Endoscopic Retrograde Cholangiopancreatography Market To Hit $2,557.7 Million by 2030, says P&S Intelligence

NEW YORK , June 14, 2022 /PRNewswire/ -- In 2021, the global endoscopic retrograde cholangiopancreatography market produced $1,270.9 million, which is on the path to hitting $2,557.7 million by 2030, witnessing a compound average growth rate of 8.1% between 2021 and 2030. This is owing to the paradigm shift toward less-invasive diagnostic techniques and growth in the incident of pancreatic cancer.

Furthermore, in certain countries, the presence of health coverage is fueling the market expansion. For example, in the U.S., an average endoscopy costs more than $3,000, but with health insurance, the cost may reduce by up to $1,500.

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North American Market Driven by Rising Prevalence of Pancreatic Cancer

The North American ERCP market generated $471.4 million revenue in 2021. Alcohol usage is increasing, which is contributing to the rising incidence of disorders including pancreatic adenocarcinoma and pancreatic neuroendocrine tumors. Furthermore, over 20% of the population of Canada lives with bile duct illnesses.

Additionally, the FDA's approval to numerous ERCP devices has accelerated the market expansion. For example, Ambu Inc. obtained the FDA certification for the Ambu aScope Duodeno, a sterile, single-use duodenoscope, in July 2020.

APAC Region Is Predicted To Grow at a Significant CAGR

During the projection period, the APAC endoscopic retrograde cholangiopancreatography market is predicted to advance at the highest CAGR, of 8.5%. This will be due to the rise in the patient knowledge of ERCP devices, as well as in the incidence of pancreatic cancer and GERD. Furthermore, the increasing number of awareness campaigns and government initiatives aimed at bile duct cancer, pancreatic diseases, and related issues are likely to drive ERCP device demand in the region. Furthermore, in 2021, China and Japan together accounted for almost 60% of the regional market revenue.

Browse detailed report on ERCP Market Evolving Technology and Growth Outlook 2022 to 2030

ERCP Market Segmentation Analysis

• In 2021, the endotherapy devices category accounted for around 40% share in the market. This was due to the rise in the demand for ERCP devices, as well as the high prevalence of pancreatitis, gallstones, choledocholithiasis, and pancreatic cancer.
• Due to the surge in the occurrence of chronic biliary and gastrointestinal illnesses, endoscopes accounted for over 30% share in 2021. Moreover, companies are working hard to introduce a variety of endoscopes, which is creating lucrative prospects for the field.
• In 2021, the biliary sphincterotomy category held a roughly 45% revenue share in the endoscopic retrograde cholangiopancreatography market. This is because ERCP devices are commonly used to treat bile blockage and bile duct stones and to perform cell sampling and stent implantation.
• The most-common end users of ERCP are hospitals and clinics, and this category is predicted to grow at a CAGR of roughly 8.3% in the future. This may be attributed to the rise in the count of trained and accredited endoscopists, including gastroenterologists and surgeons, as well as the growth in the number of hospitals.

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