Persistence Market Research (PMR), in its new study, forecasts the global pancreatic and bile duct stone management market to exhibit a promising 4.4% CAGR during the forecast period (2019–2029).
Global demand for pancreatic and bile duct stone treatment devices is expected to grow considerably, owing to rising prevalence of common bile duct and pancreatic stone diseases leading to increasing stone retrieval procedures, and rapid technological advancements in pancreatic and bile duct stone management products.
Moreover, rising global adoption of minimally-invasive stone extraction procedures, extensive clinical research, and increasing launches of highly sophisticated endoscopic medical devices are responsible for increasing adoption of pancreatic and bile duct stone management products.
For instance, according to a 2013 U.S. study, utilization trends of inpatient endoscopic retrograde cholangiopancreatography (ERCP) for pancreatic and bile duct stone extraction indicated that, there was a significant increase in therapeutic ERCPs by 37?% from 2002 to 2013.
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Management Market Study
- Sphincterotomes along with extraction balloon catheters are expected to gain traction during the forecast period.
- Cutting-edge product developments and subsequent pancreatic and bile duct stone management product launches in North America and Europe are expected to contribute to significant dominance of these regions during the forecast period.
- Common bile duct stone indication is expected to hold more than 75% share in the global pancreatic and bile duct stone management market.
- The hospitals end user segment is expected to gain significant traction and grow 1.5 by 2029.
- Leading pancreatic and bile duct stone management device manufacturing companies are partnering with innovative product developers and specialized distributors to strengthen their market position.
- Rising healthcare expenditure and increasing public awareness in East Asia and South Asia are expected to offer significant opportunities for market growth.