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Medical Nitrous Oxide Market Size
Medical Nitrous Oxide Market size was valued at around USD 1.7 billion in 2023 and is estimated to grow at 7.4% CAGR from 2024 to 2032. Medical nitrous oxide also known as laughing gas is a colorless and odorless gas with the chemical formula N2O. It is commonly used in medical settings for its analgesic (pain-relieving) and anxiolytic (anxiety-reducing) properties. Nitrous oxide is administered via inhalation, typically mixed with oxygen to induce a state of sedation and relieve pain during medical procedures.
The increasing prevalence of chronic disease includes cardiovascular diseases, diabetes, and cancer serves as a substantial impetus for market growth. For instance, according to the World Health Organization (WHO), in 2022, there were an estimated 20 million new cancer cases and 9.7 million deaths worldwide. Thus, this underscores the need for effective pain management solutions such as medical nitrous oxide, driving its market expansion to cater to the rising demand for analgesic options in various medical procedures and settings.
Furthermore, increasing surgical procedures and dental procedures, growing adoption of nitrous oxide across various medical specialties, and rising geriatric population, are the promoting factors fostering the growth of the market.
How much is the medical nitrous oxide industry worth?
Medical nitrous oxide market size was valued at USD 1.7 billion in 2023 and is estimated to grow at 7.4% CAGR from 2024 to 2032, owing to increasing prevalence of chronic diseases.
Why is the demand for gaseous medical nitrous oxide rising?
Medical nitrous oxide industry from the gaseous nitrous oxide product segment is estimated to account for USD 2 billion by the end of 2032, owing to its ability to provide swift recovery and minimal residual effects.
Why is medical nitrous oxide preferred in the U.S?
The U.S. medical nitrous oxide market held a decent share in 2023 and will grow at 7.2% CAGR from 2024 to 2032, owing to technological innovation in healthcare.
Who are the major medical nitrous oxide industry players?
Air Liquide, Calix, Inc., Chengdu Taiyo Industrial Gases Co., Ltd., Ellenbarrie Industrial Gases Ltd., Linde Plc, Mitsubishi Chemical Group Corporation, Norco Inc., and NEXAIR among others.