Endoscopic Vessel Harvesting Systems Market
Endoscopic Vessel Harvesting Systems Market (Component: Endoscopic Vessel Harvesting Systems, Endoscopes, Accessories; Vessel: Saphenous Vein, Radial Artery; Technique: Closed Tunnel Harvesting, Open Tunnel Harvesting; Application: Coronary Artery Bypass Grafting, Peripheral Artery Bypass; Usability: Single Use, Reusable) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
Endoscopic Vessel Harvesting Systems Market: Increasing Incidence of Infections Having Negative Impact on Popularity of Reusable Components
The premium placed on hygiene and cleanliness, of both, the setting in which a surgery takes place and the implements used, has been in the spotlight due to rise in the rate of infections owing to the use of reusable components and implements. The reusable components of endoscopic vessel harvesting system accessories, such as the dissector and harvester units, have been steadily losing popularity in recent years due to the elevated risk of cross contamination and complications arising from infections. This segment, which accounted for ~14% of the total share of the global endoscopic vessel harvesting systems market 2018, is expected to lose 2% of its share in the market by 2027.
However, the single-use segment of the total endoscopic vessel harvesting systems market, which occupied a lion’s share of the market of ~85%, valued at ~US$ 320 Mn in 2018, is set to grow at a steady pace over the forecast years. The biggest advantage it offers is the lowered risk of infection, which consequently leads to reduced operating costs in the long run.
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Saphenous Vein vs. Radial Artery: Which is the Better Choice for Endoscopic Vessel Harvesting Systems?
The saphenous vein, which has traditionally been the preferred choice for a graft used for coronary artery bypass grafting (CABG) procedures, counted for ~76% of the total market share in 2018, in the endoscopic vessel harvesting systems market. With the use of less invasive methods and techniques becoming the norm, endoscopic saphenous vein-graft harvesting has remained the preferred choice for CABG. To the patient, the benefits of saphenous vein-graft harvesting include faster healing process and reduced incidence of wound complications, which contribute to its popularity among patients. This segment is expected to expand at a steady ~2% CAGR over the forecast period, to hit the ~US$ 325 Mn mark by 2027.
However, despite increased interest in radial arterial grafts in recent years, expansion of this segment is likely to experience sluggish growth at a value CAGR of <1%. It accounted for a ~24% of the share of the market in 2018, but is expected to lose 2% of its share by the end of the forecast period in 2027.
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Rising Popularity of Closed Tunnel Harvesting Contributing to Market Growth
Open tunnel harvesting of grafts has been a popular technique for CABG, and accounted for ~46% of the total share of the endoscopic vessel harvesting systems market in 2018. Because it offers a lower chance of blood clot in comparison to closed tunnel harvesting, it is gaining popularity among patients opting for CABG procedures. It is anticipated to expand at a CAGR of ~1% over the forecast period, but yield 2% of its share to closed tunnel harvesting by the end of 2027.
Closed tunnel harvesting for endoscopic vessel harvesting systems, which accounted for the other 54% of the market share, is expected to grow at a faster pace of ~2% during the forecast period. Its popularity can be attributed to the lesser postoperative pain when compared to open tunnel harvesting procedures, coupled with enhanced comfort for the patient as well.
Alternative Treatments for PAD to Restrain Market
The growth of the global endoscopic vessel harvesting systems market has been predominantly slow, due to the availability of options and alternatives in treatment for both, peripheral arterial disease (PAD) and coronary artery disease (CAD), which do not include endoscopic vessel harvesting. These alternatives include medication and surgeries such as angioplasty, and the like. Catheter-based therapies and surgeries are also gaining ground on endoscopic vessel harvesting, which has had a negative impact on the growth of the endoscopic vessel harvesting systems landscape.
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Endoscopic Vessel Harvesting Systems Market: Analysts’ Overview
The endoscopic vessel harvesting systems market, which was valued at ~US$ 370 Mn in 2018, is expected to grow at a sluggish pace over the forecast period of 2019 - 2027. According to analysts at Transparency Market Research, this can, in part, be attributed to the availability of alternate treatments and procedures for the illnesses, in recent decades. Players in the market looking to leverage technical advancements to improve the technique of the procedure using visualization systems are likely to gain a competitive advantage in the global endoscopic vessel harvesting systems landscape.
Also, with the advent of minimally-invasive surgery, and increasing patient preference for the same, players in the endoscopic vessel harvesting systems market focusing R&D on implements that are viable for these procedures through smaller-than-traditional incisions are likely to witness maximum gains in the foreseeable future.
Global Endoscopic Vessel Harvesting Systems Market: Overview
- According to Transparency Market Research’s latest report on the endoscopic vessel harvesting systems market for the historical period of 2017 - 2018 and forecast period of 2019 - 2027, increase in the prevalence of cardiovascular diseases, increase in burden of chronic diseases, and rise in the patient population propelling the adoption of endoscopic vessel harvesting systems are key factors that are likely to boost the growth of 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.
- The global endoscopic vessel harvesting systems market is projected to expand at a CAGR of 1.5% over the forecast period.
Increase in Prevalence of Cardiovascular Diseases, and Rise in Geriatric Population: A Key Driver
- According to the WHO, cardiovascular disease (CVD) is the top cause of death, globally, with more people dying annually from CVDs than any other disease. Around 17.9 million people died of CVDs in 2016, representing 31% of all deaths, worldwide. Of these, 85% deaths were caused by heart attacks and stroke. Over 75% of CVD deaths took place in low- and middle-income countries.
- As per an article published in The Cardiology Advisor, adults aged more than 70 years are prone to suffer from coronary artery disease (CAD). The prevalence of CAD in people aged 65 and above is more than 20%, whereas, this percentage rises higher to 30% in those 70 years and above.
- As per the American Heart Association, in the U.S., 69.1% people aged 60 to 79 years and 84.7% people aged 80 and above were suffering from cardiovascular disease in 2016.
- Increase in the prevalence of chronic disorders, along with rise in the geriatric population is likely to propel the global endoscopic vessel harvesting systems market during the forecast period.
Availability of Alternative Treatment Methods for CAD and PAD to Restrain Market
- The availability of alternative treatment procedures for peripheral arterial disease (PAD) and coronary artery disease (CAD) hampers the endoscopic vessel harvesting systems market.
- Different treatment approaches for coronary artery disease and peripheral arterial disease include medications, catheter-based therapies, and surgery.
- Various types of drugs such as Aspirin, beta blockers, angiotensin-converting enzyme (ACE) inhibitors, angiotensin II receptor blockers (ARBs), nitroglycerin, and cholesterol-modifying medications are used to treat CAD and PAD, based on the symptoms.
- Along with open surgery, a few minimally-invasive catheter-based therapies are also performed for the treatment of CAD and PAD. Angioplasty and stenting are done to expand a blocked artery by placing a catheter and expandable mesh metal tube (a stent).
Endoscopic Vessel Harvesting Systems Market: Competition Landscape
- This report profiles the major players in the global endoscopic vessel harvesting systems market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments.
- Prominent players operating in the endoscopic vessel harvesting systems market include -
- Getinge AB
- LivaNova PLC
- Terumo Corporation
- Saphena Medical, Inc.
- KARL STORZ
- Med Europe S.r.l.
Endoscopic Vessel Harvesting Systems Market: Key Developments
Key players in the endoscopic vessel harvesting systems market are engaged in the development of new products, key mergers & acquisitions, collaborations, and integration. Key developments by industry players are likely to fuel the endoscopic vessel harvesting systems market. Some strategies in the endoscopic vessel harvesting systems market are as follows:
- In August 2019, Terumo Corporation invested US$ 50 Mn in two U.S.-based venture capital funds, Strategic Healthcare Investment Partners (S.H.I.P) and Catalyst Health Ventures (CHV). This investment is expected to enrich internal R&D with new technology, expanded strategy, and would also complement business development and acquisition.
- In June 2018, Saphena Medical Inc. was awarded a group purchasing agreement as a Breakthrough Technology with Premier, a national healthcare improvement company. Saphena Medical's Venapax Endoscopic Vessel Harvesting System is the first unitary EVH system on the market that allows for the saphenous vein or radial artery to be harvested for a coronary artery bypass graft procedure in a single comprehensive system. This agreement gives Premier members access to pre-negotiated pricing for the Venapax system.
- In February 2018, LivaNova plc entered into an agreement to acquire TandemLife, a privately-held company focused on advanced cardiopulmonary temporary support solutions (“TandemLife”). The Pittsburgh-based company offers four product systems, all built around a common pump and controller. These systems, which include ExtraCorporeal Life Support (“ECLS”) and Percutaneous Mechanical Circulatory Support (“pMCS”), are complementary to LivaNova’s strong offerings in cardiac surgery.
In the global endoscopic vessel harvesting systems market report, we have discussed individual strategies, followed by company profiles of the manufacturers of endoscopic vessel harvesting systems. The ‘Competitive Landscape’ section is included in the endoscopic vessel harvesting systems report to provide readers with a dashboard view and a company market share analysis of the key players operating in the global endoscopic vessel harvesting systems market.
Endoscopic Vessel Harvesting Systems Market - Scope of the Report
TMR’s report on the endoscopic vessel harvesting systems market studies the past as well as current growth trends and opportunities to gain valuable insights of the same indicators for the said market for the forecast period of 2019 to 2027. The report provides the overall market revenue of the endoscopic vessel harvesting systems market for the period of 2017 - 2027, with 2018 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the endoscopic vessel harvesting systems market during the forecast period.
The report is prepared after extensive research. Primary research involves bulk of the research efforts wherein, analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involves referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global endoscopic vessel harvesting systems market.
Secondary research also includes Internet sources, statistical data from government agencies, websites, and trade associations. Analysts employed a combination of the top-down and bottom-up approach to study various phenomena in the global endoscopic vessel harvesting systems market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global endoscopic vessel harvesting systems market. These indices serve as valuable tools for existing endoscopic vessel harvesting systems market players as well as for entities interested in entering the global endoscopic vessel harvesting systems market.
The report delves into the competition landscape of the global endoscopic vessel harvesting systems market. Key players operating in the global endoscopic vessel harvesting systems market are identified, and each one of them is profiled for their distinguishing business attributes. Company overview, financial standings, recent developments, and SWOTs are some of the attributes of the players in the global endoscopic vessel harvesting systems market that have been profiled in this report.
Key Questions Answered in Endoscopic Vessel Harvesting Systems Market Report
- What is the scope of growth of product companies in the endoscopic vessel harvesting systems market?
- What will be the Y-o-Y growth of the endoscopic vessel harvesting systems market from 2019 and 2027?
- What is the influence of changing trends in technologies on the global endoscopic vessel harvesting systems market?
- Will North America continue to remain the most profitable regional market for endoscopic vessel harvesting system providers?
- Which factors will impede the growth of the global endoscopic vessel harvesting systems market during the forecast period?
- Which are the leading companies in the global endoscopic vessel harvesting systems market?
A unique research methodology has been utilized by TMR to conduct comprehensive research on the growth of the global endoscopic vessel harvesting systems market, and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary sources referred to by analysts during the production of the global endoscopic vessel harvesting systems market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the endoscopic vessel harvesting systems market as primary sources.
These primary and secondary sources have provided exclusive information during interviews, which serves as a validation from endoscopic vessel harvesting systems market leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global endoscopic vessel harvesting systems market with accuracy. The study also uses the top-down approach to assess the numbers for each segment, and the bottom-up approach to counter-validate them. This has helped in reaching TMR’s estimates on future prospects of the global endoscopic vessel harvesting systems market more reliably and accurately.
Global Endoscopic Vessel Harvesting Systems Market - Segmentation