Cold Plasma Equipment Market Dynamics and Trends by 2031

The Cold Plasma Equipment Market size is projected to reach US$ 570.15 million by 2031 from US$ 148.26 million in 2022. The market is expected to register a CAGR of 16.2% in 2023–2031. Increase in research activities and product innovation led to the new product launches in the market. Additionally, increase in strategic collaboration among market players are likely to remain key Cold Plasma Equipment Market trends.

Cold Plasma Equipment Market Analysis

Incidence and prevalence of most types of cancers are continuously rising along with oncological research. Surgical oncology is likely to be considered as an important type of cancer therapy, which plays an important role in cancer therapy as an effective treatment. Surgery of cancerous cell needs to treat with cold plasma for the coagulation process. More of study about cold plasma were compared, for the treatment and benefits of cold plasma in cancer treatment. The study regarding the use of cold plasma in cancer treatment it can target and kill cancer cells. The mechanism of action of cold atmospheric plasma shows that reactive oxidative species (ROS) can be the major cause of the biological effect of plasma. Due to the significant action of cold plasma in cancer treatment, it is likely to boost the growth of the cold plasma equipment market.

Cold Plasma Equipment Market Overview

Cold plasma is ionized and characterized by different active element which has various applications such as sterilization, wound healing treatment, and others. the increasing prevalence of chronic disorders, increase in healthcare industry, followed by the surge in research activities and new product launches and strategic collaborations among market players are expected to promote the market growth. North America is leading the market in terms of market share closely followed by Europe and Asia Pacific is expected to register the highest CAGR during the forecast period.

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Cold Plasma Equipment Market: Strategic Insights

Cold Plasma Equipment Market Drivers and Opportunities

Increasing Prevalence of chronic conditions to Favor Market

There has been significant increase in the prevalence of chronic conditions such as cancer, diabetes, and others. The cold plasma therapy is one of the medical treatments helps in various conditions wound healing, cancer, dermatology, atmospheric plasma on diabetes-induced enzyme glycation, oxidative stress, and inflammation, disinfection, and scar treatment. Diabetes affects many parts of the body, especially feet. Additionally, diabetic foot ulcers are sores that develop on the feet, and they can develop even from seemingly trivial injuries to the feet. Diabetic foot ulcers are a common cause of amputation due to diabetes. Across the globe, approximately every 30 seconds one leg is amputated because of diabetes. According to the report published by National institutes of Health, in 2021, the annual incidence of foot ulceration is ranges between 1.9 % to 4.0% of the diabetic population. Due to rise in use of cold plasma, in various kind of treatment, it is likely to increase the cold plasma equipment market.

Growth in the global healthcare market– An Opportunity for Cold Plasma Equipment Market

The healthcare industry has been undergoing rapid transformations during previous years. Various countries across the globe have preferred advanced technologies in healthcare. With an increase in the need for better healthcare facilities, Technology-Enabled Care (TEC) solutions are being referred to in the healthcare systems in the emerging economies. The increase in the aging population, incidences of chronic illnesses, and pediatric care are the primary factors driving the growth of the healthcare industry which in turn create demand for cold plasma equipment market.

Various players in the industry have been investing a significant amount of their revenue in research and development activities for the development of better and advanced products and technologies to be used in the healthcare industry. Also, the provisions of reimbursement for various medical procedures are expected to fuel the growth of the sector during the future period. The presence of regulations laid down by government bodies, it is possible to obtain better and reliable healthcare facilities, ensuring quality care and patient safety, mitigating fraud, and cyber threats. Therefore, all the above-mentioned factors are expected to create ample opportunities for the cold plasma equipment market.

Cold Plasma Equipment Market Report Segmentation Analysis

Key segments that contributed to the derivation of the Cold Plasma Equipment Market analysis are regime and application.

• Based on regime, the Cold Plasma Equipment Market is segmented into low-pressure cold plasma, atmospheric cold plasma. The atmospheric cold plasma segment held a larger market share in 2023.
• By application, the market is segmented into wound healing, blood coagulation, cancer treatment, dentistry, and other applications. The wound healing segment held the largest share of the market in 2023.

Cold Plasma Equipment Market Share Analysis by Geography

The geographic scope of the Cold Plasma Equipment Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

North America has dominated the Cold Plasma Equipment Market. The companies are continuously enhancing the overall business processes to meet the customers' demand for high-quality products and services in the best possible way. Several domestic and multinational companies already have a strong foothold in the North American countries like the U.S. and Canada. The rapid growth of healthcare industry in North America is expected to positively impact the demand for cold plasma equipment in the region. Furthermore, adoption of innovative methods for cancer treatment and wound healing being experimented in these countries are also likely to propel the growth of cold plasma equipment market in North America. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.  

The regional trends and factors influencing the Cold Plasma Equipment Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Cold Plasma Equipment Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Cold Plasma Equipment Market Report Scope

Cold Plasma Equipment Market Players Density: Understanding Its Impact on Business Dynamics

The Cold Plasma Equipment Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Cold Plasma Equipment Market News and Recent Developments

The Cold Plasma Equipment Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for cold plasma equipment and strategies:

• Relyon Plasma GmbH launched the Relyon Plasma Piezobrush PZ3-i in 2021 aiming to provide manufacturers in the life sciences and medical industry with a new way to automate plasma surface treatment. (Source: Intertronics, Press Release, 2022)
• neoplas tools GmbH collaborated with Japanese technology group NGK Spark Plug Co., Ltd. for the development of cold plasma technology for accelerated wound healing. (Source: neoplas med GmbH, company website, 2022)
• NGK SPARK PLUG has entered into a strategic partnership with neoplas med GmbH for the development of state-of-the-art wound healing technologies to improve the quality of life of patients worldwide. The collaboration will involve NGK investing growth capital from its Venture Capital Fund CVC, jointly operated with Pegasus Tech Ventures.

Cold Plasma Equipment Market Report Coverage and Deliverables

The “Cold Plasma Equipment Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles