by Coronary artery bypass grafting (CABG) is a surgical procedure used to treat coronary artery disease by restoring normal blood flow to the heart. During the procedure, surgeons use sections of the patient’s veins or arteries to bypass narrow or blocked sections of the coronary arteries to improve blood flow and oxygen to the heart. CABG is considered the gold standard treatment for multivessel coronary artery disease and left main coronary artery stenosis. Rise in the prevalence of cardiovascular diseases worldwide and growing elderly population base are the major factors driving an increasing number of CABG procedures globally.
The Global Coronary Artery Bypass Grafting Market is estimated to be valued at US$ 14.02 Bn in 2024 and is expected to exhibit a CAGR of 9.5% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the Coronary Artery Bypass Grafting are Abbott Laboratories, Medtronic, Boston Scientific Corporation, LivaNova PLC, Edwards Lifesciences Corporation, Maquet Holding B.V. & Co. KG, TERUMO CORPORATION, Guidant, Vitalitec, Novadaq, KARL STORZ, Ethicon US, LLC (Johnson & Johnson), NeoGraft Technologies, Inc., Genesee Biomedical Inc., Hancock Jaffe Laboratories, Inc., VasoPrep Surgical, Dextera Surgical Inc., and Neograft Inc.
Rising geriatric population base requiring cardiac surgeries and advancement in surgical techniques represent Coronary Artery Bypass Grafting Market Demand. The market is also witnessing increasing adoption of minimally invasive surgical methods and innovative graft materials.
Increasing healthcare expenditure in developing nations and growing medical tourism for cardiac treatments in countries such as India and Thailand is expected to drive the global expansion of the Coronary Artery Bypass Grafting Market during the forecast period.
Market Drivers:
The primary growth driver for the CABG market is the rising prevalence of coronary artery disease worldwide owing to increasing risk factors such as obesity, diabetes, high cholesterol, hypertension, and smoking. Rapid urbanization and lifestyle changes have significantly contributed to the rising incidence of cardiovascular conditions globally.
PEST Analysis
Political: Regulations regarding medical procedures and hospitals have a significant impact on the market. Governments provide reimbursement incentives which influence adoption rates.
Economic: The Coronary Artery Bypass Grafting Market Size And Trends initially but as elective surgeries resumed the demand is increasing. Rise in disposable incomes boosts healthcare spending.
Social: Growing cardiovascular disease prevalence drives the need for treatment options. Increased health awareness and life expectancy favor the market.
Technological: Advancements in graft materials, minimally invasive techniques and monitoring solutions are enhancing outcomes. Robot assistance during surgeries is gaining popularity.
The market in terms of value is concentrated majorly in North America and Europe. Technological superiority, supportive insurance policies and high incidence of cardiovascular disorders fuel these regions.
The Asia Pacific market is poised to witness the fastest growth during the forecast period. Factors such as growing medical tourism, increasing healthcare expenditures and expanding patient pool will support the APAC market. Japan, China and India are emerging prominently.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
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