Global Coronary Artery Bypass Graft Market Size is Set for 6.6% CAGR, Aiming at $19.01 Billion by 2030

New York, NY, Aug. 30, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Coronary Artery Bypass Graft Market By Type (Off-Pump, Minimally Invasive Direct, And On-Pump), By Procedure (Single CABG Surgery, Double CABG Surgery, And Triple CABG Surgery), By End User (Hospitals, Cardiology Centers, ASCs, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Coronary Artery Bypass Graft Market size & share in terms of revenue was valued at USD 10.61 billion in 2022 and it is expected to surpass around USD 19.01 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 6.6% during the forecast period 2023 to 2030.”

What is Coronary Artery Bypass Graft? How big is the Coronary Artery Bypass Graft Industry?

Report Overview:

The global Coronary Artery Bypass Graft market size was worth around USD 10.61 billion in 2022 and is predicted to grow to around USD 19.01 billion by 2030 with a compound annual growth rate (CAGR) of roughly 6.6% between 2023 and 2030.

A coronary artery bypass graft, often known as CABG, is a surgical operation that is used to treat coronary artery disease (CAD). CAD is a condition in which the blood arteries that supply the heart with oxygen-rich blood become blocked or restricted. The market for coronary artery bypass grafts (CABG) has a substantial influence on the healthcare sector as well as the economy as a whole. The CABG business is benefiting significantly from the rapid development of relevant technologies. The expansion of the industry has been aided by developments in technology such as less invasive treatments, robotic-assisted surgeries, and imaging systems. These advancements have shortened the amount of time needed for patients to recuperate and boosted the success rate of CABG treatments. On the other hand, CABG procedures are notoriously difficult and frequently call for the utilisation of specialised hardware, highly trained medical personnel, and post-operative care.

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Global Coronary Artery Bypass Graft Market: Growth Factors

A growing number of people suffering from cardiovascular ailments

The increased incidence of cardiovascular disorders, more notably coronary artery disease (CAD), is one of the most important factors driving growth in the CABG industry. Worldwide, coronary heart disease is the leading cause of death. It is accountable for a tremendous load on healthcare systems around the world, as it affects millions of people all over the world. According to the World Health Organisation (WHO), cardiovascular diseases are responsible for the deaths of around 18 million people annually, which accounts for 31% of all fatalities worldwide. Factors such as an unhealthy diet, a sedentary lifestyle, a high prevalence of obesity, and smoking have all contributed to greater rates of coronary artery disease in certain regions, such as Europe and North America. In addition, the occurrence of the disease has been growing in a number of Asian countries, including China and India. because of the continued trend towards urbanisation and the acceptance of western ways of living. CABG is a common surgical treatment that is used to treat severe cases of coronary artery disease (CAD), which is a primary cause of mortality and morbidity around the world. It is anticipated that the need for CABG treatments would increase as the prevalence of CAD continues to rise, which will contribute to the expansion of the global market for coronary artery bypass grafts.

The increasing burden that comes with surgical risks

The coronary artery bypass grafting (CABG) operation is an invasive form of surgery that requires opening the chest and temporarily stopping the heart. As is the case with any surgical procedure, there is always the possibility of complications arising from the utilisation of cardiopulmonary bypass, as well as bleeding, infection, and unpleasant reactions to the anaesthesia. These dangers provide a greater threat to people who already have many medical conditions or who are elderly. In addition, coronary artery bypass graft surgery calls for highly trained cardiac surgical teams as well as modern healthcare facilities that are outfitted with the essential infrastructure and apparatus. This, in turn, would further impede the development of the entire coronary artery bypass graft market to some degree.

The development of emerging technologies in conjunction with an increase in expenditures made by important players

The recent technological advances that have been made in surgical procedures are providing enough potential for the companies who are active in the coronary artery bypass graft market. The use of techniques that require only a small amount of surgical incision is a relatively new development in the field of coronary artery bypass graft (CABG) surgery. It is widely acknowledged that there has been a substantial improvement in the safety and effectiveness of CABG procedures as a result of technological developments. Better patient outcomes, shorter lengths of hospital stays, and more expedient recovery times are all made possible by the use of minimally invasive procedures, robot-assisted operations, enhanced graft materials, and imaging modalities. As a result of these improvements, medical professionals now have the ability to give patients with state-of-the-art CABG operations and to entice patients who are looking for sophisticated treatment choices.

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Report Scope

Coronary Artery Bypass Graft Market: Segmentation Analysis

The market for coronary artery bypass grafts is broken down into distinct submarkets according to kind, operation, end-user, and geographic location.

Off-pump, Minimally Invasive Direct, and On-pump are the three sub-segments that make up the global market when broken down by type. Among them, the off-pump sector accounted for more than half of the total revenue in 2022 and held the majority share of the market overall. In addition, it held the majority share of the market in 2022. The expansion of this market segment has been encouraged to a significant degree by the associated benefits, which include shorter hospital stays, smaller incisions, and quicker recoveries.

The global market for coronary artery bypass grafts can be broken down into three different sub-sectors: Single CABG Surgery, Double CABG Surgery, and Triple CABG Surgery, depending on the method. Among them, the single CABG operation category recorded the lion's share of revenue at more than 30 percent, growing at a compound annual growth rate (CAGR) of nearly 9 percent during the study period. It is important to highlight that the success of the CABG procedure is heavily reliant on the presence of one or more occluded heart arteries. On the other hand, it is anticipated that the Triple CABG Surgery category will rise at the highest growth rate throughout the course of the study period.

When broken down by end-user, the market is segmented into healthcare facilities such as hospitals, cardiology centres, ambulatory surgical centres, and others. The hospital sector was the one that brought in the most revenue for the company in 2022, accounting for the largest share of total sales.

The global Coronary Artery Bypass Graft market is segmented as follows:

By Type

• Off-pump
• On-pump
• Minimally Invasive Direct

By Procedure

• Single CABG Surgery
• Double CABG Surgery
• Triple CABG Surgery

By End User

• Hospitals
• Cardiology Centers
• ASCs
• Others

Browse the full “Coronary Artery Bypass Graft Market By Type (Off-Pump, Minimally Invasive Direct, And On-Pump), By Procedure (Single CABG Surgery, Double CABG Surgery, And Triple CABG Surgery), By End User (Hospitals, Cardiology Centers, ASCs, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” Report At https://www.zionmarketresearch.com/report/coronary-artery-bypass-graft-market

Competitive Landscape

Some of the main competitors dominating the global Coronary Artery Bypass Graft market include - 

• Medtronic
• Edwards Lifesciences
• Terumo Corporation
• Guidant Group
• Vitalitec International Inc.
• MAQUET Holding B.V.
• Novadaq Technologies Inc.
• KARL STORZ GmbH & Co. KG
• Genesee Biomedical Inc.
• Sorin Group

 Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Coronary Artery Bypass Graft market is likely to expand at a CAGR of around 6.6% during the forecast period (2023-2030).                  
• In terms of revenue, the Coronary Artery Bypass Graft market size was valued at around US$ 10.61 billion in 2022 and is projected to reach US$ 19.01 billion by 2030.
• CABG procedures can significantly improve patients' quality of life by relieving symptoms and preventing cardiac events. CABG procedures are often sought after by patients globally, leading to the emergence of medical tourism.
• Based on the type, the Off-pump segment is expected to account for a significant share of the market during the forecast period.
• Based on the end user, the ASCs segment is expected to grow with the fastest growth rate over the forecast period. Rising demand for minimally invasive surgeries, coupled with advancements in technologies in surgical devices and equipment will support the segment growth.
• Based on region, North America is expected to dominate the market during the forecast period. Growing product demand, increasing investment in healthcare infrastructure, and the growing number of key players support regional growth.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Coronary Artery Bypass Graft industry?
• What are the main driving factors propelling the Coronary Artery Bypass Graft Market forward?
• What are the leading companies in the Coronary Artery Bypass Graft Industry?
• What segments does the Coronary Artery Bypass Graft Market cover?
• How can I receive a free copy of the Coronary Artery Bypass Graft Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Type, By Procedure, By End User, and By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

North America is expected to dominate the market during the forecast period

The global Coronary Artery Bypass Graft market share is dominated by North America. The North American market is projected to experience a steady CAGR over the years. The North American CABG market is competitive, with various medical device companies and healthcare providers offering CABG procedures and related products. Prominent companies in the market include Medtronic, Edwards Lifesciences, Abbott Laboratories, Terumo Corporation, and LivaNova, among others.

On the other side, advancements in surgical techniques and imaging technologies have improved the safety & efficacy of CABG procedures which would, in turn, act as an important driving factor for the Asia Pacific market growth.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

• Recently in August 2022, Medtronic announced the completion of its acquisition of Affera, Inc. Affera company is a medical technology company dedicated to delivering unrivaled innovative solutions to address the rapidly growing cardiac arrhythmia market. This collaboration is aimed at increasing the cardiovascular product portfolio of the company.
• Grand Pharmaceutical Group of China announced its investment of EUR 15 million in Xeltis in August 2022. Headquarters in the Netherlands, this company is a renowned medical device firm. Grand Pharmaceutical has created a polymer-based restorative device for cardiovascular treatment.

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