Global Gastrointestinal Devices MedTech market pegged at $13-14 billion in 2021, growing at a rate of 5%. Increased usage of single-use endoscopes, robots, and an increasing focus on AI in surgeries will be the main drivers of market expansion.
The global endoscopy guidewire market is projected to register growth at a CAGR of 5.40% during forecast the period 2023-2032. Get more insights into the blog
The global Endoscopic Retrograde Cholangiopancreatography (ERCP) market size was USD 1.40 Billion in 2022 and is expected to register a rapid revenue CAGR of 4.3% during the forecast period, according to latest analysis by Emergen Research. Surge in procurement of endoscopy devices in healthcare facilities and rapid increase in popularity of minimally invasive surgeries are key factors driving market revenue growth.
In 2021, the endoscopic retrograde cholangiopancreatography market valued at $1,270.9 million, and it is expected to grow at a rate of 8.1% from 2021 to 2030, to hit the $2,557.7 million value by 2030. It is attributed to the growing prevalence of pancreatic disorders in the geriatric population and the increased adoption of minimally invasive procedures. The rise in medical reimbursements is also driving the market. For example, the average cost of an endoscopy procedure is more than $3,000 in the U.S., but due to health insurance, there can be a reduction of $1,500 in the cost.
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Disorders of the digestive system known as Gastrointestinal (GI) diseases that involve a variety of vital digestive organs such as mouth, esophagus, stomach, small and large bowels, rectum, anus, and GI connected organs (liver, gallbladder, and pancreas).