Innovation's a key now more than ever in the medical device industry, which has been slammed by the combination of slumping prices, tough competition, and tightening hospital budgets. For top cardiovascular device makers like Covidien (NYSE:COV.DL) and Medtronic (NYSE:MDT), finding new treatments for growing health problems is the way to future sales -- and few developmental treatments have impressed investors and analysts recently in this industry like hypertension treatment renal denervation.

Yet renal denervation has stumbled onto hard times all of the sudden. A pivotal trial in the niche from Medtronic's Symplicitydevice ended in failure. Now Covidien recently announced that it will cease making its own European regulator-approved renaldenervation device, the OneShot, and fellow cardiovascular leader Boston Scientific (NYSE:BSX) is putting its own trial on hold until it can review Medtronic's data.

Is renal denervation dead in the water for innovation-minded device makers? In the video below, Motley Fool contributor Dan Carroll takes you through what you need to know about the stunning fall of this once-red hot growth niche -- and whether or not renal denervation can still become a promising part of medical device makers' portfolios.

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