Renal denervation is a minimally invasive catheter-based procedure to treat hypertension. The procedure is generally opted in cases where drug therapies are unable to provide relief. It includes ablation of the nerves of renal artery wall by the use of radiofrequency pulses or ultrasound. This reduces sympathetic kidney activity, which further leads to a reduced blood pressure.
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The Global renal denervation market was $197 million in 2015 and is expected to reach $3,153 million by 2022 with a CAGR of 48.5%. The market is driven by many factors such as changes in lifestyle, which leads to resistant hypertension, increasing prevalence of hypertension, technological advancements to develop alternative technologies (such as micro-infusion) for renal denervation systems. However, stringent regulatory norms for renal denervation devices, and unfavorable reimbursements for renal denervation procedure have restricted the market growth.
According to the analysis carried out for each segment, the Symplicity Renal Denervation System accounted for the largest market share in 2015. 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. Above all, the device provides a minimally invasive method to treat excessive hypertension. In addition, the Vessix Renal Denervation System is expected to have the highest growth rate as it uses a full-color graphic user interface that increases the accuracy and operation of the device. This feature enables the Vessix system to be a preferred system by physicians as well as patients.
Australian Renal Denervation Market Snapshot:
Australia is considered to be a potential market for the growth of renal denervation devices in the coming future. The renal denervation systems, such as Symplicity Renal Denervation System and Vessix Renal Denervation System have received regulatory approvals from Therapeutic Goods Administration (TGA) in the region and are available for sales. The companies in this market have launched clinical trials in this region to check the effect of devices over patients’ health and test the device efficacy. In this regard, Medtronic launched Symplicity HTN-1, Symplicity HTN-2, and Symplicity-HF trials in Australia as well as some other geographical locations. Moreover, St. Jude Medical, Inc. also launched EnligHTN I, EnligHTN II, and EnligHTN III trials in many regions including Australia. Thus, the leading players are focusing on expansion in the Australian economy, which will lead to market growth in this region.
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Top Impacting Factors
Prevalence of hypertension
Hypertension is one of the most prevalent diseases in the world. According to the 2012 article of Journal of Hypertension, atrial hypertension affects approximately 25% of the global population. According to the 2011 statistics provided by the American Heart Association, approximately 33% (nearly 70 million people) of the U.S. adult population is suffering from high blood pressure.
Changing lifestyle of people
Major lifestyle changes such as smoking, alcohol consumption, increased consumption of ready to consume food products, and lack of physical activity of people increases the chance for hypertension and high blood pressure. Studies have revealed a clear link between the consumption of high levels of salt and rise in blood pressure.
Improvement of healthcare infrastructure in developing countries
Over the past decade, governments of various countries, especially emerging economies, have increased their expenditure on developing their healthcare infrastructure. According to The World Bank, China increased its healthcare expenditure from 5% in 2011 to 5.5 % of its GDP in 2015. Hence, increasing investment in the healthcare sector have attracted market players to invest in the renal denervation market.
Cost effectiveness of the Procedure
According to the 2012 article of Journal of the American College of Cardiology, the catheter-based renal denervation process is a cost-effective procedure to control resistant hypertension. This fact is also supported by a 2014 article of NCBI, which states that renal denervation is a cost-effective alternative when compared to anti-hypertensive pharmacological treatment.
Renal denervation is a painful procedure when compared to drug-based therapies for the control of blood pressure. The radiofrequency waves used during the process create ablations in the wall of renal artery. In addition, these waves also heat the arterial tissues and impose harmful effects on the wall of renal artery. These factors may hamper the market growth.
Stringent approval process for renal denervation devices
The approval processes in most counties are stringent for renal denervation devices, as these are highly specialized devices that are introduced in the body.
KEY BENEFITS OF RENAL DENERVATION MARKET:
- The study provides an in-depth analysis of the market with current trends and future estimations to elucidate the imminent investment pockets.
- The report provides a quantitative analysis from 2014 to 2022, which is expected to enable the stakeholders to capitalize on prevailing market opportunities.
- Extensive analysis by products interprets various types of devices used for renal denervation.
- Competitive intelligence highlights the business practices followed by leading players across different regions.
- Comprehensive analysis of all geographic regions are provided to determine the prevailing opportunities in these geographies.
- Key market players are profiled in the report and their strategies are analyzed thoroughly, which predicts the competitive outlook of the global market.
- Extensive analysis of the market is conducted by closely following key product positioning and monitoring the top contenders within the market framework.
RENAL DENERVATION MARKET KEY SEGMENTS:
Symplicity Renal Denervation System
Vessix Renal Denervation System
Paradise Renal Denervation System
Iberis Renal Sympathetic Denervation System
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
Chapter: 1 INTRODUCTION
1.1 Report description
1.2 Key benefits
1.3 Key market segments
1.4 Research methodology
1.4.1 Secondary research
1.4.2 Primary research
1.4.3 Analyst tools and models
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Chapter: 2 EXECUTIVE SUMMARY
2.1 CXO perspective
Chapter: 3 MARKET OVERVIEW
3.1 Market definition and scope
3.2 Key findings
3.2.1 Top investment pockets
3.2.2 Top winning strategies
220.127.116.11 Competitive intelligence of companies and their strategies
3.3 Porter’s five forces analysis
3.3.1 Bargaining power of the suppliers
3.3.2 Bargaining power of buyers
3.3.3 Threat of new entrants
3.3.4 Competitive rivalry
3.3.5 Threat of substitutes
3.4 Market share analysis, 2015
3.5 Market dynamics
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Global Renal Denervation Market 2022
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