PharmiWeb.com - Global Pharma News & Resources
05-Nov-2024

Global Endoscopic Retrograde Cholangiopancreatography (ERCP) Devices Market Projected to Reach USD 3,000.2 Million by 2034

The global market for endoscopic retrograde cholangiopancreatography (ERCP) devices is set to experience significant growth over the next decade, with estimates predicting sales to increase from USD 1,628.6 million in 2024 to an impressive USD 3,000.2 million by 2034. This remarkable growth translates to a compound annual growth rate (CAGR) of 6.3% during the forecast period from 2024 to 2034.

In 2023, the ERCP device market generated a revenue of USD 1,532.1 million, reflecting a strong demand for innovative solutions in the diagnosis and treatment of gastrointestinal and pancreatic biliary disorders. As the prevalence of these conditions rises globally, the adoption of ERCP procedures is becoming increasingly vital.

ERCP combines fluoroscopy and endoscopy to effectively diagnose and treat a range of issues, including gallstones, bile duct obstructions, and pancreatic cancers. The integration of imaging and therapeutic capabilities makes ERCP devices indispensable in modern gastroenterology, enhancing patient outcomes and procedural efficiency.

The growing global burden of cancers and gallstones, alongside a shift toward minimally invasive approaches, are the primary drivers fueling the expansion of the ERCP device market. As healthcare providers seek more effective and less invasive solutions for their patients, the demand for ERCP devices is expected to surge.

With this upward trajectory, the ERCP device market not only presents significant opportunities for manufacturers and healthcare providers but also highlights the need for continued innovation and investment in advanced medical technologies.

Here Are Some Key Takeaways From The Data:

  • India and China are projected to have the highest growth rates among the countries listed, with CAGRs of 7.1% and 6.3%, respectively.
  • Germany and South Korea are expected to have moderate growth rates of 2.2% and 5.0%, respectively.
  • The United States is projected to have the lowest growth rate among the countries listed, with a CAGR of 2.0%.

Rising Demand for Market Data: Our Full Report Offers Deep Insights and Trend Analysis!

Competitive Landscape:

In the ERCP market, leading manufacturers are adopting various strategic initiatives to maintain their competitive edge. Significant investments are being directed toward research and development aimed at creating advanced materials and designs that improve the safety and efficacy of catheters. Additionally, companies are fostering new product development through joint ventures and the acquisition of smaller firms.

Recent Industry Developments in Endoscopic Retrograde Cholangiopancreatography (ERCP) Devices Market

  • On January 15, 2024, Canon Medical Systems Corporation and Olympus Corporation announced a collaboration focused on Endoscopic Ultrasound Systems. As part of this agreement, Canon Medical will develop and manufacture diagnostic ultrasound systems for Endoscopic Ultrasonography (EUS), while Olympus will oversee sales and marketing efforts.
  • On January 22, 2020, Boston Scientific Corporation announced that it successfully obtained CE Mark certification for the EXALT Model D Single-Use (disposable) Duodenoscope, which is specifically designed for endoscopic retrograde cholangiopancreatography (ERCP) procedures and is set for limited market release.

Key Players of Endoscopic Retrograde Cholangiopancreatography (ERCP) Devices Industry:

  • Olympus Corporation
  • Boston Scientific Corporation
  • CONMED Corporation
  • Cook Medical, Inc
  • Hobbs Medical
  • Merit Medical Systems
  • TeleMed Systems, Inc.
  • Fujifilm Holdings Corporation

Key Segments of Endoscopic Retrograde Cholangiopancreatography (ERCP) Devices Industry:

By Disease Indication:

In terms of disease indication, the industry is divided into Gastroesophageal Reflux Disease, GI Cancer, Barrett’s Esophagus, Bile Duct Diseases, Peptic Ulcer Disease, Crohn’s Disease, Intestinal Pseudo-Obstruction and Ogilvie Syndrome and other disease indications

By Product:

In terms of product, the industry is divided into sphincterotomes, lithotripter, endoscopes, accessories, stents, cannulas, forceps, snares, catheters, guiding wires, balloons, and others

By End User:

In terms of end user, the industry is segregated into hospitals, specialty clinics, diagnostic laboratories, and others

By Region:

Key countries of North America, Latin America, East Asia, South Asia & Pacific, Western Europe, Eastern Europe and Middle East and Africa (MEA) have been covered in the report.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: 
sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedInTwitterBlogs | YouTube

Editor Details

Last Updated: 05-Nov-2024