Market Size of Global Coronary Artery Bypass Grafting Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 7.80 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Coronary Artery Bypass Grafting Market Analysis
The coronary artery bypass grafting (CABG) Market is poised to grow at a CAGR of 7.8% during the forecast period.
The Covid-19 pandemic impacted the studied market significantly. The pandemic impacted the demand for medical equipment in numerous ways. Due to the fear of COVID-19 infection, the number of CABG procedures decreased, and there was a drop in coronary artery bypass operations during the initial phases of the pandemic. This had an adverse impact on the market studied. However, during the later phases of the pandemic, coronary artery disease became the high-risk comorbidity of COVID-19. For instance, according to an article published in the Egyptian Heart Journal in September 2022, when a study was conducted among a limited target population of ages between 53 and 68 years between April 2020 to April 2022, 54.55% of the studied population had a recent acute coronary syndrome (ACS) and 90.91% of the studied population underwent CABG during the period. Thus, such instances show that the demand for CABG among the target population increased during the later phases of the pandemic. This further fueled the studied market, and the market is anticipated to continue its strong hold over the forecast period.
The major factors driving the growth of the market are the global prevalence of various coronary heart diseases, favorable reimbursement initiatives, and the rise in the geriatric population. For instance, according to CDC data published in April 2022, every year nearly more than 795,000 people get affected by stroke in the United States. About 185,000 of these strokes or roughly 1 in 4 occur in persons who have already had a stroke, and approximately 610,000 of them are first or recurrent strokes. The rising occurrence of strokes has resulted in increased demand for coronary artery bypass surgery for efficient treatments, thus it is expected to propel market expansion over the forecast period.
Favorable reimbursement regulations for CABG in various countries across the globe are anticipated to drive market expansion throughout the forecast period. According to a study published in IJHPR in September 2021, a surgery involving only CABG will be reimbursed like surgery requiring CABG and replacement of two valves. As a result, all CABG surgeries are reimbursed similarly to heart valve replacement surgery. Thus, the availability of proper reimbursement for CABG procedures is likely to encourage the market's growth.
Therefore, factors such as a rise in coronary artery diseases and the availability of better reimbursement options are predicted to contribute to the market growth over the analysis period. However, the adoption of minimally invasive procedures like percutaneous coronary interventions may restrain the market growth over the forecast period.
Coronary Artery Bypass Grafting Industry Segmentation
As per the scope of the report, coronary artery bypass grafting (CABG) is a surgical treatment for patients with coronary artery disease (CAD) in which an alternate passage is created for blood to flow to the heart. It is common for three or four coronary arteries to be bypassed during surgery. The Coronary Artery Bypass Grafting Market is Segmented by Technology (Off-pump CABG, On-pump CABG, and Others), Products and Services (Grafts, Retractors, Services, and Others), End Users (Hospitals, Cardiology Clinics, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.
By Technology | |
Off-pump CABG | |
On-pump CABG | |
Others |
By Products and Services | |
Grafts | |
Retractors | |
Services | |
Others |
By End Users | |
Hospitals | |
Cardiology Clinics | |
Other End Users |
Geography | ||||||||
| ||||||||
| ||||||||
| ||||||||
| ||||||||
|
Global Coronary Artery Bypass Grafting Market Size Summary
The coronary artery bypass grafting (CABG) market is experiencing a robust growth trajectory, driven by the increasing prevalence of coronary heart diseases and favorable reimbursement policies. The market, which faced initial setbacks due to the COVID-19 pandemic, has rebounded as coronary artery disease emerged as a significant comorbidity. This resurgence is further supported by the rising geriatric population and the growing incidence of strokes, which necessitate CABG procedures for effective treatment. The availability of favorable reimbursement regulations across various countries is also expected to bolster market expansion. However, the adoption of minimally invasive procedures like percutaneous coronary interventions may pose challenges to market growth.
The off-pump CABG segment is anticipated to witness the fastest growth due to its associated benefits, such as enhanced safety, efficiency, and reduced risks during surgery. The increasing adoption of this technology is expected to drive the segment's expansion over the forecast period. North America holds a significant share of the market, attributed to the high prevalence of cardiovascular conditions and the rising demand for CABG procedures. The region's market growth is further supported by increased awareness and the launch of innovative products by key players. The competitive landscape is characterized by major companies like Medtronic Plc and Terumo Medical Corporation, which are focusing on developing novel technologies and strategic partnerships to maintain their market position.
Global Coronary Artery Bypass Grafting Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Overview
-
1.2 Market Drivers
-
1.2.1 Rise in Global Prevalence of Cardiac Disorders such as Strokes and Coronary Heart Diseases
-
1.2.2 Availability of Technologically Advanced Products and Reimbursement Policies
-
-
1.3 Market Restraints
-
1.3.1 Adoption of Minimally Invasive Procedures Like Percutaneous Coronary Interventions.
-
-
1.4 Porter Five Forces
-
1.4.1 Threat of New Entrants
-
1.4.2 Bargaining Power of Buyers/Consumers
-
1.4.3 Bargaining Power of Suppliers
-
1.4.4 Threat of Substitute Products
-
1.4.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION (Market Size by Value - USD million)
-
2.1 By Technology
-
2.1.1 Off-pump CABG
-
2.1.2 On-pump CABG
-
2.1.3 Others
-
-
2.2 By Products and Services
-
2.2.1 Grafts
-
2.2.2 Retractors
-
2.2.3 Services
-
2.2.4 Others
-
-
2.3 By End Users
-
2.3.1 Hospitals
-
2.3.2 Cardiology Clinics
-
2.3.3 Other End Users
-
-
2.4 Geography
-
2.4.1 North America
-
2.4.1.1 United states
-
2.4.1.2 Canada
-
2.4.1.3 Mexico
-
-
2.4.2 Europe
-
2.4.2.1 Germany
-
2.4.2.2 United Kingdom
-
2.4.2.3 France
-
2.4.2.4 Italy
-
2.4.2.5 Spain
-
2.4.2.6 Rest of Europe
-
-
2.4.3 Asia-Pacific
-
2.4.3.1 China
-
2.4.3.2 Japan
-
2.4.3.3 India
-
2.4.3.4 Australia
-
2.4.3.5 South Korea
-
2.4.3.6 Rest of Asia-Pacific
-
-
2.4.4 Middle East and Africa
-
2.4.4.1 GCC
-
2.4.4.2 South Africa
-
2.4.4.3 Rest of Middle East and Africa
-
-
2.4.5 South America
-
2.4.5.1 Brazil
-
2.4.5.2 Argentina
-
2.4.5.3 Rest of South America
-
-
-
Global Coronary Artery Bypass Grafting Market Size FAQs
What is the current Global Coronary Artery Bypass Grafting Market size?
The Global Coronary Artery Bypass Grafting Market is projected to register a CAGR of 7.80% during the forecast period (2024-2029)
Who are the key players in Global Coronary Artery Bypass Grafting Market?
Medtronic Plc, Getinge AB, Genesee Biomedical Inc, Terumo Corporation and Peter Surgical are the major companies operating in the Global Coronary Artery Bypass Grafting Market.