Renal Denervation Devices Market 2024: Size, Trends, Share, and Global Industry Report

The Business Research Company recently released a comprehensive report on the Global Renal Denervation Devices Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The renal denervation devices market size has grown exponentially in recent years. It will grow from $0.42 billion in 2023 to $0.57 billion in 2024 at a compound annual growth rate (CAGR) of 35.1%. The growth in the historic period can be attributed to increased hypertension cases, clinical research and studies, increased in cardiovascular diseases, initial fda approval and regulatory developments, market entry of renal denervation systems.

The renal denervation devices market size is expected to see exponential growth in the next few years. It will grow to $1.73 billion in 2028 at a compound annual growth rate (CAGR) of 32.3%. The growth in the forecast period can be attributed to patient-centric approach, healthcare infrastructure development, growing awareness and acceptance, focus on minimally invasive therapies, market entry of new devices. Major trends in the forecast period include integration of artificial intelligence (ai) and machine learning, regulatory landscape changes, shift towards minimally invasive procedures, emphasis on clinical evidence, remote monitoring and telehealth integration.

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Market Drivers and Trends:

Increased prevalence of hypertension is expected to drive the growth of the renal denervation devices market growing forward. Hypertension, also known as high blood pressure, is a condition in which the force of blood flowing through the blood vessels is consistently too high. Renal denervation is a catheter-based procedure that has emerged as a potential therapeutic option for patients with resistant hypertension. Renal denervation is a minimally invasive, investigational procedure to treat hypertension that hasn't responded to medication. For instance, in January 2023, according to a report published by the Mississippi State Department of Health, a US-based Mississippi state health agency, nearly 1 million adult Mississippians (43.9%) had high blood pressure as of the year 2021. In 2021, MS had a prevalence of hypertension that was 36.3% higher than the US average (MS: 43.9%, US: 32.2%). Therefore, the increased prevalence of hypertension will promote the growth of the renal denervation devices market.

Product innovation is a key trend gaining popularity in the renal denervation devices market. Major companies operating in the renal denervation devices market are focused on developing innovative products to strengthen their position and gain a competitive advantage. For instance, in October 2021, ReCor Medical Inc., a US-based medical device company launched Paradise Ultrasound Renal Denervation System for hypertension treatment. This system is a minimally invasive procedure that uses non-focused ultrasound to treat overactive nerves leading to the kidney. The Paradise System has been shown to successfully reduce blood pressure compared to a sham procedure.

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Major Key Players of the Market:

Boston Scientific Corporation; CardioSonic Ltd.; Kona Medical Inc.; Medtronic plc; Mercator MedSystems Inc.; ReCor Medical; Abbott Laboratories; Ablative Solutions Inc.; Terumo Corporation; Symple Surgical Inc.; St. Jude Medical Inc.; Johnson & Johnson Services Inc.; Theragenics Corporation; Vascular Dynamics Inc.; Otsuka Holdings Co. Ltd.; Cardiovascular Systems Inc.; Celonova Biosciences Inc.; Concept Medical Inc.; Cook Medical LLC; Cardinal Health Inc.; Creganna Medical; Endologix Inc.; Endospan Ltd.; Enopace Biomedical Ltd.; InspireMD Inc.; MicroPort Scientific Corporation; Miracor Medical Systems GmbH; Nexeon MedSystems Inc.; Asahi Kasei Corporation; Thermocool Limited

Renal Denervation Devices Market 2024 Key Insights:

• The renal denervation devices market will grow to $1.73 billion in 2028 at a compound annual growth rate (CAGR) of 32.3%.
• The Surge In Renal Denervation Devices Market Fueled By Escalating Hypertension Rates
• Renal Denervation Devices Market Surges With Cutting-Edge Product Developments
• Europe was the largest region in the renal denervation devices market in 2023

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