Coronary Artery Bypass Graft Market: Technological Innovations and Rising Cardiovascular Disease Prevalence Propel Market Growth

The coronary artery bypass graft market size has grown strongly in recent years. It will grow from $11.45 billion in 2023 to $12.5 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to aging population, healthcare infrastructure growth, rising cardiovascular diseases, awareness campaigns, insurance coverage.

The coronary artery bypass graft market size is expected to see strong growth in the next few years. It will grow to $17.37 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to ambulatory surgery centers (ascs) growth, digital health integration, telemedicine growth, remote patient monitoring devices, patient-centric approaches. Major trends in the forecast period include advancements in surgical techniques, collaborative research, robotics in surgery, biodegradable implants, ai for diagnostic purposes, virtual reality training for surgeons.

Market Overview -
A coronary artery bypass graft (CABG) is a surgical intervention to treat coronary artery disease. This procedure is conducted when the coronary arteries, responsible for delivering blood to the heart, become constricted or obstructed, potentially causing angina or a heart attack.

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Rising Cardiovascular Disease Prevalence Sparks Surge In Coronary Artery Bypass Graft Market
Increased prevalence of cardiovascular diseases is expected to drive the growth of the coronary artery bypass graft market going forward. Cardiovascular disease (CVD) broadly encompasses various heart and blood vessel ailments. A coronary artery bypass graft (CABG) is recommended to reduce the chances of having a heart attack by creating a new pathway for blood to flow around blocked or partially blocked arteries in the heart. For instance, in March 2023, according to the journal published by Oxford University Press, a UK-based university press of the University of Oxford, by 2045, the percentage of people affected with peripheral artery diseases would increase by 50%. Therefore, the increased prevalence of cardiovascular diseases is driving the growth of the coronary artery bypass graft market.

Competitive Landscape -
Major companies operating in the coronary artery bypass graft market report are MicroPort Scientific Corporation, CryoLife Inc., Johnson & Johnson Co, Abbott Laboratories, Medtronic plc, Stryker Corporation, Northwell Health, Boston Scientific Corporation, Penn Medicine, Geisinger Health System Co, Terumo Corporation, Edwards Lifesciences Corporation, Main Line Health Inc., Getinge AB, Teleflex Incorporated, W. L. Gore & Associates Inc., Guidant Group, LivaNova PLC, AtriCure Inc., Peter Surgical, Sorin Group, Cardiva Medical Inc., Genesee Biomedical Inc., Dextera Surgical Inc., Cardica Inc., Maquet Holding B.V. & Co.KG, Novadaq Technologies Inc., Karl Storz GmbH & Co. KG, Vitalitec International Medizintechnik GmbH, Hancock Jaffe Laboratories.

Strategic Collaborations Driving Innovation And Growth In The Coronary Artery Bypass Graft Market
Strategic collaboration is a key trend gaining popularity in the coronary artery bypass graft market. Major companies operating in the coronary artery bypass graft market are focused on a strategic collaboration to strengthen their position and gain a competitive advantage. For instance, in July 2022, Medtronic plc, a US-based medical device company, collaborated with CathWorks, an Israel-based medical equipment manufacturer. Under the agreement, Medtronic will invest a maximum of $75 million in the Israel-based company and engage in joint promotion of CathWorks' FFRangio System in the United States, Japan, and Europe. Furthermore, in September 2021, Etiometry, a US-based clinical decision-support software for critical care, collaborated with Terumo Cardiovascular, a US-based manufacturer of medical devices for cardiac and vascular surgery. Through the partnership, adult cardiac surgery patients will benefit from advanced clinical decision support during and throughout their post-surgical recovery. By combining Etiometry's platform with Terumo's cardiac surgical devices, a more comprehensive understanding of a patient's condition and enhanced perioperative management can be achieved.

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Key Segments -

The coronary artery bypass graft market covered in this report is segmented -

1) By Procedure: Single Coronary Artery Bypass Graft (CABG) Surgery, Double Coronary Artery Bypass Graft (CABG) Surgery, Triple Coronary Artery Bypass Graft (CABG) Surgery, Quadruple Coronary Artery Bypass Graft (CABG) Surgery, Other Procedures
2) By Method: Off-pump, On-pump
3) By End-Use: Hospitals, Cardiology Clinics, Research Institutes, Other End-Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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