Market Overview
The Endoscopic Retrograde Cholangiopancreatography (ERCP) and Percutaneous Transhepatic Cholangiography (PTC) Devices Market research report develops business expansion plans by utilizing substantial growth offering developed and emerging markets. It also scrutinizes in-depth global market trends and outlook coupled with the factors driving the market growth. Moreover, the report also enhances the decision-making process by understanding the strategies that underpin commercial interest concerning segmentation, products, and industry verticals.
Endoscopic Retrograde Cholangiopancreatography (ERCP) and Percutaneous Transhepatic Cholangiography (PTC) Devices Market, By Product Type (Sphincterotomes, Lithotripter, Endoscopes, Accessories, Stents, Cannulas, Forceps, Snares, Catheters, Guiding Wires, Balloons, Baskets, Others), Application (Jaundice, Stone Removal, Postoperative or Posttraumatic Bile Leakage, Pancreatitis, Others), End User (Hospitals, Specialty Clinics, Diagnostic Laboratories, Others) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
The global Endoscopic Retrograde Cholangiopancreatography (ERCP) and Percutaneous Transhepatic Cholangiography (PTC) Devices market size was estimated at USD 1.8 billion in 2023 and is projected to reach USD 2.7 billion in 2030 at a CAGR of 6.2% during the forecast period 2023-2030.
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The exponential escalation in the recognition and cognizance of endoscopic retrograde cholangiopancreatography devices is deemed to be an indispensable and crucial element that is anticipated to intensify the expansion and entrenchment of the endoscopic retrograde cholangiopancreatography (ERCP) and percutaneous transhepatic cholangiography (PTC) devices market. Furthermore, the upsurge in the incidence of benign tumors of the pancreas and liver worldwide, coupled with the proliferation of vaginal cancer, in conjunction with the upswing in awareness initiatives, are also expected to contribute significantly to the growth trajectory of the market. Additionally, the augmentation in government-sponsored initiatives and breakneck speed at which awareness is being raised regarding the availability and efficacy of endoscopic retrograde cholangiopancreatography devices is highly likely to augment and amplify the growth and development of the market.
Moreover, the increase in research efforts focused on diagnostic imaging, as well as the improved research and development pertaining to advanced and safe endoscopic retrograde cholangiopancreatography (ECRP) devices, are also key factors expected to propel and bolster the growth and expansion of the endoscopic retrograde cholangiopancreatography (ERCP) and percutaneous transhepatic cholangiography (PTC) devices market. Emerging markets are countries that are in the process of developing their economies and healthcare systems, such as those in Asia, Africa, and Latin America. These markets are characterized by a growing middle class, increasing urbanization, and a focus on improving healthcare infrastructure and access to advanced medical technologies. As a result, there is a significant opportunity for companies that manufacture ERCP and PTC devices to expand their market share in these regions. This growth potential is driven by several factors, including rising healthcare spending, increasing demand for medical devices, and a growing burden of chronic diseases such as diabetes and cardiovascular disease.
The COVID-19 pandemic has had a negative impact on all industries worldwide, including the healthcare industry. Surgeons and patients who visited hospitals for various treatments were at a higher risk of contracting the virus due to the close proximity and exposure to infected individuals. As a result, many hospitals and healthcare facilities had to halt or reduce non-essential procedures to minimize the risk of transmission. Gastrointestinal procedures, including ERCP, were among the procedures that were affected by these restrictions. ERCP is a device-based treatment that involves the use of an endoscope to examine and treat conditions in the bile ducts and pancreas.
Delvens Industry Expert's Standpoint
Biliary disorders are medical conditions that affect the bile ducts, which are responsible for transporting bile from the liver to the small intestine. These disorders can cause a range of symptoms, including abdominal pain, nausea, and jaundice. Gallstones, bile duct obstructions, and pancreatitis are some of the most common biliary disorders. Gallstones are small, hard deposits that form in the gallbladder, while bile duct obstructions occur when the bile ducts become blocked or narrowed. Pancreatitis is a condition in which the pancreas becomes inflamed, leading to abdominal pain and digestive problems. The increasing incidence of biliary disorders is a major driver of demand for ERCP and PTC devices. These devices are used for both diagnosis and treatment of biliary disorders. ERCP involves the use of an endoscope, a flexible tube with a camera and light on the end, to examine the bile ducts and pancreas. PTC, on the other hand, involves the insertion of a needle through the skin and into the liver to inject contrast dye into the bile ducts, which can then be visualized using X-ray imaging. Technological advancements in endoscopy and imaging techniques have improved the effectiveness and safety of ERCP and PTC procedures. For example, the development of high-definition cameras and improved lighting systems has made it easier for doctors to visualize the bile ducts and pancreas during ERCP. Similarly, the use of digital X-ray imaging has improved the accuracy of PTC procedures. These advancements have led to increased adoption of ERCP and PTC devices, as they are now considered safer and more effective than older techniques. This has also led to increased demand for these devices, as more patients are being diagnosed with biliary disorders and seeking treatment.
Key Findings
· On the basis of product type, ERCP and PTC are medical procedures used to diagnose and treat problems in the liver, bile ducts, and pancreas. The market for these devices is segmented into various product types, including sphincterotomes, lithotripter, endoscopes, accessories, stents, cannulas, forceps, snares, catheters, guiding wires, balloons, baskets, and others. Sphincterotomes are devices used to cut or dilate the sphincter of Oddi, a muscle that controls the flow of bile and pancreatic juice into the small intestine. Lithotripters are devices used to break up gallstones or kidney stones using shock waves. Endoscopes are flexible tubes with a camera and light at the end, used to visualize the inside of the body. Accessories refer to various tools and devices used in conjunction with endoscopes, such as biopsy forceps or suction devices. Stents are small tubes inserted into the bile ducts or pancreatic ducts to keep them open. Cannulas are tubes used to drain fluid from the body. Forceps are instruments used to grasp and manipulate tissue or objects. Snares are wire loops used to remove polyps or other tissue from the body. Catheters are tubes inserted into the body to deliver fluids or medications.
· On the basis of application, The first application in the segmentation is jaundice, which is a condition that causes yellowing of the skin and eyes due to the buildup of bilirubin in the blood. ERCP and PTC can be used to diagnose and treat the underlying causes of jaundice, such as blockages in the bile ducts. The second application is stone removal, which refers to the removal of gallstones or kidney stones using ERCP or PTC. These procedures involve the use of specialized instruments to break up or remove the stones. The third application mentioned is postoperative or posttraumatic bile leakage, which can occur after surgery or injury to the bile ducts. ERCP and PTC can be used to diagnose and treat this condition by identifying the location of the leakage and sealing it off. The fourth application is pancreatitis, which is inflammation of the pancreas. ERCP and PTC can be used to diagnose and treat the underlying causes of pancreatitis, such as blockages in the pancreatic ducts.
· On the basis of end-user, The endoscopic retrograde cholangiopancreatography (ERCP) and percutaneous transhepatic cholangiography (PTC) devices market refers to the market for medical devices used in procedures related to the diagnosis and treatment of diseases affecting the bile ducts and pancreas. This market is segmented into different end users, which are hospitals, specialty clinics, diagnostic laboratories, and others. Hospitals are healthcare facilities that provide a wide range of medical services, including ERCP and PTC procedures, and are the largest end user segment in this market. Specialty clinics are healthcare facilities that focus on a specific medical specialty, such as gastroenterology, and may offer ERCP and PTC procedures as part of their services.
· The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. The region of North America is anticipated to take the lead in the market for endoscopic retrograde cholangiopancreatography (ERCP) and percutaneous transhepatic cholangiography (PTC) devices, primarily due to the increase in research and development (R&D) expenditure and the formidable presence of prominent market contenders.
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Regional Analysis
North America to Dominate the Market
· The North American region is currently at the forefront of the endoscopic retrograde cholangiopancreatography (ERCP) and percutaneous transhepatic cholangiography (PTC) devices market. This is primarily due to the notable increase in research and development (R&D) expenditure, as well as the strong presence of major market players.
· It is worth noting that the Asia-Pacific region is expected to experience a significant expansion in the aforementioned market over the forecast period. This is largely attributed to the rapid development of the healthcare infrastructure.
Competitive Landscape
· Olympus Corporation
· Conmed Corporation
· Telemed Systems, Inc.
· Boston Scientific Corporation
· Cook
· Merit Medical Systems
· Karl Storz Se & Co. Kg
· Braun Melsungen Ag
· Bd (Becton, Dickinson And Company)
· Fujifilm Corporation
· Medtronic
· Hobbs Medical, Inc
· Surecare
· Richard Wolf Gmbh
· Pentax Medical (Hoya Corporation)
· Johnson & Johnson
· Stryker Corporation
· Smith & Nephew Plc
· Karl Storz Endoscopy-America, Inc.
· Medivators Inc. (Cantel Medical Corp.)
· Nipro Corporation
Recent Developments
In March 2021, Fujifilm Holdings Corporation acquired the diagnostic imaging-related business of Hitachi Ltd. This acquisition was made to strengthen Fujifilm's healthcare business by expanding its product portfolio and increasing its market share in the diagnostic imaging market. Diagnostic imaging refers to the use of various imaging technologies, such as X-rays, CT scans, and MRI scans, to diagnose and treat medical conditions. The diagnostic imaging market is a rapidly growing market, driven by the increasing prevalence of chronic diseases and the aging population. By acquiring Hitachi's diagnostic imaging-related business, Fujifilm can now offer a wider range of diagnostic imaging products and services to its customers.This acquisition also allows Fujifilm to leverage Hitachi's expertise in diagnostic imaging technology and research and development capabilities.
Reasons to Acquire
· Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
· Gain authentic and granular data access for the Endoscopic Retrograde Cholangiopancreatography (ERCP) and Percutaneous Transhepatic Cholangiography (PTC) Devices Market to understand the trends and the factors involved in changing market situations.
· Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
· In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
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