Abstract
Summary
The global medical nitrous oxide market size is estimated to be USD 2.8 billion by 2029, from USD 1.8 billion in 2023, at a CAGR of 6.6%. The expansion of the medical nitrous oxide market is primarily fueled by various factors, including the increasing elderly population, advancements in healthcare infrastructure, a desire for non-invasive pain relief methods, and the existence of supportive regulations governing medical gas usage. Furthermore, the surge in surgical procedures, evident in both developed and developing nations, creates a favorable opportunity for the heightened utilization of medical nitrous oxide in anesthesia and analgesia, paving the way for additional growth prospects in the industry.
“The gasesous segment is expected to account for the largest market share in 2023.”
The medical nitrous oxide market is segmented based on product into gaseous and liquid states. As of 2023, the gaseous segment dominated the market. The prevalence of the gaseous state in the medical nitrous oxide market is attributed to its versatility in applications, particularly in anesthesia and analgesia during surgical procedures. The preference for the gaseous form in medical environments is driven by its ease of administration, precise dosage control, and rapid onset of action.
“The anesthesia and pain relief segment to register the highest growth rate in the forecast period.”
The medical nitrous oxide market, by application is segmented into anesthesia and pain relief, cryosurgery, and surgical insufflation. As of 2023, the anesthesia and pain relief segment is expected to register the highest growth during the forecast period. The dominance of anesthesia and pain relief applications in the medical nitrous oxide market is credited to their pivotal roles in both surgical and medical procedures. Nitrous oxide, celebrated for its anesthetic and analgesic properties, is widely embraced in healthcare settings due to its effectiveness in inducing conscious sedation and relieving pain during various medical interventions. This dominance is emphasized by the widespread use of nitrous oxide by healthcare professionals, as it offers swift and controllable sedation, significantly enhancing patient comfort and procedural success.
The hospital segment accounted for the largest share of the brain monitoring market in 2023.
The medical nitrous oxide market is classified by end user into hospitals, home healthcare, and academic and research institutions. As of 2023, the hospitals segment dominated the market. This is primarily due to the crucial role of nitrous oxide within hospital settings, particularly in the context of surgical and medical procedures. Hospitals, serving as central hubs for comprehensive healthcare services, extensively employ nitrous oxide for anesthesia and analgesia, offering a controlled and effective method for patient sedation during surgical interventions.
“North America to be the largest regional segment in the medical nitrous oxide market during the forecast period.”
Based on the region, the global medical nitrous oxide market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to hold the largest share of the market in 2023. The Asia Pacific region is anticipated to experience the most rapid growth during the forecast period. The significant expansion of the market in the Asia Pacific can be attributed to the dynamic growth in healthcare infrastructure, a rise in surgical procedures, and an increasing awareness of the advantages of nitrous oxide. These factors collectively contribute to an increased demand for medical nitrous oxide in the APAC region.
Breakdown of primaries
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%
The medical nitrous oxide market is dominated by a few globally established players such as Carbide and Chemicals (India), nexAir (US), Air Liquide (Paris), Linde plc (Ireland), Southern Gas Limited (India), Jiangsu Huazhong Gas Co., Ltd. (China), 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), Chengdu Taiyu Industrial Gases Co., Ltd. (China), Messer SE & CO. KGAA (Germany), SOL SpA (Italy), Ellenbarrie Industrial Gases (India), Norco Inc. (US), and Gulf Cryo (UAE).
Research Coverage:
The report segments the medical nitrous oxide market based on region (Asia Pacific, Europe, North America, Latin America, and Middle East & Africa), Product (gasesous, liquid), application (anesthesia and pain relief, cryosurgery, and surgical inflation), and end user(hospitals, home healthcare, and academic and research institutions).
The report also provides a comprehensive review of market drivers, restraints, and opportunities in the 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:
.
o 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).
o 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.
o Product Enhancement/Innovation: Detailed insights on upcoming trends and product launches in the global medical nitrous oxide market
o Market Development: Comprehensive information on the lucrative emerging markets by products, application, and end users.
o Market Diversification: Exhaustive information about new products or product enhancements, growing geographies, recent developments, and investments in the global medical nitrous oxide market
o 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.
Table of Contents
1 INTRODUCTION 29
1.1 STUDY OBJECTIVES 29
1.2 MARKET DEFINITION 29
1.2.1 INCLUSIONS AND EXCLUSIONS 29
1.3 MARKETS COVERED 30
1.3.1 REGIONAL SEGMENTATION 30
1.3.2 YEARS CONSIDERED 31
1.3.3 CURRENCY CONSIDERED 31
1.4 STAKEHOLDERS 31
1.5 RECESSION IMPACT 31
2 RESEARCH METHODOLOGY 33
2.1 RESEARCH DATA 33
2.1.1 SECONDARY DATA 34
- 2.1.1.1 Key data from secondary sources 34
2.1.2 PRIMARY RESEARCH 35
- 2.1.2.1 Primary sources 36
- 2.1.2.2 Key data from primary sources 37
- 2.1.2.3 Key industry insights 37
- 2.1.2.4 Breakdown of primary interviews: by company type, designation, and region 38
2.2 MARKET SIZE ESTIMATION METHODOLOGY 38
2.3 MARKET ESTIMATION 39
2.4 MARKET DATA ESTIMATION AND TRIANGULATION 44
2.5 STUDY ASSUMPTIONS 45
2.6 LIMITATIONS 45
2.6.1 SCOPE-RELATED LIMITATIONS 45
2.6.2 METHODOLOGY-RELATED LIMITATIONS 45
2.7 RISK ASSESSMENT 46
2.8 MEDICAL NITROUS OXIDE MARKET: RECESSION IMPACT 46
3 EXECUTIVE SUMMARY 47
4 PREMIUM INSIGHTS 50
4.1 MEDICAL NITROUS OXIDE MARKET OVERVIEW 50
4.2 NORTH AMERICA: MEDICAL NITROUS OXIDE MARKET, BY TYPE AND COUNTRY (2022) 51
4.3 MEDICAL NITROUS OXIDE MARKET: GEOGRAPHIC GROWTH OPPORTUNITIES 51
4.4 MEDICAL NITROUS OXIDE MARKET: REGIONAL MIX 52
4.5 MEDICAL NITROUS OXIDE MARKET: DEVELOPED VS. EMERGING ECONOMIES 52
5 MARKET OVERVIEW 53
5.1 INTRODUCTION 53
5.2 MARKET DYNAMICS 53
5.2.1 DRIVERS 54
- 5.2.1.1 Increasing number of surgeries and dental procedures 54
- 5.2.1.2 Growing adoption of nitrous oxide across various medical specialties 55
- 5.2.1.3 Rising geriatric population and subsequent increase in prevalence of chronic diseases 55
- 5.2.1.4 Growing demand for home healthcare 56
5.2.2 RESTRAINTS 56
- 5.2.2.1 Potential risks associated with nitrous oxide misuse 56
- 5.2.2.2 Availability of alternatives 56
5.2.3 OPPORTUNITIES 57
- 5.2.3.1 Rising demand for pain management 57
- 5.2.3.2 Technological advancements 58
5.2.4 CHALLENGES 58
- 5.2.4.1 Changes in calibration standards 58
- 5.2.4.2 Lack of awareness 58
5.3 INDUSTRY TRENDS 59
5.3.1 ADVANCEMENTS IN NITROUS OXIDE DELIVERY SYSTEMS 59
5.3.2 GROWING DEMAND FOR MINIMALLY INVASIVE PROCEDURES 59
5.4 TECHNOLOGY ANALYSIS 60
5.4.1 KEY TECHNOLOGIES 60
- 5.4.1.1 Nitrous oxide delivery systems 60
- 5.4.1.2 Monitoring and control systems 60
- 5.4.1.3 Technological integration in anesthesia machines 60
5.4.2 COMPLEMENTARY TECHNOLOGIES 60
- 5.4.2.1 Patient monitoring devices 60
- 5.4.2.2 Smart devices and connectivity 60
5.4.3 ADJACENT TECHNOLOGIES 61
- 5.4.3.1 Advanced anesthetic agents 61
- 5.4.3.2 Surgical robotics 61
5.5 PRICING ANALYSIS 61
5.5.1 AVERAGE SELLING PRICE TREND OF MEDICAL NITROUS OXIDE, BY PRODUCT 61
5.5.2 AVERAGE SELLING PRICE TREND, BY REGION 61
5.6 PORTER’S FIVE FORCES ANALYSIS 62
5.6.1 INTENSITY OF COMPETITIVE RIVALRY 62
5.6.2 BARGAINING POWER OF SUPPLIERS 62
5.6.3 BARGAINING POWER OF BUYERS 62
5.6.4 THREAT OF SUBSTITUTES 62
5.6.5 THREAT OF NEW ENTRANTS 63
5.7 TARIFF & REGULATORY ANALYSIS 63
5.7.1 TARIFF FOR MEDICAL NITROUS OXIDE 63
5.7.2 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 63
5.7.3 NORTH AMERICA 63
- 5.7.3.1 US 63
- 5.7.3.2 Canada 64
5.7.4 EUROPE 65
5.7.5 ASIA PACIFIC 67
- 5.7.5.1 Japan 67
- 5.7.5.2 China 67
- 5.7.5.3 India 69
5.7.6 LATIN AMERICA AND MIDDLE EAST & AFRICA 70
5.8 VALUE CHAIN ANALYSIS 71
5.9 ECOSYSTEM ANALYSIS 72
5.10 CASE STUDY ANALYSIS 73
5.10.1 CASE STUDY: EAST LANCASHIRE TEACHING HOSPITAL NHS FOUNDATION TRUST (ELHT) 73
5.11 PATENT ANALYSIS 74
5.11.1 PATENT PUBLICATION TRENDS 74
5.11.2 JURISDICTION ANALYSIS: TOP APPLICANTS (COUNTRIES) FOR MEDICAL NITROUS OXIDE PATENTS (2014-2024) 75
5.11.3 MEDICAL NITROUS OXIDE MARKET: TOP APPLICANTS 75
5.12 KEY STAKEHOLDERS & BUYING CRITERIA 76
5.12.1 KEY STAKEHOLDERS IN BUYING PROCESS 76
5.12.2 BUYING CRITERIA 77
5.13 KEY CONFERENCES & EVENTS IN 2024 78
5.14 TRADE ANALYSIS 79
5.14.1 TRADE ANALYSIS FOR MEDICAL NITROUS OXIDE 79
5.15 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 80
5.16 UNMET NEEDS ANALYSIS 81
5.16.1 END-USER EXPECTATIONS 82
6 MEDICAL NITROUS OXIDE MARKET, BY TYPE 83
6.1 INTRODUCTION 84
6.2 LIQUID NITROUS OXIDE 84
6.2.1 RISING CRYOTHERAPY APPLICATIONS TO DRIVE MARKET 84
6.3 GASEOUS NITROUS OXIDE 86
6.3.1 PRECISE DOSAGE CONTROL AND PORTABILITY TO DRIVE MARKET GROWTH 86
7 MEDICAL NITROUS OXIDE MARKET, BY APPLICATION 89
7.1 INTRODUCTION 90
7.2 ANESTHESIA & PAIN RELIEF 90
7.2.1 WIDE USAGE AS CARRIER FOR OTHER ANESTHETIC GASES TO DRIVE MARKET 90
7.3 CRYOSURGERY 92
7.3.1 PAINLESSNESS OF CRYOSURGICAL PROCEDURES TO SUPPORT ADOPTION 92
7.4 SURGICAL INSUFFLATION 94
7.4.1 USE OF NITROUS OXIDE AS INSUFFLATION GAS IN LAPAROSCOPIC AND ENDOSCOPIC SURGERIES TO DRIVE MARKET 94
8 MEDICAL NITROUS OXIDE MARKET, BY END USER 97
8.1 INTRODUCTION 98
8.2 HOSPITALS 98
8.2.1 EXTENSIVE USAGE OF MEDICAL NITROUS OXIDE TO DRIVE MARKET 98
8.3 HOME CARE SETTINGS 100
8.3.1 HOME CARE SETTINGS TO WITNESS HIGHEST GROWTH DUE TO RISING PREVALENCE OF CHRONIC DISEASES 100
8.4 ACADEMIC & RESEARCH INSTITUTES 102
8.4.1 COLLABORATION WITH INDUSTRY PARTNERS FOR TECHNOLOGICAL ADVANCES TO SUPPORT GROWTH 102
9 MEDICAL NITROUS OXIDE MARKET, BY REGION 105
9.1 INTRODUCTION 106
9.2 NORTH AMERICA 107
9.2.1 NORTH AMERICA: RECESSION IMPACT 107
9.2.2 US 111
- 9.2.2.1 US to dominate North American medical nitrous oxide market 111
9.2.3 CANADA 114
- 9.2.3.1 Stringent regulatory compliance to support market growth in Canada 114
9.3 EUROPE 116
9.3.1 EUROPE: RECESSION IMPACT 116
9.3.2 GERMANY 119
- 9.3.2.1 Increasing healthcare spending to drive market 119
9.3.3 UK 122
- 9.3.3.1 Increasing surgeries & dental procedures to drive market 122
9.3.4 FRANCE 124
- 9.3.4.1 Well-established healthcare system to drive market 124
9.3.5 ITALY 126
- 9.3.5.1 Rapid growth in geriatric population and rising life expectancy to favor market growth 126
9.3.6 SPAIN 129
- 9.3.6.1 Increasing prevalence of cancer to support market growth 129
9.3.7 REST OF EUROPE 131
9.4 ASIA PACIFIC 133
9.4.1 ASIA PACIFIC: RECESSION IMPACT 133
9.4.2 JAPAN 137
- 9.4.2.1 Japan to hold largest share of APAC market 137
9.4.3 CHINA 140
- 9.4.3.1 Strong investments in infrastructural development to offer opportunities for market growth 140
9.4.4 INDIA 142
- 9.4.4.1 Rising procedural volume to ensure sustained demand for medical gases 142
9.4.5 REST OF ASIA PACIFIC 144
9.5 LATIN AMERICA 146
9.5.1 RISING PUBLIC-PRIVATE PARTNERSHIPS FOR HEALTHCARE DEVELOPMENT TO PROMOTE ADOPTION OF MEDICAL NITROUS OXIDE 146
9.5.2 LATIN AMERICA: RECESSION IMPACT 147
9.6 MIDDLE EAST & AFRICA 149
9.6.1 GOVERNMENT INITIATIVES FOR INFRASTRUCTURAL DEVELOPMENT TO SUPPORT MARKET GROWTH 149
9.6.2 MIDDLE EAST & AFRICA: RECESSION IMPACT 149
10 COMPETITIVE LANDSCAPE 152
10.1 OVERVIEW 152
10.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 152
10.3 REVENUE ANALYSIS 154
10.4 MARKET SHARE ANALYSIS 154
10.5 MARKET RANKING ANALYSIS 156
10.6 COMPANY EVALUATION MATRIX: KEY PLAYERS 157
10.6.1 STARS 157
10.6.2 EMERGING LEADERS 157
10.6.3 PERVASIVE PLAYERS 158
10.6.4 PARTICIPANTS 158
10.6.5 COMPANY FOOTPRINT 159
10.7 COMPANY EVALUATION MATRIX: STARTUPS/SMES 164
10.7.1 PROGRESSIVE COMPANIES 164
10.7.2 RESPONSIVE COMPANIES 164
10.7.3 DYNAMIC COMPANIES 164
10.7.4 STARTING BLOCKS 164
10.7.5 COMPETITIVE BENCHMARKING 166
- 10.7.5.1 Detailed list of key startups/SMEs 166
- 10.7.5.2 Competitive benchmarking of key startups/SMEs 167
10.8 BRAND/PRODUCT COMPARISON 168
10.9 COMPANY EVALUATION AND FINANCIAL METRICS 169
10.10 COMPETITIVE SCENARIO 170
10.10.1 DEALS 170
10.10.2 EXPANSIONS 171
11 COMPANY PROFILES 172
11.1 KEY PLAYERS 172
11.1.1 AIR LIQUIDE 172
11.1.2 LINDE PLC 175
11.1.3 SOL SPA 178
11.1.4 TAIYO NIPPON SANSO CORPORATION 181
11.1.5 NORCO INC 184
11.1.6 SOUTHERN GAS LIMITED 186
11.1.7 ELLENBARRIE INDUSTRIAL GASES 187
11.1.8 CALOX INC 188
11.1.9 STEELMAN GASES PVT. LTD 189
11.1.10 NEXAIR 190
11.1.11 OXYGEN & ARGON WORKS LTD 192
11.1.12 GULFCRYO 193
11.1.13 CHENGDU TAIYO INDUSTRIAL GASES CO., LTD 194
11.1.14 JIANGSU HUAZHONG GAS CO., LTD 195
11.1.15 CARBIDE AND CHEMICALS 196
11.1.16 AMERICAN WELDING & GAS 197
11.1.17 ASIA INDUSTRIAL GASES PTE. LTD 198
11.1.18 MIDDLESEX GASES & TECHNOLOGY INC 199
11.1.19 AMERITANX CYLINDERS 200
11.1.20 CRYOCARB 201
11.2 OTHER PLAYERS 202
11.2.1 HOLSTON GASES 202
11.2.2 AOPL 202
11.2.3 BUTLER GAS PRODUCTS COMPANY 203
11.2.4 GRUPPO SIAD 203
11.2.5 ANDY OXY CO., INC 203
12 APPENDIX 204
12.1 DISCUSSION GUIDE 204
12.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 206
12.3 CUSTOMIZATION OPTIONS 208
12.4 RELATED REPORTS 208
12.5 AUTHOR DETAILS 209