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(Health-NewsWire.Net, April 15, 2022 ) Pancreatic And Bile Duct Stone Management Market 2022-2029
Pancreatic And Bile Duct Stone Management Market is likely to grow immensely, i.e. reach US$ 600.1 Mn at a CAGR of 4.4%. Physical health apps are gaining popularity. They are inclusive of calorie trackers, step-counters, and exercise and nutrition-based apps. These apps are to be at the forefront with regards to capitalizing on those having chronic ailments like high blood pressure, heart diseases, or diabetes. This would be a significant arm of the healthcare industry.
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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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Key Takeaways of Pancreatic and Bile Duct Stone 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.
“Increasing scientific evidence from clinical research and technological advancements in pancreatic & bile duct stone treatment techniques are expected to support significant adoption of ERCP-based pancreatic and bile duct stone management devices,” says a PMR analyst.
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Impact of COVID-19 to Cause a Downtrend in the Pancreatic and Bile Duct Stone Management Market
As the number of COVID-19 infections across the world increases day-by-day, the shortage of resources and the heightened need for assistance facilities are mounting pressure on hospitals to elect care for COVID-19 patients over other non-essential medical treatments. On the back of the priority of hospitals to provide treatment to COVID-19 patients, all other non-emergency medical procedures, under which pancreatic and bile duct stone management falls, are expected to witness a downtrend. Unless the medical complications are serious, all non-emergency treatments are being postponed. On the back of this factor, the growth of the pancreatic and bile duct stone management market will be hindered in the near future.
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