(Entertainment-NewsWire.com, February 20, 2021 ) In the current regulatory climate-where the focus on sustainable techniques has risen—it is expected that the benefits of cold plasma will ensure its greater adoption in the years to come. Innovations in textile production and growing food safety concerns are the major factors driving the growth of this market.
Key Factors Driving Market Growth:
This study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, key market dynamics, and key player strategies.
Revenue Growth Analysis:
The global cold plasma market size is projected to reach USD 3.4 billion by 2025 from USD 1.6 billion in 2020, at a CAGR of 16.0%.
Covid-19 Impact on the Cold Plasma Market
The cold plasma market is expected to be significantly impacted by the Covid-19 pandemic in 2020-2021. However, there could be possible disruptions in the industries such as textile, electronics & semiconductors, polymer & plastic, food & agriculture, and medical during the period of lockdown and movement restrictions imposed globally to control the virus spread and flatten the curve. Social distancing protocols and quarantine measures have reduced the demand for textiles, apparels, semiconductors & electronic appliances, large scale farming practices, and the non essential services has been put off till the post lockdown period.
The wound healing segment is projected to grow at the highest CAGR during the forecast period
Within the medical industry, the cold plasma market is segmented into wound healing, dentistry, oncology, blood coagulation, and other applications. The wound healing segment is projected to grow at the highest growth rate during the forecast period, driven by the advantages of cold plasma treatment, along with the minimal side-effects, thus making it more viable over conventional methods.
Low-pressure cold plasma to witness the highest growth during the forecast period
Based on the regime, the cold plasma market is classified broadly into atmospheric cold plasma and low-pressure plasma. The low-pressure cold plasma is estimated to hold the largest share of the market in 2019 and is also projected to grow at the highest rate during the forecast period. The large share and high growth rate of this segment can be attributed to the bactericidal activity and minimal surface ablation.
The APAC cold plasma market is expected to grow at the highest CAGR during the forecast period
The cold plasma market in the APAC is expected to grow at the highest CAGR during the forecast period. The Asia Pacific region witnessed the highest growth, which is driven by the continuous shift of electronic manufacturing to Asian countries, increasing demand for decontaminated frozen food, growing manufacturing facilities of textiles, and the rising production of polymers.