The renal denervation market size was valued at $156,327.4 thousand in 2020, and is estimated to reach $4,555,983.0 thousand by 2030, growing at a CAGR of 40.7% from 2021 to 2030. Renal denervation is a type of irregular heartbeat characterized by rapid and irregular beating. Owing to the disorder, ventricles receive insufficient blood. Blood may clot and congest in the atria at the same time.These clots can enter the circulation and reach the brain causing stroke. The transmission of electrical impulses to the lower heart chambers is disrupted in renal denervation, which is expected to cause a rapid, slow, or irregular heartbeat. During renal denervation, upper chamber and lower chamber of the heart beat irregularly, chaotically, and out of sync, which can cause shortness of breath, chest pain, weakness, lightheadedness, or fainting.
The market is expected to expand as the rise in prevalence and incidence of hypertension &blood pressure. Moreover, changing lifestyles and improvement in healthcare infrastructure in developing nations have fueled the renal denervation market growth. In addition, the renal denervation process is more cost efficient than other multi-drug therapy treatments.However, the market's growth is hampered by the extensive approval process for renal denervation devices, as well as patient discomfort and anxiety during the treatment.
The renal denervation market is segmented by product, which include simplicity, vessix, paradise, iberis, and others. Vessix system is suitable for arteries of varying diameters that has a balloon that can be expanded into variable sizes. It also has a full-color visual user interface, which improves the device's accuracy and functionality. The Vessix Renal Denervation System manufacturer, Boston Scientific Corporation, consider this area as a possible growth opportunity for increasing its business. It offers vessix renal denervation system, vessix generator, and vessix catheter for treatment of hypertension and other diseases.
Renal denervation system operates by various technologies such as ultrasound, radio frequency, and micro-infusion. Radio frequency renal denervation is an effective way to control resistant hypertension. A one-time procedure is enough to lower the blood pressure levels up to two years. Renal denervation with radiofrequency is a catheter-based procedure that involves inserting a catheter into the renal artery via the femoral artery. The catheter uses many electrodes to emit radio frequency radiation. This energy is utilized to damage the nerves by creating a sequence of ablations across the renal artery.
However, during the pandemic, various manufacturers in the renal denervation market had to stop their business in countries such as China, the U.S., and India. Thisbreak directly impacted sales of renal denervation companies. In addition, lack of manpower and raw materials also constricted supply of equipment of renal denervation that has negatively influenced the growth of the market. However, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to re-opening of renal denervation companies.
Key Findings Of The Study
- The report provides an extensive analysis of the current and emerging renal denervation market trends and dynamics.
- Depending on product, the Enlightn segment dominated the renal denervation market, in terms of revenue in 2020 and the Vessix segment is projected to grow at a significant CAGR during the forecast period.
- By technology, the radio frequency segment has registered highest renal denervation market share in 2020.
- By end user, the hospitals segment has registered highest revenue in 2020.
- Europe is projected to register highest growth rate in the coming years.
- The key players within the renal denervation market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the renal denervation industry.
- The report provides an extensive analysis of the current trends and emerging opportunities of the market.
- In-depth renal denervation market analysis is conducted by estimations for the key segments between 2021 and 2030.