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Renal Denervation Market growth outlook with industry review and forecasts

Author : Rahul Sankrityayan | Published Date : 2019-03-19 

Renal Denervation Market size is projected to experience significant growth from 2019 to 2025. Availability of improved technology, such as radiofrequency-based catheter for renal sympathetic denervation is another reason owing to the growth of the market. Better healthcare infrastructure in developing economies are also contributing towards the rapid growth of  renal denervation market.

Renal denervation market will witness a significant growth in the near future due to growing incidence of therapy-resistant hypertension. It is one of the most rapidly growing diseases in the world. According to a recent article, in 2014, hypertension was the primary cause contributing to the death of more than 410,000 individuals in America. Hence, it is driving the demand for renal denervation devices.

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Renal denervation is a complicated procedure when compared to drug-induced therapies for the monitoring of blood pressure, hence it can hamper the market growth. Furthermore, the stringent regulatory guidelines for product approval in most countries can also be a hindrance in the growth of renal denervation market during the forecast period.

Radiofrequency ablations are estimated to witness substantial amount of growth in the forecast timeframe. Increasing use of such technology in the field of cardiology, pain management and oncology will result in high product demand. Also, technological advancement pertaining to renal denervation systems will assist the market to grow at a considerable pace.

Based on products, the renal denervation market is categorized into Symplicity, Iberis, EnligHTN, Vessix (V2), Paradise and others. Among these products, Symplicity is estimated to capture the largest market share. It is used in the monitoring of hypertension and has been approved by the Centers for Medicare and Medicaid Services (CMS) and the U.S. Food And Drug Administration (FDA), and also assisted the product for global coverage, hence driving the segmental market growth.

Hospitals as an end-use will hold substantial market share, as large number of these products are available in hospital settings. Increase in demand for renal denervation systems in hospitals for applications in the treatment of various medical conditions will augment the growth of the market.

Europe renal denervation market is estimated to hold majority of market share owing to widespread availability of technologically advanced medical applications, and growing demand for accurate and low-risk surgeries in the country. Other factors such as growth in technological advancements and increase in number of drug-resistant hypertension cases will propel the market growth in the region.

Some of the key industry players operating in renal denervation market are Medtronic, Kona Medical, Abbott, CardioSonic, Boston Scientific Corporation, Recor Medical, Inc., Bioscience Webster Inc., Ablative Solutions, Inc., Covidien PLC and others. These companies opt for mergers, acquisitions and partnerships in order to increase their efficiency and sustain in the market by providing better solutions. Additionally, such companies focus on innovative technologies related to renal denervation in growing economies to enhance their product portfolio.
 

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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