The report "Renal denervation devices" market is segmented By Product (Symplicity, Vessix (V2), EnligHTN, Paradise, Iberis, and others), By Technology (radiofrequency, ultrasound, micro-infusion, and others), By end-user (hospitals, clinics, ambulatory surgical centres, and others), and By Region (North America, Europe, Asia Pacific (APAC), and Rest of the world) – Global forecast to 2030. By 2030, the global Renal denervation market size will reach 4743.13 million U.S. dollars with a significant growing CAGR of 40.7%.
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KEY FACTORS AUGMENTING THE MARKET GROWTH
The increasing prevalence of hypertension and newer technologies developed to treat resistant hypertension globally are the key reasons for the increasing market size of renal denervation devices. Globally, according to the reports suggested by WHO, 2021, the number of people affected by hypertension aged between 30 years and 79 years is approximately 1.28 billion. Thus, increasing demand for treating hypertension is the driving factor for the growth of the renal denervation market.
By Product "Symplicity" segment held the highest share in 2020
Based on product, the renal denervation market is segmented into Symplicity, Vessix (V2), EnligHTN, Paradise, Iberis, and others. In 2020, the Symplicity segment will hold the largest market share with a decent CAGR. This segment is expected to widen its market share in the future.
By Technology "radiofrequency" segment held the highest share in 2020
The renal denervation market is divided into radiofrequency, ultrasound, micro-infusion, and others based on Technology. Currently, radiofrequency is enjoying the largest market share with a growing CAGR throughout the forecasted period. The ease of using radiofrequency Technology to reduce hypertension is the key reason behind this segment's revenues growth.
By region "Europe" segment held the highest share in 2020
By region, the renal denervation market is segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the world. In 2020, Europe will have the largest market share while Asia Pacific will grow with the highest CAGR during the forecasted period. In England, more than one in four adults are affected by high blood pressure as per the data published by Public Health England. The percentage of men with hypertension increased from 28 percent to 30 percent from 2017 to 2018, & rates for women rose by 25% to 26%, according to the NHS Digital data collected through the 2019 Health Survey for England. Lack of exercise, excessive alcohol consumption, consumption of fast food, and smoking, which are causing lifestyle changes are the increased prevalence of hypertension.
Europe has the highest number of CE approval for renal denervation devices. Thus, major factors contributing to the market's growing revenue are an investment in R&D and new product innovations.
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