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04-Sep-2019

At 15.2%+ CAGR, Renal Denervation Market Size Valued At Around US$ 0.24 Bn in 2019

New York City, NY: Sept 04, 2019 – Published via (Wired Release) – Renal denervation or renal sympathetic denervation is a type of minimally invasive procedure which involves endovascular access from femoral artery using catheter-mounted device into the renal artery. The device uses radiofrequency ablation or ultrasound ablation for the treatment of resistant high blood pressure which is unable to control by medication. Renal denervation reduces sympathetic efferent activity to the kidney and thus reducing the blood pressure.

The first five-year cumulative revenue (2019–2023) is projected to be over US$ 1.5 Bn, which is estimated to increase considerably over the latter part of the five-year forecast period. The global renal denervation market is estimated to value at nearly US$ 0.24 Bn in 2019, and is expected to register a CAGR of 15.2 %.

Global Renal Denervation Market: Market Dynamics

Increasing incidence of hypertension across the globe is a key factor expected to drive revenue growth of the of the target market. Growing prevalence of cardiovascular diseases coupled with increasing cases of drug-resistant hypertension are other factors expected to drive growth of the target market in the next coming years. Increasing geriatric population across the globe has prompted the development of advanced renal denervation products to treat blood pressure, heart failure, diabetes, and renal failure more efficiently and improve quality of life, which in turn drive growth of the global renal denervation market over the forecast period.

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However, stringent regulations for invasive devices is a factor expected to hamper growth of the Europe market over the forecast period.

Increasing number of clinical trials are ongoing and some new techniques being worked on, owing to higher demand for novel therapeutic treatment and medical devices, coupled with rising investment in research and development activities.

  • In June 2019, National Institutes of Health (NIH), which is a US-based medical research center, announced a study of clinical Trial: A Phase 3, Multicenter, Blinded, Sham-Procedure Controlled Trial of Renal Denervation by the Peregrine System Kit, in Subjects with Hypertension, and is expected to complete by 2023

Global Renal Denervation Market: Market Forecast

The comprehensive research report comprises a complete forecast of the global renal denervation market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global renal denervation market is expected to expand at a moderate CAGR of 15.2% during the forecast period.

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Global Renal Denervation Market: Segmental Snapshot

The market report has been segmented on the basis of technology, product type, indication, and end user. The technology segment includes ultrasound ablation, radiofrequency ablation, and pharmacologic ablation. The product type segment includes catheters- single electrode catheter, and multi electrode catheter, generator, and nerve modifying agents. the indication segment includes hypertension, heart failure, diabetes, and renal failure. the end user segment includes hospitals, specialty clinics, research and academic institutes, and ambulatory care centers

By Technology: The radiofrequency ablation segment accounted for highest revenue share contribution, and is expected to maintain its dominance over the forecast period. The radiofrequency ablation segment is projected to register highest CAGR of over 15.8% over the forecast period.

By Product Type: The catheters segment accounted for highest revenue share contribution, and is expected to maintain its dominance over the forecast period. The catheters segment is projected to register highest CAGR of over 15.6 % over the forecast period.

By Indication: The hypertension segment accounted for highest revenue share contribution and is expected to maintain its dominance over the forecast period. The hypertension segment is projected to register a CAGR of over 15.4 % over the forecast period.

By End User: The market in hospitals accounted for highest revenue share in the global renal denervation market in 2019. The hospitals segment is projected to register highest CAGR of over 16.0% over the forecast period.

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Global Renal Denervation Market: Competitive Analysis

The research report on the global renal denervation market includes profiles of some of major companies such as Medtronic, Plc., Boston Scientific Corporation, St. Jude Medical, Inc., ReCor Medical, Inc., Cordis Corporation, Terumo Corporation, Mercator Medsystems, Inc., Kona Medical, Inc., Cardiosonic Ltd., and Covidien PLC.

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Last Updated: 04-Sep-2019