Industry Insights
The global Endoscopic
Vessel Harvesting System Market size was
estimated at USD 1,881.7 million in 2016 and is expected to grow at a CAGR of
6.1% over the forecast period. Increasing incidences of cardiovascular
disorders leads to surge in demand for EVH. According to WHO, globally CVD is
the leading cause of death. It was estimated that approximately 17.7 million
people died from CVD’s in 2015 that represents 31% of all global deaths. In
addition, there is a rising prevalence of the risk associated with CVD
including obesity, diabetes mellitus, and high blood pressure, which is further
expected to boost demand for these devices.
Technological advancements
pertaining to cardiovascular medical devices is one of the pivotal factors
anticipated to propel the growth of the EVH systems. Growing investments by the
major players in this market pertaining to device upgradation and new product
launch is also amongst few factors driving the demand. For instance, Maquet
Cardiovascular LLC launched advanced VASOVIEW Technology for Endoscopic Vessel
procedures in Cardiac Surgery. In addition, increasing R&D activities with
surging number of new product launches is one of the factor that expected to
impel the market growth over forecast period.
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Key Questions
Answered
·
What are the sales or revenue produced by Endoscopic
Vessel Harvesting System products beyond all sectors during the forecast
period?
·
What are the key trends in the Endoscopic
Vessel Harvesting System market?
·
What are the leading drivers, limitations, and probabilities
in the industry?
·
Which segment will gain the highest revenue worldwide
and which product segment will expand at the fastest CAGR during the forecast
period?
·
In which region the Endoscopic Vessel
Harvesting System market to project lucrative CAGR during the forecast
period?
Growing preferance for
minimally invasive procedures and cost efficient surgeries is further boosts
demand for EVH systems. Some of the advantages associated with these devices
are minimum recovery time , reducing post surgery infection risk, and leaves
minimal surgery scars. For example, Sorin Group launched the VascuClear EVH
System in 2011, which reduces the patient’s pain, infection rates, recovery
time, and scarring. Also, rising geriatric population and growing number of
awareness programs related to cardiac health contribute to the demand for EVH
system.
Regional Insight
North America dominated the
market with the maximum share 39.54% in 2016. Some of the key factors
attributing to the market growth include increase in cardiac surgeries, high
prevalence of heart diseases in the U.S., and availability of minimally invasive
CABG surgeries. According to The University of Michigan, CABG is the most
common type of cardiac surgery performed in the region. In addition,
technological developments in endoscopic equipment, medical camera, and
operating room equipment & supplies market is one of the factors that drive
up the demand for such systems. Furthermore, favorable reimbursement policies
and rising incidences of coronary artery disease among the U.S population boost
up the demand of EVH system in the U.S.
Asia pacific region is
expected to be the fastest growing segment with a CAGR of 7.7% over the
forecast period. Factors such as high prevalence of cardiovascular diseases,
growing trend of medical tourism, increasing disposable income, and rising
awareness campaigns propel the growth in the region. On September, 2016, WHO
and United States Centers for Disease Control and Prevention (US CDC), launched
'Global Hearts' which is an initiative to prevent and control in countries like
India, Thailand, Sri Lanka, Nepal and Philippines participating in the Asia
Pacific region.
Competitive Insights
Some of the key
participants of global EVH system market include, Olympus Corporation; Maquet
Holding B.V. & Co. KG; Terumo Cardiovascular Systems Corporation; Saphena
Medical, Inc.; Medical Instruments S.p.a; LivaNova plc.; Cardio Medical GmbH;
Sorin Group, Inc. and Med Europe S.r.I.
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