According to a research report titled ‘Global Inhaled Nitric Oxide (iNO) Market – Analysis By Product Type, Application (ARDS, PPHN, Others), By Region, By Country (2020 Edition): Market Insights, COVID-19 Impact, Competition and Forecast (2020-2025)’ published by Azoth Analytics in June 2020, the Global Inhaled Nitric Oxide Market was valued at USD 830.58 million during the year 2019. Global Inhaled Nitric Oxide market is expected to grow owing to a number of factors for instance increase in demand from healthcare, ongoing R&D activities leading to new application areas in healthcare industry, rising pollution levels and ever-growing aged population are the major factors impelling the market growth.
According to the Azoth Analytics research report, Global Inhaled Nitric Oxide Market is primarily driven by increase in the levels of particulate matter (PM), ozone, nitrogen oxides (NOx), and Sulphur dioxide (SO2) that leads to increase prevalence of asthma and COPD by diminishing the lung functioning. Ongoing demographic shift towards ageing population is a crucial factor in surging growth of global inhaled nitric oxide market. Amongst geriatric population, there is a higher prevalence of respiratory tract infections, tuberculosis, chronic obstructive pulmonary diseases, bronchial asthma and other several other diseases. High per capita expenditure on healthcare, increase in number of hospitals, more preference towards branded treatment and drugs and high research funding has been creating sustainable demand for the Inhaled nitric oxide treatment and its use.
Major drivers of the inhaled nitric oxide market include the increasing collaboration in the industry between market players and academia to generate data and treatment for the diseases including PPHN and ADRS. Also, increasing awareness and spending power of the middle class for therapeutic, healthcare and treatment will accelerate the market for the inhaled nitric oxide globally.
The North America region holds the largest market of Inhaled Nitric Oxide and is estimated that it will continue to dominate the market share in forecasted period. However, it may lose its market share to European as well as to Asia-Pacific region which is likely to witness higher growth rate among the regions.
No matter the hour, weâ€™re here to help.Contact us now!