October 07, 2022 18:23 ET | Source: Facts & Factors Facts & Factors
Miami, FL, Oct. 07, 2022 (GLOBE NEWSWIRE) -- According toFacts and Factors has published a new research report titled “Endoscopic Retrograde Cholangiopancreatography (ERCP) Market Size, Share, Growth Analysis Report By Product (Endoscopes, Endotherapy Devices, Visualization Systems, Energy Devices, and Others), By Application (Biliary Sphincterotomy, Biliary Stenting, Biliary Dilatation, Pancreatic Sphincterotomy, Pancreatic Duct Stenting, and Pancreatic Duct Dilatation), By End-User (Hospitals & Clinics, Ambulatory Surgery Centers and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.
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.
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.
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The high prevalence of chronic disorders like Crohn's disease, Barrett's disease, and pancreatic cancer around the world, together with government measures to raise patient knowledge of better and more cutting-edge therapies, are driving the global endoscopic retrograde cholangiopancreatography (ERCP) market's expansion.
The strict government regulations imposed by regulatory organizations in many countries for the introduction of new technologies are limiting the market's expansion. The market is benefiting from the rising disposable income, particularly in developing nations where consumers are becoming more aware of cutting-edge technology. The high expense of the treatment could be a barrier to the market's expansion.
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The global endoscopic retrograde cholangiopancreatography (ERCP) market is segmented based on product, application, end-user, and region.
The global market is divided into endoscopes, endotherapy devices, visualization systems, energy devices, and others based on the product. The market's largest contributor, the endoscopes segment, is expected to expand at a CAGR of 8.9% during the projected period. The market for endoscopic retrograde cholangiopancreatography devices for endoscopes is anticipated to grow significantly over the next few years as a result of an increase in gastrointestinal and chronic biliary problems. The World Health Organization estimates that gastrointestinal (GI) illnesses are responsible for about 8 million deaths each year. As a result, it is projected that there would be a rise in conditions linked to pancreatic cancer and the bile duct liver. Additionally, it opens up a huge window of opportunity for producers of endoscopic retrograde cholangiopancreatography devices to grow their brands internationally. In the upcoming years, it is also projected that rising health care costs and advantageous administrative rules will spur market expansion.
The global market is bifurcated into biliary sphincterotomy, biliary stenting, biliary dilatation, pancreatic sphincterotomy, pancreatic duct stenting, and pancreatic duct dilatation based on application. The market's largest contributor, biliary sphincterotomy, expanded at a CAGR of 8.1% over the projection period. After selective cannulation with a specialized tool called a sphincterotome introduced into the papilla, the biliary sphincter and the intraduodenal portion of the common bile duct are severed using a high-frequency current. Biliary sphincterotomy or biliary endoscopic sphincterotomy are the names of this surgery (EST).
Based on the end user, the global market is divided into hospitals & clinics, ambulatory surgery centers, and others. The market's largest contributor, the hospitals and clinics sector, is expected to rise at a CAGR of 7.8% during the projected period. Ambulatory surgery centers, or ASCs, are specialized medical facilities that give patients the choice to have surgeries and other treatments performed outside of a conventional hospital setting. Due to the high prevalence of pancreatic cancer, bile duct, and pancreatic duct illnesses, the segment for ambulatory surgical centers is anticipated to experience the highest growth during the projection period. These aspects are anticipated to encourage the ERCP market.
The global Endoscopic Retrograde Cholangiopancreatography (ERCP) market is segmented as follows:
Browse the full “Endoscopic Retrograde Cholangiopancreatography (ERCP) Market Size, Share, Growth Analysis Report - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” Report at https://www.fnfresearch.com/endoscopic-retrograde-cholangiopancreatography-ercp-market
The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards. Some of the main competitors dominating the global Endoscopic Retrograde Cholangiopancreatography (ERCP) market include -
Key Insights from Primary Research:
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In 2021, the global endoscopic retrograde cholangiopancreatography market in North America held the highest share, accounting for 35% of the global market. This region is expanding as a result of intensive diagnostic imaging research and the rapid introduction of technologically advanced ERCP tools like sphincterotomes. The expansion of the endoscopic retrograde cholangiopancreatography market in the North American area is further fueled by the increase in government funding for healthcare and the presence of major players like Hobbs Medical Inc.
Furthermore, it is predicted that over the projected period, the Asia-Pacific region will experience the fastest CAGR rate. The healthcare industry's development is a contributing factor to this rise. The development of the Endoscopic Retrograde Cholangiopancreatography Market in the Asia-Pacific region is further fueled by the rising awareness regarding the treatment of pancreatic and liver disorders involving sphincterotomy.
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