Rise in cardiovascular ailments estimates in the rise of Global Coronary Artery Bypass Graft Market with 6% CAGR between 2016 and 2022. Coronary artery bypass grafting (CABG) is a kind of bypass surgery that can create an alternate passage for blood to flow to the heart.
Market Research Future (MRFR) has published and released a research report about the global coronary artery bypass grafting market that vaticinates surge for this market with 6% CAGR during the forecast period between 2016 and 2022. In terms of cash, the market is expected to rise to the US $ 116 mn.
Observing the market structure, this report estimates the future growth potential of the market. It observes the strategies of the key players in the market and follows the competitive developments like joint ventures, new product developments, mergers and acquisitions, research and developments (R & D) in the market.
The primary reasons because of which people are prone to cardiovascular ailments that require CABG in order to be cured include anxiety, deskbound lifestyle, high consumption of junk food, and stress. Due to the rise in cardiovascular ailments, the market for coronary artery bypass grafting is also rising. Other factors responsible for the growth of this market include changing lifestyle, increase in patient’s awareness of this ailment, and surgeries & therapies related to CABG.
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The global coronary artery bypass graft market has been segmented on the basis of end users, procedures, types, and lastly, region. Based on end-users, this market has been segmented into cardiology clinics, hospitals, research institutes, and others. The procedure-based segmentation segments the market into CABG surgery, double CABG surgery, triple CABG surgery, quadruple CABG surgery, and others. By types, the market has been segmented into endoscopic vein harvesting, minimally invasive direct CABG, off-pump, on-pump and others.
The regional segmentation of the global coronary artery bypass graft market covers continent-based regional markets namely The Americas (North America & South America), Asia Pacific, Europe, and the Middle East & Africa (MEA). The Americas segment is the largest regional market. North America as a market is bigger than South America due to the availability of more advanced technology. Therefore, even without South America, North America alone holds the potential of emerging as the largest regional market. The strongest economy of this world is the United States of America (USA), which is located in North America. Many key players in this market are based in North America, especially in the USA.
Worldwide Coronary Artery Bypass Graft Market Key Players
Dextera Surgical Inc. (USA),
Edwards Lifesciences Corporation (USA),
Genesee BioMedical (USA),
Hancock Jaffe Laboratories, Inc. (USA),
MAQUET Holding B.V. & Co. KG. (UK),
Neograft Inc. (USA),
NOVADAQ Technologies Inc. (Canada),
Sorin Group (Italy),
Terumo Cardiovascular Systems Corporation (USA) and VasoPrep Surgical (USA).
In North America, the market is growing due to the availability of specialty care services in hospitals & tertiary care centers increasing demand for cardiovascular devices for the treatment of cardiovascular diseases, increasing demand for treatment options for cardiovascular diseases, and increasing prevalence of cardiovascular diseases in the market. In South America, the market is experiencing steady but positive growth due to growing emphasis on coronary artery bypass procedure, increasing demand for the better cardiovascular devices, increasing geriatric population with chronic diseases such as diabetes & obesity which increase the risk for heart disease, and increasing prevalence of cardiovascular diseases.
Latest Industry News
Hancock Jaffe Laboratories, Inc., a company specializing in medical devices that restore cardiac and vascular health, has signed a Sponsored Research Agreement with Texas Heart Institute for the development of HJLI’s CoreoGraft®, an off the shelf conduit intended to be used for coronary artery bypass surgery. 9 OCT 2018
Medical technology company Biotronik has successfully obtained the approval from the US Food and Drug Administration (FDA) for the use of its PK Papyrus Covered Stent in emergency acute coronary perforations treatment. PK Papyrus can be used for the treatment of native coronary arteries and coronary bypass grafts. 18 SEP 2018
Europe is the second largest regional market. Some factors that enhance the market growth in this region are same as North America. In Europe, many governments also fund the R & D related to medical science. The most important country-based markets in this region are France, Germany, Spain, Italy, and the United Kingdom (UK), followed by the rest of Europe. According to the report, Asia Pacific has been estimated to emerge as the fastest growing market during the forecast period. The significant country-specific markets in this region include China, India, Japan, and South Korea, followed by the rest of Asia Pacific. In the MEA region, the market is limited. Reasons for the limited market growth in this region are lack of awareness, lack of education, lack of technological development, political instability, and healthcare not considered a priority by majority governments in this region.
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