Cold Plasma Market Projected to Surge at 12.3% CAGR, Reaching USD 6.2 Bn by 2031
Zion Market Research has published a new report titled “Cold Plasma Market by Regime (Atmospheric Cold Plasma, and Low-Pressure Cold Plasma), and by Application (Wound Healing, Blood Coagulation, Dentistry, Cancer Treatment, and Other Medical Applications): Global Industry Perspective, Comprehensive Analysis and Forecast.
According to the report, The global cold plasma market was valued at US$ 2.2 Bn in 2022 and is projected to expand at a CAGR of 12.3% from 2023 to 2031.
Non-thermal plasma or non-equilibrium plasma also known as cold plasma is classifications of plasma and also considered as fourth state of matter. Cold plasma has various applications in industries like medical, bioengineering, and therapeutics. It is used in sterilization of biomedical surfaces, to treat living biological tissues, and also in surface modification of biomedical devices and materials due to its antimicrobial and bactericidal properties.
The demand for cold plasma is rising due to its extensive usage in medical treatments. Growing cases of Hospital Acquired Infections (HAI’s) due to lack of sanitation and precautions is boosting the demand for cold plasma market in the forecast period. Cold plasma exhibits antifungal, antimicrobial, and antiviral properties which help in eliminating HAIs. But, huge capital required to implement the technology is hindering market growth for cold plasma.
The market for cold plasma is segmented based on application, regime, and regions. On the basis of regime the cold plasma market is segmented into atmospheric, and low-pressure cold plasma. The segment for atmospheric cold plasma accounted for major share of the market in 2018, since this is a new technology which has wide range of applications in the healthcare sector such as infection control, burn treatment, and wound healing. It also has applications in surgical and non-surgical procedures.
By application the market for cold plasma is segmented into cancer treatment, wound healing, dentistry, blood coagulation, and other medical applications. The segment for cancer treatment is likely to grow at high CAGR in the forecast period due to major breakthrough technologies of cold plasma in this application segment. Cold plasma has shown efficacy in pre-clinical models of various cancers like lung, skin, brain, breast, neck, bladder, and head cancer. Besides, in-vitro and in-vivo studies also reveal that cancer cells are efficiently killed by cold plasma, by decreasing the velocity of cell migration, which is an important implication in the disease treatment.
Regional segmentation includes the current and forecast demand for Asia Pacific, North America, Latin America, Europe, and Middle East & Africa with its further bifurcation into major countries. Asia Pacific is likely to grow at high CAGR in the forecast period owing to rising penetration of highly sophisticated treatment procedures for disease treatment along with increasing disposable income of the population. Besides, expanding medical tourism industry, due to low pricing healthcare facilities in Asia Pacific is further propelling market growth in this region.
Some of the players included in cold plasma market are -
- Apyx Medical Corporation
- Europlasma N.V.
- Bovie Medical Corporation
- U.S. Medical Innovations (USMI)
- Neoplas Tools GmbH
- COMET Plasma Control Technologies
- Henniker Plasma
- P2i Limited.
The report segments the cold plasma market as follows:
Global Cold Plasma Market: Regime Segment Analysis
- Atmospheric Cold Plasma
- Low-Pressure Cold Plasma
Global Cold Plasma Market: Application Segment Analysis
- Wound Healing
- Blood Coagulation
- Dentistry
- Cancer Treatment
- Other Medical Applications
Global Cold Plasma Market: Regional Segment Analysis
- North AmericaU.S.
- EuropeUKFranceGermany
- Asia PacificChinaJapanIndia
- Latin AmericaBrazil
- Middle East and Africa
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