The market for renal denervation is expected to grow at a compound annual growth rate of 44.2% by 2022, says a GlobalData report.
The renal denervation market registered gross revenues of $64.9m in 2015, which is estimated to grow to $677.4m in the forecast period.
The report, titled ‘MediPoint: Renal Denervation – Global Analysis and Market Forecasts‘, attributes the projected growth of the procedure to a market recovery after a freeze was imposed in January 2014. The market for renal denervation collapsed after Medtronic‘s failed clinical trial resulted in termination of similar trials and also negative publicity for the procedure.
The minimally invasive, endovascular, catheter-based procedure is used for treating drug-resistant hypertension globally across 15 key markets including the US, France, Germany, Italy, Spain, the UK, Japan, China, India, Brazil, Australia, Canada, Mexico, Russia, and South Korea.
GlobalData Analyst Brigitte Babin, MSc, covering medical devices, indicates the turnaround in the market with multiple trials being conducted, signalling the start of a slow recovery phase for the industry. The treatment continues to attract interest and promises to transform the cardiac field.
Babin remarks: "The procedure is important in treating the ever-growing global prevalence of hypertension, which puts considerable strain on healthcare systems due to it being a leading factor of cardiovascular disease including heart attack and stroke.
"In addition to treating hypertension, renal denervation is being investigated for the treatment of other indications related to a hyperactive sympathetic nervous system drive."
"Currently, it is only approved for patients with primary hypertension and excludes anyone with kidney disease, diabetes, or other conditions that may be causing this. The approval of these expanded indications would create a large growth opportunity within the treatment space."
Medtronic leads the global renal denervation market along with St. Jude Medical, and Boston Scientific. Other significant players are Cordis, ReCor Medical, and Terumo.
Babin continues: "Despite Medtronic’s commanding position, there are a number of medical companies, both large and small, specifically focused on renal denervation.
"These companies are developing new systems and will compete with more established leaders of the field, aiding the upcoming revival of the renal denervation space."