Global Coronary Artery Bypass Graft Devices Market – Industry Trends and Forecast to 2029

Coronary Artery Bypass Graft Devices Market Analysis and Size

Coronary artery bypass graft surgery (CABG) is a procedure used to treat coronary artery disease. Coronary artery disease (CAD) is the narrowing of the coronary arteries, which are the blood vessels that supply oxygen and nutrients to the heart muscle. A buildup of fatty material within the artery walls causes CAD.

Data Bridge Market Research analyses that the coronary artery bypass graft devices market which was USD 13670. 50 million in 2021, would rocket up to USD 21299.45 million by 2029, and is expected to undergo a CAGR of 5.70% during the forecast period 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Coronary Artery Bypass Graft Devices Market Scope and Segmentation      

Market Definition

CABG is a common treatment approach for coronary heart disease, which is one of the leading causes of death worldwide. Coronary artery disease occurs when the flow of oxygen-rich blood to the heart muscle is restricted due to the formation of blocking matter in the coronary artery wall, resulting in a heart attack or chest pain (angina).

Global Coronary Artery Bypass Graft Devices Market Dynamics

Drivers

• Growing number of geriatric population

As the population ages, more elderly patients are being referred for coronary artery bypass grafting (CABG) for cardiovascular diseases. Octogenarians, as the fastest growing demographic and with the highest prevalence of coronary artery disease, are increasingly being referred to cardiothoracic surgeons for surgical revascularization. Similarly, in Germany, from 1989 to 2000, the proportion of patients aged 70 who underwent cardiac surgery increased from 11.2 to 36.7%. One of the concerns about operating on elderly patients is the fear of poor surgical outcomes. There is concern that patients in their advanced years will not recover as well or will have fragile tissue. These all are the certain factors which will propel the growth of the market.

• Surging volume of patients suffering from cardiovascular diseases

CVDs, which can be caused by poor lifestyle, stress or eating fast food are among the leading causes of death worldwide. According to the World Health Organization, cardiovascular diseases are the leading cause of death. Cardiovascular disease was responsible for 31.0% of all deaths worldwide (CVD). In 2012, they were responsible for approximately 17.5 million deaths. Around 6.4 million people died from strokes, and 7.4 million of the 17.5 million deaths could be attributed to heart disease. The death toll is expected to be around 23.6 million by 2032. These are the certain factors of CVDs which propel the growth of the market.

• Usage of robotic surgery

Robotic technology has recently been used in minimally invasive surgery as part of an evolutionary process. The robotic surgical system can help cardiac surgeons perform coronary artery bypass grafts in a less invasive and dexterous manner. Robotic internal thoracic artery harvesting, robotic assistant coronary artery bypass graft, and totally robotic coronary artery bypass graft are the most common robotic minimally invasive coronary artery bypass graft procedures and this will propel the growth of the market.

Opportunities

• Rising incidence of cardiovascular diseases

The rising global prevalence of cardiovascular diseases is the primary growth driver for the coronary artery bypass graft devices market. Furthermore, the growing number of endoscopic surgeries worldwide is expected to drive demand for coronary artery bypass graft devices in the coming years. Existing coronary artery bypass graft device advancements may also propel the overall market.

Restraints/Challenges

• Lack of reimbursement policies

Lack of reimbursement policies and payment models will obstruct the market growth.

This coronary artery bypass graft devices market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the coronary artery bypass graft devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on the Coronary Artery Bypass Graft Devices Market

The COVID-19 pandemic had a significant impact on the global economy, as well as business operations. The high infection rates and negative impact on public health systems, several countries were forced to implement nationwide lockdowns, which had a significant impact on industrial supply chains, trade, and related services. COVID-19 also caused a drop in the market for global coronary artery bypass graft devices. Furthermore, limited clinic access, combined with social distancing norms and complete lockdown declared by several countries, resulted in a slowdown in patient flow and referral, affecting market growth. Cancer screenings dropped dramatically during the COVID-19 epidemic. Repeat cervical cancer screenings decreased by 68% in the first 15 weeks of 2020 in the United States, while breast cancer screenings increased.

Global Coronary Artery Bypass Graft Devices Market Scope

The coronary artery bypass graft devices market is segmented on the basis of surgery type, device type, type, procedure and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Surgery Type

• Off-Pump
• On-Pump
• Minimally Invasive Direct CABG
• Others

 Device Type

• Tissue Stabilizer
• Heart Positioner
• Refractor
• Cardiopulmonary Bypass Machines
• Endoscopic Vessel Harvesting System
• Others

Type

• Saphenous Vein Grafts
• Internal Thoracic Artery Grafts
• Radial Artery
• Gastroepiploic Artery
• Other Arterial Grafts

 Procedure

• Single CABG Surgery
• Double CABG Surgery
• Triple CABG Surgery
• Quadruple CABG Surgery
• Others

End User

• Hospitals
• Cardiology Clinics
• Research Institutes
• Others

Coronary Artery Bypass Graft Devices Market Regional Analysis/Insights

The coronary artery bypass graft devices market is analysed and market size insights and trends are provided by country, surgery type, device type, type, procedure and end user as referenced above.

The countries covered in the coronary artery bypass graft devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the coronary artery bypass graft devices market due to the presence of high-quality healthcare infrastructure facilities in countries such as the U.S and Canada, contributing to the growth of the market in the region.

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to increasing prevalence of hypertension, rising elderly population, obesity and diabetes which further leads to coronary artery disorders.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Coronary Artery Bypass Graft Devices Market Share Analysis

The coronary artery bypass graft devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to coronary artery bypass graft devices market.

Some of the major players operating in the coronary artery bypass graft devices market are:

• Terumo Cardiovascular Systems Corporation (U.S.)
• Genesee BioMedical (U.S.)
• Edwards Lifesciences Corporation. (U.S.)
• Boston Scientific Corporation (U.S.)
• Medtronic (Ireland)
• AtriCure, Inc. (U.S.)
• Transonic. (U.S.)
• KARL STORZ (Germany)
• Cigna. (U.S.)
• Teleflex Incorporated. (U.S.)
• Saphena Medical, Inc. (U.S.)

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