Endoscopic Retrograde Cholangiopancreatography Market Analysis by Product (Endoscopes, Endotherapy Devices, Energy Devices); End User (Hospitals, Ambulatory Surgery Centers) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2035
Buy Now Report ID: 4859 | Published Date: Apr 28, 2023
Endoscopic Retrograde Cholangiopancreatography Market is estimated to garner a revenue of ~USD 9.89 billion by the end of 2035 by growing at a CAGR of ~12.60% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of ~USD 2.38 billion in the year 2023. The market growth is mainly owing to the increasing prevalence of pancreatic and biliary diseases, along with the growing geriatric population. According to the American Cancer Society, pancreatic cancer is the third leading cause of cancer-related deaths in the United States. It was noted that about 60,430 people were diagnosed with pancreatic cancer in the year 2021, and about 48,220 people died from the disease. Endoscopic Retrograde Cholangiopancreatography (ERCP) is a minimally invasive medical procedure used to diagnose and treat diseases of the bile and pancreatic ducts.
In addition to this, it involves the insertion of an endoscope through the mouth into the duodenum, where a catheter is then passed through the endoscope and into the bile or pancreatic ducts. ERCP is commonly used to treat conditions such as gallstones, pancreatitis, and biliary obstruction. The prevalence of gallstone disease is estimated to be around 10-15% in the United States, with a higher incidence in women, older adults, and people with obesity. Overall, the increasing prevalence of pancreatic and biliary diseases is contributing to the growth of the ERCP market as more patients require diagnostic and therapeutic procedures to manage their conditions. Technological advancements in ERCP devices and accessories are also estimated to contribute to the growth of the market over the forecast period.
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~12.60% |
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Base Year Market Size (2023) |
~ USD 2.38 Billion |
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Forecast Year Market Size (2035) |
~ USD 9.89 Billion |
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Regional Scope |
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Growth Drivers
Challenges
Global Endoscopic Retrograde Cholangiopancreatography Market Segmentation
The global ERCP market is segmented and analyzed for demand and supply by end user into hospitals, ambulatory surgery centers, and others. Out of the three types of applications, the hospitals segment is estimated to gain the largest market share of about ~35% in the year 2035. The growth of the segment can be accredited to the large number of patients requiring treatment for pancreatic conditions. The hospitals are also growing rapidly in number, which is estimated to positively influence segmental growth. For instance, by the year 2022, there were noted to be approximately 6,100 hospitals in the United States. Hospitals provide a wide range of medical care. Physicians, called hospital doctors, typically specialize in internal medicine, pediatrics, or general practice. They have the knowledge to solve common problems and the resources to solve more complex medical problems. Hospitals may also offer specialized care, such as neurology, obstetrics and gynecology, and oncology. By definition of a hospital, a county hospital is typically a primary medical facility in a region with numerous intensive care and mobile beds for patients requiring long-term care.
The global endoscopic retrograde cholangiopancreatography market is also segmented and analyzed for demand and supply by product into endoscopes, endotherapy devices, and energy devices. Amongst these three segments, the endoscopes segment is expected to garner a significant share of around ~30% in the year 2035. The growth of the segment can be accredited to technological advancements. Endoscope manufacturers are investing heavily in research and development to develop technologically advanced endoscopes that offer better imaging quality, increased durability, and improved patient comfort. This is expected to drive demand for endoscopes in the ERCP market. Endoscopes are essential for minimally invasive procedures such as ERCP, which offer several advantages over traditional open surgeries, including shorter hospital stays, reduced pain and scarring, and faster recovery times. The increasing demand for minimally invasive procedures is expected to drive the growth of the endoscopes segment. Gastrointestinal diseases, including pancreatic and biliary diseases, are becoming increasingly prevalent worldwide. Endoscopes are essential for diagnosing and treating these diseases, and as the incidence of gastrointestinal diseases continues to rise, the demand for endoscopes is expected to increase.
Our in-depth analysis of the global endoscopic retrograde cholangiopancreatography market includes the following segments:
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By End User |
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By Product |
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The endoscopic retrograde cholangiopancreatography in the Asia Pacific region, amongst the market in all the other regions, is projected to hold the largest market share of about ~35% by the end of 2035. The regional growth can majorly be attributed to the increasing prevalence of pancreatic and biliary diseases. The incidence of pancreatic and biliary diseases is rising in the Asia Pacific region due to factors such as changes in dietary habits, lifestyle factors, and aging populations. Several key players in the market are increasing their focus on research and development in the Asia Pacific region to expand their product portfolio and strengthen their market position. For instance, in 2019, Olympus Corporation announced the opening of a new R&D center in India to develop innovative endoscopic technologies for the Asia Pacific market. This is expected to drive innovation and growth in the market in the region. The geriatric population is increasing in the Asia Pacific region, and this population is more susceptible to pancreatic and biliary diseases. Increasing awareness about gastrointestinal diseases and the availability of advanced diagnostic and therapeutic options is expected to drive the demand for ERCP procedures in the Asia Pacific region.
The endoscopic retrograde cholangiopancreatography in the North American region, amongst the market in all the other regions, is projected to hold the second largest share of about ~24% during the forecast period. The growth of the market in this region can primarily be attributed to technological advancements. The North American market is at the forefront of technological advancements in the ERCP market. Key players in the market are investing heavily in research and development to develop advanced endoscopes, imaging technologies, and therapeutic devices, which are expected to drive the growth of the market. The market in North America benefits from favorable reimbursement policies, which encourage the adoption of advanced medical technologies. For instance, the Centers for Medicare and Medicaid Services (CMS) in the US provide reimbursement for ERCP procedures, which is expected to drive the growth of the market. The geriatric population in North America is increasing, and this population is more susceptible to pancreatic and biliary diseases. Overall, the technological advancements, high incidence of pancreatic and biliary diseases, favorable reimbursement policies, increasing healthcare expenditure, and growing geriatric population are expected to drive the growth of the market in the North America region.
Further, the endoscopic retrograde cholangiopancreatography in the Europe region, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to the increasing awareness about gastrointestinal diseases. The awareness about gastrointestinal diseases and the availability of advanced diagnostic and therapeutic options is increasing in Europe. This is expected to drive the demand for ERCP procedures in the region. For instance, the European Society of Gastrointestinal Endoscopy is actively involved in promoting awareness about gastrointestinal diseases and endoscopic procedures. The ERCP market in Europe benefits from favorable reimbursement policies, which encourage the adoption of advanced medical technologies. The availability of government and private insurance policies for medical procedures is expected to drive the growth of the market. The geriatric population in Europe is growing, and this population is more susceptible to pancreatic and biliary diseases. Overall, the increasing prevalence of pancreatic and biliary diseases, advancements in technology, increasing awareness about gastrointestinal diseases, favorable reimbursement policies, and growing geriatric population are expected to drive the growth of the market in Europe.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Radhika Gupta, Shivam Bhutani
Ans: Increasing prevalence of pancreatic and biliary diseases, along with the growing geriatric population are the major factors driving the market growth.
Ans: The market size of endoscopic retrograde cholangiopancreatography is anticipated to attain a CAGR of ~12.60% over the forecast period, i.e., 2023 – 2035.
Ans: The lack of skilled healthcare professionals is estimated to be the growth hindering factor for the market expansion.
Ans: The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Ans: The major players in the market are Fujifilm Holdings Corporation, ERBE Elektromedizin GmbH, Steris plc, Karl Storz GmbH & Co. KG, Ethicon Endo-Surgery, Inc., and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by product, end-user, and by region.
Ans: The hospital segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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