Report forecasts modest growth in contrast, radiopharmaceutical markets
The U.S. market for contrast agents and radiopharmaceuticals will grow slightly through 2023, according to healthcare industry analysts with Decision Resources Group.
The market research firm noted that revenues will increase despite procedure volumes remaining relatively flat, with revenues driven largely by market growth in radiopharmaceuticals.
Among the strongest factors affecting the contrast and radiopharmaceutical markets is the reimbursement landscape, according to a report from Decision Resources Group. The Centers for Medicare & Medicaid Services changed reimbursement criteria in 2011 to assume higher utilization rates for diagnostic imaging systems, though because the same amount of coverage is provided over the lifetime of the system, the amount reimbursed per scan is effectively reduced. Private insurers are also increasingly asking for preauthorization to approve coverage, noted the report.
Initiatives to limit the amount of contrast agent used per procedure for safety reasons also stands to limit revenues.
On the other side of the equation, revenues will be increased by growing demand, both from an aging population in need of more care and from newly-insured patients receiving coverage from healthcare reforms.
Evan joined TriMed in 2011, writing primarily for Health Imaging. Prior to diving into medical journalism, Evan worked for the Nine Network of Public Media in St. Louis. He also has worked in public relations and education. Evan studied journalism at the University of Missouri, with an emphasis on broadcast media.