Endoscopic Vessel Harvesting System Market Report

Endoscopic Vessel Harvesting System Market Analysis By Product (Disposable, Reusable), By Region (North America (U.S., Canada), Europe (UK, Germany) Asia Pacific (Japan, China), Latin America, MEA), And Segment Forecasts, 2014 - 2025

Published: April 2017  |  75 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-447-5

Industry Insights

The global endoscopic vessel harvesting (EVH) system market size was estimated at USD 1,881.7 million in 2016. Increasing grants and investments by government bodies in endoscopic technology are expected to raise the demand for endoscopic medical equipment. This represents a good opportunity for the U.S. medical devices manufacturers.

In addition, the increasing number of product launches is one of the factors that indicates the surging R&D investment by various significant market players, such as Terumo Cardiovascular Systems Corporation and Maquet Holding B.V. & Co. KG. For instance, VirtuoSaph Plus EVH System received 510(k) premarket notification under class II medical devices by the U.S. FDA in April, 2016.

U.S. endoscopic vessels harvesting systems market by product, 2014 - 2025 (USD Million)

U.S. endoscopic vessels harvesting systems market

The technological advancements and innovation pertaining to the cardiovascular medical devices market is anticipated to drive growth. The introduction of EVH systems in the field of cardiac and vascular surgeries, such as Coronary Artery Bypass Grafting (CABG), has led to further expansion of opportunities for various medical devices companies. The growing number of start-ups, such as Saphena Medical, Inc., that are investing on their R&D activities is also among few factors expected to boost the market during the forecast period.

On December, 2016 the U.S. Centers for Medicare & Medicaid Services (CMS) announced the episode-based payment initiatives for CABG model. The initiative implies that acute care hospitals will participate in a retroactive bundle payment initiative related to CABG treatment, which starts with hospitalization and are allowed to extend for 3 months following hospital discharge. Till February 2017, 1,096 hospitals participated in this model.

The advances in percutaneous intervention have led to reduce the number of CABG performed each year. However, the growing adoption of EVH systems in CABG surgeries and increasing preference for minimally invasive surgeries are some of the key contributing factors that exhibit the surge in growth over the forecast period.

Product Insights

The EVH system market is segregated on the basis of product type: reusable and disposable. Reusable harvesting vessels systems emerged as the leading product category and accounted for over 66% of the total revenue in 2016. The commercial availability of reusable systems and 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 the 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, disposable system is expected to be the fastest growing segment in the coming few years owing the growing safety concern amongst healthcare professionals. The rapid technological improvement in disposable systems is also one of the pivotal factors anticipated to boost the demand.

Global endoscopic vessel harvesting system market, by product, 2014 - 2025 (%)

Global endoscopic vessel harvesting system market

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 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 amongst surgeons regarding new technologies pertaining cardiac surgeries is anticipated to impel growth of disposable EVH systems over the forecast period. Moreover, the increasing geriatric population with cardiovascular diseases and growing population those are more susceptible to various infections are among some determinants expected to propel the demand for disposable EVH systems during the forecast period.

Regional Insights

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 2016. It is also anticipated that the U.S. will hold 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 sedentary lifestyle. Based on the data published by the U.S. CDC, approximately 370,000 people die due to coronary heart diseases. Moreover, easy availability of technologically advanced minimally invasive CABG surgeries is another crucial factor expected to drive the U.S. market.

However, Asia Pacific is expected to be the fastest growing region in the coming few years. This region is anticipated to deliver enormous growth due to growing medical tourism industry, increasing per capita income, surging healthcare spending by the government, and rising public awareness regarding various coronary surgeries. China is anticipated to be the fastest growing segment in the Asia Pacific region.

In addition, Latin America is expected to follow the Asia Pacific region with a CAGR of 7.1%. Various countries in the Latin American region such as Colombia and Argentina are gaining importance due to rising medical tourism industry that caters to the global demand for low and affordable cardiac procedures. Therefore, the medical sector in these countries is transforming quite fast, thereby generating huge demand for advanced systems such as EVH systems.

Competitive Insights

The global EVH system market is highly competitive and fairly concentrated, with few top companies accounting for the maximum share of the global production in 2016. Some of the key participants include 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.

Growing investments in R&D activities and new product development are expected to be key parameters for maintaining competitive edge, with frequent partnerships being undertaken as an attempt to diversify product portfolios and gain market share. Various recent product launch and awareness campaign done by players such as Getinge Group, Key Access Institute, LLC, and others is also among few strategies to increase the adoption rate of EVH systems.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2016

Forecast period

2017 - 2025

Market representation

Revenue in USD Million and CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Country scope

U.S., Canada, Germany, UK, China, India, Brazil, Mexico, South Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

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Segments covered in the report

This report forecasts revenue growth at global, regional, & country levels and provides an analysis on the industry trends in each of the sub segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global endoscopic vessels harvesting systems market on the basis of product and region:

  • Product Outlook (Revenue, USD Million, 2014 - 2025)

    • Disposable

    • Reusable

  • Regional Outlook (Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • UK

    • Asia Pacific

      • China

      • Japan

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

      • South Africa

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