Medical Nitrous Oxide Market - By Type (Liquid Nitrous Oxide, Gaseous Nitrous Oxide), Application (Anesthesia and Pain Relief, Cryosurgery, Surgical Insufflation), End-use (Hospitals, Home Care Settings) - Global Forecast (2024 – 2032)
Report ID: GMI9196
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Published Date: April 2024
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Report Format: PDF
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Premium Report Details
Base Year: 2023
Companies covered: 12
Tables & Figures: 214
Countries covered: 23
Pages: 170
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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.
Medical Nitrous Oxide Market Trends
The landscape of medical procedures including surgeries and dental treatments has been witnessing a significant surge worldwide. This uptick is attributed to various factors including advancements in medical technology, an aging population, and increasing awareness about healthcare. Alongside this rise in procedural volumes comes a growing demand for effective pain management solutions that ensure patient comfort and satisfaction.
Medical Nitrous Oxide Market Analysis
Based on type, the market is divided into liquid nitrous oxide and gaseous nitrous oxide. The gaseous nitrous oxide segment is estimated to account for USD 2 billion by 2032.
Based on application, the medical nitrous oxide market is bifurcated into anesthesia and pain relief, cryosurgery, and surgical insufflation. The anesthesia and pain relief segment accounted for USD 778.8 million in 2023.
Based on end-use, the medical nitrous oxide market is classified into hospitals, home care settings, and academic and research institutes. The hospitals segment held a market size of USD 1.1 billion in 2023.
The U.S. medical nitrous oxide market is anticipated to grow at CAGR of 7.2% during the analysis timeframe.
The UK is anticipated to witness robust growth in the global medical nitrous oxide market.
China medical nitrous oxide market is anticipated to witness lucrative growth between 2024 – 2032.
Medical Nitrous Oxide Market Share
The medical nitrous oxide industry is competitive in nature, with several large multinationals and small and mid-sized companies competing in the industry. The development and launch of novel advanced products and services based on different technologies is among a key market strategy. Some of the leading industry players have a notable presence in the market.
Medical Nitrous Oxide Market Companies
Some of the eminent market participants operating in the medical nitrous oxide industry include:
Medical Nitrous Oxide Industry News:
The medical nitrous oxide market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments:
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Market, By Type
Market, By Application
Market, By End-use
The above information is provided for the following regions and countries: