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(Medical-NewsWire.com, July 25, 2022 ) The global endoscopic retrograde cholangiopancreatography market is projected to reach USD 2.0 billion by 2026 from USD 1.3 billion in 2021, at a CAGR of 9.6% during the forecast period, according to a new report by MarketsandMarkets™. The growth of this market is majorly attributed to factors such as the rising incidence of cancer, increasing investments by governments and healthcare organizations to improve endoscopy research, growing focus on investments by hospitals for advanced endoscopy instruments, and the increasing preference for minimally invasive surgeries. On the other hand, the high costs of endoscopic retrograde cholangiopancreatography devices, the development of other procedures like EUS and MRCP, and the shortage of trained physicians and endoscopists are factors expected to restrain the market growth to a certain extent.
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By product type segment, the endotherapy devices segment accounted for the largest market share during the forecast period.
Based on products, the endoscopic retrograde cholangiopancreatography market has been segmented into endoscopes, endotherapy devices, visualization systems, energy devices, and others. The factors attributing to the large revenue of the endotherapy devices segment include the growing preference for minimally invasive surgeries and the increasing prevalence of gastrointestinal conditions.
Sphincterotomes accounted for the largest market share in the conventional devices segment during the forecast period.
In the endotherapy devices segment, sphincterotomes accounted for the largest market share during the forecast period. This can be attributed to the increasing incidence of pancreatic duct and bile duct stones and the growing geriatric population leading to an increase in biliary disorders.
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North America dominates the endoscopic retrograde cholangiopancreatography market during the forecast period.
North America accounted for the largest share of the Endoscopic retrograde cholangiopancreatography market in 2020. The increasing prevalence of cancer, high investments by hospitals to purchase new ERCP equipment, and a strong focus on research activities to improve endoscopy techniques are the major factor contributing to this.
The major players in the global endoscopic retrograde cholangiopancreatography market include Olympus Corporation (Japan), CONMED Corporation (US), Fujifilm Holdings Corporation (Japan), HOYA Corporation (Japan), KARL STORZ SE & Co. KG (Germany), Ambu A/S (Denmark), Boston Scientific Corporation (US), Johnson & Johnson (US), Medtronic, PLC (Ireland), Cook Medical (US), and B. Braun Melsungen AG (Germany).
Other players in the market include Hobbs Medical, Inc. (US), STERIS PLC (US), Merit Medical Systems, Inc. (US), TeleMed Systems, Inc. (US), Changzhou Health Microport Medical Device Co., LTD. (China), Medi-Globe GmbH (Germany), Taewoong Medical Co., Ltd. (South Korea), Huger Medical Instrument Co., Ltd. (China), IntroMedic Co., Ltd. (Republic of Korea), SonoScape Medical Corporation (China), Shanghai AOHUA Photoelectricity Endoscope Co., Ltd. (China), Ottomed (India), Kimberly-Clark Corporation (US), and Shaili Endoscopy (India)
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Browse Adjacent Market: Medical Devices Market Research Reports & Consulting
Endoscopy Equipment Market by Product (Endoscope (Flexible, Rigid, Capsule, Robot-assisted, Disposable), Visualization Systems, Accessories), Application (GI Endoscopy, Laparoscopy, Bronchoscopy, Arthroscopy), End User - Global Forecast to 2026
Mr. Aashish Mehra