Coronary Artery Bypass Grafts Device Market By Technology (Off pump CABG, On pump CABG, Minimally invasive CABG), By Product (Cardiopulmonary Bypass Machines, Endoscopic Vessel Harvesting Systems, Heart Positioners, Tissue Stabilizer, Others), By End Users (Hospitals, Cardiac Centers, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
The coronary artery bypass grafts device market was valued at $959.27 million in 2022 and is estimated to reach $1,382.30 million by 2032, exhibiting a CAGR of 3.7% from 2023 to 2032. The global coronary artery bypass grafts device market was valued at $0.96 billion in 2022, and is projected to reach $1.38 billion by 2032, growing at a CAGR of 3.7% from 2023 to 2032.
Coronary artery bypass graft (CABG) device plays an important role in the surgical treatment of coronary artery disease. Coronary artery disease is a condition where the blood vessels supplying blood to the heart muscles become narrowed or blocked due to the buildup of plaque. Coronary artery bypass graft is a surgical procedure which is carried out to restore adequate blood flow to the heart muscles by bypassing the blocked or narrowed coronary arteries with healthy blood vessels. In general, on-pump and off-pump are the two types of CABG surgical procedures with the difference being the use of a cardiopulmonary bypass circuit and an arrested heart to operate during an on-pump coronary artery bypass graft. On the other hand, during off-pump coronary artery bypass graft, the surgeons operates on the beating heat.
The key factors driving the growth of the coronary artery bypass graft devices market are rise in geriatric population as they have the risk of developing coronary heart disease (CHD) and related conditions such as atherosclerosis increases significantly with age. Furthermore, surge in prevalence of coronary heart diseases owing to lifestyle changes, sedentary habits, unhealthy diets, and increase in stress levels is also expected to drive the growth of the market. As people age, their risk of developing coronary artery disease (CAD) and related cardiac issues significantly increases. Coronary artery disease is a prevalent condition worldwide, characterized by the accumulation of plaque in the coronary arteries, leading to reduced blood flow to the heart muscle. For instance, according to a 2023 report by American Heart Association, it was estimated that the average age at the first heart attack was 65.6 years for males and 72.0 years for females.
Coronary artery bypass grafting is a crucial surgical intervention used to treat severe coronary artery disease. It involves the creation of alternative blood pathways by grafting healthy blood vessels from other parts of the body to bypass the blocked or narrowed coronary arteries, thereby restoring proper blood flow to the heart. As the geriatric population is more prone to coronary artery disease and related cardiovascular problems, the demand for coronary artery bypass graft procedures and associated devices has surged. Furthermore, the elderly often have multiple comorbidities, making them ideal candidates for coronary artery bypass graft surgeries as compared to more invasive or complex procedures. In conclusion, the escalating geriatric population, with its higher susceptibility to coronary artery disease, has become a pivotal driver for the growth of the coronary artery bypass graft devices market.
In addition, surge in prevalence of coronary heart disease is expected to act as a significant driver for the coronary artery bypass graft devices market. The bypass restores the blood flow to the ischemic myocardium which, in turn, restores function, viability, and relieves anginal symptoms. The global burden of coronary heart disease has been on the rise, primarily attributed to lifestyle factors such as sedentary lifestyles, unhealthy diets, and increasing rates of obesity. For instance, according to a 2023 report by U.S. National library of medicine, it was estimated that globally almost 400,000 coronary artery bypass grafting surgeries are performed each year making it the most commonly performed major surgical procedure. Thus, the surge in the prevalence of coronary heart disease is expected to drive the growth of the coronary artery bypass graft devices market.
However, high cost of procedures might act as restraint for the coronary artery bypass graft devices market. The high cost of coronary artery bypass graft surgery makes it less accessible to individuals without adequate health insurance coverage. The cost of devices, hospital stays, and post-operative care be a significant financial burden for patients.
The coronary artery bypass graft devices market is segmented on the basis of technology, product, end user, and region. By technology, the market is categorized into off-pump, on-pump, and minimally invasive CABG. By product, the market is classified into cardiopulmonary bypass machines, endoscopic vessel harvesting systems, heart positioners, tissue stabilizer and others. By end user, the market is divided into hospitals, cardiac centers, and others. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major key players that operate in the global coronary artery bypass graft devices market are Medtronic, Baxter International Inc, Terumo Corporation, Teleflex Incorporated, Peters Surgical Group, Getinge AB, Genesee Biomedical Inc, Transonic Systems Inc., Saphena Medical, Inc. and Condor MedTec GmbH.
Key Benefits for StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the coronary artery bypass grafts device market analysis from 2022 to 2032 to identify the prevailing coronary artery bypass grafts device market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the coronary artery bypass grafts device market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global coronary artery bypass grafts device market trends, key players, market segments, application areas, and market growth strategies.
Technology Trend Analysis
Patient/epidemiology data at country, region, global level
Additional company profiles with specific to client's interest
Additional country or region analysis- market size and forecast
Expanded list for Company Profiles
Historic market data
SWOT Analysis
Key Market SegmentsBy End UsersHospitals
Cardiac Centers
Others
By TechnologyOff pump CABG
On pump CABG
Minimally invasive CABG
By ProductEndoscopic Vessel Harvesting Systems
Heart Positioners
Tissue Stabilizer
Others
Cardiopulmonary Bypass Machines
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East And Africa
Key Market PlayersTerumo Corporation
Peters Surgical Group
Genesee Biomedical Inc
Transonic Systems Inc.
Condor MedTec GmbH
Baxter International Inc.
Getinge AB
Saphena Medical, Inc.
Medtronic
Livanova, Plc
Please Note: It will take 7-10 business days to complete the report upon order confirmation.