Medical Nitrous Oxide Market by Product (Gas, Liquid), Application (Anaesthesia, Pain, Cryosurgery, Surgical Insufflation), End User (Hospital, Home healthcare, Academic, Research Institution), Key Stakeholder & Buying Criteria - Global Forecast to 2029

Medical Nitrous Oxide Market by Product (Gas, Liquid), Application (Anaesthesia, Pain, Cryosurgery, Surgical Insufflation), End User (Hospital, Home healthcare, Academic, Research Institution), Key Stakeholder & Buying Criteria - Global Forecast to 2029

The global medical nitrous oxide market size is estimated to be USD 2.8 billion by 2029, from USD 1.8 billion in 2023, at a CAGR of 6.6%. The expansion of the medical nitrous oxide market is primarily fueled by various factors, including the increasing elderly population, advancements in healthcare infrastructure, a desire for non-invasive pain relief methods, and the existence of supportive regulations governing medical gas usage. Furthermore, the surge in surgical procedures, evident in both developed and developing nations, creates a favorable opportunity for the heightened utilization of medical nitrous oxide in anesthesia and analgesia, paving the way for additional growth prospects in the industry.

“The gasesous segment is expected to account for the largest market share in 2023.”

The medical nitrous oxide market is segmented based on product into gaseous and liquid states. As of 2023, the gaseous segment dominated the market. The prevalence of the gaseous state in the medical nitrous oxide market is attributed to its versatility in applications, particularly in anesthesia and analgesia during surgical procedures. The preference for the gaseous form in medical environments is driven by its ease of administration, precise dosage control, and rapid onset of action.

“The anesthesia and pain relief segment to register the highest growth rate in the forecast period.”

The medical nitrous oxide market, by application is segmented into anesthesia and pain relief, cryosurgery, and surgical insufflation. As of 2023, the anesthesia and pain relief segment is expected to register the highest growth during the forecast period. The dominance of anesthesia and pain relief applications in the medical nitrous oxide market is credited to their pivotal roles in both surgical and medical procedures. Nitrous oxide, celebrated for its anesthetic and analgesic properties, is widely embraced in healthcare settings due to its effectiveness in inducing conscious sedation and relieving pain during various medical interventions. This dominance is emphasized by the widespread use of nitrous oxide by healthcare professionals, as it offers swift and controllable sedation, significantly enhancing patient comfort and procedural success.

The hospital segment accounted for the largest share of the brain monitoring market in 2023.

The medical nitrous oxide market is classified by end user into hospitals, home healthcare, and academic and research institutions. As of 2023, the hospitals segment dominated the market. This is primarily due to the crucial role of nitrous oxide within hospital settings, particularly in the context of surgical and medical procedures. Hospitals, serving as central hubs for comprehensive healthcare services, extensively employ nitrous oxide for anesthesia and analgesia, offering a controlled and effective method for patient sedation during surgical interventions.

“North America to be the largest regional segment in the medical nitrous oxide market during the forecast period.”

Based on the region, the global medical nitrous oxide market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to hold the largest share of the market in 2023. The Asia Pacific region is anticipated to experience the most rapid growth during the forecast period. The significant expansion of the market in the Asia Pacific can be attributed to the dynamic growth in healthcare infrastructure, a rise in surgical procedures, and an increasing awareness of the advantages of nitrous oxide. These factors collectively contribute to an increased demand for medical nitrous oxide in the APAC region.

Breakdown of primaries

The break of primary participants was as mentioned below:

By Company Type – Tier 1–35%, Tier 2–45%, and Tier 3–20%

By Designation – C-level–35%, Director-level–25%, Others–40%

By Region – North America–45%, Europe–30%, Asia Pacific–20%, Latin America- 3%, Middle East and Africa–2%

The medical nitrous oxide market is dominated by a few globally established players such as Carbide and Chemicals (India), nexAir (US), Air Liquide (Paris), Linde plc (Ireland), Southern Gas Limited (India), Jiangsu Huazhong Gas Co., Ltd. (China), American Welding & Gas (US), Oxygen & Argon Works Ltd (Israel), Matheson Tri-Gas Inc. (US), CalOx (US), Steelman Gases Pvt. Ltd. (India), Earlbeck Gases & Technology (US), Chengdu Taiyu Industrial Gases Co., Ltd. (China), Messer SE & CO. KGAA (Germany), SOL SpA (Italy), Ellenbarrie Industrial Gases (India), Norco Inc. (US), and Gulf Cryo (UAE).

Research Coverage:

The report segments the medical nitrous oxide market based on region (Asia Pacific, Europe, North America, Latin America, and Middle East & Africa), Product (gasesous, liquid), application (anesthesia and pain relief, cryosurgery, and surgical inflation), and end user(hospitals, home healthcare, and academic and research institutions).

The report also provides a comprehensive review of market drivers, restraints, and opportunities in the medical nitrous oxide market.

Key Benefits of Buying the Report:

The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the medical nitrous oxide market and provides them with information on key market drivers, restraints, challenges, and opportunities.

Reasons to Buy the Report

The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a more significant share of the market. Firms purchasing the report could use one or any combination of the below-mentioned strategies to strengthen their position in the market.

This report provides insights into the following pointers:
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Analysis of key drivers (growing aging population, advancements in healthcare infrastructure, demand for non-invasive methods for pain relief, and supportive regulations and standards regarding the use of medical gases), restraints (safery concerns, availability of alternatives, environmental concerns), opportunities (emerging markets, pediatric applications), challenges (limited awareness, economic factors).

Market Penetration: Comprehensive information on product portfolios offered by the top players in the global medical nitrous oxide market. The report analyzes this market by products, application, and end users.

Product Enhancement/Innovation: Detailed insights on upcoming trends and product launches in the global medical nitrous oxide market

Market Development: Comprehensive information on the lucrative emerging markets by products, application, and end users.

Market Diversification: Exhaustive information about new products or product enhancements, growing geographies, recent developments, and investments in the global medical nitrous oxide market

Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, competitive leadership mapping, and capabilities of leading players in the global medical nitrous oxide market.