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What is the Expected Growth Rate of the Coronary Artery Bypass Graft Market from 2024 to 2033?

In recent times, the market size for coronary artery bypass graft has seen robust growth. The market, which is anticipated to expand from $11.45 billion in 2023 to $12.5 billion in 2024, is expected to register a compound annual growth rate (CAGR) of 9.2%. Factors such as an increase in the aging population, development in healthcare infrastructure, a surge in cardiovascular diseases, awareness drives, and insurance coverage have contributed to its growth during the historic period.

The market size for coronary artery bypass graft is projected to witness substantial expansion in the coming years. It is anticipated to reach $17.37 billion by 2028, growing at a compound annual growth rate (CAGR) of 8.6%. The augmentation during the forecast period is due to the progression in ambulatory surgery centers (ascs), assimilation of digital health, advancement in telemedicine, introduction of remote patient monitoring devices, and adoption of patient-centric strategies. An array of trends predicted during this period includes enhancements in surgical methodologies, joint research initiatives, the addition of robotics in surgical procedures, deployment of biodegradable implants, utilization of AI for diagnostics, and VR-based training for surgeons.

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What Key Factors Are Fueling the Growth of the coronary artery bypass graft Market?

The escalating occurrence of cardiovascular ailments is anticipated to prompt an upswing in the coronary artery bypass graft market. The term cardiovascular disease is a broad category encompassing a variety of disorders related to the heart and blood vessels. A coronary artery bypass graft procedure is typically suggested to minimize the risk of cardiac arrest by engineering a new route for the blood to bypass the obstructed or partially obstructed arteries in the heart. An instance that exemplifies this is the journal published by Oxford University Press, a renowned UK-based university press of the University of Oxford, in March 2023, which predicted that the number of people suffering from peripheral artery diseases would surge by 50% by 2045. Consequently, the escalating occurrence of cardiovascular ailments is steering the expansion of the coronary artery bypass graft market.

What Are the Major Segments of the Coronary Artery Bypass Graft Market?

1) By Procedure: Single Coronary Artery Bypass Graft (CABG) Surgery, Double Coronary Artery Bypass Graft (CABG) Surgery, Triple Coronary Artery Bypass Graft (CABG) Surgery, Quadruple Coronary Artery Bypass Graft (CABG) Surgery, Other Procedures

2) By Method: Off-pump, On-pump

3) By End-Use: Hospitals, Cardiology Clinics, Research Institutes, Other End-Users

What New Trends Are Transforming the Coronary Artery Bypass Graft Market?

Strategic partnerships are a primary trend emerging in the coronary artery bypass graft market. One of the key strategies being employed by major firms operating in this market is teaming up strategically to bolster their standing and gain an edge over the competition. For example, Medtronic plc, a medical device company based in the US, entered into a collaboration with CathWorks, a medical equipment maker based in Israel in July 2022. As per the terms of this deal, Medtronic will fund up to $75 million in the Israel-based company and help promote CathWorks’ FFRangio System in the US, Japan, and Europe. Moreover, in September 2021, Etiometry, an American provider of clinical decision-making software for critical care, joined forces with Terumo Cardiovascular, an American medical device manufacturer specialising in cardiac and vascular surgery. This alliance will provide adult cardiac surgery patients with access to improved clinical decision-making tools during and after their recovery from surgery. By integrating Terumo’s cardiac surgical devices with Etiometry’s platform, a deeper comprehension of the patient’s health status and improved management of perioperative care can be achieved.

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Which Regions Are Driving Growth in the Coronary Artery Bypass Graft Market?

North America was the largest region in the coronary artery bypass graft market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the coronary artery bypass graft market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Coronary Artery Bypass Graft Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the coronary artery bypass graft market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Coronary Artery Bypass Graft Market Include

1. Coronary Artery Bypass Graft Market Executive Summary

2. Coronary Artery Bypass Graft Market Segments

3. Coronary Artery Bypass Graft Market Size And Template Market Growth Rate

4. Key Coronary Artery Bypass Graft Market Trends

5. Major Coronary Artery Bypass Graft Market Drivers

……

25. Key Mergers And Acquisitions In The Coronary Artery Bypass Graft Market

26. Top Coronary Artery Bypass Graft Companies

27. Coronary Artery Bypass Graft Market Opportunities And Strategies

28. Coronary Artery Bypass Graft Market, Conclusions And Recommendations

29. Appendix

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