The coronary artery bypass graft market is projected to reach USD 17,753.4 Million by 2030 at 8.2% CAGR during the forecast period 2022-2030. Coronary artery bypass grafting (CABG) is a type of bypass surgery that involves rerouting blood flow to the heart. This is prescribed for patients with severe coronary artery disease. A single or many grafts are utilized depending on the number of blocks. CABG surgery is used to improve one's quality of life and to alleviate the symptoms of angina and other cardiovascular diseases. In the United States, CABG is the most common type of open-heart surgery. Deskbound lifestyles, worry, stress, and a high intake of junk food are all factors that contribute to cardiovascular disease in people all over the world. The coronary artery bypass graft market value is quickly expanding.
SARS-CoV-2, a new coronavirus closely linked to SARS-CoV, causes COVID-19, an acute respiratory illness. The virus is spread from person to person by respiratory droplets by both sick and asymptomatic people in close contact. Transmission by aerosols and potentially contact with fomites is also possible, though this is not regarded to be the predominant route. Acute myocardial injury without obstructive coronary artery disease, which may present with increased troponin with or without additional symptoms as arrhythmias such as atrial arrhythmias, ventricular tachycardia, and ventricular fibrillation, may be related to COVID-19. Acute coronary syndrome (STEMI or NSTEMI) with obstructive, nonobstructive, or no coronary artery disease, which may present with chest pain, elevated troponin, wall motion abnormalities ST-segment elevation or depression, T-wave abnormalities, heart failure with or without cardiogenic shock, which may present as de novo heart failure with reduced ejection fraction (HFrEF). Cardiovascular comorbidities were observed to be present in 4.2 percent of COVID-19 participants (including moderate infection).
Coronary Artery Bypass Graft Market Dynamics
The rapid expansion can be attributed to an increase in the number of cases of cardiovascular disease as a result of changing lifestyles, as well as an increase in patient awareness of the condition, its surgeries, and therapies. The global incidence of various coronary heart diseases, attractive reimbursement schemes, and the rise in the geriatric population are the primary drivers driving the Coronary Artery Bypass Graft Market Share and Coronary Artery Bypass Graft Market Growth. According to the Global Health And Wellness Report, nearly 40% of the adult population in the United States was diagnosed with a cardiovascular condition, resulting in increased demand for coronary artery bypass surgery and better cardiovascular devices for efficient treatments, fueling market growth throughout the Coronary Artery Bypass Graft Market Forecast period.
The global coronary artery bypass graft market is restrained by a lack of regulatory clearances, an increase in cardiac problems after CABG, and the high cost of operation. However, unfavorable reimbursement regulations and the high cost of sophisticated Coronary Artery Bypass Graft procedures will limit the market's growth and the. While the high risks and complications associated with Coronary Artery Bypass Graft procedures will provide a hurdle to the market's Outlook. Thus, these all factors will limit the coronary artery bypass graft market trends.
Various technological advancements have influenced the Coronary Artery Bypass Graft Industry, and technology has played a significant role in this market. During the forecast period, the on-pump CABG technology is predicted to have the biggest market share in the coronary artery bypass grafting industry. The market's growth is being fueled by the rising usage of various devices like oxygenators, stabilizers, and heart-lung machines in CABG procedures. The off-pump CABG market, on the other hand, is expected to rise at the quickest CAGR during the forecast period, owing to significant advancements in technology that have improved safety, efficiency, reduced the risk of bleeding during surgery, and reduced the risk of stroke and cardiac muscle damage. Increased availability of novel technologies, such as the advent of Totally Endoscopic Robotically Assisted Coronary Artery Bypass (TECAB) in this technology, which has attracted a lot of interest in recent years, is also projected to drive market expansion.
Coronary Artery Bypass Graft Market Segment Overview
Based on the type, the market has been segmented as follows:
Based on the procedure, the market has been segmented as follows:
Based on the end-users, the market has been segmented as follows:
Coronary Artery Bypass Graft Market Regional Classification
The greatest market for coronary artery bypass grafts in the world is North America. A steep rise in the global prevalence of multiple cardiovascular indications such as CAD, strokes, and atrial fibrillation due to the rise in chronic diseases such as diabetes and obesity necessitating CABG procedures, and thus a rise in demand for surgical grafts and devices, are the major factors driving the growth. The second-largest market for coronary artery bypass graft surgery in Europe. In Europe, the industry is being driven by improved healthcare infrastructure and increased awareness of cardiovascular illnesses and their treatment. In the coronary artery bypass graft industry, Asia Pacific is predicted to be the fastest expanding region. The coronary artery bypass graft market in India is expected to grow due to an increase in medical tourism. Japan and China are likely to lead the market due to technological improvements and the availability of medical devices. Because of the rising frequency of cardiovascular disorders and technological advancements, the market for coronary artery bypass grafts in The Middle East & Africa has a lot of potentials.
Coronary Artery Bypass Graft Market Competitive Landscape
The market for Coronary Artery Bypass Grafting is moderately competitive, with several prominent competitors. To compete with existing items, a few significant businesses are producing fresh products and technologies, while others are purchasing and partnering with other companies in the market. Some of the key players in the Coronary Artery Bypass Graft Market are as follows:
The market research provides a thorough picture of the current market landscape, including historical and projected future market size in terms of value and volume, technical advancements, macroeconomic considerations, and market controlling factors. This research goes into great detail on the top significant players in the market, as well as their strategy. There is also an inclusion of a comprehensive analysis of several market segments and regions in this research.
Coronary artery bypass graft market is projected grow at approximately 8.2% CAGR during the assessment period (2022-2030).
The valuation of the global coronary artery bypass graft market is estimated to increase to USD 17,753.4 Million by the end of 2030.
Increase in the number of cardiovascular disease cases, growing awareness about the disease and availability of treatments, strong encouragement from government, and increasing medical expenditure are the major tailwinds pushing the growth of the global coronary artery bypass graft market.
North America holds the largest share in the global coronary artery bypass graft market, followed by Europe and the Asia Pacific, respectively.
Terumo Cardiovascular Systems Corporation, Hancock Jaffe Laboratories, Inc., VasoPrep Surgical, Neograft Inc., Dextera Surgical Inc., NOVADAQ Technologies Inc., Genesee BioMedical, MAQUET Holding B.V. & Co. KG., Sorin Group, and Edwards Lifesciences Corporation, are some of the major players operating in the coronary artery bypass graft market.