Due to a rise in cancer incidence worldwide, the market for endoscopic retrograde cholangiopancreatography (ERCP) devices is predicted to reach US$ 1.5 billion in 2022 and US$ 2.8 billion by 2032. According to FMI, the market for endoscopic retrograde cholangiopancreatography (ERCP) devices is anticipated to increase at a CAGR of 6.2% from 2022 to 2032.
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Endoscopic retrograde cholangiopancreatography (ERCP) devices combine fluoroscopic imaging and luminal endoscopy to diagnose and treat pancreatobiliary system disorders. Endoscopic retrograde cholangiopancreatography (ERCP) devices use a side-view duodenoscopy that is then passed through the oesophagus and stomach into the duodenum’s latter section. Endoscopic retrograde cholangiopancreatography (ERCP) devices are used to collect tissue and cell samples as well as to treat a blocked pancreas or bile duct.
The duct blockage could be caused by either noncancerous stones or cancer. Imaging tests such as endoscopic retrograde cholangiopancreatography (ERCP) are used to diagnose or examine the pancreatic ducts, gallbladder, liver, and pancreas. Magnetic resonance cholangiopancreatography and computed tomography machines are gradually replacing endoscopic retrograde cholangiopancreatography (ERCP). ERCP devices are used for a variety of procedures such as sphincterotomy, stone removal, stent placement, dilation, and fluid drainage.
Endoscopic Retrograde Cholangiopancreatography (ECRP) Devices Market: Drivers and Restraints-
Endoscopic retrograde cholangiopancreatography (ECRP) devices for cancer treatment have grown in popularity over the years. During the forecast period, the increasing prevalence of benign liver and pancreatic tumours is expected to create appealing market opportunities for endoscopic retrograde cholangiopancreatography (ECRP) devices across regions.
Several ongoing studies for safer use and improved efficiency of these endoscopic retrograde cholangiopancreatography (ECRP) devices, as well as rising government support for R&D, may also drive growth in the endoscopic retrograde cholangiopancreatography (ECRP) device market over the forecast period. Endoscopic retrograde cholangiopancreatography (ECRP) device awareness is expected to drive market growth for ECRP devices, as is increased availability.
High endoscopic retrograde cholangiopancreatography (ECRP) device costs, as well as side effects associated with cholangiopancreatography procedures such as post-ERCP pancreatitis, infection, haemorrhage, and allergic reactions, are expected to stymie market growth for ECRP devices during the forecast period.
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Endoscopic Retrograde Cholangiopancreatography (ECRP) Devices Market: Overview
When compared to other endoscopic procedures, endoscopic retrograde cholangiopancreatography (ECRP) devices use advanced techniques, which increases the risk of serious complications. As a result, specialised equipment and training are required, and the procedure is only used in limited circumstances. According to a review by Freeman et al., approximately 500,000 procedures are performed in the United States each year. Endoscopic retrograde cholangiopancreatography (ECRP) devices are commonly used in hospitals for patients suffering from pancreatic or gallstone disease.
Endoscopic Retrograde Cholangiopancreatography (ECRP) Devices Market: Region-wise Outlook
Endoscopic retrograde cholangiopancreatography (ECRP) device sales in North America are expected to skyrocket due to increased diagnostic imaging-related research and improved R&D for advanced and safe ECRP devices. During the forecast period, improved healthcare infrastructure and expenditure are expected to drive the Europe market for endoscopic retrograde cholangiopancreatography (ECRP) devices.
The Asia-Pacific market for endoscopic retrograde cholangiopancreatography (ECRP) devices is expected to grow as cholangiopancreatography procedure awareness grows in China, India, and Japan. The constant increase in the number of ECRP device manufacturers is expected to drive demand for endoscopic retrograde cholangiopancreatography (ECRP) devices during the forecast period.
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Endoscopic Retrograde Cholangiopancreatography (ECRP) Devices Market: Key Market Participants
Olympus Corporation, Boston Scientific Corporation, CONMED Corporation, Cook Medical, Inc., Hobbs Medical, Merit Medical Systems, and TeleMed Systems, Inc. are a few market participants identified across the value chain in the global endoscopic retrograde cholangiopancreatography (ECRP) devices market.
The market research report on endoscopic retrograde cholangiopancreatography (ECRP) devices includes thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also includes projections based on an appropriate set of assumptions and methodologies. Endoscopic retrograde cholangiopancreatography (ECRP) devices are examined and data is provided based on market segments such as geography, application, and industry.
The report is based on firsthand information, qualitative and quantitative analysis by industry analysts, and feedback from industry experts and value chain participants. The report investigates parent market trends, macroeconomic indicators, governing factors, and market attractiveness by segment. The report also depicts the qualitative impact of various market factors on market segments and geographies.
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