The latest report from Reports and Data reveals that in 2022, the global Coronary Artery Bypass Graft (CABG) Procedures Market reached USD 7.2 billion. It is anticipated that this market will experience a 6.1% compound annual growth rate (CAGR) in revenue over the forecasted period.
Coronary artery disease (CAD), a prevalent form of cardiovascular ailment, arises from the accumulation of plaque within the arteries that carry blood to the heart. While CABG procedures are highly effective treatments for CAD, the incidence of CAD is expected to rise. Furthermore, since the risk of developing CAD and other cardiovascular conditions increases with age, the expanding elderly population is anticipated to contribute to market expansion.
In addition, there is a growing demand for less invasive surgical techniques, which is poised to stimulate global revenue growth. Minimally invasive CABG surgeries, as opposed to traditional open-heart surgery, involve fewer incisions, resulting in reduced discomfort, shorter hospital stays, and faster recovery times for patients. Consequently, both patients and healthcare professionals are increasingly favoring these procedures.
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Furthermore, advancements in surgical procedures and equipment are driving market revenue growth. For example, the emergence of robotic-assisted CABG procedures is expected to revolutionize the market by enhancing patient outcomes and providing greater precision and control during surgery.
Key players in the Coronary Artery Bypass Graft (CABG) Procedures Market:
- Abbott Laboratories
- Boston Scientific Corporation
- Edwards Lifesciences Corporation
- HeartWare International, Inc.
- MAQUET Holding B.V. & Co. KG
- Medtronic plc
- Sorin Group
- St. Jude Medical, Inc.
- Swissray Global Healthcare Holding, Ltd.
- Teleflex Incorporated
Some Key Highlights in the Report:
- In 2022, the predominant source of revenue was derived from the traditional CABG segment, which constituted the majority of the earnings. This segment involves a surgical procedure where a blood vessel from the patient’s leg, arm, or chest is employed to circumvent blockages in one or more coronary arteries. This procedure has gained widespread acceptance due to its effectiveness in treating coronary artery disease, particularly in patients with severe blockages. Moreover, typical CABG surgery is well-established in the medical field, having been practiced for an extended period.
- The hospital segment captured the largest portion of revenue in 2022. This can be primarily attributed to the substantial volume of surgical procedures conducted within hospital settings. Hospitals are the preferred choice for patients in need of surgical treatments due to their extensive array of specialized surgical departments, access to advanced medical technologies, and highly skilled healthcare professionals. Furthermore, the increasing elderly population and the growing prevalence of chronic ailments such as cancer, cardiovascular disease, and neurological disorders have generated significant demand for surgical interventions within hospital environments.
- In 2022, the North American market led in terms of revenue share. The primary drivers of CABG operations in this region were the elevated rates of cardiovascular diseases and the aging population. Additionally, regional technological advancements and the increasing adoption of minimally invasive procedures are expected to propel revenue growth in the market.
- Asia Pacific is anticipated to exhibit the highest revenue compound annual growth rate (CAGR) throughout the projection period due to rising disposable income and an increasing demand for improved healthcare facilities. The escalating incidence of cardiovascular diseases in emerging nations like China and India has fueled the demand for CABG procedures. Other factors contributing to revenue growth in this region include the availability of cost-effective CABG procedures and rapid developments in healthcare infrastructure.
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For the purpose of this report, Reports and Data has segmented the global Coronary Artery Bypass Graft (CABG) procedures market on the basis of Product Type Outlook, End-use Outlook, and Regional Outlook:
Product Type Outlook (Revenue, USD Billion; 2022 – 2032)
- Traditional CAGB
- Off-pump CAGB
- Minimally Invasive CAGB
End-use Outlook (Revenue, USD Billion; 2022 – 2032)
- Hospitals
- Ambulatory Surgical Centers
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Regional Outlook (Revenue, USD Billion; 2022-2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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Some points on how the report benefits stakeholders:
- The reports include historical (2020–2021) and forecast (2022–2032) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2019 and 2030.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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