According to the latest report from Reports and Data, the 2022 global Coronary Artery Bypass Graft (CABG) Market size reached USD 1.76 Billion, and it is anticipated to demonstrate a revenue Compound Annual Growth Rate (CAGR) of 4.6% throughout the forecast period.
CABG, short for Coronary Artery Bypass Graft, is a surgical procedure employed to restore the functionality of obstructed or narrowed heart arteries. This procedure involves creating an alternative route around the blocked or constricted artery using a healthy blood vessel sourced from another part of the body, thereby enhancing blood flow to the heart muscle. Patients with severe Coronary Artery Disease (CAD) who do not respond to medication or lifestyle adjustments are frequently recommended to undergo this surgical intervention.
The primary driver behind the increasing revenue in this market is the rising prevalence of cardiovascular diseases. According to data from the World Health Organization (WHO), cardiovascular diseases were accountable for 17.9 million deaths worldwide in 2019, ranking them as the leading cause of mortality across the globe. Additionally, the expanding elderly population is expected to contribute to revenue growth. The heightened susceptibility to cardiovascular diseases among the elderly population has led to a growing demand for CABG procedures.
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Furthermore, advancements in cardiac surgery techniques are poised to be a significant catalyst for revenue growth in this market. Continuous improvements in surgical methodologies and medical equipment are making CABG surgeries more efficient and less invasive. For instance, the adoption of robotic-assisted surgical equipment is on the rise due to their ability to facilitate more precise and minimally invasive surgical procedures.
Key players in the Coronary Artery Bypass Graft (CABG) Market:
- Abbott Laboratories
- Medtronic
- Boston Scientific Corporation
- LivaNova PLC
- Edwards Lifesciences Corporation
- Maquet Holding B.V. & Co. KG (Getinge Group)
- Terumo Corporation
- Cardinal Health, Inc.
- Cardiac Science Corporation
- Sorin Group
Some Key Highlights in the Report:
- During the forecasted period, it is anticipated that the on-pump segment will generate the highest income. The market’s revenue growth is expected to be propelled by several factors, including the increasing adoption of on-pump CABG treatments in emerging economies, a rising incidence of CAD, and technological advancements in the healthcare sector. The segment’s revenue surge is primarily driven by its effectiveness in addressing complex coronary artery diseases. Technological progress, such as the utilization of robotic-assisted surgery for CABG treatments, which enhances precision and control during procedures, is also poised to contribute to revenue growth in the market.
- In the projected period, it is expected that the hospital segment will lead in revenue generation. Advances in healthcare infrastructure, a greater number of hospital admissions for CABG treatments, and an increasing prevalence of CAD are all anticipated to bolster revenue growth in this segment. The segment’s revenue expansion is expected to be fueled by its capacity to offer comprehensive medical services and state-of-the-art surgical facilities. Furthermore, hospitals offer a wide array of diagnostic and treatment options for individuals with complex coronary artery issues, which is projected to drive revenue growth in this category.
- In the year 2022, the North American market dominated in terms of revenue share. The growth in revenue in this market is attributed to several factors, including the rising incidence of CAD in the region, the rapid expansion of the healthcare system, and the availability of advanced medical facilities. Additionally, the region has a higher predisposition to CAD due to a substantial number of individuals who are obese or have high cholesterol levels, resulting in increased demand for CABG surgery. Furthermore, favorable reimbursement schemes in North America are incentivizing more individuals to undergo CABG surgery, thereby further contributing to revenue growth in the region.
- The Asia Pacific market is anticipated to experience the swiftest revenue growth during the projected period. This can be attributed to the increasing prevalence of coronary artery disease (CAD) in the region and the growing popularity of coronary artery bypass grafting (CABG) surgery. Countries like China and India, with their large populations, exhibit a high CAD incidence, leading to a substantial demand for treatment. Additionally, the rising elderly population in the region, who are more susceptible to CAD, is expected to drive demand for CABG procedures.
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For the purpose of this report, Reports and Data has segmented the global Coronary Artery Bypass Graft (CABG) market on the basis of Procedure Type Outlook, End-use Outlook, and Regional Outlook:
Procedure Type Outlook (Revenue, USD Billion; 2022 – 2032)
- Off-pump
- On-pump
- Minimally Invasive
End-use Outlook (Revenue, USD Billion; 2022 – 2032)
- Hospitals
- Ambulatory Surgical Centers
- Cardiac 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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