The global renal denervation market size is expected to reach USD 1.03 billion by 2026, according to a new report by the Grand View Research, Inc. The market is estimated to register a CAGR of 43.2% during the forecast period. Growing incidences of hypertension, changing lifestyle, and enduring effect of renal denervation procedure are the key factors driving market.
Increasing cases of uncontrolled and drug-resistant hypertension are expected to fuel the demand for renal denervation. As per the data published in November 2016, by the Centre for Disease Control and Prevention (CDC), about 75 million people in U.S. have high blood pressure. High blood pressure increases the risk of stroke and heart disease, a leading cause of deaths in America. Complications of hypertension causes 9.4 million deaths each year. Furthermore, hypertension is responsible for at least 51% of deaths due to stroke and 45% of deaths due to heart disease.
The renal denervation market in developed economies, such as U.K., France, and Italy, is comparatively mature owing to the presence of key companies in these countries and high demand for such products. Europe commanded the largest share owing to the rise in number of drug-resistant hypertension cases and technological advancements.
On the other hand, developing countries of Asia and Latin America are expected to witness the fastest growth due to economic growth and increased consumer disposable income. Further, growing elderly population coupled with high prevalence of diabetes in these region sis anticipated to propel the region’s development.
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Further key findings from the report suggest:
Ultrasound based renal denervation segment is projected to register a remarkable CAGR of 43.5% over the forecast period as it overcomes the limitation of radiofrequency devices
Europe led the renal denervation market in 2017 due to high number of drug-resistant hypertension cases and initiatives, such as R&D, for the development of effective devices
Asian countries are estimated to witness the highest growth over the forecast period, due to increasing target population coupled with rising prevalence of diabetes
Developing countries of China and India are the major drivers of the regional market due to populations
Key companies in the 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.
Grand View Research has segmented the global renal denervation market on the basis of technology and region:
Renal Denervation Technology Outlook (Revenue, USD Million, 2014 - 2026)
Radiofrequency Based Renal Denervation
Ultrasound Based Renal Denervation
Micro-Infusion Based Renal Denervation
Renal Denervation Regional Outlook (Revenue, USD Million, 2014 - 2026)
Middle East & Africa
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