Contrast Agents and Radiopharmaceuticals | Market Insights | US | 2022
The global COVID-19 pandemic has negatively impacted the US contrast agents and radiopharmaceutical market to some extent. During the initial onset of the pandemic and at periods of high local COVID-19 case volumes, a number of states, cities, and countries issued orders to residents to shelter in place or to limit potential exposure to and transmission of infection, which resulted in elective procedures being postponed or canceled. Consequently, the volume of diagnostic imaging procedures, including those using contrast agents, and nuclear medicine procedures, underwent a significant decline in 2020. The market has also been negatively impacted by disrupted supply chains, delayed clinical trials, and an increased focus on critical care devices and related medical supplies.
Growth in the US market for contrast agents and radiopharmaceuticals will be driven by the expanded use of imaging agents in CEUS and PET procedures. However, the market will be somewhat limited by the continued concern over gadolinium and radiation exposure in certain modalities, while the shift to value-based care will hinder the use of some procedures while supporting the use of those that provide the most accuracy and clarity of visualization. The market will also be hindered by ASP erosion in some segments.
