The Coronary artery bypass grafting market studied was anticipated to grow with a CAGR of nearly 7.8% during 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 rise in the geriatric population. For instance, according to Global Health And Wellness Report published in 2018, nearly 40% of the adult population in United States were diagnosed with a cardiovascular condition in the United States which directly resulted in higher demand for coronary artery bypass procedure and better cardiovascular devices for efficient treatments fueling the growth of the market throughout the forecast period.
Key Market Trends
The On-pump CABG Technology Segment is Expected to Hold the Largest Market Share in the Coronary Artery Bypass Grafting Market
- The On-pump CABG technology is expected to witness the largest market share in the coronary artery bypass grafting market during the forecast period. This dominance is due to the increased use of various devices such as the oxygenators, stabilizers, and heart-lung machines in CABG procedures fueling the growth of the market. On the other hand, the off-pump CABG segment is anticipated to grow at the fastest CAGR during the forecast period owing to rapid advancements in this technology which enhanced safety, efficiency, minimized chances of bleeding during the surgery and lesser risks of stroke and injuries to the cardiac muscle. Furthermore, increased availability of novel technologies such as the emergence of Totally Endoscopic Robotically Assisted Coronary Artery Bypass (TECAB) in this technology which has gained huge attention in recent years is also expected to fuel the market growth.
- Based on the end-users, hospitals are expected to account for the largest share in the market due to presence of a huge volume of new cases in the hospitals owing to the high preference of patients suffering from chronic diseases along with the availability of advanced infrastructure which is expected to propel the market growth during the forecast period.
North America Dominates the Market and Expected to do Same in the Forecast Period.
North America is expected to dominate the overall CABG market throughout the forecast period. The major factors attributing to the growth are a steep rise in the global prevalence of multiple cardiovascular indications like CAD, strokes and atrial fibrillation due to the rise in chronic diseases such as diabetes & obesity necessitating the CABG procedures and thus, rise in demand for surgical grafts and devices. For instance, according to Journal of American Medical Association report - 2018, about 93.3 million adults over the age of 20 in the United States were obese which is the major cause for coronary heart disease which directly drives the growth of market in the region contributing to the outstanding share of revenue propelling the global CABG market.
The 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. For instance, in February 2018, Aesculap, Inc. completed the asset acquisition of Dextera Surgical Inc. Through this acquisition, Aesculap expanded its product portfolio by adding innovative MicroCutter 5/80 staplers, PAS-Port proximal anastomosis system and innovative devices for CABG surgery to its existing medical devices which contributed in the company’s growth in the cardiothoracic surgery market which is expected to impel the global CABG market growth throughout the forecast period. 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 Study Assumptions
1.3 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.
4.3.2 Highly Expensive Treatments and Lack of Advanced Healthcare Infrastructure.
4.4 Porter's Five Force Analysis
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
5.4.1 North America
184.108.40.206 United states
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.4.4 Middle-East and Africa
188.8.131.52 South Africa
184.108.40.206 Rest of Middle-East and Africa
5.4.5 South America
220.127.116.11 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 Neograft Inc
6.1.8 Vitalitec International Inc
6.1.9 Edwards Lifesciences
6.1.10 Stryker Inc
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
- Neograft Inc
- Vitalitec International Inc
- Edwards Lifesciences
- Stryker Inc