Endoscopic Retrograde Cholangiopancreatography (ERCP) Market Size, Share Global Analysis Report, 2022 – 2028

Industry Insights

[228+ Pages Report] According to the report published by Facts Factors,  the global Endoscopic Retrograde Cholangiopancreatography (ERCP) market size was worth around USD 1.4 billion in 2021 and is predicted to grow to around USD 2.5 billion by 2028 with a compound annual growth rate (CAGR) of roughly 8.5% between 2022 and 2028. The report analyzes the global Endoscopic Retrograde Cholangiopancreatography (ERCP) market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Endoscopic Retrograde Cholangiopancreatography (ERCP) market.

Market Overview

An endoscope is inserted into the second part of the duodenum during the combination fluoroscopic and endoscopic operation known as endoscopic retrograde cholangiopancreatography (ERCP). This allows other tools to be inserted into the biliary and pancreatic ducts through the crucial duodenal papilla. To detect and treat pancreaticobiliary diseases, ERCP devices combine luminal endoscopy and fluoroscopic imaging. These tools are inserted via the esophagus and the stomach into the stomach portion of the duodenum using a side-view duodenoscopy. Devices for endoscopic retrograde cholangiopancreatography (ERCP) are primarily used to treat blocked bile or pancreatic ducts or to extract samples of cells and tissues.

Key Insights

• As per the analysis shared by our research analyst, the global Endoscopic Retrograde Cholangiopancreatography (ERCP) market is estimated to grow annually at a CAGR of around 8.5% over the forecast period (2022-2028).
•  In terms of revenue, the global Endoscopic Retrograde Cholangiopancreatography (ERCP) market size was valued at around USD 1.4 billion in 2021 and is projected to reach USD 2.5 billion, by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
• Based on the product, the endoscopes segment held the largest market share in 2021.
• Based on end users, the hospitals & Clinics segment accounted for the major market share in 2021 and is expected to show its dominance during the forecast period.
• Based on region, North America is projected to dominate the market during the forecast period.

Covid-19 Impact

A worldwide emergency has been caused by the COVID-19 pandemic. The risk of COVID-19 infection is higher for surgeons and patients who visit hospitals for various procedures. The majority of gastrointestinal operations were stopped, which reduced the use of device-based therapies like ERCP. Major hospitals in Germany had to postpone 40 to 50 % of their endoscopic treatments. A study found that the COVID-19 pandemic dramatically decreased the number of ERCP procedures. Due to constraints on endoscopic treatments in the UK and elsewhere, the success rate also dropped. The ERCP market suffered as a result. Additionally, as endoscopy is regarded as an aerosol-generating operation, the danger of transmission to medical workers exists. However, to continue endoscopic treatments, the clinicians employ PPE kits and additional safety measures. Thus, the aforementioned facts negatively impacted the market growth during the COVID-19 period.

Growth Drivers

• Growing application of ERCP to drive the market growth during the forecast period

The procedure known as endoscopic retrograde cholangiopancreatography, or ERCP, is used to identify and address problems with the pancreas, liver, gallbladder, and bile ducts. Endoscopic retrograde cholangiopancreatography (ERCP) is a technique for diagnosing and treating disorders involving the pancreatobiliary system that combines luminal endoscopy and imaging based on fluoroscopy. It combines the use of an endoscope, a long, flexible tube with lighting, and X-ray technology. ERCP may be used to identify the source of undiagnosed stomach pain or skin and eye yellowing (jaundice). It can be used to find out additional information about pancreatitis or liver, pancreas, or bile duct cancer. Endoscopic Retrograde Cholangiopancreatography (ERCP) can also detect diseases including bile duct obstructions or stones, as well as liquid discharge from the bile or pancreatic ducts. Other disorders that might be found with an ERCP include tumors, obstructions or limitations of the pancreatic ducts, and contamination in the bile ducts and this is encouraging the endoscopic retrograde cholangiopancreatography market's expansion in the coming years.

Restraints

• The high cost of ERCP devices is projected to hamper the market growth

The high cost of ERCP equipment and procedures is one of the most important market restraints. A duodenoscope typically sells for between USD 31,500 (Non-HD) and USD 37,000. (HD). This is not desirable because of the expensive cost and the extended operation. Additionally, according to an interview with a market expert for ERCPs, one of the main barriers to the procedure's availability and affordability for many small-scale end users that serve sizable populations, particularly in developing nations, is its cost. Thus, the expensive ERCP devices might be hampering the market growth during the forecast period.

Opportunities

• The rising healthcare industry in developing economies is expected to provide an attractive opportunity

The increasing healthcare industry in developing economies is expected to provide an attractive opportunity for global endoscopic retrograde cholangiopancreatography (ERCP) market growth during the forecast period. India, China, Brazil, Russia, and South Africa are among the fastest-growing nations globally. For instance, according to the World Economic Forum, In 2021, emerging economies were responsible for around one-third of global healthcare spending. Because China and India have the largest populations in the world, these nations also have the most patients. Besides, key players in the endoscopy equipment market are encouraged to increase their presence in emerging nations by the rising incidence of cancer, quick advancements in healthcare infrastructure, the rapid expansion of medical tourism, and the presence of flexible regulation in these nations. In the Asia Pacific, the Middle East, and Latin America, several endoscopic equipment manufacturers are currently establishing their operations. Relevant like KARL STORZ have already established their manufacturing and R&D facilities in these nations. In the upcoming years, manufacturers will be forced to concentrate on emerging markets due to the saturation of the markets in developed regions like North America and Europe.

Segmentation Analysis

The global endoscopic retrograde cholangiopancreatography (ERCP) market is segmented based on product, application, end-user, and region.

Based on the product, the global market is bifurcated into endoscopes, endotherapy devices, visualization systems, energy devices, and others. The endoscopes segment is expected to grow at the highest CAGR during the forecast period. An endoscope is a type 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, which is accelerating the market's growth. In partnership with the Ministry of Internal Affairs and Communications, Olympus Corporation conducted research in October 2020 titled "Survey Study for International Expansion of AI Diagnosis Support System Using Ultra-High Magnifying Endoscopes in India" (MIC). The study aims to improve endoscopic diagnoses in India, a country with a dearth of endoscopists. Moreover, Olympus developed an AI diagnostic support system in collaboration with Cybernet Systems Co. Ltd. for the Asian Institute of Gastroenterology (AIG), a renowned medical facility in Hyderabad, India. The need for endoscopic equipment is also rising due to the elderly population's growing knowledge of minimally invasive procedures, the development of chronic diseases, and other factors. Thus, driving the segmental growth over the forecast period.

Based on end-users, the global market is divided into hospitals & clinics, ambulatory surgery centers, and others. The hospitals & clinics segment is projected to dominate the market during the forecast period. The growth in the segment is attributed to the increasing patient demand for hospital-based treatments utilizing sphincterotomes and for clinics to provide better preventive care and more advanced treatment choices. On the other hand, ambulatory surgery centers are expected to grow at the highest CAGR over the forecast period. The demand for endoscopic interventions or surgeries in ambulatory surgical centers, which may involve the application of sphincterotomes in conjunction with the minimized hospital stay resulting in reduced complete costs, is being supported by the shorter endoscopy time and the accelerated recovery time. This is further driving the demand for surgical procedures at ambulatory surgical centers.

Recent Developments:

• In February 2020, Olympus announced the launch of its StoneMasterV and VorticCatchV EndoTherapy devices, increasing efficiency in bile duct stone management and retrieval for endoscopic retrograde cholangiopancreatography (ERCP).
• In April 2022, Olympus entered into a strategic distribution agreement with EndoClot Plus. EndoClot Plus develops technologies in the hemostasis space, including the EndoClot PHS, a nonthermal, nontraumatic method for achieving hemostasis with GI bleeds designed to help gastroenterologists stop bleeding rapidly and reliably.

Report Scope

Regional Analysis

• North America is expected to dominate the market during the forecast period

North America is expected to dominate the global endoscopic retrograde cholangiopancreatography (ERCP) market during the forecast period. The growth in the region is attributed to the major investment in R&D, the existence of leading companies and the availability of their products, and the county's well-established healthcare infrastructure. However, it is projected that the market would be driven throughout the forecast period by the rising cancer prevalence and product releases by the major industry participants. For instance, according to the American Society of Clinical Oncology (ASCO), In the US, 28,480 women and 31,950 men will receive a pancreatic cancer diagnosis in September 2021. This disorder contributes to about 3% of all cancers. Pancreatic cancer is the tenth most common disease in males and the eighth most common cancer in women. About 1% more cases of pancreatic cancer are reported annually. Thus, owing to the aforementioned factors, the North American region of the market is expected to show considerable growth over the forecast period.

Competitive Analysis

• Olympus Corporation 
• CONMED Corporation 
• HOYA Corporation 
• Fujifilm Holdings Corporation 
• KARL STORZ SE & Co. KG 
• Ambu A/S 
• Johnson & Johnson 
• Boston Scientific Corporation 
• Medtronic PLC 
• Cook Medical 
• B. Braun Melsungen AG.

The global Endoscopic Retrograde Cholangiopancreatography (ERCP) market is segmented as follows:

By Product

• Endoscopes
• Endotherapy Devices
• Visualization Systems
• Energy Devices
• Others

By Application

• Biliary Sphincterotomy
• Biliary Stenting
• Biliary Dilatation
• Pancreatic Sphincterotomy
• Pancreatic Duct Stenting
• Pancreatic Duct Dilatation

By End User

• Hospitals & Clinics
• Ambulatory Surgery Centers
• Others

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America