Renal Denervation Devices Market Opportunity Assessment And Supply Chain Analysis Report 2033


Posted February 13, 2024 by SushmithaTBRC

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 Renal Denervation Devices Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).

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In accordance with The Business Research Company's Global Market Report for Renal Denervation Devices 2024, the market has witnessed remarkable growth, soaring from $0.42 billion in 2024 to an estimated $0.57 billion, reflecting an impressive Compound Annual Growth Rate (CAGR) of 35.1%. This expansion during the historical period is attributable to heightened cases of hypertension, intensified clinical research, a surge in cardiovascular diseases, initial FDA approvals, and regulatory advancements, including the market entry of renal denervation systems.

Projections for the renal denervation devices market anticipate an extraordinary surge in the coming years, reaching $1.73 billion by 2028 at a CAGR of 32.3%. This anticipated growth is underpinned by a patient-centric approach, ongoing healthcare infrastructure development, heightened awareness and acceptance, a focus on minimally invasive therapies, and the introduction of new devices. Notable trends in the forecast period encompass the integration of Artificial Intelligence (AI) and machine learning, alterations in the regulatory landscape, a notable shift towards minimally invasive procedures, emphasis on clinical evidence, and the seamless integration of remote monitoring and telehealth.

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 2024, 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.

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The renal denervation devices market covered in this report is segmented –
1) By Product: Simplicity Renal Denervation System, EnligHTN, Vessix Renal Denervation System, Iberis Renal Sympathetic Denervation System, Paradise Renal Denervation System, Other Products
2) By Technology: Radio Frequency Ablation, Ultrasound Energy-Based RDN, Brachytherapy, Chemical Ablation, Other Technologies
3) By End-Users: Hospitals, Cardiovascular research centre, Other End-Users

A pivotal trend dominating the renal denervation devices market is product innovation. Key industry players are strategically investing in the development of groundbreaking products to fortify their market positions and gain a competitive edge. An illustrative example is ReCor Medical Inc., a US-based medical device company, which launched the Paradise Ultrasound Renal Denervation System in October 2021. This system, a minimally invasive procedure utilizing non-focused ultrasound, effectively targets overactive nerves leading to the kidney, resulting in a demonstrable reduction in blood pressure compared to a sham procedure. This underscores the industry's commitment to advancing therapeutic solutions and meeting the evolving needs of patients.

The renal denervation devices market report table of contents includes:
1. Executive Summary
2. Renal Denervation Devices Market Characteristics
3. Renal Denervation Devices Market Trends And Strategies
4. Renal Denervation Devices Market - Macro Economic Scenario
5. Global Renal Denervation Devices Market Size and Growth

.....

26. Global Renal Denervation Devices Market Competitive Benchmarking
27. Global Renal Denervation Devices Market Competitive Dashboard
28. Key Mergers And Acquisitions In The Renal Denervation Devices Market
29. Renal Denervation Devices Market Future Outlook and Potential Analysis
30. Appendix

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Last Updated February 13, 2024