Cold Plasma Market Size, Share, Growth, Trends, and Global Industry Analysis: By Regime (Low Pressure Cold Plasma, Atmospheric Cold Plasma), By Application (Cleaning & Activation, Coating, Decontamination, Sterilization, Blood Coagulation,  Cancer Treatment and Others), By End User (Food Industry, Medical Industry, Textile industry, Electronics & Semiconductor Industry and others) and Region 

Cold Plasma Market size was valued at US$ 2,484.3 Million in 2022 and is anticipated to grow at a significant CAGR of 16.1% over 2023-2029. Cold plasma, also known as non-thermal plasma, refers to a partially ionized gas state where a portion of the gas molecules are ionized or excited, but the overall temperature of the gas remains relatively low. Unlike traditional plasma, which is typically associated with high temperatures in applications like fusion reactors or stars, cold plasma operates at or near room temperature, making it suitable for various industrial, medical, and scientific applications. Healthcare and medical applications play a pivotal role in driving revenues within the cold plasma market, capitalizing on the technology's potential to revolutionize medical treatments and hygiene practices. The antimicrobial properties of cold plasma make it a powerful tool for disinfection and infection control in healthcare settings, addressing concerns over healthcare-associated infections. Moreover, cold plasma's unique ability to accelerate wound healing, tissue regeneration, and even selectively target cancer cells opens up new avenues for advanced therapies.

The technology's potential in dentistry, blood coagulation, chronic disease management, and point-of-care diagnostics further expands its reach. In addition, the rising food industry is a driving force behind the increased sales of cold plasma technology, as it offers a game-changing solution to enhance food safety, extend shelf life, and improve overall food quality. Cold plasma's unique ability to effectively eliminate pathogens, such as bacteria and viruses, from food surfaces without compromising its nutritional value or taste makes it an attractive technology for the food industry. However, Cold plasma systems can involve significant upfront costs for equipment, installation, and maintenance. While the benefits might justify the investment, initial costs could deter smaller businesses or industries with limited budgets. Meanwhile, cold plasma has the potential for seed sterilization, pest control, and plant growth stimulation, creating opportunities for sustainable agriculture practices and improved crop yields, ultimately leading to market expansion. Key market players are announcing innovative launches, acquisitions, and strategic partnerships to further contribute to the market growth. For instance, In November 2020, George Washington University (GW) signed a $3.2 million research agreement with US Patent Innovations, LLC (USPI) to develop adaptive cold plasma devices for cancer treatment.

Cold Plasma Market Key Developments:        

• In July 2023, NexPlasmaGen Inc. successfully secured $795,000 in private and public investment from various sources, including individuals, Aligo Innovation, the Quebec MEDTEQ program, and federal MITACS and CNRC-IRAP programs. This funding will drive the advancement of their patented cold plasma technology, the APGDT, to enhance radiotherapy as a breast cancer treatment adjuvant.
• In October 2021, Plasmacure's PLASOMA cold plasma system for chronic wound treatment receives funding from a consortium including Topfonds Gelderland, NextGen Ventures, European Innovation Council (EIC) Fund, and Credenti B.V. This funding supports clinical studies and international product sales.