Nitrous Oxide Market Market Share

APAC Market Statistics

Asia Pacific in nitrous oxide market is anticipated to account for more than 36.5% revenue share by the end of 2037. The market is expanding in the region owing to the improved healthcare infrastructure which has increased the demand for anesthetics in medical procedures and surgeries. Moreover, the automotive industry has increased the adoption of nitrous oxide, especially in nations with a vibrant motorsports culture.

In China healthcare system is developing rapidly due to the rising investments in clinics, hospitals, and medical equipment. According to the WHO, the Government of China tripled healthcare expenditure from USD 67.7 billion to USD 225.5 billion in 2018. Therefore, the nitrous oxide market will expand owing to the incorporation of medical nitrous oxide into anesthesia and pain treatment procedures in various healthcare settings.

In India, the growing middle class and their higher disposable incomes are fueling the need for a range of medical procedures and treatments, which is increasing the use of nitrous oxide in the healthcare industry. According to the India Brand Equity Foundation (IBEF), by 2047, the proportion of India's middle class to the country's overall population will have nearly doubled to 61%, from 31% in 2020–21.

The expanding automobile manufacturing sector in South Korea is predicted to sustain the nitrous oxide market expansion of nitrous oxide over the projection period. For instance, approximately 4.24 million automobiles were produced in South Korea in 2023.

North America Market Analysis

North America will witness enormous growth for the nitrous oxide market during the forecast period and hold the second position owing to the increasing incidence of chronic illnesses such as cancer, type 2 diabetes, heart disease, obesity, and arthritis. According to the National Institutes of Health, coronary heart disease has been estimated to affect 16.3 million Americans who are 20 years of age or older, representing a 7% prevalence.

The U.S. is a center for technological innovation in the healthcare industry, encompassing developments in patient monitoring and anesthesia monitoring systems. This innovation also includes the distribution of medical nitrous oxide, as advanced tools and methods for safely and effectively administering nitrous oxide have been developed.

In Canada, nitrous oxide is gaining popularity in electronics industry as a specialty gas in the production of semiconductors, where it is essential for chemical vapor deposition procedures. For instance, the total output of the semiconductor sector in Canada was USD 28.8 billion in 2020. Therefore, the expansion of the semiconductor industry in the region is accelerating the growth of the nitrous oxide market.