The global renal denervation technologies market is anticipated to increase at a prolific CAGR of 40% over the 2022-2026 forecast period. The market is expected to secure a market value of around US$ 720 million by 2026, up from US$ 186 million in 2022.
Demand for radiofrequency-based technology is expected to increase at 35% CAGR over the coming years. It is anticipated that the excellent efficacy of radiofrequency-based technology, which has been demonstrated in various trials, would boost the significance of these devices across geographies.
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What’s Shaping Renal Denervation Technologies Market Growth?
“Increase in Funding for R&D Initiatives for Treatment of Renal Disorders”
Demand for renal denervation procedures is anticipated to be aided by various authorities and government organizations increasing funding for R&D initiatives for renovascular hypertension treatment. Additionally, advancements in renal denervation devices could propel the industry.
One of the key factors increasing the adoption of the renal denervation method is the number of new skills it introduces. The drawbacks of high frequency-based renal denervation systems can be overcome by an ultrasonic RDN device. Without making direct touch with the tissue, high-frequency sound waves and ultrasonic energy assist in the removal of nerves.
This lessens the risk of renal artery injury. This quality makes this method preferred by a sizable number of patients worldwide. The effectiveness of these strategies will also be greatly enhanced by incorporating technology into these kinds of health practices and paving the opportunities in the renal denervation industry.
Competitive Landscape
Renal denervation device manufacturers are requesting authorization to employ renal denervation systems and devices in clinical trials. A significant driver of the renal denervation industry is the rise in clinical trials for the treatment of diseases, including hypertension and blood pressure.
This increase in trials is anticipated to increase the demand for renal denervation and present new prospects for renal denervation companies.
For instance :
- In 2022, Microsoft, an American global technology business, partnered with Johnson & Johnson. As part of this partnership, Johnson & Johnson is set to use Microsoft’s cloud computing capabilities to connect patients and surgeons in an ecosystem for digital surgery.
Key Companies Profiled
- Medtronic
- Boston Scientific Corp.
- Symple Surgical, Inc.
- Terumo Corporation
- Ablative Solutions, Inc.
- Abbott Laboratories
- Renal Dynamics Limited
- Mercator MedSystems, Inc.
- ReCor Medical, Inc.
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Key Segments of Renal Denervation Technologies Industry Research
- By Product :
- Symplicity
- Vessix
- EnligHTN
- Paradise
- Iberis
- Others
- By Technology :
- Radiofrequency-based
- Ultrasound-based
- Micro-infusion-based
- By End User :
- Hospitals
- Specialty Clinics
- Research & Academic Institutes
- Ambulatory Care Centers
For More Insights of Fact.MR :- https://www.globenewswire.com/en/news-release/2022/08/11/2496963/0/en/Radiofrequency-based-Systems-Account-for-Whopping-75-Revenue-Share-of-Renal-Denervation-Technologies-Fact-MR-Study.html