The growth of endoscopic retrograde cholangiopancreatography 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.
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.
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Market
Segmentation :-
The endoscopic
retrograde cholangiopancreatography market has been segmented on the basis of product,
procedure, end user, and region. 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.
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.
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Regional
Analysis:-
The
Asia Pacific and Latin American markets are projected to grow at the highest
CAGR during the forecast period. The high growth in these regional markets can
be attributed to the growing number of hospitals, improving healthcare
infrastructure, rising healthcare expenditure, the growing patient population,
surging demand for minimally invasive surgeries, and favorable government
policies single-use endoscopy devices. Additionally, governments in several
Latin American countries focus on improving their respective healthcare
systems. The healthcare sector in Brazil has undergone significant changes,
making the country one of the world's most promising and attractive markets.
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