June 6, 2019

Endoscopic Vessel Harvesting Systems Market Projected to Garner Significant Revenues by 2026

Endoscopic vessel harvesting (EVH) system was first introduced in 1996. Since then it has attracted patients due to its minimal invasive procedure, which requires a small incision. It is a safe surgical procedure that promotes quick recovery. The endoscopic vessel harvesting system helps reduce the risk of wound infection and other related complications, thus reducing surgical trauma and tissue damage. EVH is used in around 80% of coronary artery bypass grafting procedures in the U.S. Since its introduction, EVH process or technology has undergone a number of changes. New EVH procedures are faster, easier, and safer.

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The global endoscopic vessel harvesting market is anticipated to expand substantially due to increasing preference for minimally invasive processes and growing prevalence of cardiovascular diseases. Additionally, extensive research & development in the field and growing demand for new products with technologically advanced endoscopic vessel harvesting systems propel the global market. However, poor reimbursement scenario for EVH and availability of alternative treatment procedures for coronary artery disease (CAD) are likely to hamper the market. Expansion of the health care market in emerging economies is projected to create opportunity; however, lack of trained professionals is likely to restrain this market.

The endoscopic vessel harvesting market has been segmented based on product, usability, vessel type, application, and region. In terms of product, the market has been divided into EVH systems, endoscopes, and accessories. Based on usability, the global endoscopic vessel harvesting market has been bifurcated into disposable and reusable. The reusable segment dominates the market due to high adoption of these devices in coronary artery bypass grafting surgeries, especially in emerging economies and commercial availability. Based on vessel type, the market has been segregated into radial artery and saphenous vein. In terms of application, the endoscopic vessel harvesting market has been segmented into coronary artery disease and peripheral artery disease.

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Geographically, the endoscopic vessel harvesting market segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Each region is further divided into specific countries such as the U.S., Canada, the U.K., Germany, Brazil, China, India, and GCC Countries. North America dominated the global endoscopic vessel harvesting market due to availability of favorable reimbursement policies, especially for endoscopes and increase in incidence and prevalence of coronary diseases among the U.S. population caused due to sedentary lifestyle. According to data published by the Center of Disease Control and Prevention, in 2017, approximately 370,000 people succumbed to coronary heart diseases in the U.S. Moreover, presence of technologically advanced, minimally invasive coronary artery bypass grafting (CABG) surgeries is expected to drive the market in the U.S. Asia Pacific is expected to be the most attractive market during the forecast period. Rise in medical tourism to this region, increase in per capita income, surge in health care spending by governments, and rise in public awareness about various coronary surgeries is anticipated to drive the market in Asia Pacific.

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Key players operating in the endoscopic vessel harvesting market are MAQUET Holding B.V. & Co. KG., LivaNova, Terumo Cardiovascular Systems Corporation., Saphena Medical, Inc., KARL STORZ SE & Co. KG, Cardio Medical, Medical Instruments Spa., and OLYMPUS CORPORATION. Collaborations, partnerships, agreements, and new product launches are some of the important strategies used by market players gain competitive advantage in the market.

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