The market is estimated to grow with a CAGR of 15.7% from 2020-2027.
According to The Insight Partners market research study titled ‘Cold Plasma Equipment Market - Global Analysis and Forecasts by Regime and Application, the global cold plasma equipment market is expected to reach US$ 308.14 Mn in 2027 from US$ 96.67 Mn in 2019. The market is estimated to grow with a CAGR of 15.7% from 2020-2027. The report highlights the trends prevalent in the global cold plasma equipment market and the factors driving the market along with those that act as deterrents to its growth.
Cold plasma is also called as non-thermal plasma and used in wide range of applications in various industries including medical, food and biomedical industries. It is a powerful tool which is used to provide antimicrobial treatment for foodstuffs and food packaging materials. The invention to develop the technology is to develop in-package decontamination. The cold plasma technology offers non-thermal treatment of foods post-packaging. The global cold plasma equipment market is being driven by factors such as rising use of cold plasma in medical treatment, increasing hospital acquired infections (HAI), and government initiatives for prevention of healthcare associated infections (HAIs). On the other hand, growing global healthcare industry is likely to offer significant opportunity for the growth of the global cold plasma equipment market during the forecast period.
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Cold Plasma Equipment Market Competitive Landscape
Some of the prominent players operating in cold plasma equipment market are, Nordson Corporation, Plasmatreat GmbH, Adtec Healthcare, Henniker Plasma, Europlasma NV, Tantec GmbH, TheraDep Technologies, Inc., terraplasma medical GmbH, Apyx Medical and neoplas tools GmbH. The market players are focused towards gaining significant funding and investment for development of new products in order to sustain their position in the market. For instance, in September 2017, US Medical Innovations (USMI) and George Washington University entered into an agreement to launch a new plasma based cancer therapy.
Rising use of cold plasma in medical treatment
Cold plasma is proved very effective in the biomedicine. Cold plasma is used in many medical treatments such as, wound healing, cancer, dermatology, atmospheric plasma on diabetes-induced enzyme glycation, oxidative stress, and inflammation, disinfection and scar treatment. Cold plasma's ability to kill bacteria, including the drug-resistant bacteria, to avoid further infection, helps in chronic wounds. This accelerates the process of wound healing and prevents further complications and the related discomforts. Although there are many other treatment methods for wound healing, it is expected that cold plasma therapy is one of the most effective ways. Plasma sources used in plasma medicine are typically "low temperature" plasma sources operated at atmospheric pressure. In this context, low temperature refers to temperatures similar to room temperature, usually slightly above. Increasing in cases of diabetes, wound and other inflammation, is growing the market. According to the International Diabetes Federation (IDF), in 2017, number of people with diabetes in North America was approximately 46 million which is expected to grow at 62 million in 2045. The increase in the disease prevalence is around 35% during the forecast period.
Cold Plasma Equipment Market Segmentation Review
The cold plasma equipment market is bifurcated on basis of regime into low-pressure cold plasma, atmospheric cold plasma. Cold plasma (or non-equilibrium plasma) is the plasma in which the temperature of the constituents varies from one another. Cold plasma equipment therapy provides a new way to keep hospital patients safe from infections. In 2019, the atmospheric cold plasma equipment dominated the market by regime type contributing a significant share in the market. This attributes to the advantages offered by atmospheric plasma as it is a dry process, requires little energy and economic advantages offered over traditional processing techniques.
The cold plasma equipment market, by application, is segmented into wound healing, blood coagulation, cancer treatment, dentistry and others. In 2019, the wound healing segment captured the largest share in the global cold plasma equipment market by application. This owes to efficient results shown by cold plasma in treatment of chronic wounds leading to its rising adoption by healthcare professionals. The ability of cold plasma to disinfect, kill bacteria, prevent infection and accelerate wound recovery are some of the other factors dominating the growth of the segment. On the other hand, extensive research and development studies witnessing positing results for cold plasma as an effective treatment in cancer is likely to be responsible for cancer treatment to witness fastest growth in the cold plasma equipment market, by application.
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