Coronary Artery Bypass Grafts Device Market Research, 2032
The global coronary artery bypass grafts device market was valued at $0.96 billion in 2022, and is projected to reach $1.38 billion by 2032, growing at a CAGR of 3.7% from 2023 to 2032. Coronary artery bypass grafts devices are medical tools and techniques used in cardiac surgery to treat patients with coronary artery disease, a condition in which the blood vessels that supply the heart muscle with oxygen and nutrients become narrowed or blocked. Coronary artery bypass grafts procedures aim to restore proper blood flow to the heart muscle by bypassing the blocked or narrowed arteries.
The coronary artery bypass grafts device market is expected to grow significantly, owing to surge in prevalence of coronary artery disease, rise in geriatric population, and unhealthy lifestyle. The rise in the prevalence of coronary artery disease has emerged as a significant driver for the coronary artery bypass grafts device market. Coronary artery disease, is a condition characterized by the narrowing of the coronary arteries due to the accumulation of plaque.
According to 2021 report by Center for Disease Control and Prevention, Coronary artery disease (CAD) is the most common type of heart disease in the U.S. Furthermore, according to 2021 report by National Library of Medicine, the incidence of coronary artery disease increased annually by 2.7% and 1.2% in men and women, respectively. In response to this escalating health concern, there has been a notable surge in the demand for coronary artery bypass grafts procedures, which are performed to bypass blocked or narrowed coronary arteries. Thus, the rise in prevalence of coronary artery disease is expected to drive the growth of the coronary artery bypass grafts device market.
Furthermore, a rise in geriatric population is expected to contribute significantly in the growth of the coronary artery bypass grafts device market. Advancements in healthcare and medical technology have led to increased life expectancy, allowing individuals to live longer than ever before. As a result, a larger portion of the population now falls into the elderly category, where the risk of cardiovascular diseases such as coronary artery disease is notably higher.
According to the World Health Organization, it was estimated that by 2030, 1 in 6 people in the world will be aged 60 years or over. The risk of coronary artery disease increases with age. For instance, according to the Center of Disease Control and Prevention, about 1 in 20 adults aged 20 and older have coronary artery disease. In conclusion, the surge in the geriatric population is undeniably a major catalyst for the expansion of the coronary artery bypass grafts device market, as it underscores the urgency and importance of addressing cardiovascular issues in an aging society.
In addition, unhealthy lifestyle choices and poor dietary habits have emerged as significant drivers for the growth of the coronary artery bypass graft device market. An unhealthy lifestyle marked by physical inactivity, smoking, excessive alcohol consumption, and chronic stress contributes significantly to the development and progression of coronary artery disease. According to 2023 report by Center of Disease Control and Prevention, eating a diet high in saturated fats, trans fat, and cholesterol has been linked to heart disease and related conditions, such as atherosclerosis and drinking too much alcohol can raise blood pressure levels and the risk for heart disease. In conclusion, the prevalence of an unhealthy lifestyle and poor dietary choices has become a major driver behind the expansion of the coronary artery bypass graft device market.
However, the high cost of coronary artery bypass graft device might act as significant challenge for the coronary artery bypass graft device market. The high cost of coronary artery bypass graft devices contributes to the overall rising healthcare expenditure. Hospitals and healthcare facilities must allocate a substantial portion of their budgets to procure these devices, which can strain their financial resources. This, in turn, may lead to increased healthcare costs for patients, insurance companies, and government healthcare programs, making essential medical treatments less accessible and affordable for many individuals. Patients without adequate insurance coverage or those residing in regions with limited healthcare resources may be forced to forego CABG surgery due to financial constraints, despite its medical necessity. In conclusion, the high cost of coronary artery bypass graft devices represents a substantial challenge for the coronary artery bypass grafts device market.
The 2023 recession has significantly impacted the coronary artery bypass grafts device industry, leading to layoffs by major players such as Baxter International Inc. These workforce reductions have caused disruptions in product development and customer support. Moreover, the rising inflation rate has further strained the market, making it challenging for companies to maintain profitability. Budget cuts have also been imposed, limiting investment in research and development, innovation, and marketing efforts. Overall, the recession has created a challenging environment for the coronary artery bypass grafts device market, hampering growth and hindering progress in the sector.
The coronary artery bypass graft devices market is segmented on the basis of technology, product, end user, and region. By technology, the market is categorized into off-pump CABG, on-pump CABG and minimally invasive CABG. By product, the market is categorized into cardiopulmonary bypass machines, endoscopic vessel harvesting systems, heart positioners, tissue stabilizer, retractors, and others. By end user, the market is categorized into hospitals, cardiology clinics and others. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA)
The coronary artery bypass grafts device market is categorized into off-pump CABG, on-pump CABG, and minimally invasive CABG. The on-pump segment was the largest revenue contributor to the 2022, coronary artery bypass grafts device market size owing to high adoption by the surgeons owing to the fact that The use of the heart-lung machine provides the surgeon with better control of the surgical field. This can be crucial in complex cases and is perceived as a safer method, which can attract more patients and surgeons. In addition, On-pump CABG has been the standard approach for many years. It is a well-established and widely practiced technique, making it a default choice for many cardiac surgeons and hospitals.
However, the off-pump segment is expected to register fastest growth in the coronary artery bypass grafts device market 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. This is appealing to both patients and healthcare providers, as it can lead to cost savings, thus boosting coronary artery bypass grafts device market opportunity.
The coronary artery bypass grafts device market is categorized into cardiopulmonary bypass machines, endoscopic vessel harvesting systems, heart positioners, tissue stabilizer, and others. The tissue stabilizer segment was the highest revenue contributor to the coronary artery bypass grafts device market size in 2022 as tissue stabilizers are crucial for maintaining a clear surgical field, minimizing tissue movement, and enhancing the precision of graft attachment. However, the endoscopic vessel harvesting segment is expected to register the fastest growth in the forecasted period owing to high adoption surgical field due to enhanced visualization and minimalist approach.
By End User
On the basis of end user, the market is classified into hospitals, cardiology clinics and others. The hospital segment held the highest coronary artery bypass grafts device market share in 2022, owing to the fact that hospitals have long been the primary treatment centers for coronary artery disease. They are equipped with specialized facilities, advanced surgical equipment, and skilled medical professionals, making them a natural choice for performing CABG procedures Furthermore, hospitals cater to a diverse patient pool, including both emergency cases and scheduled surgeries.
Coronary artery bypass graft procedures often require immediate attention in cases of acute myocardial infarction or unstable angina, which are frequently treated in hospital settings. However, the cardiology clinics segment is expected to register fastest growth in the forecasted period 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.
On the basis of region, the coronary artery bypass grafts device market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. On the basis of region, North America held the highest coronary artery bypass grafts device market share in 2022, owing to well-developed healthcare infrastructure and rise in geriatric population, and strong presence of major key players. However, Asia-Pacific is expected to exhibit the fastest coronary artery bypass grafts device market growth during the forecast period, rise in prevalence of coronary heart disease and favorable government initiatives such as national health insurance scheme.
Competitive analysis and profiles of the major players in the coronary artery bypass grafts device market, such as are Medtronic, Baxter International Inc, Terumo Corporation, Teleflex Incorporated, Peters Surgical Group, Getinge AB, Genesee Biomedical Inc, and Transonic Systems Inc. Saphena Medical, Inc. and Condor MedTec GmbH Major players have adopted, product launch as key developmental strategies to improve the product portfolio and gain strong foothold in the coronary artery bypass grafts device industry.
Recent Product Launch in the Coronary Artery Bypass Grafts Device Market
- In April 2022, AtriCure, Inc. announced that it has launched the EnCompass Clamp, a part of the Isolator Synergy Ablation System in the U.S.
- In March 2023, LivaNova PLC, a market-leading medical technology and innovation company, announced it received U.S. Food and Drug Administration (FDA) 510(k) clearance for its Essenz Heart-Lung Machine.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the coronary artery bypass grafts device market analysis from 2022 to 2032 to identify the prevailing coronary artery bypass grafts device market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the coronary artery bypass grafts device market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global coronary artery bypass grafts device market trends, key players, market segments, application areas, and market growth strategies.
Coronary Artery Bypass Grafts Device Market Report Highlights
Market Size By 2032
USD 1.4 billion
CAGR of 3.7%
2022 - 2032
By End Users
Key Market Players
Terumo Corporation, Peters Surgical Group, Getinge AB, Condor MedTec GmbH, Transonic Systems Inc., Genesee Biomedical Inc, Baxter International Inc., Medtronic, Saphena Medical, Inc., Livanova, Plc
The coronary artery bypass graft devices market has witnessed significant evolution and growth over the years, reflecting the ever-increasing demand for innovative solutions in cardiovascular care. The global prevalence of coronary artery disease (CAD) remains a driving force behind this market's expansion, as the need for effective treatment options persists. Coronary artery bypass graft procedures, which involve bypassing obstructed coronary arteries to restore blood flow to the heart, are a crucial aspect of CAD management, and the devices used in these surgeries play a pivotal role. In addition, the rising prevalence of chronic diseases, lifestyle changes, and an aging population worldwide have contributed to the increased demand for CABG procedures, further driving market growth.
Furthermore, emerging economies are witnessing a surge in healthcare infrastructure development, leading to increased access to advanced medical treatments, including coronary artery bypass graft procedures. This expansion presents new opportunities for market players to diversify their product offerings and tap into previously untapped markets.
In conclusion, coronary artery bypass graft devices market is expected to grow significantly owing to rise in prevalence of cardiovascular diseases, and well-developed healthcare infrastructure.