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Endoscopic Retrograde Cholangiopancreatography (ERCP) Market - Growth, Trends, Covid-19 Impact, And Forecasts (2022 - 2027)

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  • 140 Pages
  • August 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 5616761
UP TO OFF until Dec 31st 2023
The Endoscopic Retrograde Cholangiopancreatography (ERCP) Market is expected to witness a registered CAGR of 8.5% during the forecast period, 2022-2027.

The COVID-19 epidemic has had a significant influence on endoscopic services around the world. In addition, the virus is spread via contact and droplets. As a result, endoscopy providers are at high risk during the pandemic because the disease spreads mostly by direct touch or aerosol droplets, and endoscopic procedures necessitate a close physical distance between patients and employees. According to the study titled "Comparison of the impact of endoscopic retrograde cholangiopancreatography between pre-COVID-19 and current COVID-19 outbreaks in South Korea: A retrospective survey" published in October 2021 in the World Journal of Clinical Cases, in 2018, 2019, and 2020, the number of ERCP procedures declined by 20.2 %, 56.6 %, and 70.9 %, respectively. The COVID-19 outbreak lowered the number of ERCPs considerably, although there was no difference in indications or endoscopic interventions before and after the outbreak. Thus, the endoscopic retrograde cholangiopancreatography market was significantly impacted by COVID-19.

Demand for these devices is expected to increase in the near future as the frequency of biliary stones and pancreatic cancer rises. According to the American Cancer Society's Statistics 2021, pancreatic cancer is the third most common cancer in the United States, with 60430 new cases and 48220 deaths, following lung and bronchus cancer and colorectal cancer. By 2025, it is estimated that approximately 111500 people (55000 men and 56500 women) will die from pancreatic cancer in the 28 countries of the European Union (EU), and the number of recorded deaths from cancer will increase by nearly 50% (45 percent in men and 49 percent in women), making pancreatic cancer the third leading cause of cancer death in the EU after lung and colorectal cancers.

Furthermore, the introduction of minimally invasive surgical techniques has resulted in an increase in the number of patients seeking ERCP operations, which will help the industry thrive in the coming years. According to the American Cancer Society, in January 2021, Cholangiocarcinoma (bile duct cancer) is an uncommon malignancy. Each year, approximately 8,000 persons in the United States are diagnosed with it. Both intrahepatic (within the liver) and extrahepatic (outside the liver) bile duct tumors fall under this category.

In recent years, people have been showing interest in minimally invasive procedures rather than opting for traditional open surgeries that involve long incisions made through the muscles. These muscles take a considerable amount of time to heal. The main advantage of minimally invasive surgeries (MIS) over traditional open surgeries is higher precision due to video-assisted equipment, which produces a better and magnified image of the organs or body parts being operated on, along with other significant benefits, such as less major bleeding, fewer post-op infections, fewer complications, shorter length of stay, quicker return to normal activities, less scarring, and comparable/lower cost, among others. As a result, these procedures have become more prevalent in recent times.

Furthermore, key activities by the market players such as product launches, mergers, and acquisitions are anticipated to drive the market over the forecast period. For instance, in October 2021, Olympus Corporation (Japan) revealed the debut of two endotherapy devices, StoneMasterV and VorticCatchV, to improve the effectiveness of bile duct stone management and retrieval for ERCP.

Key Highlights

  • Thus, all aforementioned factors are expected to boost the market over the forecast period. However, the high cost associated with ERCP devices restrained the market over the forecast period.

Key Market Trends

Endoscopes Segment is Projected to Grow Significantly During the Forecast Period.

An endoscope is medical equipment that includes a light. It is used to examine the interior of a bodily cavity or organ. A bronchoscopy scope is introduced through the mouth, while a sigmoidoscopy scope is inserted through the rectum. An endoscopy is a medical procedure that uses any type of endoscope.

Endoscopy surgeries for treatment and diagnosis are becoming more common, and technical improvements are resulting in more advanced applications, boosting the market's growth. In October 2020, Olympus Corporation conducted a study titled "Survey Study for International Expansion of AI Diagnosis Support System Using Ultra-High Magnifying Endoscopes in India" in collaboration with the Ministry of Internal Affairs and Communications (MIC). The goal of the research is to create better endoscopic diagnostics in India, where endoscopists are scarce. Olympus built an AI diagnostic support system at a prominent medical institution, the Asian Institute of Gastroenterology (AIG), in Hyderabad, India, in conjunction with Cybernet Systems Co. Ltd.

In addition, the growing awareness of minimally invasive procedures among the older population, as well as the increased prevalence of chronic diseases, are driving up demand for endoscopic devices.

Additionally, key strategies adopted by the market players, such as product launches, mergers, and acquisitions expected to boost the segment growth. For Instance, in September 2020, PENTAX Medical, a leader in diagnostic and therapeutic endoscopy, introduced the new J10 Series Ultrasound Video Gastroscopes. Similarly, in January 2020, PENTAX Medical, a healthcare industry leader in diagnostic and therapeutic endoscopy, launched the DEC HD Duodenoscope, an advanced, high-definition duodenoscope that features multiple disposable components, including the sterile distal cap and elevator lever, for unit reprocessing.
  • Thus, all aforementioned factors are expected to drive the endoscope segment over the forecast period.

North America Dominates the Market and Expected to do Same in the Forecast Period

North America accounted for the greatest share and is expected to maintain its dominance. Due to significant R&D expenditure, the presence of key firms and their product availability, and the region's well-established healthcare infrastructure. However, the rising prevalence of cancer and product launches by the key market players are anticipated to drive the market over the forecast period.

According to the American Society of Clinical Oncology (ASCO), in September 2021, Pancreatic cancer will be diagnosed in 31,950 men and 28,480 women in the United States. Approximately 3% of all malignancies are caused by this condition. The eighth most prevalent cancer in women and the tenth most common disease in men is pancreatic cancer. The annual rate of pancreatic cancer incidence has increased by about 1%.

Furthermore, according to a study published in the JAMA Network in March 2022 by Jared R. Gallaher, MD, MPH, In the United States, roughly 20 million people suffer from gallbladder disease. Each year, around 200 000 persons in the United States are diagnosed with acute cholecystitis. Thus, reducing the prevalence of such diseases, the demand for ERCP in the region thereby boosts the market.

However, product launches and mergers and acquisitions, as well as partnerships by the market players anticipated driving the market in the region. For instance, in August 2021, The U.S. Centers for Medicare & Medicaid Services (CMS) approved a New Technology Add-on Payment (NTAP) for single-use duodenoscopes, which includes the EXALTTM Model D Single-Use Duodenoscope, as part of the Hospital Inpatient Prospective Payment System for Fiscal Year 2022. Similarly, in May 2021, STERIS PLC (US) acquired Cantel Medical (US), which enabled STERIS Healthcare to expand its product portfolio and cater to customers.
  • Thus, all the aforementioned factors are expected to boost the market over the forecast period.

Competitive Landscape

The market is highly competitive and consists of several global players. As the market is progressing, the firms are trying to achieve clear differentiation in endoscopic systems based on their application. Due to the requirements for high-quality imaging and operative capabilities, various customer groups are shifting toward optimized visualization systems that integrate various ERCP devices. Some of the key players include Olympus Corporation, CONMED Corporation, Fujifilm Holdings Corporation, Boston Scientific Corporation, Johnson & Johnson, Medtronic, PLC., Cook Medical, and Hobbs Medical Inc.

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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Incidence of Pancreatic Cancer
4.2.2 Rising Preference for Minimally Invasive Surgeries
4.3 Market Restraints
4.3.1 High Costs of Endoscopic Retrograde Cholangiopancreatography Devices
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Product
5.1.1 Endoscope
5.1.2 Endotherapy Devices Sphincterotomes Lithotripter Stents Others
5.1.3 Visualization Systems
5.1.4 Energy Devices
5.1.5 Others
5.2 By Procedure
5.2.1 Biliary Sphincterotomy
5.2.2 Biliary Stenting
5.2.3 Biliary Dialtation
5.2.4 Pancreatic Sphincterotomy
5.2.5 Pancreatic Duct Stenting
5.2.6 Pancreatic Duct Dilatation
5.3 End User
5.3.1 Hospitals
5.3.2 Ambulatory Surgery Centres & Clinics
5.3.3 Other End Users
5.4 Geography
5.4.1 North America United States Canada Mexico
5.4.2 Europe Germany United Kingdom France Italy Spain Rest of Europe
5.4.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.4.4 Middle-East and Africa GCC South Africa Rest of Middle-East and Africa
5.4.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 Olympus Corporation
6.1.2 CONMED Corporation
6.1.3 Fujifilm Holdings Corporation
6.1.4 Boston Scientific Corporation
6.1.5 Johnson & Johnson
6.1.6 Medtronic, PLC
6.1.7 Cook Medical
6.1.8 Hobbs Medical, Inc.
6.1.10 TeleMed Systems, Inc
6.1.11 Medi-Globe GmbH
6.1.12 Taewoong Medical Co., Ltd.
6.1.13 Huger Medical Instrument Co., Ltd
6.1.14 SonoScape Medical Corporation

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Olympus Corporation
  • CONMED Corporation
  • Fujifilm Holdings Corporation
  • Boston Scientific Corporation
  • Johnson & Johnson
  • Medtronic, PLC
  • Cook Medical
  • Hobbs Medical, Inc.
  • TeleMed Systems, Inc
  • Medi-Globe GmbH
  • Taewoong Medical Co., Ltd.
  • Huger Medical Instrument Co., Ltd
  • SonoScape Medical Corporation