Introduction
Endoscopic Retrograde
Cholangiopancreatography (ERCP) is a minimally invasive procedure used to
diagnose and treat diseases of the bile and pancreatic ducts. It is used to
diagnose conditions such as bile duct stones, biliary strictures, and
pancreatic cancer. The procedure involves the insertion of an endoscope into
the patient’s mouth and then into the duodenum. A small catheter is then passed
through the endoscope and into the common bile duct or pancreatic duct. Dye is
injected through the catheter and x-rays are taken to help diagnose the
condition.
Global
ERCP Market Overview
The global ERCP market in
terms of revenue was estimated to be worth $1.3 billion in 2021 and is poised
to reach $2.0 billion by 2026, growing at a CAGR of 9.6% from 2021 to 2026.
Endoscopic retrograde
cholangiopancreatography (ERCP) is a medical process that involves the
insertion of a thin, flexible tube that is fitted with a camera through the
mouth and esophagus, and into the duodenum. The procedure is used to diagnose
and treat diseases related to the gallbladder, bile ducts, and pancreas. This
medical procedure is used to diagnose and treat a variety of conditions,
including pancreatic cancer, bile duct cancer, pancreatitis, and gallstones.
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Drivers
of the ERCP Market
Nowadays, the global incidence of
cancer is increasing. According to the WHO, cancer is the second-leading cause
of death globally and was responsible for 9.6 million deaths in 2018. According
to the American Cancer Society's estimates, about 41,260 new cases of liver
cancer and intrahepatic bile duct cancer will be diagnosed in the US in 2022.
Liver cancer incidence rates have more than tripled since 1980, while death
rates have more than doubled during this time. In 2021, around 60,430 new
pancreatic cancer cases will be diagnosed in the US. Every year in the United
Kingdom (2016–2018), approximately 10,500 new pancreatic cancer cases and 6,200
new liver cancer cases were diagnosed. Globally, 458,918 new cases of
pancreatic cancer were reported in 2018, and 355,317 new cases are estimated to
occur until 2040 (GLOBOCAN 2018 estimates). Since ERCP is often used as a
diagnostic tool in hepatic, biliary, and pancreatic cancers, the rising
incidence of these cancers is directly related to the impact on the ERCP market.
Opportunities
of ERCP Market
Brazil,
Russia, India, China, and South Africa (BRICS) are among the fastest-growing
economies globally. According to the World Economic Forum, the emerging
economies will account for around one-third of global healthcare expenditure in
2021. More than half of the world's population resides in India and China,
owing to which these countries are home to the highest number of patients.
The
increasing burden of cancer, rapid improvements in healthcare infrastructure,
the rapid growth of medical tourism, and the presence of flexible regulation in
these countries encourage players in the endoscopy equipment market to expand
their presence in emerging countries.
Several
endoscopy equipment manufacturers are currently setting up their facilities in
Asia, the Middle East, and Latin America. Karlstrom, for example, has already
established manufacturing and R&D facilities in these countries. In
addition, market saturation in developed regions, such as North America and
Europe, will force manufacturers to focus on emerging markets in the coming
years.
Regional
ERCP Market Analysis
Governments in several Latin American
countries focus on improving their respective healthcare systems, and the
healthcare sector in Brazil has undergone significant changes, making the
country one of the world's most promising and attractive markets. Along with
this, Japan's well-developed healthcare system with universal health insurance
coverage and the focus of countries such as China and India on healthcare
infrastructure improvements to serve large populations of patients with
critical illnesses, including cancer and tumors, are driving the market in
these regions forward at a rapid pace.
Major
Players in the ERCP Market
The
major players in the global ERCP market include Olympus Corporation (Japan),
CONMED Corporation (US), Fujifilm Holdings Corporation (Japan), HOYA
Corporation (Japan), KARL STORZ SE & Co. KG (Germany), Ambu A/S (Denmark),
Boston Scientific Corporation (US), Johnson & Johnson (US), Medtronic, PLC
(Ireland), Cook Medical (US), and B. Braun Melsungen AG (Germany).
Recent
Developments in ERCP Market
- In January 2022, Cook Medical (US) launched an endoscopic clipping
device, namely Instinct Plus, which is compatible through a duodenoscope,
has applications for defect closure, anchoring procedures and prophylactic
clipping in the gastrointestinal (GI) tract.
- In May 2021, STERIS PLC (US) acquired Cantel Medical (US) which
enabled STERIS Healthcare to expand its product portfolio and cater to
customers worldwide.
- In March 2021, Fujifilm Holdings Corporation (Japan) acquired
Hitachi, Ltd.’s Diagnostic Imaging-related Business (Japan), adding to the
former’s stronghold in the healthcare business.
- In October 2020, Olympus Corporation (Japan) launched two
endotherapy devices, StoneMasterV and VorticCatchV, to increase the
efficiency in bile duct stone management and retrieval for ERCP announced
a partnership with Holberg to develop and distribute the Autoscore
algorithm.
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Conclusion:
Endoscopic Retrograde
Cholangiopancreatography (ERCP) is an important diagnostic and therapeutic tool
for the diagnosis and management of pancreatic and biliary diseases. This
growth is attributed to the rising prevalence of gastrointestinal diseases, growing
geriatric population, and rising demand for minimally invasive procedures.
In addition, the
increasing prevalence of gallstones, rising awareness regarding ERCP
procedures, and technological advancements in the ERCP systems are further
expected to boost the growth of the market. However, the high cost of the
procedure and the lack of skilled professionals are expected to impede the
growth of the market.
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