Innovations and technological advancements pertaining to medical devices used in the treatment of cardiovascular ailments have gained pace in the last few years. The advent of endoscopic vessel harvesting (EVH) systems such as coronary artery bypass grafting (CABG) for use in vascular and cardiac surgeries has further bolstered opportunities for medical devices companies. On the back of rising prospects for medical devices sales, the industry is gaining considerable traction from new entrants and start-ups such as Saphena Medical, Inc. Opportunities are highly lucrative for companies who do not shy away from pushing their research and development (R&D) spending.
Endoscopy vessel harvesting systems are mostly used during coronary artery bypass surgery. During the procedure, a surgeon mostly “harvests” healthy blood vessels from other body parts, often arm or leg to create the bypass graft.
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Global Endoscopic Vessel Harvesting System Market: Key Trends
The rising product launches in the last couple of years are indicative of the rising R&D investment by various market players. This alongside the rising grants and investment by government organizations in endoscopic technology is expected to bolster prospects for endoscope vessel harvesting system sales. On back of this, the U.S. represents lucrative opportunities for the overall market.
In addition, recent technological advancements in cardiovascular medical devices will aid the market’s expansion worldwide. Also various organizations such as Heart Valve Surgery Community and Pediatric Congenital Heart Association are working toward spreading awareness about congenital heart ailments. These organizations are engaged in research and development of novel therapeutics as well. Industry leaders are of the view, as surgeons gain knowledge about novel technologies concerning cardiac surgeries, opportunities for sales of endoscopic vessel harvesting systems will ripen. Moreover, with the increasing geriatric population, the demand for these devices is expected to surge, as aged people are more vulnerable to cardiac conditions.
Global Endoscopic Vessel Harvesting System Market: Market Potential
The global endoscopic vessel harvesting system market has exhibited strong growth in the past few years. While policies adopted by established players are thought as key to forging growth, contributions by start-ups are worth mentioning as well. This said, the market is also gaining traction on back of innovations in the endoscopic vessel harvesting technology.
In February 2017, surgeons at UHG introduced a novel technique intended at improving outcomes for patients undergoing cardiac surgery. Dr. Alan Soo and his team at UHG have introduced a novel method of harvesting veins from a patient’s leg. UHG is the first public hospital in Ireland to offer the surgery. Over the past fortnight, the procedure is conducted in a number of patients. With the latest technological advancements surgeons are able to harvest veins via keyhole techniques in 2 to 3 small incisions that measure lesser than 1 cm using specialized instrument and a video camera. This new technique of endoscopic vein harvesting is intended at reducing patient’s discomfort, lessen chances of wound infection, and ensure better cosmetic effect.
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Global Endoscopic Vessel Harvesting System Market: Regional Outlook
North America currently exhibits the most lucrative opportunities for enterprises operating in the endoscopic vessel harvesting system market. While developed regions will continue offering mainstay, opportunities prevalent in emerging nations such as India, Brazil, and China will grow as well on account of the rising government spending in the healthcare infrastructure. Also these nations report a high growth rate of geriatric population hence cardiovascular ailments. This, combines with the increasing willingness of people to spend in advanced healthcare will boost growth prospects for the market.
Global Endoscopic Vessel Harvesting System Market: Competitive Landscape
Considering opportunities exhibited in the last few years, the global endoscopic vessel harvesting system market exhibits a prevalence of intense competition. However, the vendor landscape has remained fairly concentrated, with a handful of companies holding the lion’s share in the overall market. Some of the prominent companies operating in the global endoscopic vessel harvesting system market are Med Europe S.r.l.; Saphena Medical, Inc.; Terumo Cardiovascular Systems Corporation; Maquet Holding B.V. & Co. KG.; LivaNova plc.; CARDIO MEDICAL GmbH; and OLYMPUS CORPORATION.
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