“The global renal denervation market is anticipated to surpass USD 70 Million by 2020”, says Visiongain

07 November 2019
Pharma

Visiongain has launched a new pharma report “Renal Denervation Market Report 2020-2030” Prospects by Technology (Ultrasound Ablation, Radiofrequency Ablation, Pharmacologic Ablation, Microinfusion), Product {Catheters (Single Electrode Catheter, Multi Electrode Catheter), RF Generator, Nerve Modifying Agents}, End use (Diagnostic Centers and Hospitals, Research & Academia, Ambulatory Care Centers), and Geography.

Global renal denervation market is projected to grow on account of rising prevalence of hypertension, changing lifestyle, and improvement of healthcare facilities in developing economies. The global renal denervation market is projected to grow at a lucrative CAGR of ~45% over the forecast period from 2020 to 2030 and is anticipated to surpass USD 70 Million by 2020.

During the forecast period, the global renal denervation market is projected to experience robust growth. This is expected to be driven by major factors such as rising hypertension prevalence, growing geriatric population, medical advantages such as fast recovery time with minimal complications, advances in technology to develop alternative technologies. Increasing clinical trials to validate the clinical effectiveness of renal denervation and the cost-effectiveness of these procedures over conventional surgeries are also anticipated to offer high growth opportunities for companies operating in the renal denervation market. However, during the forecast period, strict regulatory requirements for consumer approval are likely to hamper sustainable market growth for the renal denervation market.

Based on technology, the global renal denervation market is segmented into ultrasound ablation, radiofrequency ablation, pharmacologic ablation, microinfusion. Due to advantages, such as security and time efficiency, the radio frequency segment accounted for more than 65% of the total market share in 2018. Ultrasound segment is projected to grow with the highest CAGR as it overcomes the restrictions/limitations of radiofrequency (RF) based systems. Also, ultrasound energy ablates the nerves without being in direct contact with the tissues, thereby reducing renal artery injuries.

In 2018, Europe dominated the renal denervation market and is expected to continue a similar trend over the forecast period. This is attributed to the growing R&D activities in efficient device development. Increasing drug-resistant hypertension cases will also lead to the growth of the region. As reported by the National Center for Biotechnology Information (NCBI), hypertension cases in the United Kingdom rose from 3.79 cases per 100 people in 2000 to 6.46 cases per 100 people in 2015. Also, new product approval is expected to stimulate market growth in the European region.

North America is anticipated to follow Europe during the forecast period owing to the increasing number of FDA approvals submissions in the U.S. For example, Medtronic has obtained FDA approval to launch a key investigational product exemption (IDE) trial in patients with hypertension to test the process of Symplicity Spyral renal denervation. One of the key factors responsible for the growth of the region is also the growing incidence of uncontrolled hypertension.

Asia Pacific region is anticipated to experience the fastest growth over the forecast period owing to growing cases of obesity, rising number of diabetic patients, and other lifestyle diseases. Also, the presence of a large patient pool in developing economies such as India, China, and Japan is anticipated to boost market growth for renal denervation.

Some of the major players operating in this industry are Abbott, Ablative Solutions, Bioscience Webster Inc., Boston Scientific Group, CardioSonic, Cordis Corporation, Covidien PLC, Hansen Medical, Kona Medical, Medtronic, Mercator MedSystems, ReCor Medical, Renal Dynamics, St. Jude Medical, Symple Surgical, and Terumo Corporation among other prominent players.

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongain.com or call her on +44 (0) 207 336 6100.

About Visiongain
Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.

Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.

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