Therapeutic Drug Monitoring Market to Grow at a Steady CAGR During Forecast Period
Increase in awareness and
acceptance of personalized medicines to drive the growth of global therapeutic drug
monitoring market
According
to TechSci Research,“Global Therapeutic
Drug Monitoring Market By Technology(Immunoassays, Proteomic Technologies), By Drug
Class(Antiarrhythmic Drugs, Immunosuppressants, Antiepileptic Drugs, Others), By Active
Ingredient (Amikacin, Caffeine, Carbamazepine, Cyclosporine, Digitoxin,
Digoxin, Disopyramide, Ethosuxamide, Gentamicin, Lidocaine, Lithium,
Methotrexate, NAPA, Phenobarbital, Quinidine, Sirolimus, Tacrolimus,
Vancomycin, Others), By End-User (Hospitals, Diagnostic Centres, Others), By
Product (Immunoassay Equipment, Reagents, Other Consumables), By Region, Forecast
& Opportunities, 2025”, the global therapeutic drug monitoring market is expected
to grow at a steady CAGR rate during the forecast period on account of growing
demand for genetic testing. It’s a practice of measuring drug amount in
bloodstream to maintain its effective concentration. It is used to identify
therapeutic failure, avoid toxicity and adverse drug reactions. The reasons for
growth of therapeutic drug monitoring include growing demand for personalized
medicines and advanced technologies. Therapeutic drug monitoring is generally
used for anti-cancer drug, organ transplant procedures, and advanced treatment
therapies such as gene testing and proteomics. Increasing microbial resistance
is another factor which has stressed on the manufacturing of personalized
medicine and therapeutic drug monitoring market. There has been advances in the
field of biomedical technology such as nano biosensors. Advancement in tools
like spectrometry, assay kits, alternative matrices are the main factors responsible
for growth of therapeutic drug monitoring market.
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The global therapeutic drug monitoring market is segmented based on technology,
drug class, active ingredient, end user, product, company and region. Based on technology,
immunoassays are expected to dominate the market in the forecast period as they
are easy to perform and do not require specialized training. Based on drug
class, Antiepileptic drugs led the market in 2019 as have high complexity and
heterogeneity of epilepsy. Based on end user, hospitals segment is expected to
dominate the market share in the forecast period. Hospitals have appropriate
equipment and well skilled staff to derive meaningful interpretations from therapeutic
drug monitoring (TDM) assays. Therefore, therapeutic drug monitoring products
are increasingly deployed at hospitals.
Abbott
Laboratories, F Hoffmann-La Roche, Danaher Corporation, Thermo Fisher
Scientific, Siemens Healthinners, Buhlmann Laboratories, Biomerieux, ARK
Diagnostics, Inc., SJK Global, LLC, Meridian Healthcare S.R.L., Randox
Laboratories Ltd., Sekisui Medical Co. Ltd., North American Science Associates,
Inc., Alfa Scientific Designs, Inc. are
some of the leading players operating in global therapeutic drug monitoring market.
The companies operating in the market are using organic strategies such as
product launches, mergers and collaborations to boost their share.
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“North America is expected to dominate in
the global therapeutic drug monitoring market during the forecast period due to
technological advancements in healthcare and initiatives taken by government
for the development of therapeutic drug monitoring in the region. Additionally,
organ transportation and acceptance of therapeutic drug monitoring devices is
high in countries present in the region, which is another reason for high share
of the region.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global Therapeutic Drug Monitoring Market By Technology
(Immunoassays,
Proteomic Technologies), By Drug Class (Antiarrhythmic Drugs, Immunosuppressants,
Antiepileptic Drugs, Others), By Active Ingredient (Amikacin, Caffeine, Carbamazepine,
Cyclosporine, Digitoxin, Digoxin, Disopyramide, Ethosuxamide, Gentamicin,
Lidocaine, Lithium, Methotrexate, NAPA, Phenobarbital, Quinidine, Sirolimus,
Tacrolimus, Vancomycin, Others), By End-User (Hospitals, Diagnostic Centres,
Others), By Product (Immunoassay Equipment, Reagents, Other Consumables) , By Region, Forecast
& Opportunities, 2025”, has evaluated the future growth potential of global therapeutic
drug monitoring market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges and opportunities in global therapeutic
drug monitoring market.
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