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.
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.
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.
North America to Dominate the Market