PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1070380
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1070380
The global endoscopic retrograde cholangiopancreatography market was worth USD 1,360.5 million in 2020, and is expected to grow at a CAGR of 6.2% during the study period.
Endoscopic retrograde cholangiopancreatography is a radiologic imaging procedure used to treat biliary diseases that combines endoscopy and fluoroscopy. This technique is mostly used to diagnose diseases involving the pancreatic ductal systems.
Market Dynamics
The global endoscopic retrograde cholangiopancreatography market is being driven by an increase in the incidences of gastrointestinal and chronic biliary disorders, an increase in the demand for minimally invasive surgeries, and an increase in the frequency of benign tumors of the liver and pancreas. Gastrointestinal (GI) illnesses affect several portions of the GI tract as well as digestive organs such as the liver, pancreas, and gallbladder. GI illnesses affect millions of individuals and are a major cause of morbidity and mortality worldwide. For example, according to the International Foundation for Gastrointestinal Disorders Report issued in 2019, GERD affects around one-third of the overall population, causing bleeding difficulties which are fueling the global market's growth. GI illnesses affect 60-70 million Americans each year, with the National Institutes of Health allocating up to USD 1.6 billion to GI research in 2017. In contrast, the incidence of primary biliary cholangitis (PBC) is 5-15 cases per million people. A significant increase in mortality rates has grabbed the attention of governments, and hence the need for treatment is expected to rise in the predicted period.
Pancreatic cancer is the ninth most prevalent cancer in women and the tenth most common cancer in males, according to the American Cancer Society. It is the fourth-largest cause of death from cancer in both men and women. It is responsible for 7% of all cancer fatalities. The vast majority of pancreatic malignancies (93%) are exocrine adenocarcinomas, with only 7% being pancreatic neuroendocrine tumors. As a result, individuals are more aware of the danger, and they seek better care. As a result, prominent medical organizations are expected to increase their investments in endoscopic retrograde cholangiopancreatography, which is expected to fuel market growth throughout the forecast period.
Segmentation Analysis:
The endoscopic Retrograde Cholangiopancreatography (ERCP) Market is segmented on the basis of product type, application, end-user, and region.
On the basis of types, the market is divided into several categories, including Endoscopes, Endotherapy Devices, Stents, Spincterotome, Snares, Lithotripter, Forceps, Cannulas, Guiding Wires, Catheters, Baskets, Balloons, among others.
Endotherapy devices held the largest share in 2019 and are expected to maintain their dominance during the forecast period, owing to an increase in demand for ERCP therapeutic procedures and an increase in the prevalence of choledocholithiasis, gallbladder stones, pancreatitis, and other bile duct & pancreatic duct diseases. Furthermore, in terms of Endotherapy devices, the stents and sphincterotome sectors accounted for the biggest market in 2019 and are expected to increase at a CAGR of 3.7 percent and 3.8 percent, respectively, over the projected period.
Depending upon the application, the worldwide market is divided into Biliary Dilatation, Biliary Sphincterotomy, Pancreatic Sphincterotomy, Biliary Stenting, Pancreatic Duct Stenting, and Pancreatic Duct Dilatation.
The biliary sphincterotomy segment accounted for the biggest share in 2019, accounting for more than two-fifths of the worldwide endoscopic retrograde cholangiopancreatography market, and is expected to continue its lead position during the forecast period. The pancreatic sphincterotomy category, on the other hand, is predicted to grow at the fastest rate of 7.6 percent between 2020 and 2027.
The endoscopic Retrograde Cholangiopancreatography Market based on end-user can be further segmented into Hospitals and Clinics, Ambulatory Surgical Centers, Laboratories, and Others. In 2021, the Hospitals and Clinics sector held the greatest market share. This expansion is due to the rapid development of healthcare infrastructure in the North American and European regions, which has aided in the financial development of hospitals. Patients' increasing need for treatment in hospitals including devices such as sphincterotomes, as well as improved preventative care and enhanced treatment alternatives in clinics, is boosting the expansion of this category even further.
Competitive Landscape:
The global endoscopic retrograde cholangiopancreatography market is extremely competitive, with both local and global players present. The key players are pursuing various growth strategies, such as product launches, acquisitions, and partnerships, which are contributing to the market's global expansion.
For instance, In January 2022, Cook Medical (US) introduced the Instinct Plus endoscopic clipping device which is compatible with a duodenoscope and offers applications for defect closure, anchoring treatments, and preventative clipping in the gastrointestinal (GI) tract.
Key features of the study:
This proposed research study on Endoscopic Retrograde Cholangiopancreatography (ERCP) Market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2021-2027), considering 2020 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Endoscopic Retrograde Cholangiopancreatography (ERCP) Market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Endoscopic Retrograde Cholangiopancreatography (ERCP) Market
Impact of COVID-19 on Endoscopic Retrograde Cholangiopancreatography (ERCP) Market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Endoscopic Retrograde Cholangiopancreatography (ERCP) Market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the Endoscopic Retrograde Cholangiopancreatography (ERCP) Market, we have also included competitive landscape and key innovator analysis for the Endoscopic Retrograde Cholangiopancreatography (ERCP) Market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the Endoscopic Retrograde Cholangiopancreatography (ERCP) Market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
The global Endoscopic Retrograde Cholangiopancreatography (ERCP) Market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL ENDOSCOPIC RETROGRADE CHOLANGIOPANCREATOGRAPHY (ERCP) MARKET KEY PLAYEARS
Olympus Corporation,
Conmed Corporation,
Hobbs Medical, Inc.
TeleMed Systems, Inc.
Boston Scientific Corporation
Cook Group incorporation
Fujifilm holdings Corporation
Becton, Dickinson and Company
Medtronic, Plc.
Ambu Inc.
GLOBAL ENDOSCOPIC RETROGRADE CHOLANGIOPANCREATOGRAPHY (ERCP) MARKET, BY PRODUCT TYPE
Endoscopes
Endotherapy Devices
Spincterotome
Lithotripter
Stents
Cannulas
Forceps
Snares
Catheters
Guiding Wires
Balloons
Baskets
Others
GLOBAL ENDOSCOPIC RETROGRADE CHOLANGIOPANCREATOGRAPHY (ERCP) MARKET, BY APPLICATION
Biliary Sphincterotomy
Biliary Dilatation
Biliary Stenting
Pancreatic Sphincterotomy
Pancreatic Duct Dilatation
Pancreatic Duct Stenting
GLOBAL ENDOSCOPIC RETROGRADE CHOLANGIOPANCREATOGRAPHY (ERCP) MARKET, BY END-USER
Hospitals and Clinics
Ambulatory Surgical Centers
Laboratories
Others
GLOBAL ENDOSCOPIC RETROGRADE CHOLANGIOPANCREATOGRAPHY (ERCP) MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Singapore
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Rest of MEA