Nitrous Oxide Market Market Size

Nitrous Oxide Market size is evaluated at USD 1.5 billion in 2024 and is anticipated to exceed USD 4.1 billion by the end of 2037, registering over 8.1% CAGR during the forecast period i.e., between 2025-2037. In 2025, the industry size of nitrous oxide is estimated at USD 1.6 Billion.

The nitrous oxide (N2O) market is expanding due to the growing incidences of chronic diseases such as cardiovascular diseases, diabetes, and cancer. According to a 2023 report by the World Health Organization (WHO), non-communicable diseases (NCDs) or chronic diseases account for 41 million annual deaths worldwide or 74% of all fatalities. Nitrous oxide is used as an anesthetic and analgesic in medical procedures, including surgeries and pain management, which are often necessary for patients with chronic conditions. As the incidence of chronic conditions rises, the demand for medical procedures, and consequently the use of nitrous oxide in these procedures, also increases. This contributes to the overall growth of the nitrous oxide market.

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of nitrous oxide was over USD 1.5 billion.

The market size for nitrous oxide is projected to cross USD 4.1 billion by the end of 2037 expanding at a CAGR of 8.1% during the forecast period i.e., between 2025-2037.

The major players in the market are Praxair Technology, Inc., Linde plc, Parker Hannifin Corporation, MATHESON TRI-GAS, INC., SOL GROUP, Merck KGaA, Airgas, Inc., Air Liquide S.A., Ellenbarrie Industrial Gases, Norco Inc., and others.

The medical segment is anticipated to garner a size of 40% during 2025-2037.

In Asia Pacific, the nitrous oxide market is poised to hold a 36.5% share by the end of 2037.

Nitrous Oxide Market Market Size