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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.Inhaled nitric oxide (iNO) is a pulmonary vasodilator that plays a major role in regulating vascular muscle tone. It has emerged as a treatment for hypoxemic respiratory failure in newly born infants that is associated with persistent high pulmonary vascular pressure and resultant right-to-left shunting of blood (persistent pulmonary hypertension of the newborn. For instance- each year around 2% of all live births and >33% of neonatal mortality occurs due to neonatal hypoxic respiratory failure (HRF). On the other hand, 0.4-6.8/1000 live birth-years suffer from persistent pulmonary hypertension of the newborn (PPHN) and the mortality rate remains approximately 10% in those with moderate to severe forms of the condition.
Neonatal hypoxic respiratory failure is caused by persistent pulmonary hypertension of the newborn and other diseases such as meconium aspiration syndrome, sepsis, birth asphyxia, and respiratory distress syndrome that contribute to pulmonary arterial hypertension. Inhaled nitric oxide (iNO) was first used in neonatal practice in 1992. It was approved by the U.S. Food and Drug Administration (US FDA) for the treatment of hypoxic respiratory failure associated with pulmonary hypertension in 1999.
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By application, the neonatal respiratory disease segment garnered the maximum share of the global inhaled nitric oxide market in 2019 and is projected to exhibit a prominent growth rate, owing to increased incidences of PPHN across the globe.
Thus, inhaled nitric oxide is currently approved for the treatment of persistent pulmonary hypertension of the newborn (PPHN) due to inhaled nitric oxide antibacterial and oxygenation properties inhaled nitric oxide is a targeted pulmonary vasodilator that improves clinical outcomes for newborn patients with persistent pulmonary hypertension of the newborn.
By application, neonatal respiratory treatment accounted for nearly 85.36% share of the global inhaled nitric oxide market in 2019.
By region, the inhaled nitric oxide market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, and rest of Europe), Asia-Pacific (Japan, Australia, and rest of World)
COVID-19 pandemic, 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 also 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.
In March, the US FDA gave a handful of pharmaceutical company’s emergency clearance to allow the use of their nitric oxide devices to treat these patients, including Bellerophon Therapeutics and Vero Biotech. In addition, inhaled gas can have therapeutic benefits in COVID-19 patients by preventing further damage to the vessels inside the lungs.
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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.
In 2019, 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).
However, 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.
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Name: David Correa
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Organization: Allied Market Research
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Website: https://www.alliedmarketresearch.com
Release ID: 89030829
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