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Renal Denervation Market Size Is Expected To Reach $ 3,153 million by 2022, Rising at a Market Growth of 48.5% CAGR During the Forecast Period

03-19-2019 07:36 AM CET | Health & Medicine

Press release from: Allied Market Research

Renal Denervation Market

Renal Denervation Market

According to the Renal Denervation Market Report issued by Allied Market Research, the world market is valued at $ 197 million in 2015 and $ 3,153 million by 2022,with a CAGR of 48.5% is expected. The Symplicity Renal Denervation System is estimated to continue to generate the highest revenue for the entire forecast period as the number of product approvals worldwide increases. Europe has taken a leading position in the global market in 2015 and is expected to remain at the forefront in the future.

Compared to multidisciplinary therapies, increased hypertension and blood pressure, changes in people's lifestyles, improved healthcare infrastructure in developing countries, and increased cost effectiveness of renal hair loss procedures promote market growth. However, patient inconvenience and suffering during strict approval procedures and procedures for kidney removal devices hinders market growth.

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The Vessix Renal Denervation System is expected to grow at its fastest rate, with an average annual growth rate of 57.6% from 2016 to 2022, as it can be used for variable diameter arteries (with variable size expandable balloons). It also uses a full color graphical user interface to enhance the accuracy and operation of the device. Boston Scientific, a manufacturer of the Vessix Renal Denervation System, thinks this market is a potential growth opportunity for business expansion.

Radiofrequency was the most frequently used technique in the kidney relief market. It was also a major sector in 2015 and is expected to play a leading role throughout the forecast period. Ultrasound is expected to grow to a high CAGR of 56.4% as it overcomes the limitations of wireless devices.

Key findings from the Renal Denervation Market:
• Based on product type, Symplicity Renal Denervation System sector is the largest and Vessix Renal Denervation System is expected to grow at the fastest rate.
• The Radiofrequency sector dominated the overall kidney relief market.
• Utrasound is expected to grow at a CAGR of 56.4% over the analysis period.
• Europe was a major geographic market in 2015 and is expected to continue over the next few years.
• The Asia-Pacific is expected to grow at an average annual rate of 50.6%.

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Europes' high share is due to the early start of this technology in European countries. In addition, most of the devices in this market are CE marked and can be sold in Europe. On the other hand, the North American market occupies a small percentage of the North American market because the kidney removal system is not approved by the FDA and is available for research purposes only. During the analysis period, Asia-Pacific is expected to grow at the fastest pace due to the presence of ample growth opportunities for unmet medical needs for hypertension treatment and increased awareness of the use of advanced technologies such as renal failure systems. The prevalence of resistant hypertension was high.

Major companies have adopted product development as a key strategy to meet changing industry needs. Key players in this market include Ablative Solutions, Inc., Boston Scientific Corporation, Cardiosonic Ltd, Kona Medical, Inc., Medtronic plc, Mercator MedSystems, ReCor Medical, Inc., Renal Dynamics Limited, Jude Medical, Inc. And Terumo Medical Corporation. As of 2015, Medtronic has dominated the overall kidney herniation market, followed by St. Jude Medical.

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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

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