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The global coronary artery bypass graft devices market is expected to witness moderate growth during the forecast period between 2021 and 2031.
A coronary artery bypass graft is performed to remove blockages and obstacles that restrict blood flow. The procedure allows bypass for blood flow by grafting the blood vessel from the thigh.
Traditionally, a coronary artery bypass graft procedure has been performed in two ways, mainly: Off-pump coronary artery bypass grafts and on-pump coronary artery bypass grafts.
However, with passing time few other procedures such as minimally invasive direct coronary artery bypass grafts and endoscopic vein harvesting have emerged and given healthcare infrastructure personnel more options, based on the patient's condition.
Rising incidence of cardiovascular diseases globally is the key growth driver for the coronary artery bypass graft devices market.
In addition to this, growing number of endoscopic surgeries globally is anticipated to drive the demand for coronary artery bypass graft devices, in the coming years. Innovations to existing coronary artery bypass graft devices could propel the overall market, too.
Government initiatives and measures such as promotional activities could help in the growth of the coronary artery bypass graft devices market, in the years ahead.
Tissue stabilizer device segment is expected to make the largest contribution to the overall coronary artery bypass graft devices market due to the increased product deployment in coronary artery bypass graft procedures.
The hospital end-use segment is expected to contribute the most to the overall coronary artery bypass graft devices market in future owing to the rising incidence of cardiovascular diseases in countries globally.
The global coronary artery bypass graft devices market is extremely competitive, with the presence of several well-established players.
These players are expected to engage in different growth strategies such as novel product launches, which would help them gain a competitive edge over the other market players.
Prominent players in the coronary artery bypass graft devices market could also focus on research and development activities in a bid to produce improved quality of product, which could witness increased demand and help in the overall growth.
The smaller players in the coronary artery bypass graft devices market will seek support from governments and private investors, which could help them in their long-term growth.
A few leading players in the coronary artery bypass graft devices market include Boston Scientific, Sorin Group, Neograft, Edward Lifesciences, Novadaq Technologies Inc, and Medtronic.
The global coronary artery bypass graft devices market is classified into four regions, namely, North America, Europe, Asia Pacific, and the rest of the world.
North America is expected to provide profitable growth opportunities for the coronary artery bypass graft devices market, owing to the presence of high-quality healthcare infrastructure facilities in countries such as the U.S and Canada, contributing to the growth of the market in the region.
Europe is anticipated to witness substantial growth opportunities in the coronary artery bypass graft devices market owing to increased awareness about cardiovascular diseases in countries such as UK and Germany.
Asia Pacific is expected to witness strong growth in the coronary artery bypass graft devices market due to the presence of improved healthcare infrastructure facilities in countries such as Japan and China.
Leading players in the coronary artery bypass graft devices market could look to establish R&D centers in countries such as India, owing to the availability of key resources such as land and labor.
The rest of the world is expected to witness moderate growth in the coronary artery bypass graft devices market, in future.
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Coronary Artery Bypass Graft Devices Market
