The global Endoscopic Vessel Harvesting System market size is expected to be worth around US$ 13.4 billion by 2030, according to a new report by Vision Research Reports.
The global Endoscopic Vessel Harvesting System market size was valued at US$ 2,881.7 Million in 2020 and is anticipated to grow at a CAGR of 16.1 % during forecast period 2021 to 2030.
Growth Factors
Growing inclination of the patient population toward minimally invasive cardiac surgeries is one of the key factors expected to drive the market in the coming few years.
The introduction of endoscopic vessel harvesting technology in the field of cardiac surgery was a significant milestone in 1996. According to estimates by the Texas Heart Institute, every year over 200,000 procedures were performed in the U.S. Also, based on the statistics published by the department of surgery (Washington University School of Medicine in St. Louis), they perform Coronary Artery Bypass Grafting (CABG) surgeries on approximately 0.5 million people every year. The growing demand for these procedures and technologically advanced surgical procedures are among the few factors anticipated to boost the market over the forecast period.
The presence of favorable reimbursement policies in the U.S. pertaining to CABG surgeries is anticipated to increase the number of these surgeries. In July 2016, the Department of Health & Human Services announced that it will begin implementing bundled payment models for high-quality, coordinated cardiac and hip fracture care. The market is highly concentrated with a limited number of products and market players operating in this space. Many studies stated that the open vessel harvesting technique is as effective as a minimally invasive vessel harvesting technique. However, the growing awareness regarding benefits of Endoscopic Vessels Harvesting (EVH), such as minimally invasive nature, fewer complications, and quick recuperation are some of the factors that are anticipated to propel its growth during the forecast period.
Report Highlights
The EVH system market is segregated on the basis of product type: reusable and disposable. Reusable harvesting vessel systems emerged as the leading product category and accounted for over 66% of the total revenue in 2020. The commercial availability of reusable systems and the huge adoption of such devices in CABG surgeries, especially in the emerging economies, are some of the key factors that can be accounted for its revenue share in 2016. However, the growing incidence of infections caused by endoscopes is one of the factors that are likely to impede growth.
The market is majorly dominated by few products namely Endoperfect System, Venapax Vein Harvesting, Cardio Vision EVH System, VascuClear EVH, Maquet EVH systems, and Virtuosaph Plus. However, the disposable system is expected to be the fastest-growing segment in the coming few years owing to the growing safety concern amongst healthcare professionals. The rapid technological improvement in disposable systems is also one of the pivotal factors anticipated to boost demand.
Some of the frequently used commercially available disposable systems are VasoView HEMOPRO, VirtuoSaph, and VascuClear EVH. The companies such as Maquet Holding and Sorin Group have invested majorly in R&D to further develop advanced disposable systems such as VASOVIEW 6 PRO EVH and VascuClear by Maquet Holding and Sorin Group, respectively. The growing demand for disposable surgical equipment is one of the factors expected to propel the disposable medical supply market. It has grown significantly due to the safety and convenience of the patient population.
Various organizations, such as the Pediatric Congenital Heart Association and Heart Valve Surgery Community, work on spreading awareness about heart diseases, provide education on congenital heart diseases, and conduct researches. The rising awareness among surgeons regarding new technologies pertaining to cardiac surgeries is anticipated to impel the growth of disposable EVH systems over the forecast period. Moreover, the increasing geriatric population with cardiovascular diseases and the population of more susceptible to various infections are among the determinants expected to propel the demand for disposable EVH systems during the forecast period.
North America was the leading EVH system market and accounted for around 39% of the total market revenue in 2016. Emerging economies such as India, China, and Brazil have been experiencing strong economic growth. Increasing population and rising cardiovascular disorder have spurred the demand for CABG surgeries in the region. Growing disposable income has triggered consumers to avail technologically advanced medical treatment and therapies.
U.S. was the leading EVH system market in 2020. It is also anticipated that the U.S. will hold the largest revenue share over the forecast period owing to the presence of favorable reimbursement policies related to the endoscopes and high incidence of coronary diseases among the U.S. population, due to huge adoption of a sedentary lifestyle. Based on the data published by the U.S. CDC, approximately 370,000 people die due to coronary heart diseases. Moreover, the easy availability of technologically advanced minimally invasive CABG surgeries is another crucial factor expected to drive the U.S. market.
Key Players
Maquet Holding B.V. & Co. KG.; Saphena Medical, Inc.; Terumo Cardiovascular Systems Corporation; Sorin Group, Inc.; OLYMPUS CORPORATION; LivaNova plc.; Med Europe S.r.l.; CARDIO MEDICAL GmbH; and Medical Instruments S.p.a.
Market Segmentation
Product Outlook
Disposable
Reusable
Regional Outlook
North America
The U.S.
Canada
Europe
Germany
The U.K.
Asia Pacific
China
Japan
Latin America
Brazil
Mexico
Middle East & Africa
South Africa
The Endoscopic Vessel Harvesting System market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Endoscopic Vessel Harvesting System market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Endoscopic Vessel Harvesting System market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Endoscopic Vessel Harvesting System market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Endoscopic Vessel Harvesting System market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Endoscopic Vessel Harvesting System capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Endoscopic Vessel Harvesting System by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Endoscopic Vessel Harvesting System market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Endoscopic Vessel Harvesting System market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Endoscopic Vessel Harvesting System market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Endoscopic Vessel Harvesting System industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Endoscopic Vessel Harvesting System market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Endoscopic Vessel Harvesting System market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Endoscopic Vessel Harvesting System market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Endoscopic Vessel Harvesting System market. These factors have benefited the growth of the global market for Endoscopic Vessel Harvesting System. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Endoscopic Vessel Harvesting System. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Endoscopic Vessel Harvesting System are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers