Endoscopic Vessel Harvesting Systems Market to Register An Impressive Double-Digit CAGR Of 1.5% From 2019 To 2027

February 23, 2021 0 By [email protected]
Press Release

Endoscopic Vessel Harvesting Systems Market: Introduction

Transparency Market Research has published a new report on the endoscopic vessel harvesting systems market. According to the report, the global endoscopic vessel harvesting systems market was valued at ~US$ 370 Mn in 2018. It is expected to expand at a CAGR of 1.5% during the forecast period from 2019 to 2027.

Endoscopic vessel harvesting (EVH) is a minimally-invasive alternative to the conventional open vein harvesting procedure. EVH systems are used to internally view, cut, and seal side veins, and remove the healthy blood vessel from the radial artery or saphenous vein that may be used in conjunction with coronary artery bypass surgery as a graft vessel. Endoscopic vessel harvesting systems are class I devices, which offer reduced post-surgical complications, less pain, decreased length of stay at hospitals, and improved patient satisfaction as compared to open vein harvesting.

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In terms of component, the endoscopic vessel harvesting systems segment held a major share of the endoscopic vessel harvesting systems market in 2018. It is likely to maintain its dominance during the forecast period, owing to increase in preference, less post-surgery complications, and shorter hospital stay. In terms of vessel, the saphenous vein segment of the endoscopic vessel harvesting systems market is estimated to account for a major share and expand at a rapid pace during the forecast period.

This can be attributed to increased adoption of saphenous veins in coronary artery bypass grafting. In terms of technique, the closed tunnel harvesting segment is anticipated to dominate during the forecast period, as the closed tunnel harvesting technique shows the lowest longitudinal hypertrophy as compared to open tunnel harvesting and the traditional open harvesting technique. In terms of application, coronary artery bypass grafting is estimated to account for a major share, and expand at a rapid pace during the forecast period. This can be attributed to the fact that, this surgery can lower the risk of serious complications for people suffering from obstructive coronary artery disease.

In terms of usability, single use is estimated to account for a major share, and expand at a rapid pace during the forecast period, due to more number of products available in the endoscopic vessel harvesting systems market. Endoscopic vein harvesting (EVH) for coronary artery bypass grafting has been proven to be effective in reduced wound complications, without compromising long-term mortality or composite of death, myocardial infarction, and repeat revascularization.

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However, the availability of alternative treatment methods for CAD & PAD, product recalls, and dearth of skilled professionals and infrastructure in developing countries are factors that are expected to hamper the growth of the endoscopic vessel harvesting systems market during the forecast period.

Endoscopic Vessel Harvesting Systems Market: Prominent Regions

North America held a major share of the global endoscopic vessel harvesting systems market in 2018. The market in the region is estimated to expand at a rapid CAGR during the forecast period. The market is primarily driven by factors such as increase in the prevalence of cardiovascular diseases, including coronary artery disease, highly structured healthcare industry, and availability of well-defined reimbursement policies from private and public health insurance firms. In addition, increase in the adoption of new technologies related to endoscopic vessel harvesting systems along with high awareness among people, and a large number of players in the market in North America focusing on R&D activities are reasons that are responsible for driving the endoscopic vessel harvesting systems market.

Thereby, this is likely to result in high growth of the market in North America during the forecast period. Asia Pacific is estimated to represent prominent growth in the global endoscopic vessel harvesting systems market. Asia Pacific is a relatively untapped market than developed regions. Hence, the region presents immense growth opportunities to the market. Major factors such as high prevalence of cardiovascular diseases, rise in geriatric population, increase in the patient population, growing healthcare industry, and rise in awareness are surging the growth of the endoscopic vessel harvesting systems market in the region.

Europe held the second-largest market share in 2018. Well-developed healthcare infrastructure and increase in surgical procedures are the factors responsible for driving the endoscopic vessel harvesting systems market in the region. The markets in the Middle East & Africa and Latin America are projected to experience moderate growth in the near future.

Endoscopic Vessel Harvesting Systems Market: Key Players

Key players are expanding their footprints across the world to strengthen their position in the global endoscopic vessel harvesting systems market. Developing economies, due to increase in the incidence of cardiovascular diseases, and rise in the number of surgical procedures, offer lucrative opportunities for key players to expand their share in the endoscopic vessel harvesting systems market.

Key manufacturers engage in new product developments, research & development activities, collaborations, key acquisitions, and distribution agreements. For instance, in January 2018, Terumo Corporation integrated two research and development facilities, Silicon Valley Lab research and development facilities (Northern California, U.S.) and Kalila Medical, Inc. The company intends to drive the launch of corporate R&D projects through this development.

Prominent players operating in the endoscopic vessel harvesting systems market are Getinge AB, LivaNova PLC, Terumo Corporation, Saphena Medical, Inc., KARL STORZ, and Med Europe S.r.l.