Global Renal Denervation Market Worth Around $1.01 Billion By 2026: Acumen Research And Consulting

Author: Acumen Research and Consulting

The global renal denervation market size was reached at USD 41.5 million in 2017 and is expected to grow at a CAGR of 41.2% during the forecast period. Increasing cases of therapy-resistant hypertension is among one of the prime growth-driving factors for the global renal denervation market. Hypertension is a long term medical condition and is among the most common diseases in the world also without any major symptoms.

The global renal denervation market in developed economies, such as Italy, the U.K., and France, is moderately mature as compared to other developing and under-developed economies attributable to the presence of major companies in these countries and high awareness and demand among the population for such products. Europe constituted the largest share due to the technological advancements and increase in number of drug-resistant hypertension cases in the regional market.

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In contrast, developing countries such as in the regions Latin America and Asia are expected to experience the fastest growth due to increased consumer disposable income and economic growth. Additionally, increased elderly population coupled with high incidences of diabetes in these regions is likely to boost the market growth during the period.

Availability of improved and alternative technology, such as micro-infusion, for renal denervation systems and better healthcare infrastructures in emerging economies are also expected to enhance market growth. For instance, Mercator MedSystem’s micro-infusion based renal denervation system, reduces the blood pressure in patients, by delivering to its agents at a specific site to denervate the renal artery.

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In 2013, according to the Centers for Disease Control and Prevention (CDC), over 3.6 lakh people in the U.S. died because of high blood pressure. The occurrence of hypertension has augmented from 17,307 per 100,000 in 1990 to 20,525 per 100,000 in 2015. However, the renal denervation therapy has also shown a optimistic result in minimizing hypertension. Consequently, the advantages offered by such therapies, for instance reduced treatment time, higher safety, and permanent effect are boosting the market growth. Moreover, technological advancement in renal denervation devices is likely to drive the market.

The global renal denervation market is segmented into technology, and region. On the basis of product the global renal denervation market is segmented into micro-infusion, ultrasound, and radio frequency-based. On the basis of region the global renal denervation market is segmented into Latin America, Europe, Asia Pacific, North America, and Middle East & Africa.

The radio frequency segment among the technologies held over 75% of the total market share in 2017, owing to its benefits, such as time efficiency and better safety. Ultrasound segment is expected to expand at the highest CAGR during the forecast period, as it overcomes the restrictions of radio frequency based systems. Ultrasound energy with high-frequency sound waves reducing injuries to the renal arteries as it ablate the nerves without getting in direct contact with the tissues.

In 2017, Europe led the renal denervation market in terms of regions and is anticipated to maintain the dominance even during the forecast period. North America renal denervation market is projected to follow Europe, in terms of revenue generation, during the forecast period due to the increasing number of filings for FDA approvals in the U.S. Rising occurrence of uncontrolled hypertension is also one of the key factors responsible for the North America renal denervation market growth. Asia Pacific renal denervation market is anticipated to experience the fastest growth over the forecast period owing to rising cases of obesity, diabetes, and other lifestyle related diseases. Also, the presence of a large target population base in developing economies like China and Japan are the main drivers for the market growth in Asia Pacific region.

The key players catering to the global renal denervation market are Medtronic PLC; Cardiosonic, Inc.; Kona Medical, Inc.; Abbott Laboratories; Ablative Solutions, Inc.; Renal Dynamics; Mercator MedSystems, Inc.; ReCor Medical, Inc.; Boston Scientific Corp.; and Symple Surgical, Inc. The global players are continuously investing in R&D activities and innovating to have updated technology based product portfolio to attract more and more business opportunity from the emerging nation such as that in Asia Pacific countries.

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