Endoscopic Vessel Harvesting Market Size

Endoscopic Vessel Harvesting Market Analysis

The Endoscopic Vessel Harvesting Market size is estimated at USD 0.5 billion in 2024, and is expected to reach USD 0.58 billion by 2029, growing at a CAGR of 3.94% during the forecast period (2024-2029).

Due to the COVID-19 pandemic, the number of visits to hospitals and clinics for cardiac care decreased during the early pandemic, dampening the demand for procedures such as endoscopic vessel harvesting. For instance, according to an article published by the Journal of American College of Cardiology in August 2022, a few studies of health facility admissions for cardiovascular diseases found significant decreases in cardiovascular disease-related hospital admissions during the pandemic. Also, the article stated that studies of population-level cardiovascular disease mortality differed across countries, with most showing decreases. Thus, due to the COVID-19 pandemic, the overall cardiovascular disease market, including endoscopic vessel harvesting, was significantly impacted during the initial pandemic. However, as the pandemic has subsided, cardiac care has returned to normal, so the studied market is expected to have stable growth during the forecast period of the study.

Factors driving the growth of the studied market include the increasing prevalence of cardiovascular diseases such as coronary artery disease and peripheral artery disease, growing preference for minimally invasive harvesting owing to its advantages over conventional methods, and the rising geriatric population. For instance, according to the CDC Report in September 2021, peripheral artery disease (PAD) affects both men and women, but African Americans are at a higher risk of developing it. Compared to non-Hispanic white people, Hispanics may have similar to slightly higher rates of PAD. PAD affects approximately 6.5 million people in the United States aged 40 and up. Thus, the rising prevalence of PAD is expected to increase the demand for peripheral stents, thereby boosting market growth.

Additionally, the senior population, more prone to developing coronary artery disease and peripheral artery diseases, is anticipated to drive market growth. For instance, as per UN World Population Prospects 2022 data, the share of the global population aged 65 years or above is projected to rise from 10% in 2022 to 16% in 2050. Also, it is estimated that by 2050, the number of persons aged 65 years or over worldwide is projected to be more than twice the number of children under age 5 and about the same as the number of children under age 12.

Furthermore, according to an article published by the Journal of Thoracic Disease in March 2021, a study showed that patients with minimally invasive vein or vessel harvesting went home four days earlier than patients with open harvesting procedures. This suggests that the increasing advantages of minimally invasive harvesting procedures are also expected to boost the market's growth.

Hence, due to the factors above, such as the rising prevalence of diseases such as coronary artery disease and peripheral artery disease, the rising geriatric population, and the increasing advantages of minimally invasive harvesting procedures, the studied market is expected to experience growth during the forecast period of the study. However, factors such as the availability of alternative treatment methods and poor reimbursement scenarios are expected to impede the market's growth.