New York, July 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Renal Denervation Devices Global Market Report 2023" - https://www.reportlinker.com/p06480083/?utm_source=GNW
, Terumo Corporation, Symple Surgical Inc., St. Jude Medical Inc., Johnson & Johnson Services Inc., Theragenics Corporation, Vascular Dynamics Inc., and Otsuka Holdings Co. Ltd.
The global renal denervation devices market is expected to grow from $0.31 billion in 2022 to $0.42 billion in 2023 at a compound annual growth rate (CAGR) of 35.65%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every markets across the globe. The market is expected to reach $1.32 billion in 2027 at a CAGR of 33.23%.
The renal denervation devices market consists of sales of products including a single electrode, multi-electrode, irrigated catheter, and others.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Renal denervation devices are minimally invasive medical devices used to treat hypertension (high blood pressure) that has not improved with other treatments. A catheter is passed into the renal arteries that ablate sympathetic nerves in the vessel wall using radiofrequency energy to allow greater blood flow to the kidneys.
Europe was the largest region in the renal denervation devices market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the renal denervation devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main products of the renal denervation devices are simplicity renal denervation system, EnligHTN, vessix renal denervation system, iberis renal sympathetic denervation system, paradise renal denervation system and others.The simplicity renal denervation system is a medical apparatus that employs a catheter and generator to administer radiofrequency energy to the renal nerves.
The renal denervation devices use various technologies including radiofrequency ablation, ultrasound energy-based RDN, brachytherapy, chemical ablation and other technologies that are used by end-users such as hospitals, cardiovascular research centers and others.
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 Mississippi, the prevalence of hypertension grew by 11.7% between 2011 and 2021 (from 39.3% to 43.9%). 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.
In April 2022, Clinical Accelerator, a UK-based full-service contract research organization partnered with Verve Medical to carry out a preliminary human feasibility study on their innovative medical device intended for individuals suffering from treatment-resistant hypertension. Verve Medical Inc. is a US-based medical equipment manufacturer.
The countries covered in the renal denervation devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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