Analysts from Technavio have forecast the global renal denervation market to grow at a compound annular growth rate of close to 12% during the forecast period, according to their latest report.
Europe accounted for more than 57% of the market in 2015 due to the CE mark approval of a few of its renal denervation devices.
Technavio healthcare and life sciences analysts highlighted three factors contributing to the growth of the global renal denervation market:
- Widespread prevalence of hypertension
- Use of minimally-invasive procedures
- Technological innovations to simplify renal denervation
The research study covers the present scenario and growth prospects of the global renal denervation market for 2016-2020. According to the report, the market is growing slowly as clinical trials have failed to prove the safety and efficacy of many renal denervation devices. The market should grow with the US Food and Drug Administration approval of Medtronic’s Symplicity HTN-4 renal denervation device, after the completion of associated clinical study in February 2017.