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The cold plasma market size is forecast to increase by USD 2.26 billion, at a CAGR of 15.7% between 2023 and 2028. The market is poised for significant growth, driven by several key factors. Firstly, there's a surging demand for eco-friendly and sustainable technologies, positioning cold plasma as an environmentally conscious solution. Additionally, industries are increasingly prioritizing the improvement of product quality and performance through cold plasma technology, attracted by its efficacy in electronics and semiconductors applications. Moreover, the market is propelled by the escalating need for efficient surface treatment and cleaning solutions, especially in the Textile sector, where stringent hygiene standards are essential. As the focus on sustainability and product enhancement intensifies, cold plasma technology emerges as a versatile and impactful solution, catering to diverse industrial needs while aligning with global environmental goals.
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The market is advancing with innovative sustainable techniques that enhance Textile production and address food safety concerns within the food processing sector. This technology, crucial in the medicinal sector and bioengineering sector, is proving beneficial for traumatic wounds and surgical wounds. Cold plasma systems use electricity and carrier gas to target bacteria and viruses, making them valuable in the life sciences domain. Companies like Relyon Plasma and Adtec Healthcare are leading the way in integrating these systems. Despite the high capital investments required, the benefits of cold plasma in cancer treatment and other healthcare applications underscore its growing importance. The evolving regulatory climate also plays a critical role in shaping its adoption and use.
The increasing demand for eco-friendly and sustainable technologies is notably driving market growth. Industries such as food, healthcare, and textiles are looking for alternatives to traditional chemical-based processes. One such alternative is cold plasma technology, which is non-toxic, does not produce any harmful byproducts, and uses very few chemicals. The treatment may replace traditional chemical procedures such as scouring and bleaching in the textile sector. It can also be used in the food industry to remove chemical residues from food products, replace chemical disinfectants, and decontaminate surfaces. In the healthcare industry, sterilization techniques are being researched.
Factors such as consumer awareness, corporate sustainability initiatives, and governmental pressure contribute to the demand for environmentally friendly and sustainable solutions. This technology aligns with sustainability goals, which is leading to the expansion of the global market. Hence, increasing demand for eco-friendly and sustainable technologies will drive the growth of the market during the forecast period.
The increasing demand for miniaturization and portability of cold plasma equipment is a key trend in the market. The trend of creating small, portable equipment is increasing in the market. This technology should be flexible and convenient for a variety of settings and applications, such as decontamination and surface sterilization and enhanced surface activation, adherence throughout manufacturing operations, and tissue regeneration and wound healing in medical settings.
Compact and portable devices are suitable for labs, clinics, field applications, and homes, as they can be easily integrated into existing systems or equipment. For instance, portable devices are being created for use in wound healing. Such developments will create new opportunities for extending the application of this technology and make it available in various settings and industries such as electronics and textile, which, in turn, will promote market expansion during the forecast period.
High initial setup and operating costs are challenging market growth. Small and medium-sized businesses (SMEs) may find it challenging to use this technology due to the high associated costs. These systems can involve significant upfront expenditures and ongoing operational expenses, including equipment, installation, training, and maintenance.
SMEs have fewer financial resources than larger businesses, which makes it challenging for them to invest in this equipment. This makes it difficult for SMEs to use cold plasma in certain sectors. For example, SMEs in the manufacturing industry may find it difficult to incorporate these systems into their production processes due to the large upfront expenditures, which may affect their ability to compete in the market. Such factors are expected to negatively impact the market growth during the forecast period.
The market share growth by the polymer and plastic industry segment will be significant during the forecast period. The growth of this segment is attributed to factors such as increased coating and plastic adhesion, improved surface activation and cleaning, efficient elimination of impurities and pollutants, modification of surface quality, and lower environmental impact.
The polymer and plastic industry segment was valued at USD 454 million in 2018. This technology is used in the polymer and plastics sector owing to its properties such as surface activation, coating deposition, and alteration of polymer characteristics. This treatment increases polymer adhesion qualities, which leads to more effective bonding and coating procedures. It also improves product quality by enabling effective cleaning and contamination removal from plastic surfaces. In addition, this therapy helps the environment by eliminating the need for chemical cleaners and encouraging environmentally friendly manufacturing methods. companies such as Plasmatreat, Europlasma, and Nordson offer products for the polymer and plastic industries. These factors will drive the growth of the segment during the forecast period.
North America is estimated to contribute 32% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional market growth and trends and drivers that shape the market during the forecast period.
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In North America, cold plasma technology is used in various industries, such as textiles, electronics, healthcare, and others. The region has key competitors such as Tantec, Plasmatreat, and Nordson. Moreover, technological improvements such as the creation of portable and small cold-plasma devices and real-time monitoring and automated integration capabilities are fueling market growth. The demand for cold-plasma is increasing in demand in the healthcare industry for sterilization purposes. The use of this technology for cancer therapy, dental applications, and wound healing has increased its demand in the region. In addition, cold plasma technology is being used in the food packaging sector to extend the shelf life of packed goods by getting rid of dangerous bacteria. Government policies and laws are also leading to market expansion. North American regulatory authorities, such as the FDA and Health Canada, have imposed guidelines and approvals for the use of cold plasma in healthcare applications. The rising use in the healthcare, electronics, and automotive sectors is also driving the regional market's growth.
companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AcXys Technologies - The company offers cold plasma solutions such as ULS nano and ULS range. It also offers plasma equipment for surface treatment.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
AcXys Technologies, Adtec RF, Advanced Plasma Solutions, Apyx Medical Corp., CINOGY System GmbH, Coating Plasma Innovation, Enercon Industries Corp., Europlasma NV, Ferrarini and Benelli Srl, Henniker Scientific Ltd., MPG SA, Neoplas GmbH, Nordson Corp., PlasmaLeap Pty. Ltd., Plasmatreat GmbH, Tantec AS, TDK Corp., Terraplasma GmbH, UNIQAIR Technologies Ltd., and US Medical Innovations LLC
The market research and growth report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The market is expanding rapidly, particularly in infection prevention across various sectors. Key players like neoplas med GmbH, Leaflife Technology, Nova Plasma, and Henniker Plasma Treatment are innovating in PPE for healthcare settings and advancing the wound healing segment. Cold plasma technology is transforming dentistry and oncology, with applications in blood coagulation and the treatment of chronic wounds. It's also enhancing decontaminated frozen food and textile manufacturing facilities by improving deactivating pathogens. In industrial production and electronic manufacturing, cold plasma helps with polymers and materials. This technology serves as a revenue booster in the medical sector by tackling the infection curve and contributing significantly to healthcare practitioners. The market's growth is driven by its efficacy and versatility across diverse applications.
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Market Scope |
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Report Coverage |
Details |
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Page number |
159 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 15.7% |
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Market growth 2024-2028 |
USD 2.26 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
13.76 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 32% |
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Key countries |
US, China, Germany, Canada, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AcXys Technologies, Adtec RF, Advanced Plasma Solutions, Apyx Medical Corp., CINOGY System GmbH, Coating Plasma Innovation, Enercon Industries Corp., Europlasma NV, Ferrarini and Benelli Srl, Henniker Scientific Ltd., MPG SA, Neoplas GmbH, Nordson Corp., PlasmaLeap Pty. Ltd., Plasmatreat GmbH, Tantec AS, TDK Corp., Terraplasma GmbH, UNIQAIR Technologies Ltd., and US Medical Innovations LLC |
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Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for Market forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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