How To Improve At North America Cold Plasma Market

The North America cold plasma market is estimated to grow with a CAGR of 15.45% during the forecast period, reaching USD YY million in 2029, from its recorded value of USD YY million in 2021.

In North America, the U.S. is expected to represent the highest growth of 15.45% during the forecast period. In the U.S., rising food safety concerns and the growing usage of cold plasma in the medical industry are the primary factors driving the market growth. 

Cold plasma is used in many medical treatments such as atmospheric plasma on diabetes-induced enzyme glycation, oxidative stress, inflammation, disinfection, wound healing, cancer, dermatology, and scar treatment. 

Increasing cases of diabetes, wound, and other inflammation, is growing on the market. According to the International Diabetes Federation (IDF), there were approximately 46 million diabetics in North America in 2017, with that figure predicted to increase to 62 million by 2045. During the forecast period, disease prevalence is expected to rise by about 35%.

Furthermore, according to statistics from Breast Cancer.org, breast cancer is most prevalent among women in North America. In the United States, nearly 3.5 million women have a history of breast cancer as of January 2020. Breast cancer is also the most commonly diagnosed cancer in American women. Breast cancer is estimated to account for about 30% of newly diagnosed cancers in women. A total of 276,480 cases of invasive breast cancer and approximately 48,530 new carcinoma cases in situ (CIS) are predicted to be diagnosed in 2020.

Furthermore, a woman's lifetime risk of developing breast cancer in the United States is about 13%. Therefore with the increasing prevalence of cancer, diabetes, and chronic wounds, the market for cold plasma in the country is expected to grow. 

On the other hand, the cold plasma market in Canada is expected to grow with a CAGR of 13.4% during the forecast period, reaching USD 273.10 million in 2027, from its recorded value of USD 101.12 million in 2019. The increasing usage of cold plasma in the medical industry and electronics industry is expected to drive market growth in the country.

According to the Canadian Diabetes Association, 80 percent of people with diabetes will die as a result of heart disease or stroke, and diabetes is a contributing factor in the death of about 41,500 Canadians each year. This is expected to drive the demand for cold plasma as it is used in wound healing.

Moreover, the Canadian consumer electronics industry experienced growth and grabbed new opportunities in the key product category, as Canadians value new product innovations. The factor driving the growth of this industry is the improved network connectivity in the country. ​ The compaction in consumer electronics in the country is driven by product innovations, with a wide range of features. With this, the demand for and production of semiconductors are also expected to increase in the country, which further drives the demand for cold plasma as there is a growing preference for cold plasma in semiconductors. Mexico contributed the least market revenue share of 3% in the year 2019. Mexico's cold plasma market is likely to reach USD YY million in 2029, from its recorded value of USD YY million in 2021.

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