Cold Plasma Market Size, Share & Trends Analysis Report By Pressure, By Application (Wound Healing, Blood Coagulation, Dentistry, Cancer Treatment, Other Medical Applications), By Region, And Segment Forecasts, 2024 - 2030

Cold Plasma Market Size & Trends

The global cold plasma market size was valued at USD 128.9 million in 2023 and is projected to grow at a CAGR of 15.8% from 2024 to 2030. This growth is attributed to the overall development of the healthcare industry, which has increased the demand for advanced technologies to enhance patient treatment procedures and make them safe and non-invasive. In addition, cold plasma technology enhances applications such as cancer treatment, sterilization, and wound healing, driving the market's growth significantly.

Cold plasma, also known as non-equilibrium plasma, is a partially ionized gas in which the temperatures of its constituents differ significantly. It is generated by supplying energy to gases, creating reactive species useful in various applications, including medical treatments, sterilization, and food safety, without the harmful effects of high-temperature plasmas.

According to research by the University of Michigan, cold plasma is the most effective solution for removing dangerous airborne viruses. Non-thermal plasma can remove up to 99% of the virus in fractions of seconds. This creates opportunities for doctors to treat patients with breathing problems using cold plasma technologies.

Increasing applications across various industries, including textiles, food safety, and medical sectors, significantly contribute to market growth. In addition, the rising demand for sustainable and efficient processing technologies, alongside innovations in food decontamination and medical treatments, further fuels this growth. Furthermore, the market is supported by advancements in atmospheric cold plasma technology, which offers eco-friendly solutions without harmful chemicals, enhancing its attractiveness to diverse industries.

Pressure Insights

The atomic pressure product segment led the market and accounted for the largest revenue share of 65.5% in 2023. This growth is attributed to the heavy utilization of atmospheric pressure cold plasma technology in various applications such as electronics, manufacturing, health care, etc. This technology is also known for its environment-friendly characteristics, sustainability, and safety, which make it better than its alternatives. This, in turn, is expected to drive the segment’s growth.

Low-pressure segments are expected to grow at a CAGR of 15.6% over the projected years. This growth is driven by the enhanced removal of pathogens and bacteria, which can be utilized to stop infections by sterilizing surfaces and medical equipment. In addition, supportive regulatory bodies are adopting this segment to reduce hospital-acquired infections (HAIs), thereby fueling the segment’s growth.

Application Insights

The wound healing application segment dominated the market and accounted for the largest revenue share of 31.0% in 2023. This growth is attributed to the development in wound healing effects in patients due to the usage of this technology, which includes faster tissue generation, reduced infection risks, and better overall outcomes. Furthermore, the market is also expected to be driven by the rise in the geriatric population in several regions.

The cancer treatment applications segment is expected to grow at a CAGR of 17% over the forecast years. This growth is attributed to the rising cases of chronic diseases worldwide. Furthermore, cold plasma technology plays a vital role in cancer treatment, killing cancer cells while maintaining healthy tissue safety and reducing local recurrences, driving the market's growth significantly.

Regional Insights

The North America cold plasma market dominated the global market and accounted for the largest revenue share of 41.3% in 2023. This growth is attributed to technological advancements in the industry's products and innovations. In addition, rising healthcare expenditures and the growing prevalence of chronic conditions necessitate effective sterilization and treatment methods, enhancing cold plasma's appeal. Furthermore, strategic collaborations between industry players in the region further drive the market's growth.

U.S. Cold Plasma Market Trends

The cold plasma market in the U.S. dominated the North American market with the largest revenue share of 81.4% in 2023, owing to government initiatives to promote the technology, rising environmental concerns about this technology as a solution, and increased competition in the local market. In addition, growing applications in the medical and electronics industries further drive the country's market growth.

Mexico cold plasma market is expected to grow at a CAGR of 17.4% from 2024 to 2030, owing to the heavy usage of these technologies in sterilizing materials for electronic devices, enhancing the packing process, and assisting in decontaminating food products.

Asia Pacific Cold Plasma Market Trends

The cold plasma market in Asia Pacific is expected to grow at a CAGR of 16.8% over the forecast years. This growth is attributed to the rise of the region's electronic device manufacturing and polymer production. In addition, the increasing demand for decontaminated frozen food and the growing geriatric population that needs wound healing treatment further contribute to the market’s growth.

China cold plasma market held a substantial revenue share in 2023 owing to rising electronic, semiconductor, and healthcare industry growth, which increased the demand for cold plasma technology. The technology is also heavily utilized in decontaminating food products, sterilizing, and other applications.

Europe Cold Plasma Market Trends

The cold plasma market in Europe is expected to grow substantially over the forecast years owing to consumers' increasing demand for decontaminated frozen food. This will, in turn, increase the market for the product and the heavy utilization of these technologies in textile industries. In addition, emphasizing sustainable production methods in textiles and food safety concerns further enhances market growth. Furthermore, support from the European Union for research and development also fosters innovation in cold plasma technologies, thereby driving the market’s growth in the region.

The UK cold plasma market is expected to witness significant growth over the projected years owing to increasing R&D on cold plasma technologies, which led to enhanced products in the market. Furthermore, emphasizing sustainable production methods in textiles and food safety concerns further enhances market adoption. Support from the UK government for research and development also fosters innovation in cold plasma technologies.

Key Cold Plasma Company Insights

Some of the key companies in the Cold Plasma market include Adtec Healthcare Limited, US Medical Innovations, CINOGY System GmbH, and many others. Organizations focus on increasing their customer base to gain a competitive edge in the industry. Therefore, key players are taking several strategic initiatives, such as mergers and acquisitions and partnerships with other major companies. 

Recent Developments

• In February 2024, Adtec Healthcare visited Taiwan to advance its SteriPlas expansion project, focusing on enhancing cold plasma technology for sterilization applications. This initiative aims to strengthen Adtec's presence in the Asian market, addressing the growing demand for innovative healthcare solutions. The expansion reflects the company's commitment to improving healthcare standards through advanced sterilization techniques and technology partnerships.

• In September 2023, Researchers at IIT Jodhpur created the Novel Cold-Plasma Detergent in Environment (CODE) device, designed to enhance indoor air quality by deactivating over 99.99% of harmful pathogens. This technology addresses significant air pollution concerns, particularly in indoor environments. The CODE device, which utilizes non-equilibrium cold plasma and nanotechnology, aims to reduce airborne infections and is set for commercial release soon.

Cold Plasma Market Report Scope

Global Cold Plasma Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and analyzes the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global cold plasma market report based on pressure, application, and region.

• Pressure Outlook (Revenue, USD Million, 2018 - 2030)

  • Low-Pressure Cold Plasma

  • Atmospheric Pressure Cold Plasma

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Wound Healing

  • Blood Coagulation

  • Dentistry

  • Cancer Treatment

  • Other Medical Applications

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Australia

    • Thailand

  • Latin America

    • Brazil

    • Argentina

  • Middle East and Africa (MEA)

    • Saudi Arabia

    • UAE

    • South Africa

    • Kuwait