New York, Jan. 25, 2024 (GLOBE NEWSWIRE) -- Market Size & Overview:
The Coronary Artery Bypass Graft (CABG) market is expected to experience a steady growth with a projected Compound Annual Growth Rate (CAGR) of 2.3%. The market is anticipated to increase from a value of US$17.61 billion in 2023 to US$20.65 billion by the end of 2030.
Several factors contribute to the growth of the global coronary artery bypass graft market. The escalating incidence of coronary artery disease, coupled with an aging population, plays a pivotal role in driving the demand for CABG procedures.
CABG is a medical procedure employed to treat coronary artery disease by creating a detour around narrowed or blocked coronary arteries. This surgical technique involves grafting a blood vessel, often from the patient's chest or limb, to redirect blood flow around the obstructed vessels. The primary goal of CABG is to mitigate the risk of heart attack, alleviate chest pain, and enhance overall heart function.
Technological advancements in surgical instruments and techniques are crucial contributors to market expansion. The improved healthcare infrastructure in emerging economies and the growing awareness of the benefits associated with CABG also facilitate market growth.
Additionally, lifestyle-related risk factors and the adoption of minimally invasive techniques contribute to the sustained expansion of the global coronary artery bypass graft market. Undertaking this procedure is especially critical for patients with severe coronary artery disease, as it significantly improves their overall cardiac health and quality of life.
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Market Scope:
| Report Coverage | Details | |
| Market Revenue 2023 | US$17.61 billion | |
| Estimated Revenue 2030 | US$20.65 billion | |
| Growth Rate - CAGR | 2.3% | |
| Forecast Period | 2023-2030 | |
| No. of Pages | 190 Pages | |
| Market Segmentation |
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| Regions Covered |
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| Key Companies Profiled |
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In a nutshell, the Persistence Market Research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the report at: https://www.persistencemarketresearch.com/market-research/coronary-artery-bypass-graft-market.asp
Market Growth Drivers:
Increasing Incidence of Coronary Artery Disease (CAD): The rising prevalence of coronary artery disease, a common cardiovascular condition, contributes significantly to the demand for CABG procedures. As lifestyles change and risk factors such as obesity and sedentary habits increase, the incidence of CAD continues to grow.
Aging Population: The demographic shift towards an aging population is a major driver for the CABG market. Elderly individuals are more prone to cardiovascular diseases, necessitating surgical interventions like CABG to address coronary artery issues.
Technological Advances: Ongoing advancements in surgical instruments and techniques enhance the effectiveness and safety of CABG procedures. Innovations in medical technology contribute to improved outcomes, reduced recovery times, and increased patient satisfaction, driving the market forward.
Enhanced Healthcare Infrastructure in Emerging Nations: As healthcare infrastructure improves in emerging economies, there is an increased accessibility to advanced medical procedures, including CABG. This expansion of healthcare services in developing regions contributes to the overall growth of the market.
Awareness of CABG Benefits: Growing awareness among patients and healthcare professionals about the benefits of CABG in reducing the risk of heart attacks, alleviating chest pain, and improving heart function is a significant driver. Education and awareness campaigns contribute to an increased acceptance of CABG as an effective treatment option.
Market Restraints:
Cost of Procedures: CABG procedures can be expensive, involving hospitalization, surgery, and post-operative care. The high cost associated with CABG may limit accessibility for certain patient populations, particularly in regions with limited healthcare resources or inadequate insurance coverage.
Alternative Treatment Options: Advancements in non-surgical interventions, such as percutaneous coronary intervention (PCI) and the use of stents, provide alternative treatment options for coronary artery disease. Patients and healthcare providers may opt for these less invasive alternatives, impacting the demand for CABG procedures.
Risk of Complications: While CABG is generally considered safe, like any surgical procedure, it carries some risks. Potential complications, such as infection, bleeding, or adverse reactions to anesthesia, can deter patients and healthcare providers from choosing CABG, especially in cases where less invasive options may be deemed sufficient.
Limited Expertise: Performing CABG procedures requires specialized surgical expertise. In regions with a shortage of skilled cardiac surgeons or limited access to advanced healthcare facilities, there may be challenges in meeting the demand for CABG procedures, potentially leading to delays in treatment.
Recovery Time and Rehabilitation: The recovery period following CABG can be lengthy, requiring significant post-operative care and rehabilitation. Some patients may opt for less invasive treatment options to avoid the extended recovery time associated with traditional CABG, impacting the market demand.
Opportunities:
Rising Geriatric Population: The aging global population is prone to cardiovascular diseases, increasing the demand for CABG procedures. Capitalizing on this demographic trend presents an opportunity for healthcare providers and manufacturers to cater to the specific needs of elderly patients.
Technological Innovations: Continued advancements in surgical techniques, medical devices, and imaging technologies offer opportunities to enhance the safety and effectiveness of CABG procedures. Developing and adopting innovative technologies can improve outcomes, reduce recovery times, and attract both patients and healthcare professionals.
Telemedicine and Remote Monitoring: The integration of telemedicine and remote monitoring solutions provides an opportunity to enhance post-operative care and monitor patients remotely. This can lead to better patient outcomes, reduced hospital readmissions, and improved overall efficiency in healthcare delivery.
Personalized Medicine: Advancements in genetic and molecular research offer the potential for personalized treatment approaches. Tailoring CABG procedures based on individual patient characteristics can improve the efficacy of interventions and minimize potential risks.
Global Expansion and Access to Healthcare: Efforts to improve healthcare infrastructure in emerging economies present opportunities for the expansion of CABG services. Collaborations between healthcare providers, governments, and international organizations can contribute to increased access to CABG procedures in underserved regions.
Market Segmentation
What Technology Will Be Targeted the Most for Installations?
The on-pump CABG segment is expected to maintain dominance due to its established effectiveness, while the off-pump CABG segment is anticipated to experience rapid growth. The shift towards minimally invasive procedures, offered by off-pump CABG without a heart-lung machine, aligns with advancing surgical technology, making it a favorable choice for patients and healthcare providers.
Which Procedure to Be Focused on the Most Regarding Sales?
The single CABG surgery segment is set to dominate the market, being the most common intervention for coronary artery disease. Meanwhile, the triple CABG surgery segment is expected to see rapid growth, driven by its comprehensive approach for advanced coronary cases with multiple vessel involvement.
Top Regional Markets
Why is North America Emerging as a Dominating Region?
North America is poised to lead the global Coronary Artery Bypass Graft (CABG) market due to advanced medical technologies, a well-established healthcare infrastructure, high incidence of cardiovascular diseases, and proactive adoption of innovative interventions. The region's robust healthcare reimbursement systems and commitment to cutting-edge advancements are key factors contributing to its dominant position.
What Opportunities Lie in East Asia for Manufacturers?
South Asia & Pacific is expected to experience the fastest growth in the global CABG market, driven by a growing population and an increasing incidence of cardiovascular ailments. The region's evolving healthcare infrastructure, heightened awareness of advanced cardiac interventions, and the influence of Western lifestyle-related risk factors contribute to the rising demand for CABG procedures.
Despite being in its early stages, the CABG market in South Asia & Pacific is poised for substantial growth, supported by economic development, healthcare investments, and a focus on preventive cardiology. This presents significant opportunities for market participants and contributes to the global landscape of coronary artery bypass graft procedures.
Key Recent Developments
Technological Advancements: Investigate any new technologies or techniques in CABG procedures, such as minimally invasive approaches, robotic-assisted surgery, or innovations in graft materials.
Clinical Trials: Look for information on ongoing or recently completed clinical trials related to CABG. This can provide insights into emerging treatments or therapies.
Market Trends: Explore market reports and analyses to understand trends in the CABG market, including factors like market growth, competitive landscape, and the adoption of new products.
Regulatory Updates: Stay informed about any changes in regulations or guidelines related to CABG procedures and devices, as these can impact the market dynamics.
Industry Collaborations and Partnerships: Investigate collaborations between healthcare institutions, research organizations, and industry players, as these partnerships often drive innovation in the medical field.
Product Launches and Approvals: Monitor announcements regarding the launch of new CABG-related products or the approval of novel devices by regulatory authorities.
Some of the market players:
- Teleflex Incorporated: Teleflex is a global provider of medical technologies designed to improve the health and quality of people's lives. The company specializes in critical care and surgical solutions, offering products for respiratory care, anesthesia, vascular access, urology, and surgical care.
- B. Braun Melsungen AG: B. Braun is a German medical and pharmaceutical company that focuses on developing and manufacturing healthcare products and services. They provide a wide range of medical devices, pharmaceuticals, and infusion therapy solutions.
- Smiths Medical (ICU Medical Inc.): Smiths Medical, now a part of ICU Medical Inc., is a global supplier of medical devices and equipment. The company produces a variety of products, including infusion systems, vascular access devices, patient monitoring equipment, and specialty devices for critical care and surgery.
- Becton, Dickinson and Company (BD): BD is a multinational medical technology company that develops, manufactures, and sells a broad range of medical supplies, devices, laboratory equipment, and diagnostic products. BD is known for its contributions to healthcare and medical research.
- Cardinal Health: Cardinal Health is a global healthcare services and products company. It provides pharmaceuticals, medical products, and services that help healthcare providers and manufacturers achieve both clinical and financial success.
- Redax S.p.A.: Redax is an Italian company specializing in the development and manufacturing of medical devices. The company focuses on products related to cardiovascular surgery, including devices for coronary artery bypass grafting (CABG).
- Merit Medical Systems:Merit Medical Systems is a company that develops and manufactures disposable medical devices used in interventional, diagnostic, and therapeutic procedures. Their products are used in cardiology, radiology, endoscopy, and other medical specialties.
- Getinge AB: Getinge is a global medical technology company that specializes in providing solutions for surgery, intensive care, infection control, and more. Their products include surgical tables, anesthesia systems, and sterilization equipment.
Coronary Artery Bypass Graft Market Research Segmentation
By Technology:
Off-pump CABG
On-pump CABG
By Procedure:
Single CABG surgery
Double CABG surgery
Triple CABG surgery
Quadruple CABG surgery
By End User:
Hospitals
Cardiology Clinics
Research Institutes
By Region:
North America
Europe
East Asia
South Asia & Oceania
Latin America
Middle East & Africa
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