Global renal denervation (RDN) devices market estimated to expand at a CAGR of 41.2% during 2012-2021
As per a report published by Transparency Market Research, the global renal denervation (RDN) devices market is expected to reach USD 1.9 billion in 2021 from USD 88.5 million in 2012 by growing at a CAGR of 41.2%. The major driving factors include increase in the number of patients suffering from hypertension and age-related conditions. Other factors contributing to the growth of the market include rising adoption of RDN procedures owing to benefits such as lessened treatment time and a high safety level of these procedures as compared to conventional drug-based therapeutic methods for uncontrolled hypertension. The collaboration of key players of this industry for research and development (R&D) of new technologies would help the market surpass other uncontrolled hypertension therapeutics markets in the near future. Europe is currently the market leader of the global RDN devices market owing to rising R&D activities and device approvals. Europe captured 80% share of the market in 2012 and is estimated to continue with its dominance through 2021. Medtronic’s Symplicity device had acquired highest 85.5% shares of the market in 2012, but it is estimated to witness a tough competition from Boston Scientific’s Vessix Vascular V2, ReCor Medical’s Paradise, St. Jude’s EnlighHTN and Covidien’s OneShot. France, the UK, Germany, and Italy are the major European RDN devices markets. Asia-Pacific follows Europe in dominating the market, and is expected to witness the fastest growth pace over 2012-2021.