Global Renal Denervation Devices Market: Snapshot
At the forefront of driving the global renal denervation (RDN) devices market is the rising cases of hypertension particularly among the urban denizens. This is because renal sympathetic nerves are affected directly by hypertension. Another factor serving to boost the global renal denervation (RDN) market is the growing pool of elderly and emergence of better RDN devices.
However, one problem besetting the global renal denervation devices market is the inadequate clinical data which creates hurdles in getting approvals from regulatory bodies for new products. This is somewhat hampering the market growth at present. Leading players with means have nonetheless managed to get approvals for their products because of their cutting-edge research and development facilities innovating on existing products. So far, just five devices have managed to get a regulatory nod for usage. They are now CE certified.
At present, the global renal denervation devices market is consolidated with leading player Medtronic holding most of the share in it. In the near future, the market might see new entrants denting shares of established players. A report on the global renal denervation devices market finds that it is rising at a phenomenal CAGR and would likely pull in a value of US$1.9 bn by 2021.
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Radiofrequency-based RDN Devices See Surging Demand owing to Safety they Accord
Technology-wise, the key segments of the global renal denervation devices market are renal sympathetic denervation procedure, ultrasound- based renal denervation systems, micro-infusion catheter-based renal denervation systems, and radiofrequency-based renal denervation systems. Among them, currently, the radiofrequency-based RDN devices holds maximum share in the market. This is because of the advantages it accords. Those include safety and time-efficiency.
Some of the key products available in the global renal denervation devices market are Boston Scientific’s (Vessix Vascular) V2, ReCor Medical’s Paradise, St. Jude’s EnlighHTN, Medtronic’s Symplicity, and Covidien’s OneShot. While Medtronic’s Symplicity held an outsize share in overall sales in the market a while back, newer products are giving it tough competition these days.
Europe Largest and Fastest Growing Market
Geographically, the global renal denervation devices market is spread across North America, Asia Pacific, Europe, and the Rest of the World. Among them, Europe at present holds the tag of both the biggest and fastest growing market. The region is seeing double digit growth. North America is another key renal denervation devices market which is witnessing solid growth owing to the FDA approvals of new products. Rising occurrence of cardiovascular diseases in the region too is having a positive impact on demand. Meanwhile, the Asia Pacific renal denervation market is also showing a lot of promise. This is mainly because of the high occurrence of diabetes which is boosting demand in the regions. Developing economies of India and China are main drivers of the region’s market growth because of their large populations.
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Some of the prominent participants in the global renal denervation devices market are Kona Medical, Medtronic Inc., St. Jude Medical, Boston Scientific Corporation, Mercator Medsystems, Covidien PLC, and CardioSonic.
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This post was originally published on The Market Plan