The growth of endoscopic retrograde cholangiopancreatography market is majorly attributed to factors such as the rising incidence of cancer, increasing investments by governments and healthcare organizations to improve endoscopy research, growing focus on investments by hospitals for advanced endoscopy instruments, and the increasing preference for minimally invasive surgeries.
The global endoscopic retrograde cholangiopancreatography market is projected to reach USD 2.0 billion by 2026 from USD 1.3 billion in 2021, at a CAGR of 9.6% during the forecast period.
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Key players in the ERCP market include Olympus Corporation (Japan), CONMED Corporation (US), Fujifilm Holdings Corporation (Japan), HOYA Corporation (Japan), KARL STORZ SE & Co. KG (Germany), Ambu A/S (Denmark), Boston Scientific Corporation (US), Johnson & Johnson (US), Medtronic, PLC (Ireland), Cook Medical (US), and B. Braun Melsungen AG (Germany).
Olympus Corporation (Japan): Olympus is a leading player in the endoscopic retrograde cholangiopancreatography market. The company uses alliances and acquisitions to get a strong ERCP market. For instance, in January 2021, the company entered a five-year contract to jointly develop endoscopic ultrasound systems (EUS) with Hitachi Ltd. (Japan). Similarly, in January 2021, the company acquired Quest Innovations B.V. (Netherlands), which enabled Olympus to strengthen its surgical endoscopy capabilities and incorporate Quest’s advanced FIS capabilities into its comprehensive medical imaging portfolio. The company operates in around 40 countries across the Americas, Africa, Eastern Europe, the Middle East, Asia, and Oceania.
Fujifilm Holdings Corporation (Japan): Fujifilm is one of the key players in the endoscopic retrograde cholangiopancreatography market. The company uses product launches, acquisitions, and partnerships to strengthen its position in the market. For instance, in July 2020, Fujifilm launched ELUXEO Surgical Visualization System, which enables surgeons to visualize while performing both flexible and rigid endoscopy from a single tower. Additionally, in March 2021, the company acquired Hitachi, Ltd.’s Diagnostic Imaging-related Business (Japan), which enabled Fujifilm to expand its Healthcare business further. The company has a vast geographic reach across North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
HOYA Corporation (Japan): HOYA Corporation is one of the leading players in the ERCP Market. The company resorts to product launches, acquisitions, and joint ventures to hold its position in the market. For instance, in May 2021, PENTAX Medical (Japan), a subsidiary of HOYA Corporation, entered a joint venture with Vedkang Medical Science and Technology Co., Ltd. (China) to develop single-use therapeutic products in the field of flexible medical endoscopy. In addition, in May 2021, the company launched PENTAX Medical ONE Pulmo Bronchoscope. The company has a widespread presence worldwide, spanning North America, Europe, Asia, and Oceania.
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Boston Scientific Corporation: Boston Scientific Corporation develops, manufactures, and markets medical devices for several interventional medical specialties (including endoscopy). The company has a strong geographic presence in the US, the Asia Pacific, and other main markets in Europe. Bostin Scientific’s products are distributed worldwide through customer service centers in the US, the Netherlands, and Japan. There was a steady growth in the R&D expenditure from USD 920 million in 2016 to USD 1,143 million in 2020.