Coronary Artery Bypass Grafting Market Overview:
Coronary Artery Bypass Grafting Market is projected to achieve a value of USD 12,753 Million in 2023, with a linear behavior in the market growth it is forecasted to achieve a value of USD 18,234 Million by 2033 with a CAGR of 6.1% during the forecast period 2024-2033.
A coronary artery bypass graft, often known as CABG, is a surgical operation that is used to treat coronary artery disease (CAD). CAD is a condition in which the blood arteries that supply the heart with oxygen-rich blood become blocked or restricted. The market for coronary artery bypass grafts (CABG) has a substantial influence on the healthcare sector as well as the economy as a whole. The CABG business is benefiting significantly from the rapid development of relevant technologies. The expansion of the industry has been helped along by developments in fields like as minimally invasive treatments, robotic-assisted surgeries, and imaging technologies.
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Coronary Artery Bypass Graft Market: Growth Drivers:
Coronary Artery Disease (CAD) prevalence: Coronary artery disease, defined by the accumulation of plaque in the coronary arteries, continues to be a major public health concern around the world.
Healthcare Infrastructure: Advancements in healthcare infrastructure, particularly in developing countries, have made advanced cardiac procedures such as CABG more accessible to a larger population. This is especially true when procedures are performed on people with cardiac problems. The expanded availability of healthcare facilities and services has contributed to the market’s growth.
The aging population has increased the demand for cardiovascular procedures like CABG, which address heart health issues.
Technological advancements: Surgical techniques, medical equipment, and anaesthetic have all improved as a result of technological advances. CABG operations are becoming safer and more successful as surgical techniques, medical equipment, and anaesthetics advance.
Insurance Coverage: Patients now have more financial options for paying for their treatment thanks to advancements in insurance coverage for cardiac procedures such as CABG.
Coronary Artery Bypass Grafting Market Scope
This analysis contains historical, current, and forecasted data and estimations for the Coronary Artery Bypass Graft Devices Market. The report’s market estimates are based on extensive research. The research process incorporates a variety of research channels, including original research, secondary research, and subject-related expert opinion. The market estimates are based on current market dynamics as well as key economic, social, and political factors influencing the Coronary Artery Bypass Graft Devices Market. Market data is also influenced by various laws, government investment, and increased R&D. Market predictions include for both positive and negative market events.
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Market Segmentations:
Market, By Procedure:
- Single CABG Surgery
- Double CABG Surgery
- Triple CABG Surgery
- Quadruple CABG Surgery
- Others
Market, By Surgery Type:
- Off-Pump
- On-Pump
- Minimally Invasive Direct CABG
- Others
Market, By End-User:
- Hospitals
- Cardiology Clinics
- Research Institutes
- Others
Market Regional Analysis:
North America dominate the Coronary Artery Bypass Grafting market with the highest revenue generating market with share of more than 44%. Well established healthcare facility, availability of services and products, high expenditure on R&D are the key driving factor of the region.
Europe is expected to expand the higher growth with highest CAGR in forecasted year. The factors behind that are The rising investments in the healthcare sector, heightened awareness concerning cardiovascular diseases, and the expansion of cardiac testing facilities post-COVID-19 are noteworthy factors.
Asia-Pacific, is the fastest growing Coronary Artery Bypass Grafting market in forecasting year. The increasing occurrence of acute coronary syndrome and myocardial infarction is driving the growing need for enhanced diagnostic capabilities, grip by government funding for research on specific diseases and increased healthcare expenditure.
Latin America and Middle East & Africa are expected to grow at a moderate level within the coronary artery bypass grafting market because of slower adoption of technologically advanced solutions and lack of awareness among the population towards tests for Coronary Artery Bypass Grafting.
Key Market Players in the Coronary Artery Bypass Graft Market:
- Dexter Surgical Inc.
- NOVADAQ Technologies Inc.
- Vesper Surgical
- Terumo Cardiovascular Systems Corporation
- Engraft Inc.
- MAQUET Holding B.V. & Co. KG
- Hancock Jaffe Laboratories, Inc.
- Genesee Biomedical
- Boston Scientific
- Edwards Lifesciences Corporation
- Soren Group
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