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ERCP Market Size – USD 1.40 Billion in 2022, at a CAGR of 4.3%, Market Trends – Increasing investments in upgrading of healthcare facilities by the government Surge in procurement of endoscopy devices in healthcare facilities and rapid increase in popularity of Minimally Invasive Surgeries (MIS) are key factors driving market revenue growth” - Emergen Research
VANCOUVER, BC, CANADA, January 25, 2023 /einpresswire.com / -- A technique where the pancreatic duct, hepatic duct, common bile duct, duodenal papilla, and gallbladder are inspected and radiographed using an endoscope. An endoscope is a tiny, tube-shaped device containing a light and viewing lens. The endoscope is inserted into the first segment of the small intestine through the mouth (duodenum). The bile and pancreatic ducts are then reached through the endoscope with a smaller tube (catheter). Through the catheter, a dye is injected into the ducts, and an x-ray is then taken. Also known as ERCP.
The global endoscopic retrograde cholangiopancreatography (ercp) market size was USD 1.40 Billion in 2022 and is expected to register a rapid revenue CAGR of 4.3% during the forecast period, according to latest analysis by Emergen Research. Surge in procurement of endoscopy devices in healthcare facilities and rapid increase in popularity of minimally invasive surgeries are key factors driving market revenue growth.
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Increasing prevalence of gastrointestinal illnesses and other chronic conditions around the world, in addition to aging of population, are associated with rising demand for endoscopic procedures. According to World Health Organization (WHO), chronic diseases cause almost 35 million deaths worldwide and account for around 46% of all diseases and 59% of all deaths globally. Over time, according to national statistics, prevalence of liver illness has been rising gradually and liver illnesses are the sixth most common cause of death in the UK. In the U.S., liver illnesses are known to be the second-leading cause of mortality among all digestive diseases, which has led to a surge in procurement of endoscopy devices in healthcare facilities.
Global ERCP Market Highlights:
Regional demand estimation and forecast
Product Mix Matrix
Pre-commodity pricing volatility
Supply chain optimization analysis
Technological updates analysis
Raw Material Sourcing Strategy
Mergers & Acquisitions
Location Quotients Analysis
Carbon Footprint Analysis
In addition, rapid increase in popularity of minimally invasive surgeries has led to rising demand for ERCP procedures and hence driving revenue growth of the market considerably. ERCP is an invasive procedure, which allows radiological visualization by injecting a contrast agent into common bile duct and the main pancreatic duct. Moreover, this procedure helps to visualize the structure and pathological changes of biliary tree and pancreatic ducts in great detail. However, higher cost of ERCP devices, presence of alternative procedures such as Endosonography (EUS) and Magnetic Resonance Cholangiopancreatography (MRCP, and lack of skilled healthcare professional are hindering revenue growth of the ERCP market.
Some Key Highlights From the Report
The endoscopes segment is expected to register a rapid growth rate over the forecast period. This can be attributed to growing prevalence of gastrointestinal illnesses globally, which can surge the demand for endoscopes.
The pancreatic sphincterotomy segment is expected to register a rapid revenue growth rate over the forecast period. Pancreatic sphincterotomy is done to improve the drainage of fluids or remove stones in pancreatic ducts. Growing prevalence of various disorders associated with pancreas is expected to drive revenue growth of this segment.
The hospital segment accounted for largest revenue share in 2022 attributed to increase in government expenditure in form of grant or investment to improve healthcare facilities.
The North America market is expected to account for largest revenue over the forecast period. This can be attributed to presence of robust public and private healthcare insurance, which reimburses patients for ERCP procedures.
On 30 October 2020, Olympus Corporation, launched its StoneMasterV and VorticCatchV EndoTherapy devices, with an increased efficiency in bile duct stone management and retrieval for ERCP. Both StoneMasterV and VorticCatchV give doctors more chances to improve patient outcomes and procedure efficiency for removal of stones.
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Key Points Covered in This Section:
. Regional contribution
. Estimated revenue generation
. Vital data and information about the consumption rate in all the leading regional segments
. An expected rise in market share
. Forecast growth in the overall consumption rate
Emergen Research has segmented the global ERCP market based on product, procedure, end user, and region:
Product Outlook (Revenue, USD Billion; 2019-2032)
Procedure Outlook (Revenue, USD Billion; 2019-2032)
Pancreatic Duct Dilatation
Pancreatic Duct Stenting
End User Outlook (Revenue, USD Billion; 2019-2032)
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Regional Outlook (Revenue, USD Billion; 2019–2032)
Rest of Europe
Rest of APAC
Rest of LATAM
Middle East & Africa
Rest of Middle East & Africa
Besides offering a vivid depiction of the global ERCP business sphere and its fundamental operations, the latest report provides the industrial chain analysis and list down the current and future market trends and growth opportunities.
The report includes information on the present and historical market scenarios, which helps forecast the market conditions over the next eight years (2021-2030).
The report scrutinizes the salient factors influencing the growth of the market in the near future.
The strategic marketing recommendations, crucial information related to the new market entrants, and expansion plans of various businesses are poised to provide the reader with a competitive edge in the market.
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