Coronary Artery Bypass Graft Market Size, Share & Trends Analysis Report By Method (On-pump, Off-pump, Minimally Invasive Direct), By Surgical Procedure, By End-use, By Region, And Segment Forecasts, 2024 - 2030

Coronary Artery Bypass Graft Market Trends

The global coronary artery bypass graft market size was valued at USD 12.980 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 9.4% from 2024 to 2030. This market growth can be attributed to the increasing prevalence of coronary heart disease globally. As per the estimates of WHO, cardiovascular disease is a leading cause of death globally, accounting for 17.9 million lives per year. Moreover, increasing incidences of other chronic disorders, such as diabetes and hypertension, also influence the growth of coronary artery bypass graft (CABG) market. High blood sugar damages the heart's blood vessels, leading to a high risk of cardiovascular diseases.

The pandemic had a significant impact on the market. It led to a major disruption in the routine procedures of patients. In addition, many essential surgeries were halted, and the beds were allotted to COVID patients. However, eventually, it also positively impacted the market as several clinical studies showed that patients suffering from COVID-19 infection also have a high risk of developing a myocardial injury. Thus, the abovementioned factors led to a significant change in bypass surgery related procedures.

The market is also growing due to increased myocardial infarction, an increasing geriatric population, and a favorable reimbursement scenario. According to the national library of Medicine estimate, myocardial infarction accounts for 3 million lives globally. In addition, as per the estimates of the United Nations, the geriatric population is expected to double by 2.1 billion in 2050. The geriatric population is more prone to cardiovascular diseases as fat deposits build up over the wall of arteries over a period of time. Moreover, a favorable reimbursement scenario is also positively influencing the market growth.

Market Concentration & Characteristics

The market experienced, notable innovations include ongoing innovation focuses on minimizing invasiveness through techniques like robotics and advanced imaging, while advancements in stent technology, biodegradability, and personalized medicine contribute to improving patient outcomes.

Several market players such as Medtronic plc, Novadaq Technologies Inc, and Terumo Corporation, are involved in merger and acquisition activities. Through their involvement in merger and acquisition activities, key players in the cardiac rhythm management devices market are able to extend their geographical footprint and venture into new regions.

Stringent regulatory requirements in the Coronary Artery Bypass Graft (CABG) market ensure the safety and efficacy of procedures and devices, influencing product development timelines and market access.

Emerging alternatives such as drug-eluting stents and catheter-based interventions pose potential substitutes for traditional Coronary Artery Bypass Graft (CABG) procedures, offering less invasive options for managing coronary artery disease.

Companies in the Coronary Artery Bypass Graft (CABG) market are pursuing regional expansion strategies, targeting markets with a high prevalence of cardiovascular diseases and collaborating with local healthcare providers to broaden their geographic footprint.

Method Insights

The off-pump segment accounted for the largest revenue share of over 53.6% in 2023. This growth can be attributed to benefits associated with the method, such as shorter hospital stays, smaller incisions, and faster recovery. In addition, it also reduces the risk of various postsurgical conditions such as infection, arrhythmia, infection, and inflammation. Moreover, it offers better options to patients with cirrhosis, chronic lung conditions, and kidney problems. Thus, the factors mentioned above contribute to the market's growth.

The on-pump segment is estimated to register the fastest CAGR over the forecast period. This growth can be attributed to benefit associated over off pump bypass surgery studies shows that off pump bypass surgeries could lead to increased mortality rate and higher prevalence of recurring angina, this factor is overall positively influencing the market growth for the segment.

Surgical Procedure Insights

The single CABG surgery segment dominated the market in 2023 with a revenue share of 32.9%. As one of the most frequent major procedures is coronary artery bypass grafting (CABG), and the treatment highly depends on one or more cardiac arteries that are blocked.  The three coronary arteries of the heart are not all equal. The left anterior descending artery (LAD) is the most significant artery. A constriction or blockage in the LAD is more severe than blockage in the other arteries. The left anterior descending artery can get blocked, which can result in a catastrophic heart attack. In most cases, bypass surgery is the best option for a blocked LAD. The high adoption of bypass surgery for treating LAD, contribute to the single CABG segment market growth.

The Double CABG Surgery segment has been anticipated to show lucrative growth over the forecast period due to its effectiveness in treating complex coronary artery disease. This surgical procedure involves grafting two coronary arteries to bypass blocked or narrowed vessels, thereby improving blood flow to the heart muscle. Furthermore, the rising prevalence of cardiovascular diseases, coupled with an aging population and an increasing number of patients with multiple coronary artery blockages, is driving the demand for Double CABG surgeries.

End Use Insights

The hospital segment dominated the market in 2023 with a revenue share of 52.6%.This can be attributed to technological advancements that aid in treating complex medical conditions at hospitals. The hospitals have a wide range of access to diagnostic equipment that aids in treating chronic conditions. Thus, the mentioned factor is contributing to growth for the segment.  In addition, the presence of major hospitals such as Cleveland Clinic contributes to the higher share of the segment. Cleveland Clinic consistently ranks among the best hospital systems in the world and the U.S., and it is especially well-regarded regarding technical management systems.

The cardiology centers segment has been anticipated to show lucrative growth over the forecast period. This growth is attributed to an increase in privately owned specialty centers for diagnosing and treating diseases specific to the cardiovascular system.

Regional Insights

North America dominated the overall coronary artery bypass graft market with a share of over 47.5% in 2023. This growth can be attributed to the high prevalence of cardiovascular diseases across the region and technological advancements that offer patients off-pump and on-pump bypass procedures. In addition, many private institutions and CMS (Centers for Medicare & Medicaid Methods) offer reimbursement coverage for medical devices and surgeries. All these factors are driving the market growth in the region.

The U.S. accounted for the largest share of the market in North America region in 2023. The U.S. has a large and aging population, contributing to a higher prevalence of cardiovascular diseases, which often necessitate coronary artery bypass graft procedures. Moreover, the country has a well-established healthcare infrastructure, advanced medical technologies, and a robust reimbursement framework, facilitating widespread access to CABG surgeries.

The Asia Pacific region is expected to grow at the fastest rate during the forecast period. This growth can be attributed to various factors, such as the increasing geriatric population in India and China. As per the estimates of WHO, by 2040, an estimated 402 million of the total population in China will be more than 60 years. These countries also have a high rate of coronary heart disease (CHD) mortality. Thus, above mentioned factors are contributing to the growth of the market.

China accounted for the largest share of the market in the Asia Pacific region in 2023. The country's large population, coupled with a rising incidence of cardiovascular diseases, creates a substantial patient pool for CABG procedures. China's rapidly expanding economy has led to increased healthcare spending and infrastructure development, enhancing accessibility to advanced medical treatments, including coronary artery bypass graft surgeries.

Key Coronary Artery Bypass Graft Market Company Insights

Leading players such as Medtronic, Terumo Corporation, and Novadaq Technologies Inc. are consistently driving innovation by introducing cutting-edge technologies and methodologies to enhance patient outcomes and procedural efficacy. Additionally, their strategic endeavors extend to forging impactful partnerships and undertaking acquisitions, allowing them to bolster their market presence and stay at the forefront of developments in the competitive market.

Emerging market players such as Edwards Lifesciences and Genesee Biomedical Inc are actively engaging in expanding their footprint through strategic initiatives. This includes the development of innovative technologies, forming alliances, and seeking partnerships to position themselves competitively against established players in the market.

Recent Developments

• In February 2023, Kimal PLC unveiled a strategic collaboration with Marizyme, Inc. to promote DuraGraft, the company's flagship product designed to prevent ischemia-reperfusion injury, a key factor in vein graft disease.

• In August 2022, Grand Pharmaceutical Group of China invested USD 16.5 million in Xeltis, a leading medical device company headquartered in the Netherlands, renowned for its clinical-stage innovations. Grand Pharmaceutical's contribution supports Xeltis in of developing polymer-based restorative devices specifically designed for cardiovascular treatment, including heart valves and small-diameter blood arteries utilized in Coronary Artery Bypass Graft (CABG) surgery.

• In August 2022, Medtronic completed the acquisition of Affera, Inc. This acquisition is expected to increase the cardiovascular product portfolio of the company.

Coronary Artery Bypass Graft Market Report Scope

Global Coronary Artery Bypass Graft Market Report Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global coronary artery bypass graft market report on the basis of method, surgical procedure, end-use and region:

• Method (Revenue in USD Million, 2018 - 2030)

  • Off-pump

  • On-pump

  • Minimally Invasive Direct 

• Surgical Procedure (Revenue in USD Million, 2018 - 2030)

  • Single CABG Surgery

  • Double CABG Surgery

  • Triple CABG Surgery

  • Quadruple CABG Surgery

• End-use (Revenue in USD Million, 2018 - 2030)

  • Hospitals

  • Cardiology Centres

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • South Korea

    • Australia

    • Thailand

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait