Growth opportunities in health care are all about innovation, and few new, growing markets are heating up as much as renal denervation in medical tech. Renal denervation, a treatment for hypertension, could be a sleeper market to watch: the Millennium Research Group estimates that this medical device market could see revenue of up to $2.9 billion annually by 2021, hardly chump change for top leaders in the device industry.
Yet no growth market is immune to setbacks. Medtronic (NYSE:MDT), one of the early leaders in developing renal denervation solutions with its Symplicity device, stumbled recently in clinical trials over its device's efficacy. U.S. regulatory approval for the Symplicity now looks far off in the future as the company rebounds from this device, and while Medtronic vows to keep the device on schedule, it's no doubt left investors disappointed.
But is Medtronic's setback a stumbling block for the renal denervation push in med tech, or is it just a window of opportunity for other hard-charging rivals in this space, such as St. Jude Medical (NYSE:STJ)? In the video below, Motley Fool contributor Dan Carroll takes you through all you need to know about the renal denervation market's potential -- and which companies and stocks are the early leaders to reap big rewards down the road.