The new report by Expert Market Research titled, ‘Global Coronary Artery Bypass Graft Procedures Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global coronary artery bypass graft procedures market, assessing the market based on its graft type, surgery type, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 16.7 Billion
- Forecast CAGR (2021-2026): 5%
The growth in the global coronary artery bypass graft procedures market is induced by aspects like rising rates of multiple cardiovascular conditions, including coronary heart disease (CHD), strokes, and myocardial infarction (MI), coupled with a growing preference for minimally invasive surgical procedures. Furthermore, the industry for CABG procedures is anticipated to boost due to improved patenting rates, long-term findings, technological advancements, and a strong demand for internal thoracic artery grafting. The presence of benefits, including a better healthcare system, lower costs for surgery, and superior hospitality, are among the factors that are driving the demand for coronary artery bypass graft procedures in developing nations.
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Industry Definition and Major Segments
Coronary artery bypass grafting (CABG) is a surgical procedure used to improve reduced heart blood circulation. It is used when the arteries that supply blood to the heart tissue, known as coronary arteries, become blocked or narrowed.
Based on graft type, the market is divided into:
- Saphenous Vein Grafts
- Internal Thoracic Artery Grafts
Based on surgery type, the industry is segmented into:
- Single CABG Surgery
- Double CABG Surgery
- Triple CABG Surgery
- Quadruple CABG Surgery
On the basis of region, the market is divided into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
Sedentary lifestyle, psychological stress, and junk food consumption are the primary causes of cardiovascular diseases (CVDs) in people all over the world. CVDs are responsible for the greatest number of fatalities worldwide, as per the World Health Organization. The rising geriatric population around the globe is anticipated to be a key driver of increased coronary artery bypass graft surgeries, bolstering the advancement of this market over the forthcoming years. According to American Heart Association (AHA) projections, the world’s geriatric population will account for nearly 20.0 percent of the total population by 2030. Implementation of technologically superior devices, as well as the expansion of the healthcare industry globally, will provide ample opportunity for the expansion of the market.
Key Market Players
The major players in the market are Boston Scientific Corporation (NYSE: BSX), KARL STORZ GmbH & Co. KG, Boston Scientific, MAQUET Holding B.V. & Co.KG, Ethicon US, LLC. (Johnson & Johnson), Genesee Biomedical, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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