PUBLISHER: Grand View Research | PRODUCT CODE: 1433667
PUBLISHER: Grand View Research | PRODUCT CODE: 1433667
The global coronary artery bypass graft market size is expected to reach USD 24.06 billion by 2030, registering a CAGR of 9.4% from 2024 to 2030, based on a new report by Grand View Research, Inc. The primary factor driving the industry is an increase in the prevalence of hypertension and cases of myocardial infarction. The American Heart Association estimated that in 2020, Coronary Heart Disease (CHD) was the leading cause of death in the U.S. In addition, the rising technological advancements have led to the development of endoscopic bypass surgery that offers various benefits compared to traditional bypass surgery. Such kind of advancements are contributing to the market growth. Furthermore, the rising geriatric population is influencing market growth.
The aged population is more prone to coronary artery blockages, and studies show that the average age of people undergoing Coronary Artery Bypass Graft (CABG) procedures is approximately older than 66 years. The COVID-19 pandemic had a negative impact on many industries and the CABG market was also highly affected. A study published by the University of Alabama at Birmingham shows an approximately 36% decline in patients undergoing bypass surgery. Many routine procedures were limited due to a workforce shortage. In addition, the supply of raw materials for the devices was limited in the initial phase of COVID-19. Thus, the above-mentioned factors lowered the manufacturing and production of devices.