The coronary artery bypass graft market overview and analysis by type, by procedure and by end user- forecast till 2032
Market Research Future (MRFR) postulates that the global coronary artery bypass graft market is slated to garner USD 21.31 billion, grabbing a CAGR of 8.2% during the forecast period (2022-2032). According to estimates, changing lifestyles and the rising incidence of cardiovascular disease will help the market grow globally. Coronary artery bypass grafting (CABG) is a type of bypass surgery used to open up new blood vessels that supply the heart. Typically, patients with significant coronary heart disease have CABG. Anxiety, a desk-bound lifestyle, a larage intake of junk food, and stress are the main causes of CABG.
With the rising prevalence of cardiovascular disorders worldwide as a result of changing lifestyles, the market for coronary artery bypass grafts is predicted to grow rapidly. The market has grown internationally as a result of the development of treatments and operations as well as the rise in disease awareness. Increased endoscopic surgery adoption, demographic shifts, rising health issues like stress and obesity brought on by an ageing population and sedentary lifestyle, and soaring medical tourism are just a few of the key factors that are likely to accelerate market growth over the course of the appraisal period. The market is also driven by the rising need for repeated revascularization procedures, as well as the rising popularity of endoscopic vessel harvesting tools and anastomosis assistance equipment.
The creation of minimally obtrusive products has enabled the market to reach a wider range of consumers. Less complications, a smaller incision, less bleeding, and a reduced risk of infection are just a few of the benefits of minimally invasive devices that have made them so well-liked all around the world.
On the other hand, increasing problems following CABG, a lack of regulatory approvals, and the high cost of such procedures are some of the major obstacles thought to stifle long-term industry growth. Moreover, inadequate payment and reimbursement mechanisms, rising healthcare spending, and the consolidation of market leaders are projected to slow the market's growth internationally.
The prominent operating the global coronary artery bypass graft market players comprises Genesee BioMedical, MAQUET Holding B.V. & Co. KG., Edwards Lifesciences Corporation, Neograft Inc., Sorin Group, Dextera Surgical Inc., Terumo Cardiovascular Systems Corporation, VasoPrep Surgical, Hancock Jaffe Laboratories Inc., NOVADAQ Technologies Inc., and others.
Global Coronary Artery Bypass Graft Market: Segmental Analysis
The global coronary artery bypass graft market size has been segmented on the basis of type, procedure, and end-users.
By mode of type, the global coronary artery bypass graft market has been segmented into on-pump, off-pump, endoscopic vein harvesting, minimally invasive direct CABG, and others. Among these, the off-pump segment is estimated to gain significant prominence in the long run due to the advantages it offers. The reduced inflammatory response, minimal blood loss, lower postoperative complications, mortality rate, and lower morbidity drive the segment globally.
By mode of procedure, the global coronary artery bypass graft market has been segmented into double CABG surgery, single CABG surgery, quadruple CABG surgery, triple CABG surgery, and others.
By mode of end-users, the global coronary artery bypass graft market has been segmented into cardiology clinics, hospitals, research institutes, and others. Among these, the hospital's segment is likely to occupy a major share. The rising number of hospitals, increased prevalence of cardiovascular diseases, and improvements in the reimbursement policies are estimated to fuel the segment’s growth.
Regional Insights
Geographically, the global coronary artery bypass graft market spread across regions namely, Americas, Europe, Asia Pacific, and the Middle East & Africa.
Considering the global scenario, the coronary artery bypass graft market is dominated by the American region and is considered the largest regional market. North America is considered to command a larger share in this region owing to the high availability of specialty care services in tertiary care centers and hospitals, surging demand for treatment options for cardiovascular diseases, and increased incidences of cardiovascular diseases. The market in South America is witnessing a positive and a steady growth owing to the surging emphasis on coronary artery bypass procedure, the growing geriatric population suffering from chronic diseases like obesity and diabetes which increases the risk of cardiovascular disease and augmenting demand for better cardiovascular devices.
The European region is considered to occupy the second spot in the global market as governments in this region fund for R&D activities associated with medical science. Germany, France, Italy, Spain, and the U.K. are regarded as the most important country-based markets in this region. Moreover, the rising geriatric population with chronic diseases and increased incidences of cardiovascular disease are contributing to the market growth in this region.
The Asia Pacific region has emerged as the fastest growing market with the presence of economies like India, China, South Korea, and Japan. These economies are highly contributing to the market growth due to the rising prevalence of cardiovascular diseases, and growing demand cardiovascular treatment options.
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