North America Endoscopic Retrograde Cholangiopancreatography Market: Industry Analysis and Forecast (2024-2030)

North America Endoscopic Retrograde Cholangiopancreatography Market Overview:

North America Endoscopic Retrograde Cholangiopancreatography Market is projected to grow during the forecast period at a significant rate. The rising incidence of cancer, large investments in new ERCP technology by hospitals, research centres and a significant focus on research activities to improve endoscopic techniques are all important factors that are fuelling the growth of Endoscopic Retrograde Cholangiopancreatography Market. North America also has presence of key players in its region which emphasizes the importance of Endoscopic Retrograde Cholangiopancreatography Market and functions as a major driver. Pancreatic cancer will be diagnosed in 31,950 men and 28,480 women in the United States in September 2021, according to the American Society of Clinical Oncology (ASCO). This disease is responsible for about 3% of all cancers. Pancreatic cancer is the eighth most common cancer in women and the tenth most common cancer in males. The incidence of pancreatic cancer has grown by around 1% every year since last decade.

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North America Endoscopic Retrograde Cholangiopancreatography Market Dynamics:

The North American market is growing due to the rising prevalence of pancreatic and biliary illnesses, the existence of a large number of participants in the market, and the development of improved technology-based devices. The FDA's strict regulatory environment is functioning as a market restraint. The market is taking advantage of the sophisticated healthcare infrastructure and favourable reimbursement scenario. As the incidence of biliary stones and pancreatic cancer rises, demand for these Endoscopic Retrograde Cholangiopancreatography is projected to rise in the during the forecast period. After lung and bronchus cancer and colorectal cancer, pancreatic cancer is the third most frequent disease in the United States, with 60430 new cases and 48220 deaths, according to the American Cancer Society's Statistics 2021.

Scarcity of skilled workers may provide a barrier to market growth. Endoscopic retrograde cholangiopancreatography (ERCP) is a treatment that employs endoscopy and fluoroscopy to inspect, diagnose, and treat disorders affecting the liver, gallbladder, bile duct, and pancreas. An ERCP necessitates the presence of a radiologist in addition to the physician doing the procedure. The radiologist assists the surgeon in directing the endoscopic intervention by scanning for abnormalities in the duodenum, pancreas, and biliary tree. The American Cancer Society predicts that 41,260 new cases of liver cancer and intrahepatic bile duct cancer will be detected in the United States in 2022. Since past few decades, the incidence of liver cancer has more than tripled, while the fatality rate has more than doubled. Around 60,430 new pancreatic cases were detected in the United States in 2021.

Furthermore, the introduction of minimally invasive surgical techniques has increased the number of patients seeking ERCP procedures, which will help the business prosper in the next years. Cholangiocarcinoma (bile duct cancer), according to the American Cancer Society in January 2021, is a rare cancer. Approximately 8,000 people in the United States are diagnosed with it each year. This includes both intrahepatic (inside the liver) and extrahepatic (outside the liver) bile duct tumours.

The rising incidence of cancer, increasing investments by governments and healthcare organisations to improve endoscopy research, growing focus on investments by hospitals for advanced endoscopy instruments, and the increasing preference for minimally invasive surgeries are all contributing to the growth of the ERCP market. Additionally increased awareness amongst the residents of the constituent countries regarding preventive medication and health care has prompted many people to keep testing for malignant tumours even if slightest doubt of its existence persists. This is also due to the expensive treatment costs that the patients would want to avoid. Presence of key players in the North American region is also fuelling the growth of Endoscopic Retrograde Cholangiopancreatography Market as investments in research and development on more efficient and modernised products have increased in order to outperform the competition amongst the key players. This has resulted in cost reduction of products and more innovative solutions in the Endoscopic Retrograde Cholangiopancreatography Market.

In terms of market restraints, high costs associated with endoscopic retrograde cholangiopancreatography devices, as well as side effects such as post- endoscopic retrograde cholangiopancreatography pancreatitis, infection, haemorrhage, and allergic reactions that are associated with cholangiopancreatography procedures, are expected to stymie market growth during the forecast period. High costs of endoscopic retrograde cholangiopancreatography equipment, the development of alternate procedures such as EUS and MRCP, and a shortage of educated physicians and endoscopists, on the other hand, are projected to limit market growth to some extent.

The use of endoscopic retrograde cholangiopancreatography (ERCP) for children is growing, based on the experience gained from adult ERCP procedures over the last 50 years in the region. In the past, the indications for endoscopic retrograde cholangiopancreatography and its perceived value in juvenile patients were limited because of the scarcity of paediatric gastroenterologists with interventional endoscopy training, and hence paediatric ERCP treatments were traditionally performed by adult gastroenterologists. This practise trend has changed in the last 10-15 years, owing to an increase in the number of paediatric-trained interventional endoscopists who can safely and efficiently perform endoscopic retrograde cholangiopancreatography.

North America Endoscopic Retrograde Cholangiopancreatography Market Segment Analysis:

On the basis of product type, Endotherapy devices are projected to dominate the market in 2030 due to growth of gastrointestinal conditions and minimally invasive surgeries. Additionally, the reason for significant growth in the North American region is due to intense expenditure in healthcare sector that is fuelling the growth of ERCP market in the region.

On the basis of end user, the Endoscopic Retrograde Cholangiopancreatography Market in North America is dominated by hospitals and clinics. This is largely due to the fact that majority of volume consumption comes from hospital and clinics across the North American region. The testing and diagnosis are also mostly in-house when it comes to hospitals in the North American region. All these factors contribute significantly to the growth of Endoscopic Retrograde Cholangiopancreatography Market

On the basis of application, Pancreatic Sphincterotomy is projected to dominate the Endoscopic Retrograde Cholangiopancreatography Market due to prevalence of pancreatic duct and bile duct stones amongst the North American Population. Additionally, the growing geriatric population in the North American region has a demand for endoscopies due to increase in biliary disorders.    

The objective of the report is to present a comprehensive analysis of the North America Endoscopic Retrograde Cholangiopancreatography market to the stakeholders in the industry. The report provides trends that are most dominant in the North America Endoscopic Retrograde Cholangiopancreatography market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the North America Endoscopic Retrograde Cholangiopancreatography Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

The qualitative and quantitative data provided in the North America Endoscopic Retrograde Cholangiopancreatography market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the North America Endoscopic Retrograde Cholangiopancreatography market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the North America Endoscopic Retrograde Cholangiopancreatography market.

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals are existing, who they are, and how their product quality is in the North America Endoscopic Retrograde Cholangiopancreatography market. The report also analyses if the North America Endoscopic Retrograde Cholangiopancreatography market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly if the market is dominated by a few players, etc.

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the North America Endoscopic Retrograde Cholangiopancreatography market. Economic variables aid in the analysis of economic performance drivers that have an impact on the North America Endoscopic Retrograde Cholangiopancreatography market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the North America Endoscopic Retrograde Cholangiopancreatography market is aided by legal factors.

North America Endoscopic Retrograde Cholangiopancreatography Market Scope:

North America Endoscopic Retrograde Cholangiopancreatography Key Players:  

• Hobbs Medical Inc (US)
• Steris PLC (US)
• Merit Medical Systems, Inc. (US)
• TeleMed Systems, Inc. (US)
• Kimberly-Clark Corporation (US)
• Boston Scientific Corporation (US)
• Olympus Corporation (US)
• Medtronic (US)
• Ambu Inc (US)
• Conmed Corp (US)