The global coronary artery bypass graft devices market is experiencing growth due to factors such as surge in prevalence of cardiovascular diseases, unhealthy diet and modern sedentary lifestyle, and rise in geriatric population.
PORTLAND, Ore. , Oct. 31, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Coronary Artery Bypass Grafts Device Market by Technology (Off-Pump, On-Pump, and Others), Product (Cardiopulmonary Bypass Machines, Endoscopic Vessel Harvesting Systems, Heart Positioners, Tissue Stabilizer, And Others) and End User (Hospitals, CardiologyCenters, and Others): Global Opportunity Analysis and Industry Forecast, 2023–2032". According to the report, the global coronary artery bypass grafts device market was valued at $0.96 billion in 2022 and is estimated to reach $1.38 billion by 2032, exhibiting a CAGR of 3.7% from 2023 to 2032. Cable Head For Downhole Tools
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Coronary artery bypass graft (CABG) devices are vital instruments utilized in cardiac surgery for addressing coronary artery disease (CAD), a condition characterized by the narrowing or blockage of blood vessels supplying the heart muscle due to the accumulation of plaque. These devices are used to establish new routes for blood circulation, bypassing the diseased or blocked coronary arteries, which in turn enhances blood flow to the heart muscle. This effectively alleviates angina (chest pain) and diminishes the likelihood of a heart attack.
Prime determinants of growth
The coronary artery bypass graft devices market has experienced significant growth due to alarming increase in the prevalence of cardiovascular diseases worldwide, modern lifestyles, characterized by unhealthy dietary habits and sedentary routines, have become pervasive, contributing to a rise in risk factors such as obesity, hypertension, and diabetes and rise in geriatric population. However, the high cost of coronary artery bypass graft devices restrains the market growth. Moreover, a rise in awareness about heart health will offer remunerative growth opportunities to the market in the upcoming years.
Report coverage & details:
No. of Pages in Report
Technology, Product, End User, And Region.
Surge in prevalence of cardiovascular diseases.
Unhealthy diet and modern sedentary lifestyle.
Rise in geriatric population
Rise in awareness about heart health.
High cost of coronary artery bypass graft devices.
Economic Downturn Analysis: Impact of Recession in 2023 on the Coronary Artery Bypass Grafts Device Market
The global recession has created a challenging environment for the coronary artery bypass graft devices market.
The high inflation rate for major key players of coronary artery bypass graft devices market has negatively impacted new product development and research activities.
However, the market for coronary artery bypass graft devices market is expected to recover owing to rise in prevalence of cardiac disorders.
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The tissue stabilizer segment to maintain its leadership status throughout the forecast period
Based on product, the tissue stabilizer segment held the highest market share in 2022, accounting for around one third of the coronary artery bypass graft devices market revenue and is estimated to continue its supremacy throughout the forecast timeframe. This is attributed to high use of tissue stabilizer to ensure the proper stable surgical field. However, the heart positioners segment is expected to register the fastest growth CAGR of 4.5% during the forecasted period owing to high adoption of heart positioners to ensure a clear view of the surgical field.
The hospital segment to maintain its leadership status throughout the forecast period
Based on end user, the hospital segment held the highest market share in 2022, accounting for nearly two-thirds of the global coronary artery bypass graft devices market revenue. This is attributed to the high number of coronary artery bypass graft surgeries performed in the hospitals. The Cardiac centers segment, on the other hand, would cite the fastest growth with 4.8% CAGR from 2023 to 2032, owing to the fact that patients with chronic or stable coronary artery disease often visit cardiology clinics for regular check-ups, medical management, and treatment planning.
The on-pump segment to maintain its leadership status throughout the forecast period
Based on technology type, the on-pump segment held the highest market share in 2022, accounting for nearly three-fifths of the global coronary artery bypass graft devices market revenue, owing to high adoption of on-pump by surgeons as it provides stable surgical field. However, off pump segment is expected to register the fastest growth in the forecast period owing to the reduced risk of complications during the surgery. moreover, the off pump CABG segment would cite the fastest growth with 4.2% CAGR during the forecast period, owing to fact the Off-pump CABG is associated with reduced complications such as bleeding, stroke, and kidney dysfunction when compared to on-pump CABG. This makes it an attractive option for patients who want to minimize the risks associated with heart surgery. Furthermore, patients who undergo off-pump CABG often experience shorter hospital stays and faster recovery times.
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The North America segment to maintain its leadership status throughout the forecast period
Based on region, the North America segment held the highest market share in 2022, accounting for more than two-fifths of the global coronary artery bypass graft devices market revenue. This is attributed to the rise in geriatric population, strong presence of major key players and well-developed healthcare infrastructure. However, the market across the Asia-Pacific region is expected to witness the fastest growth with 4.5% CAGR from 2023 to 2032. The growth is attributed to the rise in prevalence of coronary heart disease and favorable government initiatives such as national health insurance schemes.
Leading Market Players: -
The report provides a detailed analysis of these key players in the coronary artery bypass graft devices market. These players have adopted product launch to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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