Renal Denervation Market to Hit $2,850 Million by 2023
The global renal denervation market is expected to rise at a solid CAGR of 40.4% over the 2018-2023 forecast period, according to a new research report from Market Research Future (MRFR). The market’s value is expected to rise from USD 200 million in 2017 to USD 2,850 million in 2023.
Leading players in the global renal denervation market include Boston Scientific, Medtronic, ReCor Medical, St. Jude Medical, Cardiosonic, Cordis, Kona Medical, Sound Intervention, and Terumo.
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The global renal denervation market is expected to be driven mainly by the rising prevalence of hypertension around the world. Hypertension has been one of the main beneficiaries of the modern lifestyles and dietary patterns, and has grown in prevalence steadily over the last decade and more. This trend is likely to be followed over the coming years as more countries experience the negative effects of rapid urbanization and wide-scale industrialization on the health of the population. Hypertension is likely to be one of the diseases on the rise in developing countries that are pursuing large-scale urbanization and industrialization, leading to favorable growth prospects for the renal denervation market in emerging economies such as China and India.
The global renal denervation market is segmented on the basis of product, technology, and end use.
Global Renal Denervation Market by Product
- Vessix (V2)
Global Renal Denervation Market by Technology
Global Renal Denervation Market by End-user
- Ambulatory Surgical Centers
Renal Denervation Market Regional Analysis:
By region, the global renal denervation market is segmented into North America, Europe, Asia Pacific (APAC), and Rest of the world.
Europe is likely to dominate the global renal denervation market over the forecast period due to the strong research infrastructure in the region and the increasing development of progressively more advanced renal denervation devices. The increasing prevalence of drug-resistant hypertension in Europe is further likely to drive research in the renal denervation market, ensuring Europe’s dominance in the renal denervation market over the forecast period.
Asia Pacific is also likely to be a major regional market for renal denervation over the forecast period due to the growing prevalence of hypertension and the steady improvement in healthcare infrastructure. This is likely to ensure widespread availability of renal denervation devices as well as increasing research into product development to produce more advanced renal denervation devices over the forecast period.
The renal denervation market is hamstrung by challenging government regulations in regions such as the U.S. Medtronic recently announced the launch of a new placebo-controlled randomized clinical trial in an effort to get regulatory approval in the U.S., a major commercial market for high blood pressure remedies.
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