LONDON–The global coronary artery bypass grafts (CABG) market is expected to grow at a CAGR of close to 6% from 2017-2021, according to a new market research report by Technavio.
Global coronary artery bypass grafts market segmentation by application and product
Technavio’s report on the global coronary artery bypass grafts market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by application, including internal thoracic artery grafts and saphenous vein grafts. Internal thoracic artery (ITA grafts) are the most commonly used bypass grafts, and they show the best long-term results.
Based on product, the global CABG market has been segmented into off-pump CABG, on-pump CABG, and MI direct CABG. The minimally invasive (MI) direct CABG is expected to register the highest growth followed by off-pump CABG and on-pump CABG during the forecast period.
“The MI direct CABG market will grow at a rapid pace during the forecast period as MI CABG reduces the stay of patients in hospitals. Avoidance of a heart-lung machine and use of smaller incisions reduces the risk of complications such as stroke and renal failure. Moreover, smaller incisions also lead to lower possibility of infections. In addition, the procedure costs nearly 25% less than that of a conventional CABG,” says Neha Noopur, a lead analyst at Technavio for cardiovascular devices research.
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Coronary artery bypass grafts market: competitive vendor landscape
The global CABG market is concentrated with four major vendors namely Abbott, MAQUET, Medtronic, and Terumo Medical. The market is expected to witness constant growth during the forecast period as the large vendors are focusing on increasing their global footprint. They are expanding into developing countries by acquisitions or partnerships with regional players. Companies are also focusing on developing new and innovative products. In this context, smaller companies like LivaNova, Teleflex, and HeartWare are major competitors to large companies.
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Other topics covered in the report:
- Increasing prevalence of cardiac diseases
- Introduction of technologically advanced products
- Availability of alternate treatments
- Stringent regulations for product approval
- Rise in medical tourism
- Increased consolidation by vendors
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