In an ever-changing global healthcare landscape, the Coronary Artery Bypass Grafting (CABG) market presents several growth opportunities for senior business executives to leverage. This market is projected to experience significant growth fueled by an increase in prevalence of various coronary heart diseases, favorable reimbursement initiatives, and demographic shifts such as a rise in the geriatric population.
Our market research report provides an in-depth look into the nuances of the CABG market, providing reliable data and actionable insights. The comprehensive offering explores key market trends, major factors driving market growth, potential restraints, as well as promising developments in CABG technology, particularly the off-pump technology. This report provides valuable strategic guidance for informed decision-making, potential investment opportunities, and a better understanding of the CABG market dynamics.
The COVID-19 pandemic impacted the studied market significantly. The pandemic impacted the demand for medical equipment in numerous ways. Due to the fear of COVID-19 infection, the number of CABG procedures decreased, and there was a drop in coronary artery bypass operations during the initial phases of the pandemic. This had an adverse impact on the market studied. However, during the later phases of the pandemic, coronary artery disease became the high-risk comorbidity of COVID-19. For instance, according to an article published in the Egyptian Heart Journal in September 2022, when a study was conducted among a limited target population of ages between 53 and 68 years between April 2020 to April 2022, 54.55% of the studied population had a recent acute coronary syndrome (ACS) and 90.91% of the studied population underwent CABG during the period. Thus, such instances show that the demand for CABG among the target population increased during the later phases of the pandemic. This further fueled the studied market, and the market is anticipated to continue its strong hold over the forecast period.
The major factors driving the growth of the market are the global prevalence of various coronary heart diseases, favorable reimbursement initiatives, and the rise in the geriatric population. For instance, according to CDC data published in April 2022, every year nearly more than 795,000 people get affected by stroke in the United States. About 185,000 of these strokes or roughly 1 in 4 occur in persons who have already had a stroke, and approximately 610,000 of them are first or recurrent strokes. The rising occurrence of strokes has resulted in increased demand for coronary artery bypass surgery for efficient treatments, thus it is expected to propel market expansion over the forecast period.
Favorable reimbursement regulations for CABG in various countries across the globe are anticipated to drive market expansion throughout the forecast period. According to a study published in IJHPR in September 2021, a surgery involving only CABG will be reimbursed like surgery requiring CABG and replacement of two valves. As a result, all CABG surgeries are reimbursed similarly to heart valve replacement surgery. Thus, the availability of proper reimbursement for CABG procedures is likely to encourage the market’s growth.
Therefore, factors such as a rise in coronary artery diseases and the availability of better reimbursement options are predicted to contribute to the market growth over the analysis period. However, the adoption of minimally invasive procedures like percutaneous coronary interventions may restrain the market growth over the forecast period.
Key Market Trends
The Off-pump CABG Technology Segment is Expected to Hold the Largest Market Share in the Coronary Artery Bypass Grafting MarketAn off-pump CABG is a CABG technology where the procedure is performed without the use of a heart-lung machine or cardiopulmonary bypass device, and the heart continues to provide blood to the rest of the body during the surgery. The off-pump CABG segment is anticipated to grow at the fastest CAGR during the forecast period. Factors such as rapid technological advancements with enhanced safety, and efficiency, minimized chances of bleeding during surgery, and possessed lesser risks of stroke and injuries to the cardiac muscle are expected to fuel the growth of the segment.
Due to the associated benefits of off-pump technology, the use of this technology is growing. According to the study published in the JAMA Surgery journal in February 2022, for 10-year death or revascularization end goals, there are various benefits of off-pump CABG; and the time to composite endpoint was shorter in the off-pump group than in the on-pump group. Thus, due to the benefits of the off-pump CABG over the other pump, the segment is expected to grow over the forecast period.
There is an increase in adoption of the off-pump technology for CABG procedures. For instance, according to an article published in the Journal of American Heart Association in March 2022, 14% of CABG surgeries carried out in the United States are done off-pump. Thus, the increasing adoption of the off-pump CABG technology in treating coronary heart diseases is expected to boost the segment's growth over the forecast period.
North America is Expected to Hold Major Market Share Over the Forecast PeriodNorth America holds a major market share of the studied market, and it is expected to continue its stronghold throughout the forecast period. The major factors attributing to the growth are a steep rise in the global prevalence of multiple cardiovascular indications like coronary artery diseases, strokes, and atrial fibrillation due to the rise in lifestyle-related diseases such as diabetes and obesity necessitating the CABG procedures and thus, a rise in demand for surgical grafts and devices.
The available statistics show that there is a burden of coronary heart disease (CHD) in North America, especially in the United States. For instance, according to the July 2022 update by CDC, 20.1 million Americans aged 20 years and older were affected by CHD in 2020. Additionally, as per the same source, every year nearly about 805,000 Americans experience a heart attack. Thus, the increasing incidence of heart disease requires CABG procedures for patient survival. Thus, the growing prevalence of heart diseases and other cardiac disorders is expected to contribute to the studied market growth in the region.
Moreover, the demand for CABG is increasing due to a rise in awareness about the procedures among the target population. According to a research article published in the CRM Journal in August 2022, most of the patients with multivessel or left main coronary artery disease (CAD) adopt CABG as their preferred revascularization method. In addition, as per the same source, over 350,000 CABG procedures are carried out in the United States every year. Thus, the growing adoption of CABG surgeries in the United States is expected to support market growth.
Additionally, market players are concentrating more on the launch of cutting-edge products which is further fostering market expansion in the region. For instance, in September 2021, CardioPrecision Ltd launched its suite of CoreVista devices for use during CABG surgery. Therefore, owing to the factors stated above, the market studied is expected to witness growth in North America.
Competitive LandscapeThe coronary artery bypass grafting market is moderately competitive and consists of several major players. Few of the key players are developing the novel product and technologies to compete with the existing products while others are acquiring and partnering with the other companies trending in the market. Some of the companies which are currently dominating the market are Medtronic Plc, Terumo Medical Corporation, Getinge AB, Genesee Biomedical Inc, and Karl Storz SE & Co KG
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Table of Contents
1.2 Scope of the Study
4.2 Market Drivers
4.2.1 Rise in Global Prevalence of Cardiac Disorders such as Strokes and Coronary Heart Diseases
4.2.2 Availability of Technologically Advanced Products and Reimbursement Policies
4.3 Market Restraints
4.3.1 Adoption of Minimally Invasive Procedures Like Percutaneous Coronary Interventions.
4.4 Porter Five Forces
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1.1 Off-pump CABG
5.1.2 On-pump CABG
5.2 By Products and Services
5.3 By End Users
5.3.2 Cardiology Clinics
5.3.3 Other End Users
5.4.1 North America
188.8.131.52 United states
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.4.4 Middle East and Africa
126.96.36.199 South Africa
188.8.131.52 Rest of Middle East and Africa
5.4.5 South America
184.108.40.206 Rest of South America
6.1.1 Terumo Medical Corporation
6.1.2 Getinge AB
6.1.3 Genesee Biomedical Inc
6.1.4 Medtronic PLC
6.1.5 Karl Storz SE & Co KG
6.1.6 Scanlan International Inc
6.1.7 Teleflex Incorporated
6.1.8 Peter Surgical
6.1.9 Edwards Lifesciences
A selection of companies mentioned in this report includes:
- Terumo Medical Corporation
- Getinge AB
- Genesee Biomedical Inc
- Medtronic PLC
- Karl Storz SE & Co KG
- Scanlan International Inc
- Teleflex Incorporated
- Peter Surgical
- Edwards Lifesciences