Growing applications of cold plasma in the healthcare industry, such as in wound healing and blood coagulation, is a major factor expected to drive market revenue growth.
Growing applications of cold plasma in the healthcare industry, such as in wound healing and blood coagulation, is a major factor expected to drive market revenue growth
According to Emergen Research, the global cold plasma market size was USD 1,661.93 million in 2020 and is expected to reach USD 5,209.02 million in 2028 and register a revenue CAGR of 15.3% during the forecast period, 2021-2028.
Market Dynamics:
The global cold plasma market revenue growth is primarily attributed to factors such as increasing applications of cold plasma in the healthcare, plastic & polymer, textiles, food & beverage, agriculture, and electronics industries. Cold plasma, also known as non-thermal plasma, is a type of plasma that is considered the fourth state of matter. It finds important applications in bioengineering and therapeutics and is also used for treatment of biological tissues and surface modification and sterilization of biomedical devices due to its bactericidal and antimicrobial properties.
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Some of the most common industrial applications of cold plasma include wound healing, blood coagulation, etching, adhesion, decontamination, surface treatment, finishing, printing, coating, and wastewater treatment. Rising safety concerns about food and pharmaceutical packaging, growing use of cold plasma for treatment of textile fiber surfaces, and rapid adoption of cold plasma technology due to advantages such as energy-efficiency and environment-friendliness are other major factors expected to boost market revenue growth over the upcoming years.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Atmospheric Cold Plasma Segment Accounted for Largest Revenue Share in 2020:
The atmospheric cold plasma segment dominated other segments in terms of revenue share in the global market in 2020. Atmospheric cold plasma helps in killing microbes without causing damage to healthy human tissues, and it is widely used in treatment of cancer due to its anti-tumor properties. Moroever, cold atmospheric plasma is used to protect biofilms against allergens, mites, and hazardous molecules. Hence, increasing use of atmospheric cold plasma in the healthcare, textiles, and plastic & polymer industries is a key factor driving revenue growth of this segment.
Wound Healing Segment to Account for Fastest Revenue CAGR:
The wound healing segment is expected to register the fastest revenue growth rate in the global market over the forecast period. Increasing applications of cold plasma in the healthcare sector including wound healing, owing to its numerous benefits such as protection against microbial infections and faster wound healing, rising cases of road accidents and traumatic injuries, and rapid adoption of advanced cold plasma technology for wound management are among the key factors supporting revenue growth of this segment.
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North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America cold plasma market accounted for the largest revenue share in the global market in 2020. Growing demand for cold plasma in the healthcare, plastic & polymer, food & beverage, textiles, and agriculture sectors, increasing use of cold plasma for sterilization of biomedical devices, treatment of biological tissues, and wound healing, growing concerns about safety of food and pharmaceutical packaging, and presence of key market players, including Nordson Corporation, Apyx Medical Corporation, and Enercon Industries, in the region are among the major factors contributing to the North America market revenue growth.
Major Companies in the Global Cold Plasma Market Include:
- Plasmatreat GmbH
- Europlasma NV
- Nordson Corporation
- Apyx Medical Corporation
- P2i Limited
- Enercon Industries
- Adtec Plasma Technology Co. Ltd.
- Relyon Plasma GmbH
- Neoplas GmbH
- Henniker Plasma
For the purpose of this report, Emergen Research has segmented the global cold plasma market based on pressure, application, end-use industry, and region:
Pressure Outlook (Revenue, USD Million; 2018-2028)
- Low-pressure Cold Plasma
- Atmospheric Cold Plasma
Application Outlook (Revenue, USD Million; 2018-2028)
- Wound Healing
- Adhesion
- Etching
- Decontamination
- Finishing
- Printing
- Surface Treatment
- Coating
- Wastewater Treatment
- Blood Coagulation
- Others
End-use Industry Outlook (Revenue, USD Million; 2018-2028)
- Healthcare Industry
- Polymer & Plastic Industry
- Textile Industry
- Food & Beverage Industry
- Agriculture Industry
- Electronics & Semiconductor Industry
- Others
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Region Outlook (Revenue, USD Million; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
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