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The coronary artery bypass grafting market share is expected to increase by USD 34.01 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5%.
This coronary artery bypass grafting market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers coronary artery bypass grafting market segmentation by product type (on-pump, off-pump, and minimally invasive surgery) and geography (North America, Europe, APAC, and Rest of World (ROW)). The coronary artery bypass grafting market report also offers information on several market vendors, including Abbott Laboratories, Aesculap Inc., AtriCure Inc., Aruga Technologies, Bentley InnoMed GmbH, BIOTRONIK SE and Co KG, Boston Scientific Corp., Artivion Inc., Genesee BioMedical Inc., Getinge AB, Johnson and Johnson Inc., KARL STORZ SE and Co. KG, KLS Martin Group, Medtronic Plc, Saphena Medical Inc., Scanlan International Inc., Stryker Corp., Terumo Corp., VasoPrep Surgical, Cook Medical LLC, and Teleflex Inc. among others.
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The increasing prevalence of CVDs is notably driving the coronary artery bypass grafting market growth, although factors such as the availability of alternatives may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the coronary artery bypass grafting industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Coronary Artery Bypass Grafting Market Driver
The increasing prevalence of CVDs is one of the key drivers supporting the coronary artery bypass grafting market growth. According to the CDC, in 2019, 28.2 million adults were diagnosed with heart disease in the US. Every year, 805,000 deaths are recorded in the US due to heart disease, among which coronary heart disease (CHD) is the most common type of heart disease, with a mortality rate of approximately 360,900 in 2019. Furthermore, any blockage in the blood flow into the heart valve leads to regurgitation and stenosis. The increasing number of cases of mitral valve regurgitation, mitral valve stenosis, and heart failure where the heart cannot pump enough blood and oxygen to other parts of the body is driving market growth. In 2016, approximately 4.35 million people were diagnosed with aortic valve disease in the US. Hence, the demand for cardiovascular restoration devices is expected to increase to treat damaged and diseased heart valves, which, in turn, drives market growth.
Key Coronary Artery Bypass Grafting Market Trend
The increasing geriatric population is one of the key trends contributing to the coronary artery bypass grafting market growth. For instance, according to the United Nations (UN) Department of Economic and Social Affairs, the geriatric population (persons aged 65 years or above) worldwide was 702.9 million in 2019, which will increase to 727 million in 2020. Similarly, the geriatric population in India will increase by 41% over the next decade to touch 194 million in 2031. The geriatric population has a high risk of developing cardiac blockage issues due to poor lifestyles. A rapid increase in the percentage of the geriatric population worldwide is also increasing the demand for the treatment of cardiac-related problems. According to the AHA, it was estimated that the global geriatric population would account for 20% of the total global population in 2021. Thus, the increasing geriatric population around the world will drive the CABG market during the forecast period.
Key Coronary Artery Bypass Grafting Market Challenge
The availability of alternatives is one of the factors hindering the coronary artery bypass grafting market growth. The availability of alternatives such as heart repair and replacement devices, commissurotomy, percutaneous balloon mitral valvuloplasty, and vitamin D medications pose a challenge for the growth of the global CABG market. Heart repair and replacement devices are used to repair and replace defective heart valves, which are prone to valvular heart diseases, such as valve stenosis (stiffness) and valve regurgitation (leaky valves). Consuming vitamin D3 medications, such as cholecalciferol, to restore damaged cardiovascular epithelial cells, as well as blood thinners such as aspirin to prevent blood clots, also offer an alternative to performing CABG and therefore pose a challenge for the growth of the market in focus during the forecast period.
This coronary artery bypass grafting market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global coronary artery bypass grafting market as a part of the global pharmaceuticals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the coronary artery bypass grafting market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the coronary artery bypass grafting market encompasses successful business strategies deployed by the key vendors. The coronary artery bypass grafting market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The coronary artery bypass grafting market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the coronary artery bypass grafting market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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40% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for coronary artery bypass grafting market in North America. Market growth in this region will be slower than the growth of the market in APAC.
The presence of well-equipped and well-established healthcare infrastructure will facilitate the coronary artery bypass grafting market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 in 2020 negatively impacted the regional CABG market. However, from Q4 2020, the market started regaining its momentum due to numerous regional government initiatives, such as an increase in investments in healthcare infrastructure. It has been observed that many of the patients affected with COVID-19 were also diagnosed with chronic diseases, such as cardiac problems, which required further diagnosis. Such factors are expected to drive the growth of the coronary artery bypass grafting market during the forecast period.
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The coronary artery bypass grafting market share growth by the on-pump segment will be significant during the forecast period. On-pump CABG is a short period procedure that is performed while the heart is stopped. Meanwhile, blood supply is provided to the rest of the body when the heart is stopped. Moreover, today it is an extremely safe procedure that has a small risk of death and/or complications. The average risk of this procedure to a low-risk patient is 1%-2%. Furthermore, the increased availability of novel technologies, such as the emergence of Totally Endoscopic Robotically Assisted Coronary Artery Bypass (TECAB), has gained huge attention in recent years in this segment, is also expected to accelerate market growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the coronary artery bypass grafting market size and actionable market insights on post COVID-19 impact on each segment.
Coronary Artery Bypass Grafting Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5% |
Market growth 2022-2026 |
$ 34.01 million |
Market structure |
Fragmented |
YoY growth (%) |
4.0 |
Regional analysis |
North America, Europe, APAC, and Rest of World (ROW) |
Performing market contribution |
North America at 40% |
Key consumer countries |
US, Canada, China, India, and Russia |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Abbott Laboratories, Aesculap Inc., AtriCure Inc., Aruga Technologies, Bentley InnoMed GmbH, BIOTRONIK SE and Co KG, Boston Scientific Corp., Artivion Inc., Genesee BioMedical Inc., Getinge AB, Johnson and Johnson Inc., KARL STORZ SE and Co. KG, KLS Martin Group, Medtronic Plc, Saphena Medical Inc., Scanlan International Inc., Stryker Corp., Terumo Corp., VasoPrep Surgical, Cook Medical LLC, and Teleflex Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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