Renal Denervation Market

Global Renal Denervation Market Size (2023 to 2028)

The global renal denervation market size is forecasted to be worth USD 1632 Million by 2028 from USD 343.9 Million in 2023, growing at a compound annual growth rate (CAGR) of 36.54% between 2022 to 2027.

Global Renal Denervation Market Share Insights:

• Based on the procedure, the ultrasound-based renal denervation devices segment is expected to grow at the highest CAGR during the forecast period.
• Based on end-user, the hospital held a significant global market share of 56.3% in 2022.
• Based on region, Europe accounted for the largest share of the global market in 2022.

Impact of Covid-19 on the global renal denervation market:

The COVID-19 pandemic affected the renal denervation market positively and negatively. On one side, several companies that operate in the renal denervation space have planned to launch their products in 2020 and 2021. But these companies have faced issues such as delays in regulatory approvals and clinical trials and further resulted in postponed launch dates. Likewise, new product launches have been delayed in the market and affected the market negatively. In addition, elective procedures such as renal denervation were put on hold during the COVID-19 pandemic and priority has been given to COVID-19 in healthcare facilities. Due to this, the usage of devices that are used in renal denervation procedures has decreased significantly and affected the sales and revenue of the device manufacturers and eventually causing a decline in the growth rate of the renal denervation market. Furthermore, the COVID-19 pandemic has caused severe disruptions in the global supply chains and led to the shortage of components and raw materials required to manufacture renal denervation devices and this has resulted negatively in market growth. Such factors have showcased an unfavorable impact on renal denervation market growth. On the other side, the demand for remote monitoring of patients with hypertension has increased significantly during the COVID-19 pandemic and this has accelerated the development of new remote monitoring technologies that can be used to track blood pressure and other vital signs and favored renal denervation market growth.

MARKET DRIVERS:

The growing patient population suffering from hypertension primarily propels the renal denervation market growth. The number of people suffering from hypertension is on the rise worldwide. As per the statistics published by World Health Organization (WHO), an estimated 1.28 billion adults worldwide suffer from hypertension. The growing aging population, unhealthy diet, sedentary lifestyle and stress are majorly resulting in the growing incidence of hypertension among people. Hypertension can be treated with drugs such as ACE inhibitors, beta-blockers and diuretics. However, these drugs are not effective on everyone and even in some cases, these have shown adverse effects. Renal denervation is used for patients who do not respond well to the drugs or have experienced negative effects from the drugs. Renal denervation is a minimally invasive surgical procedure and offers faster recovery and fewer complications compared to traditional surgeries. Considering these benefits, the adoption of renal denervation has been increasing steadily by the patient population and healthcare providers. The patient population of hypertension is anticipated to grow in the coming years and boost the demand levels of renal denervation and contribute to market growth.

Technological advancements in renal denervation devices further fuel the growth rate of the market. Advancements in technology have helped develop new, minimally invasive renal denervation devices that are safer and more effective than earlier generations of devices. The penetration of technological advancements in renal denervation procedures is anticipated to continue in the coming years and boost the growth rate of the market. The rapid adoption of minimally invasive surgical procedures such as renal denervation by healthcare professionals and patients due to the associated benefits such as faster recovery times and fewer complications than traditional surgeries is another key attribute contributing to the growth rate of the market.

The growing demand for home-based and ambulatory care options for chronic conditions such as hypertension favors the renal denervation market growth. The growing aging population and rising healthcare costs boost the demand for home-based and ambulatory care for chronic diseases such as hypertension is on the rise. The procedure of renal denervation can be performed on an outpatient basis. Favorable reimbursement policies for renal denervation procedures in several countries favor market growth. The growing awareness and increasing number of campaigns to promote the awareness of renal denervation for hypertension among healthcare professionals and patients support the market growth. The growing healthcare spending by the governments and healthcare facilities for the development of healthcare infrastructure and services including treatments for hypertension adds fuel to the growth rate of the market. Furthermore, factors such as the growing aging population, increasing patient population of obesity and rising demand for personalized medicine drive the renal denervation market growth.

MARKET RESTRAINTS:

Poor awareness regarding renal denervation in some countries is one of the key factors hampering market growth. Though the awareness about the benefits of renal denervation is growing in some countries among healthcare providers and patients, in some countries, many are unaware of renal denervation. High costs associated with renal denervation procedures are another significant roadblock to market growth. Limited reimbursement policies for renal denervation procedures is some countries further hinder market growth. The competition from other treatment options such as medication, lifestyle changes and other minimally invasive procedures further impedes the market growth.

REPORT COVERAGE: 

This research report on the global renal denervation market has been segmented and sub-segmented based on the categories.

Renal Denervation Market – By Product:

• Symplicity Renal Denervation System
• Vessix Renal Denervation System
• Paradise Renal Denervation System
• Iberis Renal Denervation System

Based on product, the simple renal denervation system segment had the leading share of the global renal denervation market in 2022 and is expected to grow at a promising CAGR during the forecast period. Factors such as its proven efficacy in clinical trials, its ease of use and its established market presence majorly drive the segmental growth. The symplicity renal denervation system has been approved for use in several major markets, including the United States and Europe.

The Vessix renal denervation systems segment accounted for the second-largest share of the global market in 2022 and is anticipated to grow at a healthy CAGR during the forecast period. Factors such as its unique approach to renal denervation and favorable safety profile and regulatory approval in several major markets, including the United States and Europe primarily contribute to the segmental growth.

Renal Denervation Market - By Procedure:

• Ultrasound
• Radiofrequency
• Micro-infusion

Based on procedure, the radiofrequency segment accounted for the largest share of the global market in 2022 and is anticipated to witness steady growth during the forecast period. Factors such as its proven efficacy in clinical trials, its established market presence and the availability of a wide range of radiofrequency-based devices from various manufacturers contribute to the segmental growth.

The ultrasound segment had a considerable share of the market in 2022 and this segment is also predicted to witness a prominent CAGR during the forecast period. Factors such as its potential for improved efficacy and safety compared to other approaches, the development of new and innovative ultrasound-based devices and favorable reimbursement policies in some regions boost the growth rate of the segment.

The micro-infusion segment is estimated to register a moderate CAGE during the forecast period.

Renal Denervation Market - By End-User:

• Ambulatory Surgical Centers
• Hospitals
• Specialty Clinics

Based on end-user, the ambulatory surgical centers (ASC) segment is expected to showcase domination in the global renal denervation market during the forecast period. The rising trend towards outpatient procedures that favor using ASCs and the development of new and innovative devices specifically designed for use in ASCs primarily drive segmental growth.

The hospital segment had a considerable share of the global market in 2022 and is predicted to register a healthy CAGR during the forecast period owing to the increasing prevalence of hypertension that drive demand for renal denervation procedures. Hospitals have established relationships with physicians and patients, which is another key factor driving the demand for renal denervation procedures in hospitals and contributing to segmental growth.

The specialty clinics segment is forecasted to have a moderate CAGR in the coming years.

Renal Denervation Market - By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Europe led the market in 2022 and the regional domination is estimated to continue throughout the forecast period. The growing number of initiatives by the European governments to promote the adoption of innovative healthcare technologies including renal denervation procedures, the increasing patient population of hypertension in the European region, increasing awareness of the risks associated with hypertension and favorable reimbursement policies for renal denervation procedures boost the growth rate of the European market. An estimated 30% of the adult population in Europe has high BP issues and this prevalence is anticipated to accelerate in the coming years. The strong presence of major medical device manufacturers in Europe and rising demand for minimally invasive procedures and outpatient surgeries contribute to the growth of the European market. Germany is anticipated to capture the major share of the European market during the forecast period due to factors such as the presence of major medical device manufacturers and favorable reimbursement policies.

North America is another promising regional market for renal denervation market and is expected to account for a prominent share of the worldwide market during the forecast period. The growing prevalence of hypertension in the North American region and the presence of many medical device manufacturers in the North American region majorly propel the North American market growth. The rising adoption of newer and innovative devices and techniques, growing healthcare expenditure, favorable reimbursement policies for renal denervation procedures, the presence of advanced healthcare infrastructure, increasing adoption of newer and innovative devices and techniques and growing investments in research and development for renal denervation procedures further boost the growth rate of the North American market. The U.S. accounted for the largest share of the North American market in 2022. The lead of the U.S. market is expected to continue throughout the forecast period due to factors such as the growing patient population with hypertension, the presence of major medical device manufacturers and advanced healthcare infrastructure. CDC says approximately 75 million U.S. adults suffer from hypertension and the prevalence is expected to increase in the coming years. Canada occupied a considerable share of the North American market in 2022 and is expected to witness a healthy CAGR in the coming years.

APAC is expected to register the fastest CAGR among all the regions in the worldwide market during the forecast period. Factors include the large and growing middle class with increasing access to healthcare and disposable income, the rising prevalence of hypertension in the Asia-Pacific region, increasing awareness of the risks associated with hypertension and growing investments in healthcare infrastructure, including hospitals and specialty clinics primarily drive the regional market growth. In addition, the rapidly growing medical tourism industry, with increasing demand for renal denervation procedures and rapid adoption of newer and innovative devices and techniques supports the growth rate of the APAC market. Japan is expected to occupy a substantial share of the APAC market during the forecast period owing to the growing hypertension patient population. Among all countries of Asia-Pacific, Japan has the highest prevalence of hypertension. China had the leading share of the APAC market in 2022 and is expected to grow at a healthy CAGR during the forecast period due to factors such as a large population and increasing healthcare expenditure. India is predicted to register a noteworthy CAGR during the forecast period owing to the increasing number of initiatives to improve healthcare infrastructure and increase access to healthcare services.

Latin America had a considerable share of the global market in 2022 and is estimated to register a healthy CAGR during the forecast period. The growing investments in healthcare infrastructure, rising awareness of hypertension and its associated risks in the region, growing demand for minimally invasive procedures and outpatient surgeries, favorable reimbursement policies for renal denervation procedures and rising medical tourism industry primarily drive the regional market growth. Brazil led the market in Latin America in 2022. Mexico is another noteworthy regional market in Latin America and is expected to hold a substantial share of the Latin American market during the forecast period.

MEA captured a moderate share of the global market in 2022 and is expected to witness a steady CAGR during the forecast period.

Key Market Players:

There are several significant players in the global Renal Denervation Market; Renal Dynamics Limited, ReCor Medical, Inc., Cardiotonic Ltd, Boston Scientific Corporation, Ablative Solutions, Inc., Terumo Corporation, Mercator MedSystems, Inc., Medtronic plc, Johnson & Johnson, Abbott Laboratories.

Recent Developments:

• In Oct 2022, Medtronic plc., a global health technology leader, hosted a webcast announcing to provide an update on its Medtronic Renal and Coronary Denervation business.
• In March 2022, The Paradise Ultrasound Renal Denervation (uRDN) system, manufactured by ReCor Medical, an Otsuka Medical Devices subsidiary, finished recruiting participants in the crucial RADIANCE-II trial. The Paradise uRDN system was created by the business as a minimally invasive treatment to treat hyperactive kidney nerves.