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Inhaled Nitric Oxide Market Expected to Reach $1.6 Billion by 2032

 
2022
Inhaled Nitric Oxide Market

Report Code : A02681

quote An increase in the adoption of inhaled nitric oxide for neonatal hypoxic respiratory failure and a rise in R&D activities and clinical trials for other applications is expected to drive the market growth. quote

Roshan Deshmukh - Manager
Life Sciences at Allied Market Research

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According to a new report published by Allied Market Research, titled, “Inhaled Nitric Oxide Market," The inhaled nitric oxide market was valued at $0.8 billion in 2022, and is estimated to reach $1.6 billion by 2032, growing at a CAGR of 7.7% from 2023 to 2032.

The major key factor that contributes toward the inhaled nitric oxide market size includes surge in the prevalence of respiratory disorders has emerged as a pivotal driver for inhaled nitric oxide market. In recent years, respiratory ailments, encompassing conditions such as chronic obstructive pulmonary disease (COPD), asthma, and acute respiratory distress syndrome (ARDS), have witnessed a concerning escalation in their incidence rates globally. For instance, according to a 2023 report by the National Library of Medicine, it was reported that acute respiratory distress syndrome is a rapidly progressive form of respiratory failure that accounts for 10% of admissions to the ICU. ARDS, characterized by rapid onset respiratory failure, presents a critical challenge in clinical settings worldwide. Despite its efficacy, the use of inhaled nitric oxide is often reserved for patients with severe respiratory failure or pulmonary hypertension, as it can be expensive and requires specialized equipment for administration and monitoring.

The inhaled nitric oxide offers a targeted intervention by dilating pulmonary vessels, thus improving blood oxygenation and alleviating the symptoms associated with acute respiratory distress syndrome. Thus, the rise in incidence of acute respiratory distress syndrome is expected to drive the inhaled nitric oxide market growth.

The deteriorating air quality, rising pollution levels, and an increasing number of individuals exposed to occupational hazards contribute significantly to the growing burden of respiratory disorders and are also the upcoming inhaled nitric oxide market trends. Inhaled nitric oxide therapy has garnered attention as a promising treatment option for various respiratory disorders due to its vasodilatory properties, which help improve oxygenation and reduce pulmonary hypertension. Moreover, the adoption of inhaled nitric oxide therapy has expanded beyond traditional neonatal applications to include pediatric and adult populations. In addition, the rise in preterm births has emerged as a pivotal driver propelling the growth of the inhaled nitric oxide market. 

According to Center of Disease Control and Prevention it was reported that in 2022, preterm birth affected about 1 of every 10 infants born in the U.S. Preterm birth, defined as the delivery of a baby before 37 weeks of pregnancy have been completed, poses significant health risks to infants, including respiratory distress syndrome and persistent pulmonary hypertension. Inhaled nitric oxide, a potent vasodilator, plays a crucial role in improving oxygenation and reducing pulmonary hypertension in preterm infants by selectively dilating the pulmonary vasculature. As healthcare providers seek advanced and efficient solutions to address the complications associated with preterm births, the demand is expected to surge significantly during the inhaled nitric oxide market forecast period.

The inhaled nitric oxide market analysis is segmented on the basis of application and region. By the application, the market is classified into neonatal respiratory treatment, chronic obstructive pulmonary disease (COPD), acute respiratory distress syndrome (ARDS) and others. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, and rest of Europe), Asia-Pacific (Japan, Australia, and rest of Asia-Pacific), and LAMEA (Latin America and Middle East and Africa)

On the basis of application, the neonatal respiratory treatment segment  held the highest inhaled nitric oxide market share in 2022 and is expected to register highest CAGR during the forecast period, owing to increase in number of preterm births and high adoption of inhaled nitric oxide for treatment of respiratory diseases in the infant.

North America accounted for a majority of the global inhaled nitric oxide market share in 2022 and is anticipated to remain dominant during the forecast period. This is attributed to well-developed healthcare infrastructure, rise in incidence of preterm birth, and strong presence of major key players. However, Asia-Pacific is anticipated to witness fastest growth during the forecast period, owing to rise in prevalence of the respiratory disorders, development in healthcare infrastructure, and growth in awareness and education.

Key findings of the study

  • By application, the neonatal respiratory treatment segment held the largest inhaled nitric oxide market size of the market in 2022.

  • By region, North America garnered the largest revenue share in 2022. However, Asia-Pacific is expected to grow at the fastest rate during the forecast period.

  • France inhaled nitric oxide industry is anticpated to grow with the highest CAGR during the forecast period.

  • Australia inhaled nitric oxide industry is anticpated to grow with the highest CAGR during the forecast period.

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quote Inhaled Nitric Oxide Market by Application (Neonatal Respiratory Treatment, Chronic Obstructive Pulmonary Disease, Acute Respiratory Distress Syndrome, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032 quote

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