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Global Cold Plasma Market Growing at CAGR of 15.1% during FY 2021-2028

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Sheryl Dias
Global Cold Plasma Market Growing at CAGR of 15.1% during FY 2021-2028

The global cold plasma market size was valued at USD 84.3 million in 2020 and is anticipated to expand at a CAGR of 15.1% during the forecast period, 2021-2028. The growth of the market is attributed to the rising demand of cold plasma owing to the extensive usage in various medical treatments.


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Cold plasma are plasma which has no thermodynamic equilibrium due to the electronic temperature being higher than the regular temperature. These plasma can be stored in fluorescent devices with mercury-vapor gas in order to contain in specific temperatures. Cold plasma has various application including the food industry to control electrical conduction through specific targets and the medical industry where the plasma is used for bold coagulation, dentistry & even cancer treatments.


Market Trends, Drivers, Restraints, and Opportunities

  • Increase in spending and investing by the companies towards cold plasma is the primary reason for the projection of boosting the market growth during the forecast period, 2021-2028.
  • Rapid growth of the biopharmaceutical companies and thereby that industry can become a major factor in the boosting of the global cold plasma market during the forecast period.
  • High prices for the development of global cold plasma and high cost of services from the company’s perspective is anticipated to hinder the global cold plasma market growth.
  • Cold Plasma when used in high frequencies, especially with no medical inspection can also be harmful for the host including nausea, migraines, and uneasiness in the stomach. This uncertainty can hamper the global cold plasma market growth.
  • R&D investment and technological advancement are expected to offer significant opportunities for the market players. Researchers have found ways to mass produce cold plasma to circulate with the sanitizers for the prevention of the coronavirus spread and also to hospitals to reduce the hospital infected diseases.


Global Cold Plasma Market Segment Insights


Atmospheric pressure cold plasma segment is projected to represent a large market share

Based on types, the global cold plasma market is bifurcated into low-pressure cold plasma and atmospheric pressure cold plasma. The atmospheric pressure cold plasma segment is expected to constitute the major share in 2019 and is anticipated to grow with a significant CAGR during the forecast period, 2021-2028. The major reason attributing to this market growth is the introduction of Cold Atmospheric Plasma or the CAP. The CAP is an innovation in the medical technology field opening a new array of applications including would healing, burn treatment, and infection control, which can all be done at lower costs & at higher efficiencies.


Wound healing segment is estimated to register a huge market share

On the basis of applications, the global cold plasma market is divided into wound healing, blood coagulation, dentistry, cancer treatment, and other medical applications. The wound healing segment is expected to constitute the major share of the market in 2019. This is attributed to the properties of cold plasma where it can accelerate the healing process of any patient along with the removal of contagious particles leading to discomforts.


North America is anticipated to dominate the market

On the basis of regions, the global cold plasma market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America is expected to constitute a major share in 2020. This regional market growth can be attributed to the growing research & development expenditure along with the rising in adoption of the latest technology. The demand of cold plasma is increasing rapidly in this region due to the presence of the major market players in the global cold plasma market, an advantage other regions do not have. The cost of expenditure is significantly lower in North America than that of other economies. However, the market in Asia Pacific is anticipated to expand at a significant CAGR during the forecast period, 2021-2028, as they have prioritized the cost-efficiency perspective of cold plasma combined with their growing population.


Compititive Landscape

Major players competing in the global cold plasma market are U.S Medical Innovations (USMI); LLC; Bovie Medical Corporation; Neoplas Tools GmbH; Europlasma N.V; and P2i Limited. These market players are involved in several business strategies such as mergers, acquisitions partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. In September 2017, the George Washington University along with the U.S Medical Innovations announced a deal for USD 5.3 million to a five year agreement on the research and development activities for cold plasma which now in February 2021, have extended to five more years to 2027.


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