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.

CABG is a procedure used to treat diseases related to coronary artery. Coronary artery is carry essential nutrients and vitamins through the blood to the heart muscles. Coronary artery diseases related with the narrowing the artery due to saturation of fatty material on the inner wall of artery. Causes the barrier to supply of blood to the heart muscles.

Coronary Artery Bypass Grafting surgery is surgery to improve and restore the supply of blood to the heart muscles. Positive reimbursement programs, the global prevalence of various coronary heart diseases, a lack of physical activity and unhealthy dietary habits, and continuous progress in surgical methods all contribute to propelling the growth of coronary artery bypass grafting market in forecasted period.

For instance, as per research findings released in the International Journal of Health Policy and Management (IJHPR) in September 2021, a procedure involving just Coronary Artery Bypass Grafting (CABG) is compensated in a manner comparable to surgeries necessitating both CABG and the replacement of two heart valves. Consequently, all CABG procedures are reimbursed at a level similar to surgeries for heart valve replacement.

Moreover, the coronary artery bypass grafting market is experiencing growth driven by a rising incidence of myocardial infarction and an expanding elderly populations. According to estimates from the National Library of Medicine, myocardial infarction affects approximately 3 million individuals worldwide. Furthermore, according to projections by the United Nations, the elderly population is anticipated to double, reaching 1.5 billion by 2050. This demographic, due to the accumulation of fat deposits within arterial walls over time, is more susceptible to cardiovascular diseases.

COVID 19 pandemic had a significant impact on the coronary artery bypass grafting market, causing a substantial disruption in patient’s regular medical routines. Moreover, numerous critical surgeries were postponed, and hospital beds were dedicated to COVID patients. Nevertheless, over time, it also had a beneficial effect on the market, Multiple clinical studies indicated that individuals with COVID-19 infections had an elevated risk of experiencing myocardial injuries. As a result, the given factor led to a substantial change in the strategies for procedures related to bypass surgery.

Market Scope

Market Dynamics

The growth of the worldwide market for coronary artery bypass graft devices can be attributed to the surge in cases of cardiovascular diseases, primarily linked to factors such as obesity, diabetes, and hypertension. For instance, Cardiovascular disease stands as a leading global cause of mortality, as reported by the WHO's 2021 factsheet. In 2019, nearly 17.9 million individuals lost their lives to this condition, with 75 percent of these deaths occurring in low- and middle-income countries.

Furthermore, the technologically advanced Coronary Artery Bypass Grafting launched by various market players is also anticipated to enhance the growth the coronary artery bypass grafting market. For instance, according to a study published in January 2023 issue of the Journal of Thoracic and Cardiovascular Surgery, the application of a robotic platform is employed for conducting minimally invasive coronary artery bypass grafting (CABG). MICS CABG is an approach that employs smaller incisions and less invasive techniques for performing the surgery. This results in reduced hospital stays, less pain and quicker recovery periods.

Moreover, despite the many growth acceptances some factors restrain the growth like CABG is a complex surgical intervention procedure with inherent risks of success and acceptance, along with involving a significant cost of procedure included hospitalization, surgical fees, and follow-up care limit the coronary artery bypass grafting market growth.

Overall, with the help of existing and modern treatment therapy the CABG Market is expected to witness significant growth in the coming years, driven by the introduction of new therapies and an increasing demand for effective treatments

Market By Procedure Analysis

By Procedure, the Coronary Artery Bypass Grafting market is Categories into Single CABG Surgery, Double CABG Surgery, Triple CABG Surgery, Quadruple CABG Surgery and Others. The Single CABG Surgery segment accounts for the largest share of around 37% in 2022.

The significant growth can be attributed to factors such as effectively restores blood flow to the heart muscle, reducing the risk of heart attacks and improving long-term survival. Moreover, Single CABG can be performed with minimally invasive techniques, leading to smaller incisions and shorter hospital stays. Additionally, it allows for customized treatment, tailoring the procedure to individual patient needs. After surgery, patients often require fewer medications and experience an overall improvement in their cardiac health, making it a valuable option for those with severe coronary artery disease.

Market By Surgery Type Analysis

By Surgery Type, the Coronary Artery Bypass Grafting market is Categories Off-Pump, On-Pump, Minimally Invasive Direct CABG, and Others. The Off-Pump segment accounts for the largest share of around 54% of the market in 2022.

The increase in this trend can be linked to the advantages linked with this approach, including reduced hospitalization durations, smaller surgical openings, and quicker recuperation. Furthermore, it diminishes the likelihood of various complications after surgery, such as infections, irregular heartbeats, and inflammation. Additionally, it provides improved alternatives for individuals with cirrhosis, chronic respiratory issues, and kidney ailments.

Market End User Analysis

By End-user, the Coronary Artery Bypass Grafting market is Categories into Hospitals, Cardiology Clinics, Research Institutes and Others. The Hospital segment accounts for the largest share of around 54% in 2022. Rising investment in healthcare and increasing hospital facility in developed and developing country are major factor to drive the segment. Increasing prevalence of cardiovascular diseases and COVID-19 is one more additional factor which helps to dominate the segment.

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. For instance, data from the American College of Cardiology Foundation reveals that in 2019, an estimated 1.05 million individuals in the United States were grappling with coronary disorders.

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. For instance, in January 2023, Cipla Inc., an Indian multinational pharmaceutical company, introduced a diagnostic device named Cippoint. This device provides a point-of-care testing solution for a range of health conditions.

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.

Competitive Analysis

The Coronary Artery Bypass Grafting market is dominated by a few large companies, such as Dextera Surgical Inc., NOVADAQ Technologies Inc., VasoPrep Surgical,Terumo Cardiovascular Systems Corporation, Neograft Inc., MAQUET Holding B.V. & Co. KG., Hancock Jaffe Laboratories, Inc., Genesee BioMedical,  Boston Scientific, Edwards Lifesciences Corporation, Sorin Group and Others

There are some of the key trends that are shaping the competitive landscape of the Coronary Artery Bypass Grafting market.

January 2022, Humacyte has unveiled the outcomes of its initial preclinical trial involving the use of a 3.5mm Human Acellular Vessel (HAV) in coronary artery bypass grafting (CABG). This data was disclosed during the Advanced Therapies Week presentation.

August 2022, The Chinese pharmaceutical firm, Grand Pharmaceutical Company, recently invested 15 million euros in Xeltis, a well-established medical equipment manufacturer based in the Netherlands. Grand Pharmaceutical has pioneered the development of a polymer-based cardiovascular restorative device. Among the restorative devices used in coronary artery bypass graft (CABG) surgery are heart valves and small-diameter blood vessels.

Research Report Following Segments:

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