Renal Denervation Devices Market : Business Growth, Development Factors, Applications, and Future Prospects
Transparency Market Research (TMR) has published a research study on the global renal denervation devices market, expecting it to rise at an exponential CAGR of 41.20% during the period from 2012 to 2021 and reach a value of US$1.9 bn by the end of the forecast period.The market report, titled “Renal Denervation Devices Market – Global Industry Analysis, Size, Share, Growth, and Forecast 2012 – 2021,” further states that the worldwide market for renal denervation devices stood at US$88.5 mn in 2012.
Renal denervation is a relatively new therapy for the treatment of uncontrolled hypertension. It is a minimally invasive procedure and reduces the blood pressure by ablating renal nerves. Hypertension is regarded as a modifiable health risk and is often associated with morbidity and mortality due to its association with cardiovascular diseases. The development of catheter-based interventional therapies to interrupt renal sympathetic nervous system has shown impressive results in ensuring better blood pressure control in patients complaining of resistant hypertension. This, coupled with the increasing prevalence of uncontrolled as well as drug-resistant hypertension, is stimulating the demand for renal denervation procedures in the global arena.
The report has analyzed the global renal denervation devices market on the basis of products, technology, and its regional spread. Symplicity, OneShot, EnligHTN, V2, TIVUS, Paradise, Bullfrog, and Surround Sound have been identified as the main products available in this market.
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Based on technology, this market has been classified into radiofrequency renal denervation devices, micro-infusion renal denervation devices, and ultrasound renal denervation devices.The research report regionally segments the global market for renal denervation devices into Asia Pacific, North America, and the Rest of the World. As per the market study, Europe is the leading regional renal denervation devices market.
In 2012, Europe held a share of 80% in the global renal denervation devices market. Analysts project the region to retain its dominance over the forecast period. The rising research activities in Europe for the further development of renal denervation procedures is fueling the demand from the market in this region.
The Asia Pacific renal denervation devices market has occupied the second position in the global market and is likely to retain its position during the forecast period. The rising geriatric population in Asia Pacific, coupled with a large patient pool suffering from diabetes, is driving the demand for renal denervation devices market in this region, states the market report.
The report also expects the markets for renal denervation devices in North America and the Rest of the world to show healthy growth. The increasing approvals of these devices from the U.S. FDA are driving the North America renal denervation devices market, whereas the Rest of the World market is led by the rising incidence of lifestyle-related cardiovascular disorders, notes the study.
Some of the key manufacturers of renal denervation devices mentioned in this research study are Medtronic Inc., St. Jude Medical, Kona Medical, Boston Scientific Corp., Mercator Medsystems, Covidien Plc., and CardioSonic.
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