The US and European contrast agent and radiopharmaceutical markets will expand over the next 10 years, propelled by ASP hikes in the radiopharmaceutical space and increasing diagnostic imaging procedures

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Decision Resources Group

Oct 28, 2015, 08:30 ET

BURLINGTON, Mass., Oct. 28, 2015 /PRNewswire/ -- Decision Resources Group finds that while some differences exist, the US and European contrast agent and radiopharmaceutical markets are similar and will continue to expand, with the radiopharmaceutical and ultrasound contrast agent segments growing the fastest.

Other key findings from the Decision Resources Group's Medtech 360 contrast agent and radiopharmaceutical reports include:

  • The increasing penetration of higher-priced beta-amyloid imaging agents in the radiopharmaceutical segment will help boost prices. This will especially be the case following the US launch of the first drug therapy for Alzheimer's Disease, which will increase demand for beta-amyloid imaging significantly.
  • The use of PET imaging will also rise, especially for oncology applications. This will result from increased physician education about the modality's ability to track changes at the molecular level as well as improved reimbursement in some countries.
  • In response to severe shortages in the past, major SPECT radiopharmaceutical providers have shifted to a multisourcing strategy for their materials, which will help these competitors cope with future shortages.
  • Ultrasound procedures will continue to see fairly strong expansion because this market is still emerging; as ultrasound technology improves and physician training and awareness of the modality increases, ultrasound procedures using contrast agents will rise accordingly.
  • Clearer and faster imaging stemming from improved technology will result in a reduction in the volume of contrast required for many imaging procedures; however, the need for higher volumes of contrast agent for obese patients will help counteract this trend to some extent.
  • The use of gadolinium-based MRI contrast agents has been limited by safety concerns; however, the use of more stabilized and safer MRI contrast agent alternatives will support future growth.
  • Due to uncertainties surrounding the risk of patients developing NSF, competitors that offer macrocyclic MRI contrast agents—instead of gadolinium-based products—are better positioned for success in this market.

Comments from Decision Resources Group Analyst John Rizzo:

  • "I find the competitive elements of this market to be the most exciting to watch. There is a lot of price competition so companies have to be aggressive to maintain and grow their revenues. Securing tenders and bulk purchasing agreements are extremely important, but so is developing strong relationships with individual technicians who are increasingly advising their facilities on which products to purchase."
  • "Off-label use is also quite rampant, especially in CT and MRI procedures. However, using a product off-label can put facilities at risk of lawsuits and because of that, officially approved products can help companies gain share. For example, Bayer Healthcare gained FDA approval for its Gadavist MRI contrast agent for breast imaging in 2014, and this has helped it gain preference over other agents that have been used off-label for that indication in the past."

Additional Resources:

  • A blogpost on the subject can be found here.

For more information on purchasing this report, please email [email protected].

About Decision Resources Group
Decision Resources Group offers best-in-class, high-value data, analytics and insights products and services to the healthcare industry, delivered by more than 900 employees across 14 global locations. DRG provides the pharmaceutical, biotech, medical device, financial services and payer industries with the tools, insights and advice they need to compete and thrive in an increasingly complex and value-based marketplace. DecisionResourcesGroup.com.

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