In 2021, the endoscopic retrograde cholangiopancreatography market was worth around USD 1,270.9 million, and it is projected to advance at an 8.1% CAGR from 2021 to 2030, hitting USD 2,557.7 million by 2030, according to P&S Intelligence. This growth can be credited to the growth in the occurrence of pancreatic cancer and a paradigm move toward minimally invasive procedures.
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In 2021, Endotherapy devices and endoscopes together had approximately 70% share. This can be credited to the surge in the need for ERCP devices attached to the high occurrence of choledocholithiasis, pancreatitis, pancreatitis, and pancreatic cancer. According to the American Health Organization, over60,000 individuals are projected to have gone through pancreatic cancer in 2022, and around 50,000 individuals will expire from it, in the U.S.
The North American endoscopic retrograde cholangiopancreatography industry, generated the largest revenue share of approximately USD 471.4 million, in 2021. Approximately 3% of demises in the U.S. region happen because of pancreatic cancer each year.
Furthermore, the increasing drinking of alcohol is leading to numerous illnesses including pancreatic adenocarcinoma and pancreatic neuroendocrine tumor. Such reasons are ensuing in the high utilization of ERCP procedures in the continent. Furthermore, over 20% of the Canadian populace suffers from bile duct illness, which is further boosting the growth of the market.
Moreover, the sanction of numerous ERCP devices by the FDA in the continent also strengthens industry growth. For example, in July 2020, Ambu Inc. got the FDA sanction for Ambu aScope Duodeno, which is a sterile, single-use duodenoscope.
Hence, the growth in the occurrence of pancreatic cancer and a paradigm move toward minimally invasive procedures, and such factors are contributing to the growth of the endoscopic retrograde cholangiopancreatography industry.
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