Endoscopic Vessel Harvesting Market Worth 504.8 Million USD by 2022
07 Mar, 2018, 15:00 GMT
PUNE, India, March 7, 2018 /PRNewswire/ --
According to a new market research "Endoscopic Vessel Harvesting Market by Product (EVH systems, Endoscope, Accessories), Usability (Disposable, Reusable), Vessel (Saphenous Vein, Radial Artery), Application (Coronary Artery Disease, Peripheral Artery Disease) - Global Forecast to 2022", published by MarketsandMarkets™, the global market is projected to reach USD 504.8 Million by 2022 from an estimated USD 420.5 Million in 2017, at a CAGR of 3.7% during the forecast period.
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The key factors driving the growth of this market include the increasing prevalence of cardiovascular diseases, growing preference for minimally invasive harvesting owing to advantages it offers over conventional methods, and rising geriatric population. However, the availability of alternative treatment methods for CADs and poor reimbursement scenario for EVH may hinder the growth of this market to a certain extent.
By product, the EVH systems segment accounted for the largest share of the market in 2017
On the basis of product, the Endoscopic Vessel Harvesting Market is segmented into EVH systems, endoscopes, and accessories. In 2017, the EVH systems segment accounted for the largest share of the global market. The large share of this segment can be primarily attributed to the rising adoption of minimally invasive procedures for vessel harvesting and disposable nature of these products.
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By usability, the disposable segment held the largest market share in 2017
Based on usability, the market is segmented into disposable and reusable products. The disposable segment commanded the largest share of the Endoscopic Vessel Harvesting Market in 2017. The large share of this segment can be attributed to the rising preference for disposable devices over reusable owing to the advantages offered.
By vessel type, the saphenous vein segment held the largest market share in 2017
Based on vessel type, the market is segmented into saphenous vein and radial artery. The saphenous vein segment commanded the largest share of the Endoscopic Vessel Harvesting Market in 2017. The large share of this segment can be attributed to the significant advantages offered by the saphenous vein in terms of wound complications, reduced pain, and aesthetics.
By application, the coronary artery disease segment held the largest market share in 2017
Based on application, the market is segmented into coronary artery disease and peripheral artery disease. The coronary artery disease segment commanded the largest share of the Endoscopic Vessel Harvesting Market in 2017. The large share of this segment can be attributed to the rising prevalence of cardiovascular diseases and increasing geriatric population.
North America dominated the market in 2017
In 2017, North America accounted for the largest share of the Endoscopic Vessel Harvesting Market, followed by Europe, Asia Pacific (APAC), and the Rest of the World (Latin America and the Middle East & Africa). Factors such as high burden of cardiac diseases in the US and Canada, the launch of the Hospital Readmissions Reduction Program (HRRP) and Episode-based Payment Models (EPMs) in the US, and growing preference for minimally invasive harvesting procedures in Canada are contributing to the large share of North America.
The Endoscopic Vessel Harvesting Market in Europe is expected to witness high growth during the forecast period. This can be attributed to the rising number of CABG procedures and growth in the geriatric population in the region.
The key players in the global Endoscopic Vessel Harvesting Market are Getinge (Sweden), Terumo (Japan), LivaNova (UK), Saphena Medical (US), KARL STORZ (Germany), Cardio Medical (Germany), and Medical Instruments Spa (Italy).
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