Medi-Tech Insights: The market growth is driven by the growing geriatric population, the rising prevalence of hypertension, and venture capital funding. The United States market is likely to offer high growth opportunities in the next 3-5 years.
Brussels, Belgium, June 06, 2022 (GLOBE NEWSWIRE) --
Resistant hypertension is a blood pressure that remains elevated above target levels despite use of anti-hypertensive medications. About 12-15% of the population treated for high blood pressure suffers from resistant hypertension. Renal denervation is a minimally invasive procedure used to treat resistant hypertension. As the geriatric population is growing, the number of people suffering from hypertension and the resistant hypertension is also growing which is driving the RDN market growth.
The rising prevalence of hypertension is driving the Renal Denervation Market Growth
According to WHO, currently more than one billion people across the globe are suffering from hypertension which is expected to grow to 1.6 billion by 2025. WHO estimated that less than one in five people have their hypertension under control, either due to non-adherence or resistance to medication. This is leading to growing prevalence of hypertension/resistant hypertension, thereby driving the renal denervation market growth.
Lack of long-term clinical data and risks associated with RDN procedure inhibits the Renal Denervation Market Growth
Though RDN is perceived as potential treatment for resistant hypertension, it is a relatively new procedure and less data is available on its long-term effects. Owing to the limited clinical evidence, the RDN products are available only for investigational purpose in some of the major markets. For instance, Medtronic’s Symplicity Spyral RDN System’s use is limited only to investigational purpose in the U.S., Japan, and Canada. Further, there are various risks associated with this procedure which limits its use. Some patients experience bradycardia during the procedure. The RF ablation may cause changes to the wall of the arteries, which can sometimes lead to renal artery stenosis. The imaging used during the procedure also has a number of risks. Other complications include tearing in the renal arteries and pseudoaneurysm (a bruise caused by a leaking hole in an artery).
North America to offer high growth opportunities in Renal Denervation Market
From a geographic perspective, Europe is the single largest renal denervation market. This is mainly attributed to the growing aging population, rising prevalence of hypertension, and higher penetration due to commercial availability of RDN products within Europe. The North American market is at nascent stage as the RDN companies are yet to launch the products for commercial use in the region. However, the companies operating in the renal denervation market are thriving to introduce their products in the U.S. market and are focusing their efforts on getting the commercial approvals. For instance, Medtronic is likely to publish its results of SPYRAL HTN-ON MED clinical trials for its RDN system in the U.S. in later half of 2022. Further, in March 2022, ReCor Medical (Otsuka) completed subject enrolment for its RADIANCE-II pivotal trial of its Paradise Ultrasound Renal Denervation (uRDN) System for generating clinical trial data to enter the U.S. renal denervation market.
Some key players operating in the global renal denervation market include Medtronic, Boston Scientific Corporation, St. Jude Medical (Abbott), ReCor Medical (Otsuka), and Terumo Corporation, among others.
Citing the growth potential of Renal Denervation market, venture capital firms are helping start-ups to expedite their clinical trial efforts
In December 2021, SyMap Medical completed financing round of $100 million led by Primavera Capital and VMS Group, with the participation of existing investors Simiao Equity Investment and Sequoia Capital China.
In April 2021, China-based renal denervation firm Brattea completed $20 million funding round. The round was led by led by healthcare private equity fund Kuanping Capital.
Explore Detailed Insights on Renal Denervation Market @ https://meditechinsights.com/global-renal-denervation-market/
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