The total value of the global cold plasma market was USD,846 million in 2022, and it will rise at a growth rate of above 14.80% in the near future, to reach USD 5,568 million by 2030, according to P&S Intelligence. This can be credited to the profits of the cold plasma technology for a count of applications, including wound remedial, and the improvements in it.
In 2022, the polymer and plastic category held the largest market share, of above 32%. This can be credited to the fact that plastic and polymer applications need solid surface adherence to get the finest mechanical functionality and extended lifespan of plastic components.
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| Cold Plasma Market Size and Share Analysis Forecast, 2030 |
Observing the flared application of this technology in the polymer and plastic market, numerous key companies have started introducing systems and devices that permit this industry to utilize it.
Atmospheric cold plasma had the larger market share of the cold plasma market, credited to its utilization in numerous applications.
For example, it has shown promising outcomes in eczema treatment. Scientists from the Institute of Plasma Physics Chinese Academy of Sciences utilized an animal prototype to validate the possibilities of this technology in the cure of eczema with no side-effect. There is no treatment for atopic dermatitis, in simple words eczema, to date; it can be only managed with appropriate care.
In the coming few years, the wound healing category is projected to witness the highest revenue CAGR, of 15.4%. This is due to scientists having been utilizing cold plasma to accelerate the curing of exterior wounds for some time now. This method depends on making a high-voltage drop between a special device called the plasmodesma and the skin.
In 2022, North America dominated the market with the largest market share, 44%, it is projected to advance with a significant CAGR in the coming few years. This is mainly because of the surge in healthcare spending and Research and development activities.
For example, in March 2022, Jerome Canady Research Institute for Advanced Biological and Technological Sciences (JCRI-ABTS) issued a report on how a blend of the Canady Helios cold plasma and anti-BCL2A1 treatments might be helpful for patients suffering from breast cancer and other solid tumors.
Furthermore, the U.S. government has augmented its budget for cancer research. The Consolidated Appropriations Act, of 2023 has assigned USD 7.2 billion to the NCI, which was a USD 408 million rise over the FY 2022 funding, with USD 216 million for the characteristics of the Cancer Moonshot program being supervised by the NCI.
Hence, the profits of the cold plasma technology for a count of applications, including wound remedial, and the improvements in it, are the major factors driving the cold plasma market.
