Renal denervation: Key market research findings
- Europe dominates the market geographically
- Increasing popularity of minimally invasive procedures drives market growth
- Key vendors – Boston Scientific, Medtronic, ReCor Medical, and St. Jude Medical
Technavio’s market research analysts predict the global market for renal denervation to grow at a CAGR of around 12% between 2016 and 2020. The growth of this market is spurred by the increasing use of minimally invasive procedures. The rise in the use of minimally invasive catheter-based endovascular procedure for managing hypertension is leading to the higher adoption of renal denervation devices. These devices are safe and effective and reduce cardiometabolic risks. During 2015, Europe accounted for more than 57% of the overall market share to become the dominant shareholder in the global renal denervation market. A rise in the number of cases of drug-resistant hypertension will boost growth in the renal denervation market in Europe during the forecast period.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Organizations and institutes are investing in the development of cost-effective, safe, and efficient hypertension therapies to lower the expenses on treatment procedures. The Health Research Council/National Health Committee Health Innovation Partnership funded a nationwide project in New Zealand for a duration of two years to compare the efficacy of comprehensive clinical management approach against renal denervation — a half-hour procedure that sends nerve signals to the kidney for reducing blood pressure in 2014. Such funding will help in the establishment of renal denervation as an effective treatment option, leading to the development of innovative devices,” says Barath Palada, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
Manufacturers in the market are emphasizing on the development of new catheter-based devices to simplify the technicality and shorten the duration of renal denervation procedures. For instance, St. Jude Medical’s EnligHTN multi-electrode renal denervation system uses a basket catheter that contains four electrodes, one in each strut of the basket. These struts expand to establish a contact between the electrodes and vessel walls. Such innovations are expected to reflect positively on the overall growth of the market by 2020.
The key vendors in the market include Boston Scientific, Medtronic, ReCor Medical, and St. Jude Medical. The global renal denervation market is growing, with vendors such as Medtronic, St. Jude Medical, ReCor Medical, and Boston Scientific developing advanced devices with each clinical trial. Medtronic was the leading contributor to the market in 2015. The company offers SYMPLICITY systems, which are the most used devices worldwide. Medtronic enrolls the highest number of individuals in its clinical trials. It enrolled 153 test subjects and 106 individuals for its SYMPLICITY HTN-1 and SYMPLICITY HTN-2 clinical trials, respectively.
A more detailed analysis is available in the Technavio report, Global Renal Denervation Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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