Nitrous Oxide Market (by Application (Automotive, Medical, Electronics, Food & Beverages, Others) –by Geography (North America, Europe, Asia Pacific, Middle East & Africa and Latin America)) –is expected to reach 1441.12 Mn by 2026 at a CAGR 7.0%.
Nitrous oxide or laughing gas is a colorless and non-flammable gas with a little bit sweet odor, which is widely used for various medical and non-medical applications. The use of nitrous oxide in the medical sector have a minimal impact on the environment. Nitrous oxide is primarily used as an inhalation anesthetic product in medicines. Administration of this product is mainly accompanied by simultaneous administration of a volatile agent such as ethrane, halothane, etc. However, strict rules and regulations over the possession, transportation, and usage are posing a challenge to the growth of the market. Usage of medical gases and their associated equipment is regulated by the Center for Drug Evaluation and Research and the U.S. Food and Drug Administration. These guidelines reveal practices and procedures for compressed medical gas fillers, including home respiratory services. Manufacturers are compelled to comply with rules and guidelines laid down for the manufacturing and marketing of medical gases.
Medical was the largest application segment in 2017 and the trend is anticipated to continue throughout the forecast period.
In terms of application, Medical was the largest application segment in 2017 and the trend is anticipated to continue throughout the forecast period. It is used as anesthetic agents for various therapeutic indications. In dental procedures during tooth extraction or other brief procedures, nitrous oxide have been a non-substitutable agent. In modern automobiles, nitrous oxide is used to importantly boost engine power by increase in the oxygen content of the fuel mixture, thus enabling the engine to burn more fuel. The plurality of nitrous oxide systems are installed on trucks, motorcycles, snowmobiles, all-terrain vehicle, and cars. It is also hardly used as insufflating agent in laparoscopy and in cryosurgery as a refrigerant. However, legislation refer to use of nitrous oxide in road vehicles varies from country to country, even within Europe.
North America is the leading revenue contributor in the global nitrous oxide market
In terms of region, North America is the leading revenue contributor in the global nitrous oxide market. Europe is also likely to be a prominent destination for global players. Chronic diseases are the major causes of mortality and morbidity in Europe. Majority of aging population suffers from chronic diseases.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading manufacturers such as Praxair Technology, Inc., Oxygen & Argon Works Ltd., The Linde Group, Matheson Tri-Gas, Inc., SOL Spa, Merck KGaA, Air Liquide, Airgas, Inc., and Ellenbarrie Industrial Gases Ltd.
Maximize market research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the Nitrous oxide market. Report encompasses the market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Nitrous oxide market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Nitrous oxide market positioning of competitors.