Biliary Sphincterotomy Retains 45% Share of Endoscopic Retrograde Cholangiopancreatography Market

(MENAFN- P&S Intelligence) In 2021, the endoscopic retrograde cholangiopancreatography market valued at $1,270.9 million, and it is expected to grow at a rate of 8.1% from 2021 to 2030, to hit the $2,557.7 million value by 2030. It is attributed to the growing prevalence of pancreatic disorders in the geriatric population and the increased adoption of minimally invasive procedures. The rise in medical reimbursements is also driving the market. For example, the average cost of an endoscopy procedure is more than $3,000 in the U.S., but due to health insurance, there can be a reduction of $1,500 in the cost.

The most-significant revenue generator in the endoscopic retrograde cholangiopancreatography market is endotherapy devices, holding 40% market share. It is ascribed to the growing prevalence of pancreatic disorders such as pancreatitis, gallbladder stones, pancreatic cancer and choledocholithiasis, resulting in rising demand for ERCP devices. According to American Health Organization, the number of people with pancreatic cancer is expected to rise to over 60,000 in 2022 in the U.S., with an estimated forecast of 50,000 deaths from it.

Under the end-user segment, hospitals and clinics contribute significantly to the endoscopic retrograde cholangiopancreatography market. It is attributed to the rise in hospitals with trained and certified endoscopy professionals such as surgeons and gastroenterologists, resulting in the mass interventions of endoscopic diagnosis performed in these facilities. The hospitals and clinics also offer surgical care, including diagnostic and preventive procedures, leading to the proliferation of the market.

North America contributed $471.4 million in revenue to the endoscopic retrograde cholangiopancreatography market last year, attributed to the growing prevalence of pancreatic cancer and the increase in number of deaths caused due to it in the region. Around 3% of deaths are caused due to pancreatic cancer every year in the U.S. The rise in alcohol consumption is also the leading cause of several pancreatic diseases such as PanNET and pancreatic adenocarcinoma.

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