Endoscopic Retrograde Cholangiopancreatography Market Expected to Reach $1,876.75 Million by 2027

According to a new report published by Allied Market Research, titled, “Endoscopic Retrograde Cholangiopancreatography Market by product type, application, end user, and: Opportunity Analysis and Industry Forecast, 2019-2027,” the global endoscopic retrograde cholangiopancreatography (ERCP) market was valued at $1,212.94 million in 2019, and is projected to reach $1,876.75 million by 2027, registering a CAGR of 5.6% from 2019 to 2027. The endoscopes segment accounted around one-third of the total market share in 2019.

ERCP is a procedure that combines upper GI endoscopy with X-rays for the treatment of pancreatic and bile ducts disorders. Pancreatic ducts are the tubes that carry pancreatic juice from pancreas to the duodenum. Bile ducts are the tubes that carry bile from liver to gallbladder and duodenum. Healthcare professionals perform ERCP procedure when bile or pancreatic ducts have become narrowed or blocked because of gallstones, infection, acute pancreatitis, chronic pancreatitis, pancreatic pseudocysts, cancers of the bile ducts and pancreas, and others.

The major reason for decline in ERCP procedures during the COVID-19 pandemic was the decrease in patient volume in hospitals, owing to rescheduling and delaying of procedures for safety reasons. Moreover, these delays happened after careful review of patient history and if feasible, healthcare providers rescheduled endoscopic procedures to minimize the risk of getting exposed to COVID-19 during hospital visits. Furthermore, regions that are severely affected by COVID-19, have reduced endoscopy procedures, owing to new government directives or hospital guidelines.

Rise in incidences of gastrointestinal and chronic biliary disorders and increase in frequencies of benign tumors of the liver and pancreas primarily drive the growth of the endoscopic retrograde cholangiopancreatography market. In addition, increase in ageing population is further expected to boost the market growth. However, high costs associated with treatment from ERCP devices and side-effects of the procedure such as post-ERCP pancreatitis hinder the market growth. Conversely, rise in awareness and high market potential in untapped emerging economies are expected to provide lucrative growth opportunities for the market growth.

By product type, the endotherapy devices segment held the largest share in 2019 and is anticipated to maintain its dominance during the forecast period, owing to increase in demand for ERCP therapeutics procedures, and rise in prevalence of choledocholithiasis, gallbladder stones, pancreatitis, and other bile duct & pancreatic duct diseases. Further, by endotherapy devices, the stents and sphincterotome segments held the largest share in 2019 and is estimated to grow at a CAGR of 3.7% and 3.8% respectively during the forecast period

North America accounted for the largest share in 2019, and is anticipated to maintain its dominance from 2019 to 2027, due to high expenditure on R&D, presence of major players & their product availability, and well-established healthcare infrastructure in the region. However, Asia-Pacific is expected to register the highest CAGR during the forecast period, as Governments of Asian countries are investing in the development of healthcare infrastructure.

The endoscopic retrograde cholangiopancreatography market is segmented on the basis of product type, into endoscopes, endotherapy devices, imaging systems, energy devices, and others. Further, endotherapy devices is divided into sphincterotome, lithotripter, stents, cannulas, forceps, snares, catheters, guiding wires, balloons, baskets, and others. By application, it is divided into biliary sphincterotomy, biliary dilatation, biliary stenting, pancreatic sphincterotomy, pancreatic duct dilatation, and pancreatic duct stenting. By end user, it is segregated into hospitals & clinics, ambulatory surgery centers, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The report provides some of the key players operating in the endoscopic retrograde cholangiopancreatography market include Olympus Corporation, Conmed Corporation, Hobbs Medical, Inc., TeleMed Systems, Inc., Boston Scientific Corporation, Cook Group Incorporation, Ambu, Inc., Becton, Dickinson and Company, Fujifilm Holding Corporation, and Medtronic Plc. The other players (not profiled in the report) in the value chain include Jiangsu ATE Medical Technology Co, Ltd., Johnson & Johnson Services, Changzhou Health Microport Medical Device Co, Ltd., Merit Medical System, Inc., Karl Storz., and among others.

Key Findings Of The Study

• By product type, the endoscope segment occupied second largest share of the global endoscopic retrograde cholangiopancreatography market in 2019.
• By endotherapy devices, the forceps segment is anticipated to grow with the highest CAGR throughout the forecast period.
• By end user, the hospitals and clinics segment hold the largest share in 2019 and is anticipated to maintain its dominance throughout the forecast period.
• By application, the biliary sphincterotomy segment contributes the highest revenue in 2019 in the endoscopic retrograde cholangiopancreatography market.
• By region, the Asia-Pacific endoscopic retrograde cholangiopancreatography market is anticipated to experience 7.0% CAGR during the forecast period.