-- The global market size of Coronary Artery Bypass Graft (CABG) was USD 1.76 billion in 2022 and is expected to grow to USD 2.64 billion by 2032, with a projected revenue CAGR of 4.6% during the forecast period. The primary factors driving the growth of the market include the rising prevalence of cardiovascular diseases, the increasing elderly population, and the advancement of technologically advanced cardiac surgery procedures.
Coronary Artery Bypass Graft (CABG) is a surgical treatment used to repair blocked or narrowed cardiac arteries. This procedure involves creating a detour around the blocked artery using a healthy blood vessel from another part of the body, which results in improved blood flow to the heart muscle. Patients with significant Coronary Artery Disease (CAD) that cannot be managed with medication or lifestyle changes are often advised to undergo this procedure.
The market's revenue growth is majorly driven by the increasing prevalence of cardiovascular diseases. According to the World Health Organization (WHO), cardiovascular diseases were the leading cause of death worldwide in 2019, with 17.9 million deaths attributed to them. The rising elderly population is also expected to drive the market's revenue growth, as this age group is at a higher risk of developing cardiovascular diseases and requires CABG procedures.
Technological advancements in heart surgery techniques are expected to drive the market's revenue growth. The development of surgical methods and medical equipment is improving the efficiency and minimally invasive nature of CABG surgeries. The use of robotic-assisted surgical devices, for example, has increased because they allow for more accurate and less invasive procedures.
The demand for minimally invasive procedures is also driving the market's revenue growth. Patients increasingly prefer minimally invasive CABG procedures due to their shorter recovery periods and fewer incisions. Additionally, the use of hybrid treatments, which combine CABG surgery with Percutaneous Coronary Intervention (PCI), is expected to drive the market's revenue growth.
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Coronary Artery Bypass Graft (CABG) Market Segments:
The global Coronary Artery Bypass Graft (CABG) market can be analyzed based on procedure type, end-use, and regional outlook.
In terms of procedure type, the market can be segmented into off-pump, on-pump, and minimally invasive procedures. The revenue generated from off-pump procedures, on-pump procedures, and minimally invasive procedures in 2019 was USD Billion, and this is expected to increase significantly by 2032.
Based on end-use, the market can be categorized into hospitals, ambulatory surgical centers, and cardiac centers. These end-users contributed to the revenue generated in the CABG market in 2019, with the trend expected to continue during the forecast period.
The regional outlook of the market can be segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In North America, the United States, Canada, and Mexico are expected to contribute to the growth of the market. In Europe, Germany, the United Kingdom, France, Italy, Spain, Sweden, BENELUX, and the rest of Europe are the major countries driving market growth. In Asia-Pacific, China, India, Japan, South Korea, and the rest of the region are expected to contribute to the market growth. In Latin America, Brazil and the rest of LATAM are the major countries driving market growth. Lastly, in the Middle East & Africa, Saudi Arabia, the UAE, South Africa, Israel, and the rest of MEA are expected to contribute to the growth of the market.
Overall, the Coronary Artery Bypass Graft (CABG) market is expected to see significant growth during the forecast period, with the revenue generated from different procedure types, end-users, and regions contributing to the market's overall growth.
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Coronary Artery Bypass Graft (CABG) Market: Strategic Developments
In August 2015, Edwards Lifesciences Corporation completed its acquisition of CardiAQ Valve Technologies, which is focused on developing novel transcatheter mitral valve replacement therapies. The acquisition is expected to expand Edwards Lifesciences Corporation's product offerings in the cardiovascular space, particularly in the area of transcatheter mitral valve replacement. This acquisition is a strategic move for Edwards Lifesciences Corporation, as it is expected to enhance the company's leadership position in the field of heart valve therapies.
On September 3, 2021, Abbott Laboratories announced that it had acquired Walk Vascular, LLC, a medical device company that develops minimally invasive systems for the treatment of peripheral arterial disease. This acquisition is aimed at expanding Abbott's product offerings in the vascular space, which is a high-growth area in the medical device industry. Abbott Laboratories has a strong presence in the cardiovascular market, and the acquisition of Walk Vascular is expected to further strengthen its position in this space.
In July 2020, LivaNova PLC announced the launch of its Perceval Plus sutureless aortic heart valve. This valve is designed to simplify surgical procedures and reduce the time needed for CABG surgeries. The Perceval Plus valve is a significant advancement in the field of heart valve therapies, as it eliminates the need for sutures during surgery. This reduces the risk of complications and shortens the recovery time for patients. The launch of this valve is a strategic move for LivaNova PLC, as it is expected to enhance the company's position in the competitive heart valve market.
Coronary Artery Bypass Graft (CABG) Market: Competitive Landscape
These are some major players in the medical device industry: Abbott Laboratories, Medtronic, Boston Scientific, LivaNova PLC, Edwards Lifesciences, Maquet Holding B.V., Terumo Corporation, Cardinal Health, Cardiac Science Corporation, and Sorin Group.
Read more about: "Global Coronary Artery Bypass Graft (CABG) Procedures Market to Reach USD 12.3 Billion by 2032, Driven by Rising Prevalence of CVDs and Elderly Population, Reports Projected CAGR of 6.1%"
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