Technavio’s market research report identifies the availability of favorable reimbursement policies for medical devices as one of the primary growth drivers for the global coronary artery bypass graft (CABG) market till 2021. The sales volume of CABG is increasing due to the change in these reimbursement policies. Many countries such as Thailand, India, China, and Singapore in the APAC region are heavily spending on public healthcare. This, in turn, will boost the number of CABG procedures.
CABG market growth
Reimbursement for CABG procedures such as cardiac valve and other major cardiothoracic procedures with cardiac catheterization and comorbidity (MCC) are provided by the insurance regulatory firms. Similarly, reimbursement for CABG procedures such as cardiac valve and other major cardiothoracic procedure without cardiac catheterization, without CC/MCC is also available. Technavio’s market research analysts predict that this market will grow at a CAGR of close to 6% by 2021.
CABG market share based on geography
The coronary artery bypass graft (CABG) market is experiencing considerable growth in the Americas due to the increasing prevalence of diseases such as coronary artery disease (CAD), cardiovascular diseases (CVD), stroke, and peripheral artery disease (PAD). Furthermore, the improved medical infrastructure such as hospitals, ASCs, and labs in many developed countries such as the US and Canada is driving the number of CABG procedures. Furthermore, the rising focus on the introduction of technologically advanced products will further drive the market’s growth.
CABG market worth: Competitive landscape and key vendors
The coronary artery bypass graft (CABG) market is concentrated. The vendors in the market are increasingly competing against each other based on factors such as the pricing, product differentiation, and distribution partnerships. Furthermore, large vendors of the coronary artery bypass graft market are focusing on increasing their global footprint and the adoption of strategic acquisitions or partnerships.
Key vendors in the CABG market
CABG market segmentation by product
MI direct CABG
The preference for off-pump CABG surgery to treat CHD is increasing because it helps in the avoidance of complications that are associated with cardiopulmonary bypass operation or procedure, during a cardiac bypass surgery. The coronary artery bypass graft market will continue to witness growth in the off-pump CABG segment because it reduces the side effects and helps to restore the flow of blood to the heart.
CABG market segmentation by end-users
Ambulatory surgical centers (ASCs)
A large number of patients highly prefer hospitals over other healthcare centers because hospitals extensively perform complex procedures such as CABG, which involves the placement of a graft inside the body. Patients who undergo such procedures in hospitals are highly satisfied because they are discharged early after they undergo procedures such as the percutaneous coronary intervention (PCI) procedure. The coronary artery bypass graft market will continue to grow in this segment due to the rising number of PCI procedures.
Key questions answered in the report include
What will the market size and the growth rate be in 2021?
What are the key factors driving the global coronary artery bypass grafts (CABG) market?
What are the key market trends impacting the growth of the global coronary artery bypass grafts (CABG) market?
What are the challenges to market growth?
Who are the key vendors in the global coronary artery bypass grafts (CABG) market?
What are the market opportunities and threats faced by the vendors in the global coronary artery bypass grafts (CABG) market?
What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
What are the key outcomes of the five forces analysis of the global coronary artery bypass grafts (CABG) market?
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