As per the recently published report by MarketsandMarkets™, The report "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", size is estimated to be USD 2.8 billion by 2029 from USD 1.8 billion in 2023, at a CAGR of 6.6%.
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- 110 Market Data Tables
- 55 Figures
- 220 Pages and in-depth TOC on "Medical
Nitrous Oxide Market - Global Forecast to 2029”
Some of the prominent key players are:
- Messer SE & CO. KGAA (Germany),
- SOL SpA (Italy),
- Ellenbarrie Industrial Gases (India),
- Norco Inc. (US),
- Carbide and Chemicals (India), and many
more......
Mergers & acquisitions, investments & expansions,
partnerships & collaborations, and new product developments are some of the
major strategies adopted by these key players to enhance their positions in the
Medical Nitrous Oxide Market.
Driver:
Improvements in healthcare infrastructure
Enhancements
in healthcare infrastructure serve as a catalyst for the growth of the market.
The continuous improvement and development of healthcare facilities contribute
significantly to the increased demand for medical nitrous oxide. This is
attributed to the heightened capability of upgraded healthcare infrastructure
to support advanced medical procedures, including surgeries and pain
management, wherein nitrous oxide plays a crucial role. As healthcare systems
evolve and modernize, the demand for medical nitrous oxide is expected to rise
proportionately, aligning with the evolving needs and standards of
sophisticated healthcare delivery.
Opportunity:
Growing demand for pain management
The
increasing demand for pain management presents a significant opportunity for
the market. As the need for effective and non-invasive pain relief methods
continues to grow, medical nitrous oxide stands poised to capitalize on this
trend. The unique analgesic properties of nitrous oxide make it a valuable
asset in pain management within healthcare settings. This rising demand
positions medical nitrous oxide as a preferred choice for healthcare
professionals seeking efficient solutions for pain relief, thereby contributing
to the expansion and opportunities within the market.
Market
Segmentation: -
- 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.
- 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.
- 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.
- 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.
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Recent Developments of
Medical Nitrous Oxide Industry:
- In
December 2023, Linde Healthcare has partnered with the Air Force Materiel
Command to supply liquid oxygen and nitrogen to healthcare, manufacturing,
metals, and mining.
- In
July 2023, Air liquid started a project to transform the Home Healthcare
activity in France to align it with the needs and expectations of patients
and healthcare professionals and adapt its business model to meet the
challenges of the country's healthcare system.
The primary impetus behind the medical nitrous oxide market
stems from various factors, including the expanding elderly population,
improvements in healthcare infrastructure, the desire for non-invasive pain
relief methods, and the presence of supportive regulations and standards
governing the utilization of medical gases. Furthermore, the escalating volume
of surgical procedures, observed in both developed and developing nations,
creates a favorable prospect for the heightened adoption of medical nitrous oxide
in anesthesia and analgesia, presenting additional avenues for industry
expansion.
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