New York, March 29, 2023 (GLOBE NEWSWIRE) -- The Plasma Surgery Market was around US$ 64.5 Million in 2022, with the global market expected to grow at a CAGR of 5.4% to reach a revenue of around US$ 114.5 Million by the end of 2033. The market is driven by factors such as the increasing prevalence of chronic diseases, rising demand for minimally invasive surgeries, technological advancements in plasma surgical devices, and growing awareness about the benefits of plasma surgery.
Plasma surgery is a minimally invasive surgical technique that uses plasma energy to remove or modify tissues in the human body. Plasma is a state of matter that is created when a gas is energized to the point where some or all of its atoms are ionized, producing a collection of free electrons and ions that can be used to cut, coagulate, or vaporize tissue. The global plasma surgery market is expected to grow at a significant rate due to the increasing prevalence of chronic diseases, technological advancements, and growing awareness about minimally invasive surgeries.
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The global plasma surgery market is expected to witness significant growth during the forecast period due to the increasing prevalence of chronic diseases, rising demand for minimally invasive surgeries, and technological advancements in plasma surgical devices. North America dominates the market, while the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. The major players operating in the market are adopting various strategies to strengthen their market position and expand their product portfolio.
Plasma Surgery Market Driving Factors:
- Technological advancements: Technological advancements in the field of plasma surgery, such as the development of new devices and procedures, are expected to drive market growth. For example, the development of non-thermal plasma surgery has opened up new possibilities for minimally invasive procedures, which is driving demand for these technologies.
- Increasing demand for minimally invasive procedures: As patients become more aware of the benefits of minimally invasive procedures, the demand for these treatments is expected to rise. Plasma surgery offers several advantages over traditional surgery, including shorter recovery times, reduced scarring, and fewer complications.
- Growing prevalence of chronic diseases: The prevalence of chronic diseases such as cancer, cardiovascular disease, and diabetes is increasing, which is driving demand for plasma surgery. These procedures can be used to treat a range of conditions, including cancer, cardiovascular disease, and skin disorders.
- Cost-effectiveness: Plasma surgery is often more cost-effective than traditional surgery, which is driving demand for these procedures. This is particularly true in developing countries, where healthcare budgets are often limited.
- Lack of skilled healthcare professionals: There is a shortage of skilled healthcare professionals in many parts of the world, which is driving demand for minimally invasive procedures that can be performed by a wider range of practitioners. Plasma surgery is one such technology that can be performed by a range of healthcare professionals, including nurses and physician assistants.
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Segmentation:
The global plasma surgery market is segmented by application, type of plasma, end-user, and region. Based on application, the market is segmented into cardiology, oncology, dermatology, gastroenterology, orthopedics, and others. Based on the type of plasma, the market is segmented into helium-based plasma, argon-based plasma, and other plasma. Based on the end-user, the market is segmented into hospitals, ambulatory surgical centers, and clinics.
By Product:
- Neutral Plasma Surgery System
- Plasma Ablation Systems
- Cold Plasma Surgical Systems
By Application:
- Ablation
- Resection
- Dissection
End User
- Speciality Clinics
- Ambulatory Surgical Centers
- Hospitals
Regional Analysis:
The global plasma surgery market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America dominates the market due to the presence of a large number of key players, growing demand for minimally invasive surgeries, and rising prevalence of chronic diseases. Europe is the second-largest market due to the growing adoption of advanced technologies and increasing healthcare expenditure. The Asia-Pacific region is expected to grow at the highest CAGR during the forecast period due to the increasing population, rising healthcare expenditure, and growing awareness about plasma surgery.
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The major players operating in the global plasma surgery market are Medtronic Plc, Plasma surgical, Mechan Europe ltd, Bovie medical corporation (Apyx Medical Corporation), Nova Plasma Ltd., Royal Biologics, 4T Medical, Dutch Ophthalmic Research Center, Alfa Instruments. These players are adopting various strategies such as mergers and acquisitions, partnerships, and collaborations to strengthen their market position and expand their product portfolio.
Recent Developments:
- In July 2021, Plasma Surgical Limited announced that it had received clearance from the U.S. Food and Drug Administration (FDA) for its PlasmaJet® surgical system. The device is designed for use in a variety of surgical applications, including soft tissue dissection, coagulation, and hemostasis.
- In May 2021, a team of researchers from the University of Bristol announced that they had developed a new plasma-based surgical tool that can remove cancerous tissue without harming healthy cells. The device uses a low-temperature plasma to selectively destroy cancer cells while leaving surrounding tissue unharmed.
- In February 2021, a team of researchers from the University of Michigan announced that they had developed a new plasma-based surgical tool that can seal wounds and incisions in seconds. The device uses a plasma jet to create a seal that is stronger than traditional sutures and can help reduce the risk of infection.
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