Renal Denervation Devices Market to Expand at 41.2% CAGR due to Growing Prevalence of Hypertension
According to a recent market research report released by Transparency Market Research, the global renal denervation devices market is estimated to take a leap at a CAGR of 41.2% during the period between 2012 and 2021. The report, titled “Renal Denervation Devices Market - Global Industry Analysis, Size, Share, Growth, and Forecast 2012 - 2021”, projects the global renal denervation devices market to be worth US$1.9 bn in 2021. The overall market was worth US$88.5 mn in 2012.
Browse the full Global Renal Denervation Devices (Symplicity, EnligHTN, OneShot, V2, Paradise, TIVUS, Bullfrog, Surround Sound, Micro-Infusion, Ultrasound and Radiofrequency) Market - Global Industry Analysis, Size, Share, Growth, and Forecast 2012 - 2021 report at https://www.transparencymarketresearch.com/renal-denervation-devices-market.html
Growing prevalence of hypertension among urban population has significantly contributed to the growth of the global renal denervation devices (RDN) market. Renal sympathetic nerves are directly affected in hypertension. The report cites the increasing cases of treatment resistant hypertension and uncontrolled hypertension as the key factors driving the global renal denervation devices market. Short duration and permanent effect of renal denervation procedure will increase adoption of RDN devices. Further, rapid development of RDN devices and growing geriatric population worldwide will augment the growth of the global renal denervation devices market.
However, the report mentions that the shortage of clinical evidence is restraining the expansion of the global renal denervation devices market. Lower awareness of RDN devices as compared to drug-based therapy along with unstable reimbursement regulations will hinder the growth of the overall market during the forecast horizon. The report points out that the renal denervation devices market has a huge opportunity to grow in the emerging economies.
On the basis of technology, the global renal denervation devices market has been segmented into ultrasound- based renal denervation systems, renal sympathetic denervation procedure, radiofrequency-based renal denervation systems, and micro-infusion catheter-based renal denervation systems. In 2012, radiofrequency-based RDN devices accounted for the largest share of the market. Due to benefits such as time-efficiency and safety, radiofrequency-based RDN devices will continue to dominate the global renal denervation devices market.
On the basis of product, the report focuses on ReCor Medical's Paradise, Boston Scientific's (Vessix Vascular) V2, Medtronic's Symplicity, St. Jude's EnlighHTN, and Covidien's OneShot. In 2012, Medtronic’s Symplicity accounted for around 85.5% market share. However, during the forecast period, this product is expected to face stiff competition from other emerging products in the market.
The report studies the global renal denervation devices market across four key regions: Europe, North America, Asia Pacific, and Rest of the World. Europe leads the global renal denervation market owing to a large number of research and development activities and device approvals. The region held 80% of the market in 2012 and is estimated to dominate the overall market during the forecast horizon. Asia Pacific is expected to follow Europe as the second largest market for renal denervation devices.
The report profiles some of the key players in the global renal denervation devices market such as Medtronic Inc., Kona Medical, Boston Scientific Corporation, St. Jude Medical, Covidien PLC, CardioSonic, and Mercator Medsystems.
The research study has been segmented as below:
Renal Denervation Devices Market, by Technology
Renal Denervation Devices Market, by Product
Renal Denervation Devices Market, by Geography
- North America
- Asia Pacific
- Rest of the World
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