Endoscopic Vessel Harvesting System Market Is Predicted To Grow Swiftly Due To Increasing Grants & Investments By Government Bodies In Endoscopic Technology Till 2025: Grand View Research, Inc.
The global endoscopic vessel harvesting systems market is
expected to reach USD 3.4 billion by 2025, according to a new report by Grand
View Research, Inc. 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 very year. The growing demand for
these procedures and technologically advanced surgical procedures are among 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 these surgeries. On 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 vessels harvesting
technique is as effective as minimally invasive vessels harvesting technique.
However, the growing awareness regarding benefits of Endoscopic Vessels
Harvesting (EVH), such as minimally invasive nature, less complications,
and quick recuperation are some of the factors that are anticipated to propel
its growth during the forecast period.
U.S. endoscopic vessels harvesting systems market by
product, 2014 - 2025 (USD Million)
Browse full research report on Endoscopic
Vessel Harvesting System Market
Further key findings from the study suggest:
- 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% from
2017 to 2025
- Reusable EVH
systems emerged as the largest product segment in 2015 and is estimated to
generate revenue over USD 2,136.0 million by 2025
- Global
disposable EVH systems was USD 639.3 million in 2016 and is anticipated to
witness fastest growth over the next 8 years
- The industry
in Asia Pacific is projected to witness substantial growth over the next
decade owing to various developments across major economies in the region.
The regional market is expected to grow at a CAGR of 7.7% from 2017 to
2025
- Some of the
key players including MAQUET Holding B.V. & Co. KG; CARDIO MEDICAL
GmbH; Terumo Cardiovascular Group; Med Europe S.r.l. (Elite Life Care);
LivaNova plc. (Sorin and Cyberonics); and Saphena Medical, Inc. dominated
the global endoscopic vessels harvesting systems market.
For more information: http://www.grandviewresearch.com
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