Coronary Artery Bypass Grafts Market Size, Trends & Forecast Overview To 2027
Coronary artery bypass graft surgery is primarily used to enhance the flow of the blood by removing the blockages of the artery and blood vessels. It can also be used for the treatment of the artery disease. In coronary diseases there is narrowing of the coronary arteries which are built by fatty materials. In this method a healthy artery is grafted to block the coronary artery that facilitates the flow of the blood to heart muscles.
The global coronary artery bypass grafts market is anticipated to expand at a CAGR around 5.9% during 2018-2027. It is projected to reach around USD 0.18 billion market size by 2027. The increasing adoption of the endoscopic surgeries coupled with the increasing incidence of the cardiovascular diseases is anticipated to be the primary reason for the growth of the global coronary artery bypass grafts market during the forecast period. For instance, according to WHO 17.9 million of population is suffering from death every year which constituted nearly 31% of the total deaths. Additionally, more than 75% of the cases are found in the low and middle income of the population.
The global coronary artery bypass grafts market can be segmented on the basis of technology, procedure, end-user and region. On the basis of technology, it is sub-segmented into Off-pump CABG, On-pump CABG and Others. The on-pump CABG is anticipated to lead the global coronary artery bypass grafts market during the forecast period. The increasing use of different machines such as the oxygenators, heart-lung machines, and stabilizers is anticipated to support the growth of the global coronary artery bypass grafts market during the forecast period. On the basis of procedure, it is sub-segmented into single CABG surgery, double CABG surgery, triple CABG surgery, quadruple CABG surgery and others. Triple CABG surgery is anticipated to lead the procedure segment during the forecast period. The increasing prevalence of the cardio-vascular diseases such as myocardial infarction and coronary heart disease is anticipated be the key factor for the growth of the sub-segment during the forecast period. On the basis of end-users, it is sub-segmented into hospitals, cardiology clinics, and research institutes and other. Hospitals is anticipated to be the largest sub-segment for the end-users segment. The presence of large numbers of the patients suffering from chronic diseases coupled with the presence of the advance machinery equipment is expected to propel the market growth of the sub-segment during the forecast period.
By region, global coronary artery bypass grafts market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. North America is anticipated to hold the largest market share for the global coronary artery bypass grafts market during the forecast period. The large availability of the minimally invasive techniques for the treatment of the cardio-vascular diseases is driving the global coronary artery bypass grafts market during the forecast period. Asia-Pacific region is anticipated to be the fastest developing region for the global coronary artery bypass grafts market. The increasing population in the region coupled with growing awareness about heart related surgeries is driving the market growth of the global coronary artery bypass grafts market in the region. The increasing government initiative related to the healthcare is also a key factor for the growth of the global coronary artery bypass grafts market.
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Market Segmentation
Our in-depth analysis segmented the global coronary artery bypass grafts market in the following segments:
By Technology:
- Off-pump CABG
- On-pump CABG
- Others
By Procedure:
- Single CABG surgery
- Double CABG surgery
- Triple CABG surgery
- Quadruple CABG surgery
- Others
By End-Users
- Hospitals
- Cardiology clinics
- Research institutes
- Other
By Region
Global coronary artery bypass grafts market is further classified on the basis of region as follows:
- North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Growth Drivers and Challenges
The increasing geriatric population across the globe is anticipated to incur heart related disease easily. This is anticipated to be a major growth driver for the global coronary artery bypass grafts market. According to the American Heart Association, it is estimated that global geriatric population is estimated to be account 20% of the total population. The geriatric population is expected to incur heart related diseases which in turn is anticipated to boost the growth of the global coronary artery bypass grafts market during the forecast period. The increasing use of the endoscopic vessel harvesting devices is also anticipated to fuel the market growth of the global coronary artery bypass grafts market during the forecast period. Additionally, the different lifestyle problems associated with fast food consumption is increasing heart related diseases which in turn is anticipated to be the growth driver for the global coronary artery bypass grafts market.
However, high cost associated with the treatment of the cardiovascular diseases coupled with the poor healthcare infrastructure is expected to restrain the growth of the global coronary artery bypass grafts market during the forecast period.
Top Featured Companies Dominating The Market
- Medtronic
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Hancock Jaffe Laboratories, Inc.
- Dextera Surgical Inc.
- Terumo Cardiovascular Systems Corporation
- VasoPrep Surgical
- NOVADAQ Technologies Inc.,
- Neograft Inc.
- Genesee BioMedical
- MAQUET Holding B.V. & Co. KG.
- Edwards Lifesciences Corporation
- Sorin Group
