Coronary Artery Bypass Graft Market Size

Global Coronary Artery Bypass Graft Market Overview

Coronary Artery Bypass Graft Market Size was valued at USD 10.5 billion in 2022 and is projected to grow from USD 11.4 Billion in 2023 to USD 21.31 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.2% during the forecast period (2024 - 2032). The introduction of technologically advanced products and the rise in prevalence of cardiovascular diseases like myocardial infarction (MI), coronary artery disease (CAD) or coronary heart disease (CHD), hypertension, and peripheral vascular disease are the major market drivers anticipated to fuel market growth globally.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Coronary Artery Bypass Graft Market Trends

• Growing incidence of cardiovascular disease to propel market growth

The key driver of the rise in the global market for coronary artery bypass graft devices is the increase in cardiovascular disease cases, which is mostly related to conditions including obesity, diabetes, and high blood pressure. For instance, cardiovascular illness is one of the main causes of death worldwide, according to the WHO's 2021 factsheet. Almost 17.9 million people died from it in 2019, and 75 percent of cardiovascular disease deaths take place in low- and middle-income nations. The demand for coronary artery bypass graft (CABG) devices has increased as a result of the development of new and improved CABG technologies, such as robotic-assisted systems. Furthermore, as the population ages, the prevalence of cardiovascular disease rises, creating a greater need for coronary artery bypass graft surgeries and the related equipment, leading to the expansion of the market for coronary artery bypass graft devices. Thus, this factor is driving the market CAGR.Figure 1: Prevalence of Osteroarthritis

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Furthermore, to treat cardiovascular disorders, coronary artery bypass grafting (CABG) is being recommended for more older patients as the population ages. As octogenarians have the highest prevalence of coronary artery disease and are the fastest-growing cohort, cardiothoracic surgeons are increasingly being directed to them for surgical revascularization. The percentage of patients over 70 who underwent heart surgery grew from 11.2 to 36.7% in Germany between 1989 and 2000. The possibility of unsuccessful surgery is one of the issues with operating on older individuals. Patients who are older or who have frail tissue are worried that they won't heal as well. The market will grow as a result of all of these particular elements.

However, the rise of the market is predicted to be fueled by favourable reimbursement policies for coronary artery bypass grafting across various countries. The need for differential cardiac surgery tariffs in Israel at the time of an ageing population and emerging technology: Importance of procedure type and patient complexity as assessed by EuroSCORE, according to a study published in the Israel Journal of Health Policy Research in September 2021, states that a surgery requiring only CABG will be reimbursed similarly to surgery requiring CABG and replacement of two valves. Hence, all CABG procedures are compensated similarly to heart valve replacement procedures, and the existence of a suitable CABG reimbursement procedure is anticipated to promote market growth. Thus, it is anticipated that this aspect will accelerate coronary artery bypass graft market revenue globally.

Coronary Artery Bypass Graft Market Segment Insights

Coronary Artery Bypass Graft Type Insights

The Coronary Artery Bypass Graft Market segmentation, based on type, includes off-pump, on-pump, minimally invasive direct CABG, endoscopic vein harvesting and others. The on-pump segment held the majority share in 2022 in the Coronary Artery Bypass Graft Market data. Cardiothoracic or cardiac surgeons' increasing preference for on-pump CABG procedures, together with their increasing usage of heart-lung machines, oxygenators, positioners, and stabilisers, has contributed to the market's expansion.

Coronary Artery Bypass Graft Type Procedure Insights

The Coronary Artery Bypass Graft Market segmentation, based on procedure, includes single CABG surgery, double CABG surgery, triple CABG surgery, quadruple CABG surgery and others. The single CABG surgery segment dominated the market growth for coronary artery bypass graft in 2022 and is projected to be the faster-growing segment during the forecast period, 2024-2030. Single CABG (Coronary Artery Bypass Graft) surgery is a surgical procedure used to treat severe coronary artery disease. It is also referred to as a "coronary bypass" or "heart bypass." A bypass is made around a blocked or congested portion of one or more coronary arteries, which carry blood to the heart muscle, during the treatment.

Coronary Artery Bypass Graft Type End-User Insights

The Coronary Artery Bypass Graft Market data, based on end-user, includes Hospitals, Cardiology Clinics, Research Institutes and Others. The hospitals segment dominated the coronary artery bypass graft market revenue for coronary artery bypass graft in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. This increase can be attributed to the hospital's increasing number of new heart-related cases. Also boosting the growth of this market is the rising patient preference for healthcare facilities with cutting-edge infrastructure and the availability of highly skilled and experienced doctors in hospitals.

Figure 2: Coronary Artery Bypass Graft Market, by End-User, 2023 & 2030 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Coronary Artery Bypass Graft Type Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America coronary artery bypass graft market accounted for USD 4.8 billion in 2022 with a share of around 45.80% and is expected to exhibit a significant CAGR growth during the study period. One of the main causes of the growth is the sharp increase in the prevalence of various cardiovascular conditions, including coronary artery disease, strokes, and atrial fibrillation, around the world as a result of the rise in lifestyle-related illnesses like diabetes and obesity, which increase the need for surgical grafts and devices.

Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: CORONARY ARTERY BYPASS GRAFT MARKET SHARE BY REGION 2023 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe coronary artery bypass graft market accounts for the second-largest market share. Due to advancements in healthcare infrastructure, technologies, etc., which have provided access to high-quality care services at a reasonable price, it is one of the most developed places where CABG operation is offered. Moreover, people living longer lives are more prone to getting chronic illnesses like heart failure or coronary artery diseases. Further, the UK coronary artery bypass graft market held the largest market share, and the Germany coronary artery bypass graft market was the fastest growing market in the region.

Asia Pacific coronary artery bypass graft Market is expected to grow at the fastest CAGR from 2024 to 2030 due of the ageing population and rising cardiovascular disease prevalence. The number of surgeries will rise as a result, which may be ascribed to a number of causes like high disposable income, a developing healthcare industry, increasing public awareness of health issues as a result of cutting-edge marketing tactics used by major players, etc. Moreover, China coronary artery bypass graft market held the largest market share, and the India coronary artery bypass graft market was the fastest growing market in the region.

Coronary Artery Bypass Graft Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the coronary artery bypass graft market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the coronary artery bypass graft industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies adopted by manufacturers in the global coronary artery bypass graft industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, coronary artery bypass graft industry has provided medicine with some of the most significant benefits. The coronary artery bypass graft market major player such as Hancock Jaffe Laboratories, Inc., VasoPrep Surgical, Dextera Surgical Inc., Neograft Inc., Terumo Cardiovascular Systems Corporation, NOVADAQ Technologies Inc., MAQUET Holding B.V. & Co. KG., Genesee BioMedical, Sorin Group, Boston Scientific, Edwards Lifesciences Corporation and Others.

Formerly known as Red Line Thermometer Corporation, Terumo Corporation was established in 1921 to manufacture medical thermometers in Japan by a group of medical researchers under the direction of Dr. Kitasato Shibasabur. The company's first item was "Jintan Taionkei," the first thermometer created in Japan that could be purchased, and it has since developed into a maker of medical devices, putting out items for diabetic treatment, cardiovascular systems, and disposable medical equipment. In April 2022, Terumo Corporation changed the name of the "General Hospital Company" to its brand-new name, "Medical Care Solutions Company." In order to achieve ongoing growth and work towards Terumo's 5-Year Growth Strategy, the Medical Care Solutions Company will simultaneously launch its innovative brand, "Terumo Medical Care Solutions (TMCS)," and reorganize its business (GS26). Currently, a paradigm shift is taking place in the healthcare scene.

A biomedical/biotechnology engineering company and global manufacturer of medical devices for interventional medical specialties such as interventional radiology, interventional cardiology, electrophysiology, vascular surgery, cardiac surgery, endoscopy, peripheral interventions, neuromodulation, neurovascular intervention, oncology, urology, and gynaecology, Boston Scientific Corporation ("BSC") was founded in Delaware. Boston Scientific is well-known for creating the Taxus Stent, a stent that releases drugs to clear blocked arteries.

Key Companies in the coronary artery bypass graft market includes

• Hancock Jaffe Laboratories, Inc.


• VasoPrep Surgical


• Dextera Surgical Inc.


• Neograft Inc.


• Terumo Cardiovascular Systems Corporation


• NOVADAQ Technologies Inc.


• MAQUET Holding B.V. & Co. KG.


• Genesee BioMedical


• Sorin Group


• Boston Scientific


• Edwards Lifesciences Corporation


• Others

Coronary Artery Bypass Graft Industry Developments

August 2022: Grand Pharmaceutical Company, a Chinese pharmaceutical company, has made a 15 million euro investment in Xeltis, a renowned manufacturer of medical equipment with its Dutch headquarters. Grand Pharmaceutical has developed a polymer-based cardiovascular restorative device. One of the restoration devices used in coronary artery bypass graft (CABG) surgery is a heart valve. Another is a blood vessel with a small diameter.

January 2022: Results from the first preclinical trial using Humacyte's small-diameter (3.5mm) Human Acellular Vessel (HAV) in coronary artery bypass grafting (CABG) have been released by the company. These results were presented at Advanced Therapies Week.

Coronary Artery Bypass Graft Market Segmentation

Coronary Artery Bypass Graft Type Outlook (USD Billion, 2019-2032)

• Off-Pump


• On-Pump


• Minimally Invasive Direct CABG


• Endoscopic Vein Harvesting


• Others

Coronary Artery Bypass Graft Procedure Outlook (USD Billion, 2019-2032)

• Single CABG Surgery


• Double CABG Surgery


• Triple CABG Surgery


• Quadruple CABG Surgery


• Others

Coronary Artery Bypass Graft End User Outlook (USD Billion, 2019-2032)

• Hospitals


• Cardiology Clinics


• Research Institutes


• Others

Coronary Artery Bypass Graft Regional Outlook (USD Billion, 2019-2032)

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America