by Coronary artery bypass grafting (CABG) is an operation used to treat people with coronary artery disease that have advanced blockages. A graft utilizes blood vessels from elsewhere in the body in order to bypass severe narrowing of the coronary arteries and restore normal blood flow to the heart. CABG is associated with improved survival and reduces the risk of chest pain compared to standard treatment alone in people with significant blockages of two or more coronary arteries or left main coronary artery disease.
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.
Advancements in robotic-assisted surgery technologies have enabled more minimally invasive and precise surgeries, driving higher adoption of CABG procedures globally.
Key Takeaways
Key players operating in the coronary artery bypass grafting market 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., and VasoPrep Surgical, Dextera Surgical Inc., Neograft Inc.
The Coronary Artery Bypass Grafting Market Demand players in emerging economies, and growing demand for minimally invasive surgeries. Technological advancements such as robot-assisted surgery systems are making CABG procedures more precise and reducing recovery times.
Market Drivers
The major market driver is the rising prevalence of cardiovascular diseases globally due to increasing risk factors such as obesity, diabetes, smoking, and poor lifestyle habits. Economic development in emerging countries is also expected to fuel the growth as people can afford advanced medical treatments. Growing accessibility to healthcare facilities and increasing healthcare expenditure are further propelling the market expansion.
Current Challenges in Coronary Artery Bypass Grafting Market
The Coronary Artery Bypass Grafting Market Size And Trends for minimally invasive procedures like percutaneous coronary interventions (PCI). The long recovery time associated with open-heart CABG surgery is also driving the demand for minimally invasive alternatives. However, CABG still remains the gold standard for patients with multiple blockages or diabetes. The need to reduce healthcare costs is also exerting pressure on market players to develop affordable and innovative solutions in this space.
SWOT Analysis
Strength: CABG is considered the most effective surgical treatment for complex coronary heart disease. It provides long lasting relief from chest pain and improves survival rate.
Weakness: CABG requires open-heart surgery and several weeks of recovery. The surgery is also more expensive than PCI.
Opportunity: Growth in the geriatric population who are at high risk of coronary artery disease will demand efficient CABG procedures.
Threats: Increasing preference for minimally invasive PCI and stents poses a major threat to the CABG market. Stringent regulations for device approval also impact market growth.
Geographical Regions with Highest Market Value
North America dominates the CABG market currently with the highest procedure volume and device sales. Within the region, the US accounts for the lion’s share due to the heavy burden of coronary artery disease and advanced healthcare infrastructure. Europe is the second largest CABG market driven by Germany, France, and the UK. Asia Pacific is poised to be the fastest growing regional market led by economies like India, China, and Japan. This is attributed to growing medical tourism, increasing healthcare spending, and rising incidence of heart disease.
Fastest Growing Geographical Region
Asia Pacific is slated to witness the fastest growth in the CABG market over the forecast period. Factors such as the large patient pool, rising affluence, increased healthcare access, and growing adoption of Western lifestyles will propel the demand for CABG in Asia Pacific. Besides, significant investments by market players in developing local manufacturing capabilities and an expanding medical tourism industry in countries like India and Thailand will further support the growth of CABG in this region. Additionally, with greater awareness, Asia Pacific patients are aggressively seeking surgical treatments for cardiovascular diseases instead of relying on medications alone.
*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
Ravina Pandya, a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile
