MDT - Renal Denervation Devices Market Expected to Reach USD 387 Million by 2032 with a Remarkable 37.2% CAGR According to Straits Research | Benzinga
New York, United States, July 16, 2024 (GLOBE NEWSWIRE) -- As per the Latest Report by Straits Research, the global renal denervation devices market size was valued at USD 54.26 million in 2023. It is estimated to reach an expected value of USD 387 million by 2032, growing at a CAGR of 37.2% during the forecast period (2024–2032).
A minimally invasive treatment called renal denervation is used to treat resistant hypertension. The primary contributors to the growth of the renal denervation devices market are the increasing elderly population, the rising prevalence of hypertension, and the procedure's long-lasting effects.
Download Free Sample Report PDF @ https://straitsresearch.com/report/renal-denervation-devices-market/request-sample
Rising Prevalence of Hypertension Propels the Renal Denervation Devices Market
The prevalence of hypertension-related illnesses and chronic conditions continues to increase globally. Hypertension, commonly known as high blood pressure, is a severe medical condition that significantly raises the chance of developing heart, kidney, brain, and other disorders. In 2018, the Centers for Disease Control and Prevention (CDC) reported that high blood pressure was a primary cause of death for more than 494,873 Americans, with over 100 million suffering from the illness. An increase in hypertension cases is anticipated to generate demand for renal denervation devices during the projected period.
According to the United Nations Department of Economics and Social 2019 report, it was estimated that by the year 2050, 16% of the global population would be over 65, up from 9% in 2019. By 2050, one in four people in Europe and Northern America could be 65 or older. In 2018, people aged 65 and over outnumbered children under five globally for the first time in history. The number of people aged 80 and older is anticipated to treble between 2019 and 2050, from 143 million to nearly 426 million. The percentage of the population aged 65 or older virtually doubled from 6% in 1990 to 11% in 2019 in Eastern and South-Eastern Asia and from 5% in 1990 to 9% in 2019 in Latin America and the Caribbean, according to the same survey. In four regions, namely Central and Southern Asia, Northern Africa and Western Asia, Eastern and South-Eastern Asia, and Latin America and the Caribbean, the percentage of the elderly is anticipated to quadruple.
It is anticipated that the number of individuals suffering from hypertension will increase as the global population ages. Hypertension is caused by aging-related arterial stiffness, hemodynamic alterations, neurohormonal and autonomic dysregulation, and diminishing the renal function. Consequently, all of the considerations mentioned above suggest that an increase in hypertension cases would drive demand for renal denervation ...