Rockville, MD , Nov. 07, 2024 (GLOBE NEWSWIRE) -- The Cold Plasma Market is estimated to reach US$ 3,171.7 million in 2024 and expand at a robust CAGR of 16.1% through 2034. The market is expected to attain a valuation of US$ 14,112.9 million by 2034.
The market is being driven by increasing advancements in plasma tube systems, which have opened up new frontiers for in-vivo reduction of food-borne pathogens. Therefore, manufacturers are being motivated to develop food-grade cold plasma testing kits to tap into credible growth opportunities.
Recognizing the latest consumer trends, key players are moving toward the development of eco-friendly and superior-quality cold plasma systems for more precise and effective processing. Additionally, increasing breakthroughs in cancer diagnostics are expected to propel significant adoption of cold plasma therapies.
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Key Takeaways from the Cold Plasma Market Study:
- In 2019, the cold plasma market generated revenue worth US$ 1,503.6 million.
- The East Asia market is expected to capture a value share of 36.5% in 2024. In the same year, the region is estimated to be worth US$ 1,157.7 million and is projected to expand at a thrilling CAGR of 16.7% through 2034.
- In East Asia, South Korea is the manufacturers’ center of attraction due to its relatively higher growth rate of 18.6% through 2034. The country is forecasted to reach US$ 753.3 million by 2034.
- North America is predicted to acquire 28.6% of market share in 2024. By 2034, the regional market is expected to accumulate US$ 4,106.8 million, growing at a robust CAGR of 16.3% through 2034.
- Cold plasma is significantly used for finishing applications. The segment is expected to obtain a market share of 23.3% in 2024. By 2034, the segment is forecast to amass US$ 3,373.0 million, accelerating at a pace of 16.5% CAGR.
“Key investors and stakeholders consider East Asia as a lucrative market for the development of cold plasma technology," says a Fact.MR analyst.
Leading Players Driving Innovation in the Cold Plasma Market:
Nordson Corporation | Europlasma NV | Plasmatreat GmbH | Terraplasma Medical GmbH | Henniker Plasma | US Medical Innovations | Molecular Plasma Group | Nordson Corporation | Adtech Plasma Technology Co Ltd. | Smith & Nephew plc. | Thierry Corporation | Others
Competitive Landscape:
Market players are experimenting and exploring new ways to use cold plasma technology beyond the scope of existing applications. Additionally, players are enhancing their existing technology by lowering costs, raising efficiency, or adding new functionalities to their offerings to attract customers.
Industry leaders are further partnering with universities, research institutions, or other firms in the related fields to foster innovation and accelerate new product development. Market leaders are capturing smaller companies equipped with complementary technologies or prominent regional presence to diversify or rapidly expand their reach.
Recent Developments in the Cold Plasma Market:
- In 2020, Plasmatreat used a prototype cleaning station, along with the Bavarian Red Cross, to disinfect single-use protective clothing. This development came into place to address the needs of frontline healthcare workers tackling COVID-19-infected patients.
- in February 2020, Adrech Plasma Technology commenced a new project in collaboration with Hull York Medical School. The project is based on the testing of gas plasma on osteomyelitis bone infections. The goal of this project is to help establish a laboratory testing model for assessing and improving plasma treatment for osteomyelitis biofilm infections.
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Cold Plasma Industry News:
- By using plasma systems and open-air plasma processes, Plasmatreat GmbH created a number of surface-treatment methods and tools in June 2023.
- Relyon Plasma declared in January 2023 that the CAN-Bus interface would soon be added to its piezobrush PZ3-i to improve it even further. This compact, safe, and efficient piezobrush PZ3-i cold plasma unit is intended for integration into both new and existing production lines. It is ideal for pre-treating printing, bonding, and laminating processes, guaranteeing equal quality in both the process and the final result.
Segmentation of Cold Plasma Market Research:
- By Application:
- Surface Treatment
- Sterilization and Disinfection
- Coating
- Finishing
- Adhesion
- Wound Healing
- Others
- By Region:
- North America
- Europe
- Latin America
- East Asia
- South Asia and Oceania
- Middle East and Africa
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