The global endoscopic retrograde cholangiopancreatography market is projected to generate $2,557.7 million revenue by 2030, advancing at a CAGR of 8.1% during 2021–2030. This will be on account of the rise in incidences of GI and chronic biliary disorders such as Barrett’s disease, colitis, biliary disease, GERD, Crohn’s disease, pancreatitis, liver disease, peptic ulcer disease, and IBD.
The snowballing frequencies of liver and pancreas tumors coupled with the growing aging population and surging awareness about ERCP devices for the treatment of the above-mentioned disorders drive the market growth. Moreover, in the developed regions like North America and Europe, more than 80% of the people are prone to the bile duct and pancreatic disorders like gallstones and cholesterol stones; and around 20 million people in the U.S. are suffering from gallstones. Therefore, the rising use of hepatoportoenterostomy surgery to drain bile from the liver due to gallstone blockage intensifies the demand for ERCP devices.
The market is experiencing a rapid and continuous increase in the need for devices for diagnosing, due to the rise in the prevalence of comorbidities adenomas, hemangiomas, focal nodular hyperplasia (FNH), pancreatic adenocarcinoma, ampullary cancer, adenosquamous carcinomas, and pancreatic cysts. An increase in the number of disorders related to pancreatic, liver, and bile ducts leads to a surge in awareness of ERCP devices. This provides several growth opportunities to market players.
The endotherapy devices category held the largest revenue share, of around 40%, in 2021 in the endoscopic retrograde cholangiopancreatography market. Amongst the endotherapy devices, the demand for sphincterotomes is expected to witness the highest CAGR, of around 9.2%, during the forecast period. This can be ascribed to the growing prevalence of bile duct, pancreatic duct stones, and anal fissure. For instance, more than 200,000 anal fissure incidents in the U.S. are reported every year, due to which around 150,000 patients have to undergo biliary sphincterotomy.
The APAC market is expected to register the fastest growth, advancing at a CAGR of 8.5%, during 2021–2030. This can be attributed to the increasing patient awareness regarding ERCP devices and the rising incidence of GI-related cancers in the region. For instance, as per a government organization, there were around 300,000 GI-related cancer deaths in China in 2021, which constitutes more than 13% of all the cancer-related deaths in the country.
Companies operating in the market have been involved in acquisitions to remain competitive. For instance, in March 2021, Fujifilm Holdings Corporation announced the acquisition of the diagnostic imaging-related business of Hitachi Ltd., to strengthen its healthcare business.
The key players operating in the endoscopic retrograde cholangiopancreatography market are CONMED Corporation, Olympus Corporation, Fujifilm Holdings Corporation, HOYA Corporation, KARL STORZ SE & Co. KG, Ambu A/S, Boston Scientific Corporation, Medtronic Private Limited, Johnson & Johnson Private Limited, Cook Group Incorporated, and B. Braun Melsungen AG.