The key players believe the rise in textile production and growing food safety concerns to be the major driving factors for the cold plasma market in the following years. The global cold plasma market is projected to exhibit a robust 16% CAGR through 2025 owing to the increase in demand for industrial uses. The major companies are focusing on innovations and research and development to attain a competitive edge over other players.
- 1 Why is the cold plasma technology adopted by the medical industry?
- 2 What are the major causes of growth of the cold plasma market?
- 3 What are some other drivers of the global cold plasma market?
- 4 What are the challenges faced by the cold plasma market?
- 5 What is the impact of COVID-19 on the cold plasma market?
- 6 What is the current competitive landscape in the cold plasma market?
Why is the cold plasma technology adopted by the medical industry?
The cold plasma prevents contagious and infectious diseases by removing harmful microbes and pathogens. This makes cold plasma popular and highly demanded in the medical industry. It is used by several protective clothing and textile industries to manufacture microbe-free gloves and PPE kits. The was a rapid rise in the demand of cold plasma during the COVID-19 pandemic owing to the increase in sale of gloves and other protective clothes. These industries are investing in the cold plasma market to enhance technology and create better opportunities.
What are the major causes of growth of the cold plasma market?
The recent years have witnessed a rapid rise in the demand of cold plasma by several industries owing to their beneficial properties. They have low water and energy consumption, low flammability, easy-to-operate and cost-efficient as well. In addition to this, they do not require storage of chemicals in the workshop for production nor do they need large amounts of water. These factors encourage companies and businesses to adopt cold plasma techniques. This will be the key driver for the global cold plasma market in the forecasted period.
What are some other drivers of the global cold plasma market?
Cold plasma is widely used in wound-healing treatment as it is highly effective and has minimal side effects. Major companies are investing on research and development (R&D) to create efficient products in the medical industry. This will be a major cause for the growth of the cold plasma market in the forecasted period.
The global cold plasma market is dominated by the low-pressure plasma holding the maximum share in terms of revenue and products. The market for low-pressure plasma is expected to rise even further owing to the increase in innovations in the bactericidal activities and least surface ablation.
What are the challenges faced by the cold plasma market?
The research and development by different companies to innovate and create latest technologies require a substantial investment of time and money. The equipment necessary for the operations along with the execution is an expensive process which discourages many investors and businesses from entering the market.
The cold plasma market consists of a limited number of players who dominate the market. Due to this, there has been limited commercialization in the cold plasma sector. As a result, there are very less producers in the market and new businesses are not motivated enough to adopt the cold plasma technology. These are the major challenges posed to the global cold plasma market.
What is the impact of COVID-19 on the cold plasma market?
The COVID-19 has caused severe damage to the global cold plasma market. Due to the pandemic, there was a complete shutdown of all the manufacturing
units and workshops as regulated by the government. The lack of production and sale affected several industries like textile, electric, food and agriculture, plastic and polymers, and pharmaceutical. There was no demand for the products during the pandemic period and the supply of goods was obstructed since the government abolished sale of non-essential goods during the lockdown. But the market for cold plasma is expected to recover from the damages incurred during the pandemic.
What is the current competitive landscape in the cold plasma market?
The key players are focusing on enhancing technology and extensive research and development to create effective products and gain a competitive edge over other companies. Many businesses have invested in various industries in the market to promote innovation.
Some of the major companies in the market are Apyx Medical Corporation (US), Nordson Corporation (US), Adtec Plasma Technology Co. Ltd (Japan), P2i (UK), Relyon Plasma GmbH (Germany), Henniker Plasma (UK), Enercon Industries (US), AcXys Plasma Technologies (France), Plasmatreat (Germany), Tantec A/S (Denmark), Europlasma (Belgium), Thierry Corporation (Germany), Surfx Technologies, LLC (US), SOFTAL Corona & Plasma (Germany), Coating Plasma Innovation (France), Ferrarini & Benelli (Italy), Neoplas GmbH (Germany), terraplasma GmbH (Germany), Molecular Plasma Group (Germany), CINOGY GmbH (Germany), Advanced Plasma Solutions (US), UNIQAIR Technologies (US), PlasmaLeap Technologies (Australia), US Medical Innovations (US), and COMET Plasma Control Technologies (US).
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Conclusion The global market for cold plasma is expected to show growth and development in the forecasted period owing to the increase in adoption by various industries and rise in innovation and research. The numerous benefits of cold plasma with minimal side effects make them popular across several regions