Global Medical Nitrous Oxide Market Size To Worth USD 3.29 Billion By 2033 | CAGR of 6.52%
Category: HealthcareGlobal Medical Nitrous Oxide Market Size To Worth USD 3.29 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Medical Nitrous Oxide Market Size is Expected to Grow from USD 1.75 Billion in 2023 to USD 3.29 Billion by 2033, at a CAGR of 6.52% during the forecast period 2023-2033.
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Browse key industry insights spread across 244 pages with 94 Market data tables and figures & charts from the report on the "Global Medical Nitrous Oxide Market Size, Share, and COVID-19 Impact Analysis, By Product (Liquid Nitrous Oxide and Gaseous Nitrous Oxide), By Application (Pain Relief, Cryosurgery, Surgical Insufflation, and Anesthesia), By End-User (Home Healthcare, Research Institutions, Hospital, and Academics), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/medical-nitrous-oxide-market
The medical nitrous oxide market is a growing industry that manufactures, distributes, and uses nitrous oxide for its anesthetic and analgesic properties. Nitrous oxide, produced by heating ammonium nitrate, is the least potent inhalational anesthetic and is used for general anesthesia, procedural sedation, dental anesthesia, and treating severe pain. The growing need for nitrous oxide to relieve pain associated with chronic diseases is driving its growth. Chronic diseases significantly affect India's geriatric population, with 68% caused by diabetes and hypertension. The Chronic Disease Unit at Columbia University aims to reduce the chronic disease burden and improve health span. Nitrous oxide is widely used in hospital operations due to its lower solubility and faster anesthetic activity. The demand for nitrous oxide as an anesthetic in minimally invasive surgical procedures, such as endoscopy and laparoscopy, is increasing due to its effectiveness in reducing healing, improving cosmetic results, and preventing pain. The market is expected to grow further due to its positive impact on the healthcare sector. However, a lack of awareness among healthcare professionals impedes the market growth.
The gaseous nitrous oxide segment held the largest share in 2023 and is predicted to grow at a remarkable CAGR during the projected period.
Based on the product, the global medical nitrous oxide market is categorized as liquid nitrous oxide and gaseous nitrous oxide. Among these, the gaseous nitrous oxide segment held the largest share in 2023 and is predicted to grow at a remarkable CAGR during the projected period. This segment's dominance is owing to its minimal adverse effects, rapid pain relief, effective sedation, patient compliance, adaptability, accurate dosing, ease of administration, and widespread use in dental and surgical procedures.
The anesthesia segment accounted for the highest share in 2023 and is anticipated to grow at a significant CAGR throughout the projected timeframe.
Based on the application, the global medical nitrous oxide market is categorized as pain relief, cryosurgery, surgical insufflation, and anesthesia. Among these, the anesthesia segment accounted for the highest share in 2023 and is anticipated to grow at a significant CAGR throughout the projected timeframe. The segment's growth is driven by the increasing demand for nitrous oxide in emergencies, dental surgeries, and neuropathic pain relief, as well as the availability of various delivery systems for ingestion before surgeries.
The home healthcare segment dominated the global medical nitrous oxide in 2023 and is expected to grow at a substantial CAGR throughout the predicted timeframe.
Based on the end-user, the global medical nitrous oxide market is categorized as home healthcare, research institutions, hospital, and academics. Among these, the home healthcare segment dominated the global medical nitrous oxide in 2023 and is expected to grow at a substantial CAGR throughout the predicted timeframe. The demand for home-based healthcare services is increasing due to evolving healthcare structures and the growing need for medical nitrous gas for pain management and specific procedures, highlighting the simplicity, adaptability, and individualized approach of home healthcare.
North America is expected to hold the greatest share of the global medical nitrous oxide market over the forecast period.
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North America is expected to hold the greatest share of the global medical nitrous oxide market over the forecast period. North America's medical nitrous oxide market is significantly driven by advanced healthcare infrastructure, persistent market demand, and major players. Technological innovations, including patient and anesthetic monitoring systems, and the development of safe and effective administration methods contribute to the region's market dominance, shaping trends and dynamics.
Asia Pacific is predicted to hold the fastest-growing region of the global medical nitrous oxide market throughout the estimated period. Nitrous oxide's adaptability in medical sectors, increased awareness of its benefits, innovations in healthcare infrastructure, sophisticated equipment for surgical procedures, increasing surgical procedures, robust manufacturing plants and storage capacity in China, and rising hospital investments in advanced instrument development contribute to its success.
Major key players in the global medical nitrous oxide market are Air Liquide, SOL SpA, Southern Gas Limited, Carbide and Chemicals, Steelman Gases Pvt. Ltd., Norco Inc., CalOx, Oxygen and Argon Works Ltd., Ellenbarrie Industrial Gases, Gulf Cryo, Matheson Tri-Gas Inc., and others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In February 2024, Veolia launched the first processing lines for nitrous oxide canisters in the UK. Veolia has developed a system to process items safely, aiming to reduce greenhouse gas emissions. The system captures gas from canisters, separates nitrogen and oxygen components, and safely vents the gases before recycling them. The canisters are sourced from commercial waste collections, street cleaning, and illegal store seizures. The system has a warming power nearly 300 times that of carbon dioxide.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global medical nitrous oxide market based on the below-mentioned segments:
Global Medical Nitrous Oxide Market, By Product
- Liquid Nitrous Oxide
- Gaseous Nitric Oxide
Global Medical Nitrous Oxide Market, By Application
- Pain Relief
- Cryosurgery
- Surgical Insufflation
- Anesthesia
Global Medical Nitrous Oxide Market, By End-User
- Home Healthcare
- Research Institutions
- Hospital
- Academics
Global Medical Nitrous Oxide Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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