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Coronary Artery Bypass Grafts Market : Analysis and Forecast by 2024

10-13-2017 04:42 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Transparency Market Research

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Coronary Artery Bypass Grafts Market : Analysis and Forecast

Coronary artery bypass graft is a type of surgery used to treat coronary heart diseases. This surgery improves blood flow and oxygen supply to the heart. According to the National Health Service (England), every year in the U.K., about 20,000 coronary artery bypass grafts are carried out. About 80% of the surgery is used to treat people aged 60 years and above. This surgery is carried out under general anesthetic. The coronary artery bypass graft is performed depending on the severity of the coronary heart disease and the narrowing of coronary blood vessels. Traditional bypass surgery involves a process where the function of the heart is taken over by a heart-lung bypass machine, the patient's breastbone is split, and the chest is cut open. In minimally invasive direct coronary artery bypass grafting, only a single three-inch incision is performed over the patient's left chest between the ribs, with no incision over the breastbone. Off-pump coronary artery bypass grafting, a form of coronary artery bypass graft, is commonly known as beating heart bypass graft because it involves the opening of the chest bone but the heart beat is not stopped. According to the Texas Heart Institute, more than 200,000 procedures are performed in the U.S every year.

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Factors such as growth in number of geriatric population, increase in prevalence of cardiovascular disorder, and change in lifestyle are projected to drive the global coronary artery bypass grafts market during the forecast period. According to the WHO, 17.5 million people die each year due to cardiovascular disease, which is equal to 31% of all estimated deaths worldwide. Technological advancement is another fueling factor, which is likely to add value to the global market. On the other hand, stringent government guidelines are estimated to hinder the market growth.

The global coronary artery bypass grafts market has been segmented by procedure type, product type, end-user, and geography. In terms of procedure type, the market is classified into traditional coronary artery bypass grafting, off-pump coronary artery bypass grafting, and minimally invasive direct coronary artery bypass grafting. The traditional coronary artery bypass grafting is performed when a major artery needs to be bypassed. In terms of product type, the market is classified into saphenous vein graft, left internal thoracic artery graft, and other arterial grafts such as radial artery, ulnar artery, gastroepiploic artery, and inferior epigastric artery. In terms of end-user, the market is classified into hospitals, specialty clinics, and ambulatory centers.

In terms of geography, the coronary artery bypass grafts market is classified into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Geographically, North America dominates the market due to product availability, technological advancement, presence of top players, and growth in number of geriatric population, which in turn is expected to drive the market during the forecast period. The geriatric population represents about 14.5% of the U.S. population. According to U.S. Department of Health and Human Services, by 2060, the number is projected to grow to 98 million which is twice of the 2014 geriatric population in the U.S. Europe is the second leading market due to increasing number of coronary heart diseases among the population. The Asia Pacific market is expected to grow at a higher rate in the near future due to presence of high target patient pool, growth in adoption of western lifestyle, increase in government initiatives, and rise in awareness among people.

The major global players operating in this market include Boston Scientific Corporation, Medtronic Inc., B. Braun Melsungen AG, C.R. Bard, Cordis Corporation, St. Jude Medical, Inc., Terumo Corporation, Sorin Group, and Ethicon US.

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The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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