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The endoscopic vessel harvesting market share is expected to increase by USD 115.85 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.43%.
This endoscopic vessel harvesting market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers endoscopic vessel harvesting market segmentation by type (disposable and reusable) and geography (North America, Europe, Asia, and Rest of World (ROW)). The EVH market report also offers information on several market vendors, including Cardio Medical GmbH, CardioPrecision Ltd., Conmed Corp., ELITE LIFECARE, Getinge AB, HOYA Corp., Johnson and Johnson, KARL STORZ SE and Co. KG, LivaNova Plc, Med Europe Srl, Medical Instruments SpA, Medtronic Plc, Olympus Corp., Saphena Medical Inc., Smith and Nephew plc, Stryker Corp., Teleflex Inc., Terumo Corp., Troge Medical GmbH, Xcellance Medical Technologies Pvt. Ltd., and Zimmer Biomet Holdings Inc. among others.
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The increasing volume of endoscopic procedures coupled with the growing target population is notably driving the endoscopic vessel harvesting market growth, although factors such as stringent regulations and product recalls may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the endoscopic vessel harvesting industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Endoscopic Vessel Harvesting Market Driver
One of the key drivers fueling the endoscopic vessel harvesting market growth is the increasing volume of endoscopic procedures coupled with the growing target population. The demand for EVH has significantly increased over the past few years, mainly because of the rise in the incidence of various chronic conditions due to the changes in lifestyle and the growth in the elderly population. For instance, according to CDC statistics 2021, six in ten adults in the US have a chronic disease, and four in ten adults have two or more. In addition, around 86% of the country's annual healthcare expenditure of $2.7 trillion is spent on people with chronic medical health conditions. Thus, the rise in chronic health conditions is spurring the demand for EVH for diagnostic and therapeutic purposes, thus benefiting the market.
Key Endoscopic Vessel Harvesting Market Trend
High growth potential in emerging markets is one of the key endoscopic vessel harvesting market trends propelling the market growth. Emerging economies offer diagnosis and treatment at relatively lower costs compared with the developed nations, thereby making them the most favored destinations for medical tourism. Early diagnosis, as well as growing awareness of the availability of invasive and non-invasive diagnostic techniques, are encouraging vendors to increase their presence in these fast-growing markets. For instance, Olympus plans to provide training support and reinforce its after-sales service systems to cater to the growing demand for endoscope repair services. The company is focusing on expanding into developing countries in APAC, such as the Philippines, India, Indonesia, Vietnam, and Sri Lanka, which are witnessing sustained and high economic growth. Thus, the huge potential of emerging economies is likely to contribute positively to the global market.
Key Endoscopic Vessel Harvesting Market Challenge
The major challenge hindering the market growth is stringent regulations and product recalls. EVH is classified under Class II medical devices and is subject to stringent regulatory standards. Gaining regulatory approval for Class II and Class III devices is often difficult, unpredictable, and subjective. If vendors fail to provide clinical data with positive results in one specific region, then it can result in cost burden and uncertainty or impact other trials. Regulatory bodies have also imposed stringent labeling requirements and regulatory frameworks for Endoscopic vessel harvesting. For instance, vendors offering duodenoscopes are warned by the US Food and Drug Administration (FDA) to follow stringent reprocessing techniques. However, regulatory bodies can issue product recalls even after approval if a device has issues such as system malfunction or if it causes adverse effects in patients. Thus, stringent regulations and product recalls can hinder the growth of the market.
This endoscopic vessel harvesting market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global endoscopic vessel harvesting (EVH) market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the endoscopic vessel harvesting market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the endoscopic vessel harvesting market encompasses successful business strategies deployed by the key vendors. The endoscopic vessel harvesting (EVH) market is fragmented and the vendors are deploying growth strategies such as focusing on R&D to develop advanced products to compete in the market.
cardiomedical.de- Under the unified segment, the company is involved in offering the development of high-quality surgical and high-precision instruments such as aortic clamp sets, retractors and accessories, cannulae sump suckers, thoracic instruments, and many more which are used in surgical and vascular applications.
The endoscopic vessel harvesting market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the EVH market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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39% of the market’s growth will originate from North America during the forecast period. The US is the key market for the endoscopic vessel harvesting (EVH) market in North America. Market growth in this region will be faster than the growth of the market in other regions.
The increasing incidence of chronic diseases such as arthritis and Gastrointestinal (GI) diseases, including diarrhea, constipation, vomiting, and ENT disorders will facilitate the endoscopic vessel harvesting market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The COVID-19 pandemic in 2020 had a negative impact on the Endoscopic vessel harvesting market in North America, which resulted in the temporary closure of various industries, including those manufacturing EVH devices. However, in 2021, the demand for these products rebounded as manufacturing activities resumed due to widespread COVID-19 vaccination drives.
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The endoscopic vessel harvesting market share growth by the disposable segment will be significant during the forecast period. Disposable EVH systems are one-time use products used for performing EVH before CABG. They are preferred for medical procedures over reusable EVH systems due to growing safety concerns among healthcare professionals. Owing to these factors, the disposable EVH systems segment is expected to be the major contributor to the global endoscopic vessel harvesting market.
This report provides an accurate prediction of the contribution of all the segments to the growth of the endoscopic vessel harvesting (EVH) market size and actionable market insights on post COVID-19 impact on each segment.
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Endoscopic Vessel Harvesting Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.43% |
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Market growth 2022-2026 |
$ 115.85 million |
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Market structure |
Fragmented |
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YoY growth (%) |
3.86 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 39% |
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Key consumer countries |
US, Germany, UK, China, and Japan |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Cardio Medical GmbH, CardioPrecision Ltd., Conmed Corp., ELITE LIFECARE, Getinge AB, HOYA Corp., Johnson and Johnson, KARL STORZ SE and Co. KG, LivaNova Plc, Med Europe Srl, Medical Instruments SpA, Medtronic Plc, Olympus Corp., Saphena Medical Inc., Smith and Nephew plc, Stryker Corp., Teleflex Inc., Terumo Corp., Troge Medical GmbH, Xcellance Medical Technologies Pvt. Ltd., and Zimmer Biomet Holdings Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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