Albany, NY -- (SBWIRE) -- 05/19/2014 -- According to a new market report published by Transparency Market Research "Renal Denervation Devices (Symplicity, EnligHTN, OneShot, V2, Paradise, TIVUS, Bullfrog, Surround Sound, Micro-Infusion, Ultrasound and Radiofrequency) Market - Global Industry Analysis, Size, Share, Growth, and Forecast, 2012 - 2021," the RDN devices market was USD 88.5 million in 2012 globally and is expected to grow to USD 1.9 billion by 2021, at a CAGR of 41.2% from 2012 to 2021. In 2012, Medtronic's Symplicity held the largest share in the global RDN devices accounting for 85.5% of the global RDN devices market. Medtronic's Symplicity is expected to face tough competition from emerging products such as Boston Scientific's (Vessix's Vascular) V2, St. Jude Medical's EnligHTN, Covidien's OneShot and ReCor Medical's Paradise.
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The global market for RDN devices is expected to grow with increasing incidences of hypertension and aging population. Due to high level of safety and reduced treatment time, RDN procedure is expected to dominate over the drug treatment method for uncontrolled hypertension. Increasing market collaboration among the industry players to introduce better technology will help gain a competitive advantage in this booming market.
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Radiofrequency RDN (RF-RDN) devices segment represented the largest segment by technology in 2012 and is expected to continue this trend till 2021. Owing to safety, time efficiency and reproducibility, RF-RDN devices have gained popularity in the global market. Despite having several benefits, manufacturers are struggling to get marketing approval for their devices. Radiofrequency RDN devices segment will face strong competition from emerging technologies such as ultrasound, cryoablation, microfusion, radiation and nano-particles.
The global renal denervation market is currently dominated by Europe due to large number of device approvals and R&D activities conducted by industry players. Europe accounts for more than 80% of the market share and is estimated to maintain its dominating position through 2021. The major market for RDN devices are Germany, France, UK and Italy. Asia-Pacific is the second largest and fastest regional market for RDN devices. The RDN devices market in North America is expected to gain rapid pace from 2015 as many devices are in the pipeline to receive FDA approvals.
The report estimates the renal denervation market by product of each major company. It also gives a detailed analysis over a period of nine years with updates and expected outcomes in the coming years. The research report is specially designed to analyze the demand and performance of RDN devices in the global market, providing in-depth analysis of the trends, on-going developments, factors driving the demand of RDN devices, and the restraints for the RDN devices market. The market is estimated and analyzed by segmenting it into technology, products (by manufacturers), and geography.
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