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Innovative Study Focusing on Renal Denervation Market Expects to See Significant Growth during 2014-2022 Top Manufacturers: blative Solutions, Inc., Boston Scientific Corporation, Cardiosonic Ltd and More

06-10-2019 07:08 AM CET | Health & Medicine

Press release from: Allied Market Research

Renal Denervation Market

Renal Denervation Market

Symplicity is the major and most frequently used product of the renal denervation market. According to the CIRSE Member Survey (2013), Symplicity is used by approximately 78% of the European hospitals. This system is generally preferred as it delivers low level of RF energy and thus reduces the potential risks associated with high levels of RF radiation on body tissues.

Renal Denervation Market Report, published by Allied Market Research, forecasts that the global market was valued at $197 million in 2015, and is expected to reach $3,153 million by 2022, supported by a CAGR of 48.5% during the forecast period 2014 - 2022. Symplicity Renal Denervation System is estimated to continue generating highest revenue throughout the forecast period, owing to growing number of product approvals across the globe. Europe held the leading position in the global market in 2015, and is expected to maintain its lead in the future.

Key players have adopted product development as their key strategy to cater to the changing needs of the industry. Major players operating in this market include Ablative Solutions, Inc., Boston Scientific Corporation, Cardiosonic Ltd, Kona Medical, Inc., Medtronic plc, Mercator MedSystems, Inc., ReCor Medical, Inc., Renal Dynamics Limited, St. Jude Medical, Inc., and Terumo Medical Corporation. As of 2015, Medtronic dominated the overall renal denervation market, followed by St. Jude Medical.

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Increasing prevalence and incidence of hypertension and blood pressure, changing lifestyle of the people, improvement of healthcare infrastructure in developing countries, and cost effectiveness of the renal denervation procedure as compared to other multidrug treatment therapies propel the market growth. However, stringent approval process for renal denervation devices, and patient discomfort and pain that arises during the procedure hamper the market growth.

Vessix Renal Denervation System is projected to be the fastest growing segment, with a CAGR of 57.6% from 2016 to 2022, as this system can be used for arteries of variable diameter (has a balloon that can be expanded into variable sizes). In addition, it uses a full-color graphic user interface that increases the accuracy and operation of the device. Boston Scientific, manufacturer of Vessix Renal Denervation System, considers this market to be a potential growth opportunity for expanding its business.

Radiofrequency was the most frequently used technology in the renal denervation market. In addition, it was the major segment in 2015 and is expected to lead throughout the forecast period. Ultrasound is projected to grow at the highest CAGR of 56.4%, as it overcomes the limitations of radiofrequency devices.

Key findings of Renal Denervation Market:

• On the basis of product type, the Symplicity Renal Denervation System segment accounted for the largest share, while Vessix Renal Denervation System is projected to grow at the fastest rate.
• Radiofrequency segment dominated the overall renal denervation market.
• Utrasound is poised to grow at the highest CAGR of 56.4% during the analysis period.
• Europe was the leading geographic market in 2015, and it is projected to lead for the next few years.
• Asia-Pacific is projected to grow at the highest CAGR of 50.6%.

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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.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

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