Coronary Artery Bypass Graft Market Size

Market Outlook:

Coronary Artery Bypass Graft Market size crossed USD 14.32 Billion in 2023 and is set to reach USD 26.15 Billion by end of the year 2032, observing around 7.1% CAGR between 2024 and 2032.

• Base Year Value (2023): USD 14.32 Billion
• CAGR (2024-2032): 7.1%
• Forecast Year Value (2032): USD 26.15 Billion
• Historical Data Period: 2019-2023
• Largest Region: North America
• Forecast Period: 2024-2032

Market Dynamics:

Growth Drivers & Opportunity:

1. Increasing prevalence of coronary artery disease (CAD): The rising prevalence of CAD, which is a leading cause of mortality worldwide, is a key growth driver for the coronary artery bypass graft (CABG) market. According to the World Health Organization, CAD is the single largest cause of death globally, leading to over 7.4 million deaths in 2019. As the incidence of CAD continues to rise due to lifestyle changes, aging populations, and increasing obesity rates, the demand for CABG procedures is expected to increase.

2. Technological advancements in surgical techniques: Advances in surgical techniques and technologies have significantly improved the outcomes of CABG procedures, leading to a higher success rate and reduced post-operative complications. The introduction of minimally invasive procedures, robotic-assisted surgeries, and the development of advanced surgical tools and equipment have made CABG procedures safer and more effective, driving the growth of the market.

3. Growing geriatric population: The aging population is another major growth driver for the CABG market. With advancements in healthcare and medical technology, people are living longer, leading to an increase in the number of elderly individuals who require treatment for CAD. As the elderly population continues to grow, the demand for CABG procedures is expected to rise, contributing to the market's growth.

4. Increasing healthcare expenditure: The increasing healthcare expenditure, particularly in emerging economies, is expected to drive the growth of the CABG market. With improving healthcare infrastructure, rising disposable incomes, and expanding insurance coverage, more individuals are gaining access to advanced cardiac care, including CABG procedures. This is expected to drive the market growth in these regions.

Industry

Report Scope

Report Coverage	Details
Segments Covered	Method, Surgery Type, Product, End-Use
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	Edwards Lifesciences, Getinge AB, Genesee Biomedical, Guidant, LivaNova PLC, Medtronic plc, Novadaq Technologies, Stryker, Teleflex Incorporated, Terumo

1. Cost of CABG procedures: The high cost associated with CABG procedures can be a major restraint for market growth. The expenses related to surgery, hospitalization, post-operative care, and rehabilitation can be a significant financial burden for patients, especially in developing countries with limited healthcare resources. The cost factor can limit the adoption of CABG procedures and restrain the growth of the market.

2. Alternative treatment options: The availability of alternative treatment options for CAD, such as percutaneous coronary intervention (PCI) and drug therapy, can also restrain the growth of the CABG market. These alternatives offer less invasive options for CAD treatment, and some patients may prefer these methods over undergoing a CABG procedure. Additionally, technological advancements in alternative treatments may further impact the demand for CABG procedures.

3. Stringent regulatory requirements: Stringent regulatory requirements for medical devices and surgical procedures can pose a challenge for the growth of the CABG market. The approval process for new devices and technologies, as well as the regulations for conducting surgical procedures, can be time-consuming and costly. This can hinder the introduction of new products and innovative technologies in the market, impacting its growth potential.