The global nitric oxide therapy systems market is growing at a CAGR of 5.5% from 2021 to 2029. The nitric oxide therapy systems are majorly utilized in neonatal pulmonary hypertension & acute respiratory distress syndrome. Nitric oxide inhalation through the cyclic GMP induces vasodilation and promotes relief in neonate hypertension and acute respiratory distress syndrome. Factors such as increased incidence of pulmonary conditions and recent advancements in nitric oxide therapy systems propel the growth of the global nitric oxide therapy systems market. Furthermore, the high sales of INOmax, FDA approved nitric oxide, and presence of strong pipeline candidates indicate the enormous market opportunities for the market players to further penetrate into the global nitric oxide therapy market. However, challenges associated with the nitric acid therapy along with the regulatory restrictions particularly in the United States expected to restrict the growth of the global nitric oxide therapy systems market.
Portable Nitric Oxide Therapy Systems Currently Booming
Based on the type of products, the portable nitric oxide therapy systems dominated the global market in 2020 with approximate of 63.2% of the market share, in terms of market value. The advantage of movability of portable devices over fixed one has enabled vast market penetration.
Based on the end-user, the hospital segment dominated the global market in 2020 owing to the high installations of the devices compared to other segments.
Based on geographical demarcation, the global nitric oxide therapy systems were led by Europe in 2020 with a market share of 33.4%, in terms of market value. The Asia Pacific was identified to be the fastest-growing regional segment owing to the growing healthcare expenditure. The market competition is expected to be intensified with the approval of the pipeline products.
Market Competition:
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Nitric Oxide Therapy Systems market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
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End Users
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
