Inhaled Nitric Oxide Market Expected to Reach $634.4 Million by 2027
North America generated the highest revenue in the global inhaled nitric oxide market in 2019. This is attributed to a large consumer base and increasing investment in R&D by the market players in the region. The other factors driving the growth of the inhaled nitric oxide market include increase in prevalence of chronic diseases in the newborn such as persistent pulmonary hypertension, and neonatal hypoxic respiratory failure (HRF).
According to a new report published by Allied Market Research, titled, “Inhaled Nitric Oxide Market by Application : Opportunity Analysis and Industry Forecast, 2020–2027,” the global inhaled nitric oxide market size was valued at $634.4 million in 2019, and is projected to reach $1,180.98 million by 2027, growing at a CAGR of 8.1% from 2020 to 2027.
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Key Findings Of The Study
By application, the neonatal respiratory treatment accounted for nearly 85.36% share of the inhaled nitric oxide market in 2019.
The chronic obstructive pulmonary disease is anticipated to grow with the CAGR 7.2 % throughout the forecast period.
North America accounted for 85.43% share of the market in 2019.
Asia-Pacific is anticipated to grow at a CAGR of 6% rate during the analysis period.
Asia-Pacific is expected to be growing region shortly on account of the number of highest live birth per 1000 people and the rise in prevalence of respiratory distress syndrome, neonatal jaundice, and hypoxic respiratory failure associated with persistent pulmonary hypertension of the newborn (PPHN). Furthermore, competitive market is formed due to the emergence of local providers of nitric oxide therapy systems contributes toward the Asia-Pacific inhaled nitric oxide market growth.
Covid – 19 Impact
Inhaled nitric oxide has antiviral properties and improved oxygenation. Therefore, nitric oxide is now being tested as an experimental treatment for COVID-19. It is helpful in protecting healthcare workers on the front line of the pandemic from getting sick. Further, iNO is used for the treatment of pulmonary hypertension, ARDS, and other respiratory diseases, whereas several undergoing randomized clinical trials are being conducted to investigate the role of inhaled nitric oxide in COVID-19. Moreover, key players such as Mallinckrodt have also initiated a retrospective study for the use of iNO in COVID-19 patients. Moreover, multiple ongoing clinical trials are conducted for iNO as a treatment for COVID-19 and it is being used with promising results in the patient population.
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Key Market Segments
By Application
Neonatal Respiratory Treatment
Chronic Obstructive Pulmonary Disease (COPD)
Acute Respiratory Distress Syndrome (ARDS)
Others
Key Market Players
AIR LIQUIDE S.A.
BELLEROPHON THERAPEUTICS, INC.
BOC HEALTHCARE
BEYOND AIR, INC.
HALMA PLC
LINDE PLC (PRAXAIR, INC.)
MALLINCKRODT PLC
NOVOTERIS, LLC
VERO BIOTECH LLC
NU-MED PLUS
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.