecular Plasma Group (Germany)
15. CINOGY Technologies GmbH (Germany)
16. Henniker Plasma (UK)
17. AcXys Plasma Technologies (France)
18. Coating Plasma Innovation (France)
19. Ferrarini & Benelli Srl (Italy)
20. COMET Plasma Control Technologies (Switzerland)
21. Europlasma (Belgium)
22. Tantec A/S (Denmark)
23. Adtec Plasma Technology Co. Ltd (Japan)
24. PlasmaLeap Technologies (Australia)

FAQs:

1. Which is the potential market for the Cold Plasma Market in terms of the region?
Ans. In North America region, the growing business and educational sectors are expected to help drive the use of collaborative screens.

2. What are the opportunities for new market entrants?
Ans. The key opportunity in the market is new initiatives from governments that provide funding for Cold Plasma Markets in educational institutes

3. What is expected to drive the growth of the Cold Plasma Market in the forecast period?
Ans. A major driver in the Cold Plasma Market is the prevalence of work from home and remote collaboration created by the COVID-19 pandemic

4. What is the projected market size & growth rate of the Cold Plasma Market?
Ans. The Cold Plasma Market size was valued at US$ 2.58 Billion in 2022 and the total Cold Plasma Market revenue is expected to grow at 17.3 % through 2023 to 2029, reaching nearly US$ 7.88 Billion.

5. What segments are covered in the Cold Plasma Market report?
Ans. The segments covered are Raw material Pressure, Application and, Region.