Market Trends of Endoscopic Vessel Harvesting Industry
Coronary Artery Disease Segment is Expected to Hold a Significant Share in the Market Over the Forecast Period
Coronary artery disease (CAD) is a narrowing or blockage of the coronary arteries, usually due to plaque buildup. The growth of the segment is the rising prevalence of coronary artery disease (CAD) and the rising geriatric population.
According to an article published by PubMed Central in July 2022, coronary artery disease, also known as coronary heart disease, is often caused by decreased myocardial perfusion that causes diseases such as angina, myocardial infarction (MI), and heart failure, among others, and accounts for one-third to one-half of all cardiovascular diseases. Thus, due to the high burden of coronary artery disease, the studied segment is expected to experience growth during the forecast period of the study.
Furthermore, according to an article reviewed by Healthdirect Australia in June 2022, coronary heart disease is the most common cause of death in Australia, and several risk factors for this include smoking, excessive alcohol consumption, lack of exercise, social isolation, and being overweight or obese. Thus, the high burden of CAD in various countries is expected to boost the adoption of endoscopic vessel harvesting procedures for its treatment.
Moreover, the increased risk of CAD with increasing age and the rising geriatric population worldwide is another major factor driving the segment growth. For instance, according to an article updated by NCBI in November 2022, the incidence of CAD rises with age, regardless of gender. Additionally, the increasing investment in CAD research is expected to bring up advanced endoscopic vessel harvesting procedures in the market.
Thus, the factors above, such as the rising burden of CAD, the increasing geriatric population, and the increasing investment in research for CAD, are expected to boost the segment growth.
United States Holds the Largest Share of the Market
North America is expected to hold a significant market share in the endoscopic vessel harvesting market due to the rising burden of diseases such as coronary artery disease and peripheral arterial disease coupled with the rising geriatric population and the product launches by key market players.
According to the data published by Statistics Canada in July 2022, it was estimated that around 7,330,605 people were aged 65 years or older in Canada, and this accounted for 18.8% of the total population. Thus, as the geriatric population is more prone to peripheral arterial diseases, the rising geriatric population is expected to increase the demand for endoscopic vessel harvesting procedures, thereby driving market growth in the region.
According to an article published in Circulation Research in June 2021, peripheral arterial disease was estimated to affect 8.5 million adults in the United States, with a prevalence of 7%. Thus, the growing prevalence of PAD diseases in the country has boosted the demand for various treatment procedures; thereby, it is anticipated to drive the growth of the endoscopic vessel harvesting market over the forecast period.
Thus, the factors above, such as the rising burden of CAD and PAD and the increasing geriatric population, are expected to boost the segment growth.
