Scienza e Tecnologia
Inhaled Nitric Oxide Market to Reach $1.18 Bn, Globally, by 2027 at 8.1% CAGR: Allied Market Research
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Growing demand from the healthcare sector and rise in chronic diseases drive the growth of the global inhaled nitric oxide market. However, high cost of treatment and stringent application norms hinder the market growth. On the other hand, ongoing R&D activities that are leading to new application areas in the healthcare industry create new opportunities in the coming years.
Based on application, the neonatal respiratory treatment segment contributed to the highest share in terms of revenue in 2019, accounting for more than four-fifths of the global inhaled nitric oxide market, and is projected to maintain its dominance in terms of revenue during the forecast period. In addition, this segment is projected to portray the highest CAGR of 8.4% from 2020 to 2027. This is attributed to the increase in the prevalence of diseases in the newborn such as persistent pulmonary hypertension, and neonatal hypoxic respiratory failure (HRF).
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Based on region, North America held the largest market share in 2019, contributing to more than four-fifths of the global inhaled nitric oxide market, and will maintain its leadership status by 2027. Furthermore, the region grow at the highest CAGR of 8.3% during the forecast period. This is attributed to a large consumer base and increasing investment in R&D by the market players in the region.
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