Global Renal Denervation Devices Market, by Product Type (Simplicity Renal Denervation System, Vessix Renal Denervation System, EnligHTN, Paradise Renal Denervation System, Iberis Renal sympathetic Denervation System, and Others), by Technology (Radiofrequency and Ultrasound), by End user (Hospitals, Ambulatory Surgical Centers, Others) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 88.6 million in 2017, and is projected to exhibit a CAGR of 35.5% over the forecast period (2018 – 2026), as highlighted in a new report published by Coherent Market Insights.
Increasing approval of novel products and clinical trials is expected to augment the market growth
Key players in the market are focused on conducting clinical trials and launching novel renal denervation devices in order to enhance their market share. For instance, in November 2018, Medtronic Plc. received approval from the U.S. Food & Drug Administration (FDA) to conduct clinical trial for Symplicity Spyral renal denervation device in patients who show resistance to medication due to their high blood pressure.
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Similarly, in July 2018, Recor Medical, Inc. received the U.S FDA approval for new pivotal study (RADIANCE-II), using the Paradise ultrasound denervation system for the treatment of hypertension. Moreover, in August 2013, St. Jude Medical, Inc. received approval for its next-generation EnligHTN renal denervation system for treating patients with drug-resistant, uncontrolled hypertension in Europe.
Browse 38 Market Data Tables and 34 Figures spread through 184 Pages and in-depth TOC on ‘Renal Denervation Devices Market’- Global Forecast to 2026, by Product Type (Simplicity Renal Denervation System, Vessix Renal denervation System, EnligHTN, Paradise Renal Denervation System, Iberis Renal sympathetic Denervation System, and Others), by Technology (Radiofrequency and Ultrasound), by End user (Hospitals, Ambulatory Surgical Centers, Others) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Key players in the market are focused on adopting strategies such as mergers and acquisitions to enhance their product portfolio. For instance, in November 2012, Boston Scientific Corporation signed a definitive agreement to acquire Vessix Vascular, Inc., a privately held company based in Laguna Hills, California. This collaboration helped to extend Boston Scientific Corporation’s reach into the renal denervation devices market.
Key Takeaways of the Renal Denervation Devices Market:
The global renal denervation devices market is expected to exhibit a CAGR of 35.5% over the forecast period, owing to increasing prevalence of hypertension
Among product type, the simplicity renal denervation system segment held a dominant position in the renal denervation devices market in 2017, owing to high adoption of simplicity renal denervation system for the treatment of resistant hypertension.
Among technology type, radiofrequency segment held a dominant position in the renal denervation devices market in 2018. As radiofrequency selectively disrupts sympathetic nerve fibers without causing adverse effects in other organs.
Key players operating in the global renal denervation devices market include, Jude Medical, Inc., ReCor Medical Inc., Boston Scientific Corporation, Cardiosonic Ltd, Medtronic Plc., Kona medical, Inc., Mercator Medsystems, Inc., Terumo Corporation, Abbott Laboratories, and Theragenics Corporation
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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