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Medical Nitrous Oxide Market Worth $2.8 Billion | MarketsandMarkets

CHICAGO, Feb. 13, 2024 /PRNewswire/ -- Medical Nitrous Oxide Market in terms of revenue was estimated to be worth $1.8 billion in 2023 and is poised to reach $2.8 billion by 2029, growing at a CAGR of 6.6% from 2023 to 2029 according to a new report by MarketsandMarkets. Factors propelling the medical nitrous oxid market include the advancements in healthcare infrastructure, increase in number of surgical procedures continues to rise globally, the demand for anesthesia gases, including nitrous oxide, is expected to increase, and demand for non-invasive pain management.

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Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=24902090

Browse in-depth TOC on "Medical Nitrous Oxide Market"

110 - Tables
55 - Figures
220 - Pages

Medical Nitrous Oxide Market Scope:

Report Coverage

Details

Market Revenue in 2023

$1.8 billion

Estimated Value by 2029

$2.8 billion

Growth Rate

Poised to grow at a CAGR of 6.6%

Market Size Available for

2021-2029

Forecast Period

2023-2029

Forecast Units

Value (USD Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Product, Application, End User, and Region

Geographies Covered

North America, Europe, APAC, Latin America, and Middle East Africa

Report Highlights

Updated financial information / product portfolio of players

Key Market Opportunities

Growing demand for pain management

Key Market Drivers

Improvements in healthcare infrastructure

The gaseous state segment is expected to register the highest growth of the medical nitrous oxide market

By product, the global medical nitrous oxide market is categorized into liquid state and gaseous state. The gaseous segment is expected to register the highest growth of the medical nitrous oxide market in 2023. The portability and ease of use, precise dosing and control, and storage, and cost-effectiveness are expected to propel the growth of this market.

Anaesthesia and pain relief accounted for the largest share of the market, by application

By application, the global medical nitrous oxide market is categorized into anaesthesia and pain relief, cryosurgery, and surgical insufflation. The anaesthesia and pain relief segment held the largest share of the market in 2023. Primarily attributed to the factors such as synergistic effects as nitrous oxide, when used alongside traditional anesthetics, amplifies their pain-relieving and anxiety-reducing properties. This allows for lower dosages of other medications, potentially minimizing side effects and reducing costs; verstality across procedures, and patient preference and compliance.

Hospitals accounted for the largest share of the end user segment of the medical nitrous oxide market

Based on end user, the medical nitrous oxide market is categorized into hospitals, home healthcare, and academic and research institutions. The hospitals segment held the largest share of the medical nitrous oxide market in 2023. Hospitals cater to a diverse range of patients and medical procedures, creating a concentrated demand for N2O across various applications, from anesthesia and pain relief in surgeries to respiratory support in critical care. This high volume translates to substantial market share for hospitals.

North America accounted for the largest share of the global medical nitrous oxide market

Based on the region, the global medical nitrous oxide market is divided into North America, Europe, the Asia Pacific, Latin America, and Middle East & Africa. North America held the largest share of the global medical nitrous oxide market in 2023, while the Asia Pacific is projected to be the fastest-growing region in the forecast period. The large share of North America can be attributed to advanced Healthcare Infrastructure, high prevalence of chronic diseases, favorable regulatory landscape, and growing geriatric population.

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Medical Nitrous Oxide Market Dynamics:

Drivers:

  1. Improvements in healthcare infrastructure

Restraint:

  1. Availability of alternatives

Opportunities:

  1. Growing demand for pain management

Challenge:

  1. Limited awareness

Key Market Players of Medical Nitrous Oxide Industry:

Some of the leading players in the medical nitrous oxide market include Messer SE & CO. KGAA (Germany), SOL SpA (Italy), Ellenbarrie Industrial Gases (India), Norco Inc. (US), Carbide and Chemicals (India), Jiangsu Huazhong Gas Co., Ltd. (China), Chengdu Taiyu Industrial Gases Co., Ltd. (China), nexAir (US), 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), Air Liquide (Paris), Linde plc (Ireland), Southern Gas Limited (India), and Gulf Cryo (UAE).

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%

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=24902090

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:

  • 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.

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About MarketsandMarkets:

MarketsandMarkets has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn and Facebook.

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