Endoscopic Retrograde Cholangiopancreatography Market Size to Hit USD 2,892.49 Million by 2030 at 9.8% CAGR – Report by Market Research Future (MRFR)

New York, USA, Jan. 09, 2023 (GLOBE NEWSWIRE) — Endoscopic Retrograde Cholangiopancreatography Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), “Endoscopic Retrograde Cholangiopancreatography Market Information By Application, Product, Procedure, End User, And Region – Forecast till 2030“, the market size is expected to reach USD 2,892.49 million by 2030 at 9.8% CAGR during the forecast period (2022 – 2030).

Market Synopsis

Endoscopy is a medical procedure used to do small surgery or closely examine bodily tissue or internal organs. Devices for endoscopic retrograde cholangiopancreatography are medical tools for the pancreas and biliary system conditions. Due to an increase in the prevalence of numerous bile duct, pancreatic, and liver problems such as Barrett’s disease, biliary disease, colitis, and Crohn’s disease, to mention a few, these devices are becoming more and more important and widely used. An endoscope is a piece of medical equipment with a light. It is utilized to look within an organ or cavity of the body. While a sigmoidoscopy scope is put through the rectum, a bronchoscopy scope is inserted through the mouth.

Any endoscope can be used during an endoscopy or medical treatment. More people are having endoscopy procedures for treatment and diagnosis, and technological advancements are producing more sophisticated applications, accelerating the market’s growth. It aids in the early detection of pancreatic duct fluid leakage and bile duct obstructions, stones, infections, and malignancies. In addition, it offers more thorough and accurate information on the pancreaticobiliary system and is less intrusive than open surgery. As a result, there is a rising need for endotherapy equipment everywhere in the world to research symptoms like weight loss, dysphagia, diarrhea, heartburn, and blood in the stool.

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Report Scope:

Endoscopic Retrograde Cholangiopancreatography Market Competitive Landscape:

The essential competitors in the endoscopic retrograde cholangiopancreatography market are:

• Boston Scientific Corporation (US)
• CONMED Corporation (US)
• HOYA Group (Japan)
• Olympus Corporation (Japan)
• Fujifilm Holdings Corporation (Japan)
• STERIS PLC (UK)
• Cook Medical (US)
• Q3 Medical Devices Limited (Ireland)
• Ambu Inc. (Denmark)
• Medtronic Plc (Ireland)

Endoscopic Retrograde Cholangiopancreatography Market Dynamics:

Market Drivers:

The increase in gastrointestinal and chronic biliary disorders like Barrett’s disease, colitis, gastroesophageal reflux disorder, Crohn’s disease, biliary disease, liver disease, pancreatitis, inflammatory bowel disease, and peptic ulcer disease is a major factor driving the growth of the global endoscopic retrograde cholangiopancreatography (ERCP) market. Along with this, there is a rapid rise in the frequency of benign tumors of the pancreas and liver, an aging population, and increased public awareness of the ERCP devices used to treat illnesses. Additionally, increasing government and healthcare organization investments in cutting-edge endoscopic equipment and better endoscopy research are boosting the market’s expansion.

Globally prevalent chronic diseases like  Crohn’s, Barrett’s, and pancreatic cancer, together with government initiatives to increase patient awareness of better and more advanced treatments, are propelling the market’s growth. Increased disposable money is helping the market, especially in emerging countries where people are increasingly aware of cutting-edge technology.

Market Restraints:

Endoscopic retrograde cholangiopancreatography market expansion is anticipated to be constrained by high treatment costs associated with ERCP and adverse consequences, including post-ERCP pancreatitis.

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COVID 19 Analysis

The COVID-19 outbreak on a global level has greatly disrupted endoscopic services. Furthermore, the disease is spread through contact and droplets. Endoscopy healthcare professionals are at especially high risk during the outbreak since the propagation of the disease is predominantly through direct touch or aerosol particles, and endoscopic procedures demand close physical interaction between patients and personnel. Recently, many have indicated an interest in minimally invasive procedures rather than traditional open surgeries, which necessitate deep muscle incisions.

These muscles require a very long time to heal. Because video-assisted equipment produces a magnified image of the organs or body parts being worked on, minimally invasive surgeries (MIS) provide several advantages over traditional open procedures, including increased precision. Other important advantages include fewer post-op infections, lower incidence, less major bleeding, shorter length of stay, speedier return to normal activities, less scarring, and similar or lower cost. It underlined the significance of adhering to personal protective equipment, infection control procedures, and stringent isolation practices (PPE). Therefore, the COVID-19 pandemic has had a detrimental effect on the market for endoscopic retrograde cholangiopancreatography.

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Endoscopic Retrograde Cholangiopancreatography Market Segmentation

By end user, the market includes hospitals & clinics and ambulatory surgical centers.

By procedure, the market includes biliary sphincterotomy, biliary stenting, biliary dilatation, and pancreatic duct stenting.

By product, the market includes endoscopes, endotherapy devices, imaging systems, and energy devices.

By application, the market includes the bile duct and pancreas. 

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Endoscopic Retrograde Cholangiopancreatography Market Regional Insights

North America is anticipated to experience the greatest growth during the projection period. This is brought on by several elements, including regional market participants’ growth strategies and the increased incidence of liver and biliary intrahepatic cancer. Additionally, primary liver cancer and the intrahepatic bile duct are predicted to cause about 30,520 deaths in 2022. Additionally, businesses introduce new products to diversify their product lines and meet the needs of customers around the world.

Germany now controls most of the European market for endoscopic retrograde cholangiopancreatography devices since there are unexplored markets for ERCP products there and pancreatic cancers are more common there. In addition, Japan is leading the Asia-Pacific region’s market for endoscopic retrograde cholangiopancreatography equipment because of the rising demand for and knowledge of cutting-edge medical procedures.

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