The research and consulting firm GlobalData states that the global renal denervation market will witness significant growth over the next six years—jumping from $15.5m in 2012 to $171.7m by 2019 at a compound annual growth rate of 41%. It explains that the estimated growth is mainly due to the intervention’s expected approval in major countries.
GlobalData’s report states that it predicts that renal denervation will be approved in all of the countries the company has studied—the US, France, Germany, Italy, Spain, UK, Japan, Brazil, China and India—by the end of the forecast period (2019). It adds that this approval, along with a number of other anticipated events, is expected to drive the global procedure volume from approximately 3,000 procedures in 2012 to nearly 40,000 by 2019.
Joseph Gregory, GlobalData’s analyst covering surgical devices, says: “While there has been much enthusiasm for renal denervation since its introduction to the market in 2010, the intervention has been met with considerable barriers to its adoption. As a result of this, the number of global procedure volumes has been coasting in the low thousands, which is expected to continue through 2014.”
However, this is expected to change in 2015, when the anticipated CE Mark for the heart failure indication is obtained in Europe. Additionally, the uncontrolled hypertension indication is expected to be approved in the US in 2016, with a subsequent CE mark in 2018.