The cold plasma equipment market in Asia Pacific is anticipated to reach US$ 50.04 million by 2027 from US$ 14.20 million in 2019; it is projected to grow at a CAGR of 17.1% from 2020 to 2027.
The growth of the cold plasma equipment market in Asia Pacific is primarily ascribed to the increasing use of cold plasma in therapeutics, growing incidence of hospital acquired infections (HAIs), and development of innovative methods for treatment of cancer. However, the adverse effects of cold plasma, and lack of reimbursement policies are among the prime factors hindering the growth of the market in this region. On the other hand, growing R&D expenditure in the healthcare sector in Asia Pacific countries is expected to have a positive impact on the market growth in the coming years.
Cold plasma is also called as nonthermal plasma and is used in a wide range of applications in various industries, including medical and biomedical. It is a powerful technique that is used to confer antimicrobial treatment for wounds and injuries. The cold plasma equipment offers nonthermal treatment option in cancer therapy, dentistry, dermatology, etc. Atmospheric plasma is used to treat diabetes-induced enzyme glycation, oxidative stress, inflammation, disinfection, and scars. The ability of cold plasma to kill drug-resistant bacteria, to avoid further infection, helps in healing chronic wounds, followed by enabling protection against further complications and related discomforts. Plasma sources used in therapeutics are typically "low-temperature" sources that are operated at atmospheric pressure. In this context, low temperature refers to temperatures similar to room temperature, usually slightly above.
Atmospheric cold plasma equipment accounted for 9.18% and held the largest share of the cold plasma equipment market in Asia Pacific in 2019. Atmospheric cold plasma gives the possibly highest plasma density. It is a unique, nonthermal glow discharge plasma operating system at atmospheric pressure. It can also be used for treating viable tissues and thus has become a focus of medical research over the past years. Atmospheric cold plasma devices have been differently developed and tested for medical research purposes. The segment is further estimated to mark the highest CAGR in the market during the forecast period.
In 2019, the wound healing segment held the largest share of the Asia Pacific cold plasma equipment market, by application. This segment is also anticipated to hold the largest portion of the market by 2027, owing to the need for improved treatment options for patients suffering from chronic, non-healing wounds. The segment is also anticipated to witness a significant CAGR in the market during the forecast period.
A few of the significant secondary sources referred to while preparing the cold plasma equipment market report are World Health Organization (WHO), Food and Drug Administration (FDA), and Centers for Disease Control and Prevention (CDC).