The Cold Plasma in Healthcare Market is expected to register a CAGR of 12.5% during the forecast period. The market is expected to show good growth due to the benefits associated with cold plasma techniques and the increasing use of cold plasma in wound healing.
With the rising COVID-19 patients, plasma therapy has shown positive results for coronavirus treatment. Cold plasma treatment is also being touted as an effective remedy against the ongoing COVID-19 pandemic. The demand for plasma therapy is thus increasing due to their potential use in the Coronavirus treatment. The countries such as the US, China, Turkey, Spain, and the United Kingdom, are some of the few countries that are also looking at plasma therapy to more easily address the worldwide COVID-19 crisis. Even in India, it was found that in Delhi, a hospital has successfully cured a COVID-19 patient using plasma therapy. The patients were thus found with increased respiratory rate and oxygen saturation level.
The field of cold plasma in medicine is thus growing quickly as cold plasma has the ability to kill bacteria and prevent infections, it has thus been proven to be successful in treating burns.
According to the Canadian Cancer Society, an estimated 27,400 women were diagnosed with breast cancer in the country in 2020. This represents 25% of all new cancer cases in women by 2020, with 5,100 women dying from breast cancer. Gas plasmas, or ionised gases, have many developing applications in cancer treatment and hence as the cancer cases increase the market is likely to grow shortly.
Also, cold plasma is effectively combined with chemotherapy in cancer treatment and thus promotes wound sterilization, blood coagulation, and cell proliferation in wound healing. Its use allows for effective medical treatment of cancer and various skin injuries and diseases.
It has also been found that recently, cold plasma was also used in Germany in limited preliminary trials as palliative therapy for head and neck cancer patients. Therefore, the rising number of application of cold plasma in wound healing, cancer treatment and infective diseases is augmenting the growth of the market studied.
Key Market Trends
- Wound Healing Segment is Expected to Hold a Significant Market Share in the Cold Plasma in Healthcare Market
The wound healing segment is expected to hold a high market share as cold plasma has the ability to kill bacteria, including drug-resistant bacteria, to prevent further infection rate and thus helps in treating chronic wounds. It is also found boosting the wound healing process and thus eliminates further complications.
With the rising COVID-19, the demand for cold plasma is found to increase. The basis for this development is provided by Plasma Care that is a CE-mark approved medical device that generates cold atmospheric plasma that was found to be developed for the mobile treatment of acute and chronic wounds.
According to the World Health Organization 2020, there are more than 1.35 million people that die every year as a result of road traffic crashes and accidents. Road traffic injuries are the leading cause of death among people that are aged between 15 and 29 years. Every year the lives of more than 1.35 million people are cut short as a result of the road traffic crash. Therefore since there are a large number of trauma and wound management cases observed yearly the adoption rate of cold plasma is expected to be high for wound healing across the hospitals and healthcare facilities.
Moreover, as per Germany Federal Statistical Office 2020 report, currently, there are about 83 million population in Germany of these 16.2 million population are above 67 years of age and it is projected to reach 21.4 million by 2040. With the increase in the geriatric population, there is an increasing number diabetic population which results in chronic wounds such as foot ulcers and thus boosts the overall market.
Although many other treatment procedures are present for wound healing, cold plasma treatment is anticipated to be one of the effective ways that help to drive the overall segment further.
- North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America has found to dominate the cold plasma market owing to the presence of key industry participants and the availability of various FDA-approved products. There has been a rising adoption of technologically advanced products that also fuel the market growth.
With the rising COVID-19, the demand for plasma therapy is found increasing. Based on the recent 2020 study, UCLA engineers and scientists have demonstrated that treatments with near-room-temperature, cold atmospheric plasma can kill the coronavirus present on a variety of surfaces. The study published in the journal Physics of Fluids marks the first time cold plasma has been shown to effectively and quickly disinfect surfaces contaminated with the SARS-CoV-2 virus that causes COVID-19. The potential of cold atmospheric plasma is an as safe and effective way to fight transmission of the virus by killing it on a wide range of surfaces.
According to Breast Cancer.org statistics, breast cancer most commonly occurs among women in North America. As of January 2020, around 3.5 million women have a history of breast cancer in the United States. Also, breast cancer is the most diagnosed cancer in the women of the United States. It is also estimated that around 30% of newly diagnosed cancers in women are breast cancers. In addition to the source mentioned above, an estimated 276,480 cases of invasive breast cancer and approximately 48,530 new carcinoma cases in situ (CIS) are expected to be diagnosed in 2020. Moreover, the average risk of a woman in the United States developing breast cancer in her life is about 13%. Therefore with the increasing prevalence of cancer and chronic wounds the market is expected to grow.
In addition, the Asia-Pacific market is expected to register a high growth primarily due to the growing demand for cold plasma technology and also a majority of global companies are focusing on developing and expanding their R&D capabilities and distribution networks in this region. Rise in disposable income levels and growing target population base are also likely to contribute to overall market growth.
The cold plasma in the healthcare market is consolidated competitive. Some of the key companies in the global cold plasma market are U.S. Medical Innovations, LLC, Bovie Medical Corporation, Neoplas Tools GmbH, Europlasma N.V., and P2i Limited. The key players involved in market expansion, analyze competitive developments (such as partnerships, agreements, collaborations, alliances, mergers & acquisitions, new product developments, geographical expansions, and R&D activities) and strategically profiles the key players and comprehensively analyzes their core competencies in the cold plasma market.
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TABLE OF CONTENTS
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.2.1 Environment-friendliness and Other Benefits of Cold Plasma Techniques
- 4.2.2 Increasing Use of Cold Plasma in Wound Healing
- 4.3 Market Restraints
- 4.3.1 Lack of Awareness about Cold Plasma Technology in the Healthcare Industry
- 4.3.2 Stringent Regulatory Policies
- 4.4 Porter's Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 By Application
- 5.1.1 Wound Healing
- 5.1.2 Blood Coagulation
- 5.1.3 Dentistry
- 5.1.4 Cancer Treatment
- 5.1.5 Other Medical Applications
- 5.2 By Regime
- 5.2.1 Low-pressure Cold Plasma
- 5.2.2 Atmospheric Cold Plasma
- 5.3 Geography
- 5.3.1 North America
- 184.108.40.206 United States
- 220.127.116.11 Canada
- 18.104.22.168 Mexico
- 5.3.2 Europe
- 22.214.171.124 Germany
- 126.96.36.199 United Kingdom
- 188.8.131.52 France
- 184.108.40.206 Italy
- 220.127.116.11 Spain
- 18.104.22.168 Rest of Europe
- 5.3.3 Asia-Pacific
- 22.214.171.124 China
- 126.96.36.199 Japan
- 188.8.131.52 India
- 184.108.40.206 Australia
- 220.127.116.11 South Korea
- 18.104.22.168 Rest of Asia-Pacific
- 5.3.4 Middle East and Africa
- 22.214.171.124 GCC
- 126.96.36.199 South Africa
- 188.8.131.52 Rest of Middle East and Africa
- 5.3.5 South America
- 184.108.40.206 Brazil
- 220.127.116.11 Argentina
- 18.104.22.168 Rest of South America
6 COMPETITIVE LANDSCAPE
- 6.1 Company Profiles
- 6.1.1 ADTEC Plasma Technology Co. Ltd
- 6.1.2 Wacker Chemie AG
- 6.1.3 Europlasma NV
- 6.1.4 Neoplas med GmbH
- 6.1.5 Nordson Corporation
- 6.1.6 P2I Limited
- 6.1.7 Plasmatreat GmbH
- 6.1.8 Tantec A/S
- 6.1.9 U.S. Medical Innovations
- 6.1.10 Enercon Industries Corporation
- 6.1.11 terraplasma medical GmbH
- 6.1.12 VETAPHONE A/S
- 6.1.13 TOMI Environmental Solutions, Inc
7 MARKET OPPORTUNITIES AND FUTURE TRENDS