Chemicals

5 Key Takeaways From The Cold Plasma Market Report 2024

January 17, 2024 by The Business Research Company

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Cold Plasma Global Market Report 2024, the cold plasma market is expected to show significant growth in the forecast period.

The cold plasma market has witnessed rapid growth in recent years, surging from $2.73 billion in 2023 to an anticipated $3.17 billion in 2024, with an impressive compound annual growth rate (CAGR) of 16.5%. This growth is underpinned by various factors, including its rising adoption in medical and industrial applications, growth in the food and aviation sectors, and the exploration of emerging markets.

Future Growth Prospects:

The cold plasma market is poised for further expansion, with a projected growth to $5.96 billion in 2028, driven by a robust CAGR of 17.1%. The forecasted surge is attributed to the increasing demand for water and air purification, the growing electronics industry, rising research and development activities, and strong government support.

Rising Adoption Of Cold Plasma Technology To Drive Market Growth

Versatile Applications:

The increasing utilization of cold plasma technology across various industries is a significant driver for market growth. It finds applications in medical and industrial sectors, playing a pivotal role in healthcare devices, diagnostics, and even as a potential treatment for the ongoing COVID-19 pandemic.

Healthcare Advancements:

Cold plasma therapy is gaining prominence as a treatment for drug-resistant bacteria and chronic wounds. With the global geriatric population expected to reach 2.1 billion by 2050, there is a growing need for solutions in treating chronic wounds, such as foot ulcers, further boosting the cold plasma market.

Technological Advancements Redefine The Cold Plasma Market

Innovative Solutions:

Technological advancements are at the forefront of cold plasma market trends. Notably, Nordson Corporation introduced the MARCH MegaVIATM Plasma Treatment System, revolutionizing printed circuit board manufacturing with improved panel loading and plasma treatment uniformity.

Strategic Partnerships:

In June 2022, neoplas med GmbH and Niterra Co., Ltd. joined forces for a breakthrough in wound healing innovation. Their collaboration focuses on neoplas med’s kINPen MED plasma jet treatment, showcasing a remarkable 59% success rate in accelerating wound healing for diabetic foot syndrome patients within six weeks.

Market Segmentation and Regional Dominance

Segmentation Overview:

The cold plasma market is segmented based on regime (Atmospheric Cold Plasma, Low-Pressure Cold Plasma), technology (Remote Treatment, Direct Treatment, Electrode Contact), application (Wound Healing, Blood Coagulation, Dentistry, Cancer Treatment, Other Medical Applications), and end-use sector (Automotive, Electronics & Semiconductors, Food Processing & Packaging, Medical, Aerospace, Polymers & Plastics, Other End-User Sectors).

Regional Dynamics:

Asia-Pacific claimed the largest share in the cold plasma market in 2023, showcasing its dominance. However, North America is expected to be the fastest-growing region in the forecast period, pointing to the region’s potential in driving market expansion.

View More On The Cold Plasma Market Report 2024 – https://www.thebusinessresearchcompany.com/report/cold-plasma-global-market-report

Request A Sample Of The Global Cold Plasma Market Report 2024:

https://www.thebusinessresearchcompany.com/sample_request?id=5789&type=smp

The Cold Plasma Global Market Report 2024 provides an in-depth analysis on the cold plasma market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the cold plasma market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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