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Endoscopic Retrograde Cholangiopancreatography Market size is forecast to reach $2.04 billion by 2025, growing at a CAGR of 5.21% during the forecast period 2020-2025. Endoscopic retrograde cholangiopancreatography (ERCP) is a technique that combines the use of endoscopy and fluoroscopy to diagnose and treat certain problems of the biliary or pancreatic ductal systems. It is primarily performed by highly skilled and specialty trained gastroenterologists. To perform ERCP, a side-viewing endoscope (duodenoscope) and fluoroscopy are required. Cannulation with a sphincterotome is preferred owing to the most cases of biliary tract infection require a sphincterotomy. Pouches in esophagus (esophageal diverticula) or duodenum sometimes makes the test difficult to do. ERCP is sometimes deployed for intestinal pseudo-obstruction and Ogilvie syndrome. Growing prevalence of gastrointestinal and chronic biliary diseases among the growing geriatric population, increasing demand for minimally invasive surgeries, and increasing frequencies of benign tumors of the liver and pancreas are driving the market growth in recent years. In addition, major product launches of key players like Boston Scientific are other factors driving the growth of the market.
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Product Type – Segment Analysis
Sphincterotome segment held the largest share in the product type segment of Endoscopic Retrograde Cholangiopancreatography Market in 2019 and is estimated to grow at a CAGR of 4.37% during the forecast period 2020-2025. In the recent years, hospitals have gained considerable purchase power and increased the use of ERCP. ERCP has revolutionized the diagnosis and therapy of biliary and pancreatic diseases. Sphincterotomy devices have been designed to improve access and therapy through the major or minor papilla. The advantage of this type of sphincterotome is the ability to maintain cannulation while the wire is being withdrawn during sphincterotomy. During the surgery for fissures, a small cut is made in the Sphincter Muscle to prevent spasms from occurring and promote better blood flow and healing. This increased blood flow allows the fissure to heal by itself, after Lateral Internal Sphincterotomy or fissure surgery. These advantages fuel the market growth. Cannulas is set to be the fastest growing segment and is estimated to register the highest CAGR during the forecast period 2020-2025, owing to their relative simplicity in operation and increasing investments in cannulas by key companies. ERCP is inherently a complex procedure, and a skilled assistant is needed to follow and execute the instructions of the endoscopist. This is particularly simpler in case of cannulas.
End Users – Segment Analysis
Hospitals segment holds the major share in the application type segment of Endoscopic Retrograde Cholangiopancreatography Market in 2019. Improving healthcare infrastructure in North America and Europe regions have helped in significant financial growth of hospitals. This has led to demand of treatment by patients in hospitals, which can aid the growth of the hospitals segment in this market. Clinics segment is forecast to grow at the fastest rate with the highest CAGR during the forecast period 2020-2025, owing to increasing facilities like preventive care and better treatments as well.
Geography – Segment Analysis
North America dominates the geography segment of Endoscopic Retrograde Cholangiopancreatography Market with a share of more than 42.2% in 2019, followed by Europe. Increased research in diagnostic imaging and pancreatic surgeries, development for technologically advanced ERCP devices in the market and increasing government investments for providing funds in healthcare have helped in the growth of Endoscopic Retrograde Cholangiopancreatography Market infrastructure. Europe held the second place in the geography segment share of the market, owing to increasing diseases of pancreas and presence of well-developed health centers in this region.
However, Asia-Pacific is estimated to grow at a higher CAGR during the forecast period 2020-2025. This is owing to growth of healthcare sector, increasing awareness about treatment of pancreatic and liver disorders, and increasing disposable income of the population.
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Drivers – Endoscopic Retrograde Cholangiopancreatography Market
Gastrointestinal diseases account for approximately 8 million deaths per year worldwide. In the USA, GI diseases affect 60–70 million citizens annually, 3 with the National Institutes of Health devoting up to $1.6 billion to GI research in 2015. On the other hand, incidence of primary biliary cholangitis (PBC) is 5.8-15 cases per 1 million population. A large surge in fatality rate has drawn the attention of the governments, and hence demand for treatment is set to increase in the forecast period 2020-2025.
Benign liver lesions are found in more than 20% of the general population, including haemangioma (4%), focal nodular hyperplasia (FNH, 0.4%) and hepatic adenomas (0.004%). On the other hand, it is estimated that 47,050 deaths (24,640 men and 22,410 women) from pancreatic tumor occurs every year. Pancreatic cancer is the ninth most common cancer in women and the tenth most common cancer in men. It is the fourth leading cause of cancer death in men and women. It accounts for 7% of all cancer deaths. As explained in the Introduction, most pancreatic cancers (93%) are exocrine adenocarcinoma; 7% are pancreatic neuroendocrine tumors. This has resulted in great awareness about the danger and hence, people opt for better treatment. As a result, the key medical organizations are set to invest more in Endoscopic Retrograde Cholangiopancreatography, and this is projected to drive the Infusion Market growth during the forecast period 2020-2025.
Challenges – Endoscopic Retrograde Cholangiopancreatography Market
For diagnostic ERCP, disposable equipment accounted for 27% of reimbursement; for therapeutic ERCP, disposable equipment accounted for 68% of reimbursement. Although overall reimbursement was higher for therapeutic ERCP, the very high direct costs related to disposable equipment limited the ability of reimbursement to cover indirect costs. Thus, it is anticipated to hamper the market growth during the forecast period 2020-2025.
Acquisitions/Product Launches
Key Takeaways
Endoscopic Retrograde Cholangiopancreatography Industry Outlook
Product launches, mergers and acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Endoscopic Retrograde Cholangiopancreatography Market. In 2019, Endoscopic Retrograde Cholangiopancreatography Market share is consolidated by the top players present in the market. Endoscopic Retrograde Cholangiopancreatography Market top 10 companies are B. Braun Melsungen Ag, Becton, Dickinson And Company, Boston Scientific Corporation, Conmed Corporation, Cook Group Incorporated, Ethicon Inc, Fujifilm Holding Corporation, Johnson & Johnson, Medtronic Plc and Olympus Surgical Technologies among others.
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