The impact of COVID-19 pandemic can be felt across the Healthcare Industry The growing inability in the production and manufacturing processes, in the light of the self-quarantined workforce has caused a major disruption in the supply chain across the sector. Restrictions encouraged by this pandemic are obstructing the production of essentials such as life-saving drugs.
The nature of operation in Pharmaceuticals plants that cannot be easily stopped and started, makes the operational restrictions in these plants a serious concern for the industry leaders. Restricted and delayed shipments from China have created a price hike in the raw materials, affecting the core of the Healthcare Industry.
FDA Approvals to Foster Demand Growth
Regulatory approvals are becoming a necessary aspect for effective business for the providers of renal denervation offerings. The US Food & Drug Administration (FDA) approval for use of renal denervation systems is a key milestone for the renal denervation market participants. The companies are seeking approval for their renal denervation systems and devices for their use in clinical trials. Medtronic, a leading renal denervation market player announced the FDA approval a clinical trial of the company’s Symplicity Spyral renal denervation system in patients on high blood pressure medications.
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Continual Clinical Trials in Emerging Nations to Reflect Future Opportunities for Market Players
The increasing clinical trials for the treatment for disorders such as hypertension and blood pressure are a major influencing factor for the renal denervation market. This rise in trials is expected to boost the consumption of renal denervation thereby offering promising opportunities for market players.
Emerging clinical trials in leading economies such as Europe and the United States are expected to provide scope of development. For instance, Stanford Health, is pioneering the ongoing RADIANCE-HTN study in Connecticut. The international and multicenter trial is connected at various centers located in Europe and the United States. The aim of the study is to examine and investigate the capabilities of endovascular ultrasound-based renal denervation for reducing blood pressure in patients with treatment resistant hypertension or moderate or mild hypertension. The initial data reflected a significant decrease in blood pressure. Stanford recognizes the need for this trial as hypertension affects 1 out of 3 adults in America.
New Capabilities of Renal Denervation
Renal Denervation incorporated with ultrasound technology are capable of overcoming the limitations of radiofrequency based renal denervation system. The high-frequency sounds waves of the ultrasound energy help in ablating the nerves, without coming in direct contact with the tissues. This helps in reducing renal arteries injuries.
According to a clinical trial RADIOSOUND-HTN, presented at the Transcatheter Cardiovascular Therapeutics (TCT) meeting, the ultrasound based ablation of renal arteries reflected superiority over multipolar radiofrequency based ablation, according to investigators.
Ultrasound renal denervation system are gaining major emphasis which is greatly supported by the approvals from regulatory bodies. ReCor medical, for instance, recently announced the approval of Investigational Device Exemption (IDE) for its new pivotal study of Paradise Ultrasound Denervation System for treating hypertension by the FDA.
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Competitive Landscape helps in Examining Strategies Adopted by Prominent Players
The prominent players in the renal denervation market are constantly working towards developing a robust systems which could incorporate renal denervation for reducing the challenges related to blood pressure and hypertension. Clinical trials are increasingly being carried out to uplift the capabilities of renal denervation. The key players that contribute to the overall renal denervation market include Medtronic PLC, Symple Surgical, Inc., Cardiosonic, Inc., Boston Scientific Corp., Kona Medical, Inc., ReCor Medical, Inc., Abbott Laboratories, Mercator MedSystems, Inc., Ablative Solutions, Inc., and Renal Dynamics.
Some Developments Carried Out by Renal Denervation Market Players
Otsuka Holdings acquired ReCor Medical, Inc., reflecting a significant step in future for the company’s medical device business, by harnessing an innovative technology with the expertise of Otsuka in clinical and pharmaceuticals development, as stated by the company president.
Abbott Laboratories are greatly engaging in clinical trials for a range of health related issues for providing support to the patients. In line with this, the company recently announced the industry’s only trial for ablation treatment evaluation for a common heart rhythm disorder, ventricular tachycardia (VT), which causes lower chambers of the heart to beat faster than the normal rate.
Mercator MedSystems, Inc., received a Series D funding which would enhance the clinical developments of the company’s micro-infusion catheter systems and expand its vision of bettering the outcomes of patients with pulmonary and cardiovascular disease across the globe.
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Determining Key Segments with Renal Denervation Market Segmentation
The renal denervation market is classified on the basis of product and technology.
On the basis of product, the renal denervation market is segmented into:
- Symplicity Renal Denervation System
- Paradise Renal Denervation System
- Vessix Renal Denervation System
- Iberis Renal Sympathetic Denervation System
On the basis of technology the renal denervation market is segmented into:
The report on renal denervation offers insights both qualitative and quantitative, using primary and secondary research methodologies. The detailed evaluation of the renal denervation market provides a complete assessment on the basis of historical, current, and forecast data facts and statistics.
The research report on renal denervation market provides a detailed analysis on:
- Renal denervation market key Segment
- Renal denervation Market Size
- Renal denervation Market Dynamics
- Key industrial trends and Opportunities
- Supply and Demand Analysis
- Market Value Chain and Pricing Analysis
- Key Market Participants
Regional Analysis of Renal denervation Market includes regions:
- North America Market of Renal denervation including Canada and US.
- Latin America Renal denervation Market including Mexico, Brazil, and Rest of Latin America.
- Western Europe Renal denervation Market including Germany, Italy, U.K, France, Nordic countries, Netherlands, Spain, Luxembourg, Belgium, and Rest of Western Europe.
- Eastern Europe Renal denervation Market including Poland, Russia, and Rest of Eastern Europe.
- Asia Pacific Renal denervation Market including China, India, ASEAN, Australia and New Zealand.
- Japan Truck Renal denervation Market
- Middle East and Africa Renal denervation Market including GCC, South Africa, and Rest of MEA.
The renal denervation Market research study is a glance of the primary data gained by assessing the market, qualitatively and quantitatively. This data is obtained with the help of research analysts, experts in the industry and participants across the value chain. The detailed evaluation of parent market trends, macro-economic metrics, market governing factors, and market attractiveness based on segments are all included in the report. The renal denervation market study also maps the impact of several factors on the regions and market segments.
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