Market Leader - Endoscopic Vessel Harvesting Market
The global endoscopic vessel harvesting market is projected to reach USD 504.8 Million by 2022 from an estimated USD 420.5 Million in 2017, at a CAGR of 3.7%. The endoscopic vessel harvesting market is well established owing to the dominance by prominent market players. In 2016, Getinge (Sweden) and Terumo (Japan) held a share of 85% to 90% of the overall market.
Getinge dominated the endoscopic vessel harvesting market in 2016. The firm develops and commercializes EVH products and is one of the major manufacturers of EVH systems, endoscopes, and related accessories. The company offers innovative products like VASOVIEW and VASOVIEW HEMOPRO EVH Systems that have simplified the process of endoscopic vessel harvesting, thereby increasing the adoption of the technique. According to the company website, over 2 million EVH procedures have been performed until mid-2015, using the company’s EVH systems. Getinge strategically focuses on enhancing its presence in potential markets. It has established its Customer Relationship Management (CRM) platforms in countries like Australia, France, India, the Nordic region, and New Zealand to enable better coordination between sales teams. In addition, the company initiated a transformation program in 2015, which aimed to restore its organic growth along with increased competitiveness. The company focuses on customer-driven innovation that involves working with customers to develop new products. In addition, the company conducts various training programs to support the end users. This ensures proper and effective product use, ensuring best possible healthcare results. The firm also underwent portfolio simplification to optimize its product portfolio and remove unprofitable products. Such activities ensure the company’s focus on its best-selling products. With its strong geographic presence that includes production capabilities across 11 countries, operations in 44 countries, and sales in more than 150 countries, the company holds a strong foothold in the EVH market.
Terumo is one of the major players in the endoscopic vessel harvesting market. The company provides a wide range of products in this market including EVH systems, endoscopes, and generator devices. Furthermore, the company aims to develop innovative technologies for the treatment of cardiovascular diseases. It also invested approximately USD 312 million in 2016 on research and development activities. The company emphasizes on improving its existing products to better cater to the needs of the hospitals. The company established its Centers of Excellence in highly reputable medical institutions; these centers bring together clinicians to evaluate its EVH products and facilitate the learning of techniques and procedures that can improve clinical outcomes. The centers provide opportunities for clinicians to better understand the VirtuoSaph EVH system and procedure with the aid of experienced surgical clinicians, demo cases, and through practice procedures on simulators. Additionally, the company has a strong geographic reach with 82 sales offices and 24 production facilities worldwide, offering medical devices and services to cater to the needs of medical settings in more than 160 countries.
Some of the other players competing in this market are LivaNova (UK), Saphena Medical (US), KARL STORZ (Germany), Cardio Medical (Germany), and Medical Instruments Spa (Italy).
Related Reports:
Endoscopic Vessel Harvesting Market by Product (EVH systems, Endoscope, Accessories), Usability (Disposable, Reusable), Vessel (Saphenous Vein, Radial Artery), Application (Coronary Artery Disease, Peripheral Artery Disease) - Global Forecast to 2022
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