Olympus Corporation, Boston Scientific Corporation, and STERIS Dominate the Global Endoscopic Retrograde Cholangiopancreatography Devices Market in 2020.

According to the Centers for Disease Control and Prevention, in 2018, 4.5 million adults were diagnosed with liver disease. Endoscopic retrograde cholangiopancreatography devices are designed for the diagnosis of pancreatic to biliary system-related disorders. The demand for gadgets is high because of the increase in pancreatic and liver diseases, which is expected to drive the endoscopic retrograde cholangiopancreatography devices market growth. Hence, the high prevalence of pancreatic and liver disorders and high frequencies of benign tumors of pancreas and liver are expected to drive the global endoscopic retrograde cholangiopancreatography devices market in the forecast period.

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Data Bridge Market Research analyses that the endoscopic retrograde cholangiopancreatography devices market is expected to grow at a CAGR of 5.9% in the forecast period of 2021 to 2028 and is expected to reach USD 12,971.05 million by 2028. The demand for advanced medical devices for diagnosing pancreatic and liver disease is expected to drive the global endoscopic retrograde cholangiopancreatography devices market in the forecast period.

Surge in Alcohol Consumption and Smoking globally is expected to drive the market's growth rate

Epidemiological, clinical and laboratory evidence point to a behavioral relationship between cigarette smoking and alcohol consumption. The combined use of cigarettes and alcohol poses health concerns and those posed by smoking alone, representing a severe public health issue that warrants further investigation. A chemical chain reaction occurs every time a smoker inhales a lit cigarette, producing dozens of hazardous chemicals. Cigarette smoke contains substances inhaled through the lips, through the tongue and mouth, down the throat and into the lungs, making inflammation and exposing those bodily parts to cancer-causing chemicals. According to NCBI, high alcohol intake is associated with an increased risk of pancreatitis and about 70% of pancreatitis is due to chronic heavy alcohol consumption. This shows the relation between smoking and alcohol consumption as a risk factor for pancreatitis. Thus, the rise in alcohol consumption and surge in smoking is expected to create opportunities for the global endoscopic retrograde cholangiopancreatography devices market in the forecast period.

Report Scope and Market Segmentation

Segment Analysis:

Global endoscopic retrograde cholangiopancreatography devices market is categorized into seven notable segments which are based on product type, modality, procedure, application, end user, facility type and distribution channel.

• On the basis of product type, global endoscopic retrograde cholangiopancreatography devices market is segmented into endotherapy devices, endoscope, imaging devices and others. In 2021, endotherapy devices segment is expected to dominate the market growing with the highest CAGR of 6.5%

The endotherapy devices segment is expected to dominate the market growing with the highest CAGR of 6.5%

In 2021, endotherapy devices segment is expected to dominate the market growing with the highest CAGR of 6.5% in the forecast period of 2021 to 2028 due to the availability of various types of equipment and big players are manufacturing these equipment in the market.

• On the basis of modality, global endoscopic retrograde cholangiopancreatography devices market is segmented into single use, standalone and handheld. In 2021, single use segment is expected to dominate the market growing with the highest CAGR of 6.8% in the forecast period of 2021 to 2028 because there is no risk of transmission of disease from one patient to another while using single-use devices.
• On the basis of procedure, global endoscopic retrograde cholangiopancreatography devices market is segmented into biliary sphicterectomy, biliary stenting, biliary dilation, pancreatic duct stenting and pancreatic sphicterectomy. In 2021, biliary sphicterectomy segment is expected to dominate the market growing with the highest CAGR of 6.5% in the forecast period of 2021 to 2028 because of high prevalence of pancreatic tumor across the globe.
• On the basis of application, global endoscopic retrograde cholangiopancreatography devices market is segmented into bile duct, pancreas, gall bladder, liver and others. In 2021, bile duct segment is expected to dominate market growing with the highest CAGR of 7.3% in the forecast period of 2021 to 2028 because owing to high prevalence of biliary diseases across the globe.
• On the basis of end user, global endoscopic retrograde cholangiopancreatography devices market is segmented into hospitals, ambulatory surgical centers, diagnostic laboratories and others. In 2021, hospitals segment is expected to dominate the market growing with the highest CAGR of 6.7%

The hospitals segment is expected to dominate the market growing with the highest CAGR of 6.7%

In 2021, hospitals segment is expected to dominate the market growing with the highest CAGR of 6.7% in the forecast period of 2021 to 2028 due to the growing emphasis on strategic initiatives (such as acquisitions, partnerships, and collaborations) by medical device companies to expand their capabilities in ERCP market.

• On the basis of facility type, global endoscopic retrograde cholangiopancreatography devices market is segmented into large medium and small. In 2021, large segment is expected to dominate the market growing with the highest CAGR of 6.6% in the forecast period of 2021 to 2028 due to the high demand of ERCP procedures in the large facilities.
• On the basis of distribution channel, global endoscopic retrograde cholangiopancreatography devices market is segmented into direct tenders, third party distribution and retail sales. In 2021, direct tender segment is expected to dominate the market growing with the highest CAGR of 6.7% in the forecast period of 2021 to 2028 because of significant growth due to the overall control over sales and revenue process along with direct interactions with customers.

Major Players

Data Bridge Market Research recognizes the following companies as the major endoscopic retrograde cholangiopancreatography devices market players in endoscopic retrograde cholangiopancreatography devices market are Abbott (U.S.), Apotex, Inc. (Canada), Avet Pharmaceuticals, Inc. (U.S.), Bausch Health Companies, Inc. (Canada), Cipla, Inc. (India), Dr. Reddy’s Laboratories Ltd. (India), EPI Health (U.S.), Fresenius Kabi AG (Germany), GlaxoSmithKline plc.(U.K.), Glenmark Pharmaceutical Inc., (U.S.),, Maruho Co.,Ltd. (Japan),  Mylan N.V. (U.S.),  Pfizer Inc. (U.S.), Sun Pharmaceutical Industries Ltd. (India), Teva Pharmaceutical Industries Ltd. (Israel), Zydus Pharmaceuticals, Inc.(U.S.), RECORDATI S.p.A. (Italy), Aurobindo Pharma (India), Amneal Pharmaceuticals LLC(U.S.), Slavia Pharm S.R.L. (Romania), and Blistex, In (Canada).

Market Development

• In December 2020, Johnson & Johnson Services, Inc. participated in the 39th annual J.P. Morgan Healthcare Conference. This has helped the company give the correct knowledge about its products and would help the company further grow in the coming years.
• In October 2020, Olympus Corporation announced the launch of two ERCP stone management devices, StoneMasterV and VorticCatchV EndoTherapy devices. The device has increased efficiency in bile duct stone management and will help the company to generate more revenue in the coming years.

Regional Analysis

Geographically, the countries covered in the endoscopic retrograde cholangiopancreatography devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

North America is the dominant region in endoscopic retrograde cholangiopancreatography devices market during the forecast period

North America dominated the endoscopic retrograde cholangiopancreatography devices market owing to the rise in biliary and pancreatic diseases. North America will continue to dominate the endoscopic retrograde cholangiopancreatography devices market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period due to the increasing healthcare expenditure.

Asia-Pacific is estimated to be the fastest-growing region in endoscopic retrograde cholangiopancreatography devices market

Asia-Pacific is expected to grow during the forecast period due to the wide variety of products available for the treatment in this region. In addition, the growing presence of major market players and rising disposable income are expected to propel the market's growth rate in this region.

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