The global coronary artery bypass graft (CABG) market is expected to reach USD 127.6 million by 2025, according to a new report by Grand View Research, Inc. The market is expected to witness lucrative growth over the forecast period, owing to increasing prevalence of Cardiovascular Diseases (CVDs) such as Coronary Artery Disease (CAD) or Coronary Heart Disease (CHD) coupled with rising geriatric population across the globe.
Favorable reimbursement policies, such as the U.S. Medicare (federal health insurance program) system, Medicaid, and National Health Insurance (NHI) have been a prime growth factor for the CABG market. Medical device companies provide new product platforms, which are covered under reimbursement programs that benefit the patients. Reimbursement services provided by Medicare and other insurers to physicians and hospitals is expected to fuel the demand for the adoption of CABG devices such as catheters, cannulae, retractors, positioners & stabilizers, suction devices, and syringes during the forecast period.
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Further Key Findings from the Study Suggest:
The saphenous vein grafts segment held a profitable revenue share in 2016 and is anticipated to grow at a significant rate over the forecast period
The off-pump CABG segment is anticipated to witness the fastest growth over the forecast period owing to the benefits offered by this technology such as increased safety, effective, reduced chances of bleeding during the surgery, low chances of stroke, low need for blood transfusions, low injury to the heart muscle, and improved quality of life
The endoscopic vein harvesting segment is expected to gain the market share over the forecast period as it eliminates the requirement for long incisions associated with open (conventional) harvesting, resulting in reducing the risk of wound infection and other complications, minimizing postoperative pain, and increasing the patient satisfaction level
North America is expected to dominate the CABG market during the forecast period, owing to the rising prevalence of CVDs in the U.S. and Canada. In addition, increasing per capita healthcare spending and growing population in the region are expected to spur the growth of this vertical.
Some of the key players of this market are Medtronic; TERUMO CORPORATION; Guidant Group; MAQUET Holding B.V. & Co.KG; Vitalitec International, Inc.; Novadaq Technologies Inc.; KARL STORZ GmbH & Co. KG; Edwards Lifesciences; Genesee Biomedical Inc.; and Sorin Group
Grand View Research has segmented the global CABG market on the basis of type, surgical procedure, technology, technique, and region:
CABG Market: Type Outlook (Revenue, USD Million, 2014 - 2025)
Saphenous Vein Grafts
Internal Thoracic Artery Grafts
CABG Market: Procedure Outlook (Revenue, USD Million, 2014 - 2025)
Single CABG Surgery
Double CABG Surgery
Triple CABG Surgery
Quadruple CABG Surgery
CABG Market: Technology Outlook (Revenue, USD Million, 2014 - 2025)
CABG Market: Technique Outlook (Revenue, USD Million, 2014 - 2025)
Conventional Vessel Harvesting
Endoscopic Vessel Harvesting
CABG Market: Regional Outlook (Revenue, USD Million, 2014 - 2025)
Middle East and Africa (MEA)
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