June 30, 2020
As per the report titled ‘Global Inhaled Nitric Oxide (iNO) Market a Analysis By Product Type, Application (ARDS, PPHN, Others), By Region, By Country (2020 Edition): Market Insights, COVID-19 Impact, Competition and Forecast (2020-2025)’, available with Market Study Report LLC, global inhaled nitric oxide (iNO) market was worth USD 830.8 million in 2019 and is expected to witness significant gains through 2027.
The findings of the report claim that the spike in the demand for inhaled nitric oxide (iNO) from the healthcare sector, in tandem with its broadening application area owing to ongoing R&D activities are favoring industry expansion. Besides, elevated risk of respiratory disease due to increasing air pollution levels, along with rising burden of diseases such as respiratory tract infections, chronic obstructive pulmonary diseases, tuberculosis, and bronchial asthma among the ever-growing geriatric population serves as major growth impetus for the industry, cites the report.
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Innovative technologies like Beyond Aira’s LungFit devices, that is a simple plasma arc discharge-based technology free of cylinders, are expected to play a key role in shaping the industry growth in the coming future. In addition, rise in healthcare expenditure, development of new hospitals, significant research funds, and inclination towards branded treatment & drugs will foster the industry growth in the years to come.
Based on the product terrain, inhaled nitric oxide industry is categorized into 99.92% purity, 99.99% purity, and others, wherein the former segment is expected to show robust growth over the forecast duration.
From the regional perspective, global inhaled nitric oxide market is divided into North America, Europe, and Asia Pacific. The report claims that North American market will continue to display strong growth trends over the estimated timeframe, owing to a huge consumer base and increase in investments in R&D activities by the prominent players in the region.
Key players operating in global inhaled nitric oxide (iNO) market are Novoteris LLC, NU-MED Plus, Inc., Beyond Air Inc., VERO Biotech LLC, Linde Plc (Praxair Inc.), Air Liquide S.A., and Mallinckrodt Pharmaceuticals.