CORONARY ARTERY BYPASS GRAFTING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Coronary Artery Bypass Grafting Market Size and Trends

Global coronary artery bypass grafting market is estimated to be valued at USD 14.02 Bn in 2024 and is expected to reach USD 26.15 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 9.3% from 2024 to 2031.

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Rising burden of cardiovascular diseases and increasing adoption of minimally invasive procedures can boost demand for coronary artery bypass grafting. Moreover, growing geriatric population prone to chronic heart conditions and advancements in bypass grafting technologies can drive the market growth. However, high treatment costs associated with CABG and availability of alternative treatment options can hamper the market growth during the forecast period.

Rising prevalence of cardiovascular diseases

Rising prevalence of cardiovascular diseases across the world can drive the global coronary artery bypass grafting market growth. Coronary artery disease is one of the leading causes of mortality and morbidity globally. It has been estimated that over 17 million people die annually from cardiovascular diseases. The major risks factors for coronary artery disease include diabetes, tobacco use, unhealthy diet, physical inactivity, excessive alcohol consumption and obesity. Many countries around the world are witnessing increase in prevalence of these risk factors in their populations due  to rapid urbanization, aging populations and changes in lifestyle habits. For example, according to the data from World Health Organization, over 1.9 billion adults aged 18 years and older were overweight in 2016, out of which, over 650 million adults were obese. Furthermore, the number of diabetics worldwide had increased from 108 million in 1980 to 422 million in 2014. Unless effective preventive measures are taken, these factors will boost rates of cardiovascular diseases.  Coronary artery bypass grafting is one of the main surgical procedures in the management of coronary artery disease, and this is expected to drive the market growth.

Improving reimbursement scenario for CABG procedures

Growing medical reimbursement and insurance coverage for cardiovascular procedures like coronary artery bypass grafting can drive the market growth. Traditionally, exorbitant costs of cardiac surgery made it unaffordable for many people. However, favorable medical reimbursement policies introduced by public and private payers are enhancing the accessibility of CABG. For example, government-sponsored insurance schemes in many countries now cover CABG procedures, subject to certain conditions. Private medical insurers are also expanding insurance plans that offer CABG coverage. Such third-party coverage has resulted in more patients opting for the procedure who otherwise would hesitate due to financial constraints. Cardiac societies and advocacy groups too are lobbying for higher reimbursements from insurance firms. Growing reimbursement rates are encouraging more healthcare providers to offer CABG services, thus, widening treatment availability. Reimbursements are also supporting investments in advanced technologies and infrastructure expansion by CABG service providers.