Inhaled Nitric Oxide Market to Reach $1.6 billion, Globally, by 2032 at 7.7% CAGR: Allied Market Research

PORTLAND, Ore., April 23, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Inhaled Nitric Oxide Market by Application (Neonatal Respiratory Treatment, Chronic Obstructive Pulmonary Disease, Acute Respiratory Distress Syndrome, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, 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.

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Prime Determinants of Growth 

The inhaled nitric oxide market has experienced significant growth owing to high adoption of Inhaled nitric oxide for the treatment of pulmonary disorders in newborns. In addition, rise in the prevalence of respiratory diseases is also expected to actively contribute to the growth of the market. Furthermore, high research and development activities to explore the therapeutic effects of inhaled nitric oxide are expected to present significant opportunities for growth in the market. 

Report coverage & details 

2023 Recession Impact Analysis 

• The global recession had a significant impact on the inhaled nitric oxide market. The economic uncertainty has negatively impacted the new investments and funding for research and development activities in the market. Furthermore, the financial distress has resulted in lower healthcare spendings, which highly impact the high-cost treatment such as inhaled nitric oxide.
• However, the inhaled nitric oxide market is expected to recover owing to high adoption of inhaled nitric oxide for the treatment of respiratory functioning complications in newborns.
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The neonatal respiratory treatment segment to maintain its leadership status throughout the forecast period 

By application, the neonatal respiratory treatment segment held the highest market share in 2023, accounting for more than nine-tenths of the inhaled nitric oxide market revenue, owing to rise in the prevalence of respiratory complications in newborns and surge in the incidence of preterm births. Furthermore, majority of the inhaled nitric oxide products are approved for the treatment of pulmonary complications in newborns. 

North America to maintain its leadership status throughout the forecast period 

By region, North America held the highest market share in 2023, accounting for more than nine-tenths of inhaled nitric oxide market revenue. This is attributed to the surge in research and development activities, well-developed healthcare infrastructure, and rise in the number of preterm births.  

However, Asia-Pacific is expected to register a noteworthy CAGR during the forecast period, owing to surge in the prevalence of respiratory diseases, rise in the geriatric population, and increase in disposable income. 

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Leading Market Players: - 

• Air Liquide S.A. 
• Linde PLC
• Mallinckrodt Plc 
• Vero Biotech LLC 
• Sol Group 
• Air Water Inc. 
• Chemix Specialty Gases and Equipment 
• Nippon Sanso Holdings Corporation 
• Chengdu Taiyu Industrial Gases Co. Ltd. 
• Sichuan Salman Chemical Products Co. Ltd.

The report provides a detailed analysis of these key players in the inhaled nitric oxide market. These players have adopted different strategies such as joint venture and patent to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

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