Wilmington, Delaware, United States, March 31, 2023 (GLOBE NEWSWIRE) -- According to recent research study by Transparency Market Research, the global cold plasma market stood at USD 3.1 Bn in 2022 and the global market is projected to reach USD 17.3 billion by 2032. The global industry is anticipated to expand at a CAGR of 19.3% between 2022 and 2032.
Cold plasma technology has various applications in the healthcare industry, including wound healing, cancer treatment, and sterilization of medical equipment. The increasing prevalence of chronic wounds, surgical site infections, and hospital-acquired infections has led to the adoption of cold plasma technology in the healthcare industry. Moreover, the rising demand for non-thermal and eco-friendly sterilization techniques has further boosted the demand for cold plasma technology in the healthcare industry.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | USD 3.1 Bn in 2022 | |
| Estimated Value | USD 17.3 Bn by 2032 | |
| Growth Rate | 19.3% | |
| Forecast Period | 2022–2032 | |
| No. of Pages | 250 Pages | |
| Market Segmentation | By Regime and End Use Industry | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | Nordson Corporation, Plasmatreat GmbH, Relyon plasma GmbH Corporation, Henniker Plasma, ADTEC Plasma Technology Co., Ltd., Bovie Medical Corporation, Neoplas Tools GmbH, Advanced Plasma Solutions, COMET Plasma Control Technologies, and Apyx Medical Corporation | |
The market value of cold plasma is also increasing due to the growing awareness regarding the benefits of cold plasma technology. The benefits of cold plasma technology, such as its ability to sterilize surfaces without damaging them and its effectiveness in killing microorganisms, are gaining recognition among consumers. Moreover, the increasing adoption of eco-friendly technologies has further accelerated market growth.
Additionally, advancements in cold plasma technology, such as the development of atmospheric-pressure cold plasma (APCP) and micro-plasma jets, have led to the expansion of its applications in various industries. APCP has been used in food processing, textile, and polymer industries for surface treatment and sterilization, while micro-plasma jets have been used in the electronics industry for etching and cleaning. This factor is likely to boost the market prospects in the near future.
Furthermore, governments across the globe are promoting the adoption of eco-friendly technologies, including cold plasma technology, to reduce carbon emissions and improve sustainability. Thus, these initiatives to promote the use of cold plasma technology are expected to propel the market share in the forthcoming years.
In addition, investments in cold plasma technology have been increasing over the years, with several companies investing in R&D to develop new applications and improve the efficiency of cold plasma technology. Moreover, the increasing number of startups in the cold plasma market is further driving the growth of the market.
Besides, cold plasma technology has been gaining popularity in the food industry due to its ability to extend the shelf life of food products, improve food safety, and reduce the use of chemical preservatives. The increasing demand for processed and packaged food products, along with the need for eco-friendly and cost-effective food processing techniques, is expected to escalate the market growth during the forecast period.
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Key Findings of the Market Report
- On the basis of regime, atmospheric cold plasma is likely to be most preferred, expected to expand at a CAGR of 18.6%
- Based on the end-use industry, the medical segment is anticipated to constitute a significant share during the forecast period
- North America is projected to lead the market for cold plasma from 2022 to 2032, being deployed extensively to treat cancers
Global Cold Plasma Market: Growth Drivers
- The global cold plasma market is projected to expand at a steady pace from 2022 to 2032 due to the increasing focus on energy conservation and environmental sustainability, which has led to the adoption of eco-friendly technologies in various industries
- Another factor that is projected to augment the market growth includes the increasing adoption of cold plasma technology in the aerospace industry.
- Additionally, the ongoing research and development activities in the field of cold plasma technology is a major factor that is anticipated to fuel the market prospects in the near future.
Global Cold Plasma Market: Regional Landscape
- The United States is expected to garner a valuation of US$ 5.5 billion by the end of 2032
- Cold plasma demand in the United Kingdom to surge rapidly, expected to register an astounding 20.8% CAGR from 2022-2032
- Japan to be an important investment hub with regard to cold plasma technology, registering a dollar opportunity worth US$ 704 million
- Market for cold plasma to reach a valuation of US$ 377 million in South Korea
Global Cold Plasma Market: Key Players
- Nordson Corporation
- Plasmatreat GmbH
- Relyon plasma GmbH Corporation
- Henniker Plasma
- ADTEC Plasma Technology Co., Ltd.
- Bovie Medical Corporation
- Neoplas Tools GmbH
- Advanced Plasma Solutions
- COMET Plasma Control Technologies
- Apyx Medical Corporation
Competitive Landscape
Prominent players in the cold plasma industry are taking advantage of the rapidly increasing demand for cold plasma. To further their outreach, players are relying on collaborations, partnerships and acquisitions with existing small, medium and large-scale providers. Some prominent market developments are as follows:
- In 2021, Enercon Industries, a leading manufacturer of atmospheric plasma systems, launched its new product, the Blown-ion+ plasma treater, which is designed for improving adhesion in packaging, label, and converting applications.
- In the same year, Plasmatreat, a global leader in atmospheric plasma technology, announced the launch of its new product, the Openair-Plasma Robot System, which is a fully automated surface treatment solution for large-scale production environments.
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Global Cold Plasma Market: Segmentation
Regime
- Atmospheric Cold Plasma
- Low-Pressure Cold Plasma
End Use Industry
- Medical
- Textile
- Polymer & Plastic
- Electronics & Semiconductors
- Food & Agriculture
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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