India Therapeutic Drug Monitoring Market to Reach $ 119 Million by 2026
Increasing need of
monitoring optimum drug levels in blood plasma to drive therapeutic drug
monitoring market in India
According to
TechSci Research report, “India
Therapeutic Drug Monitoring Market By Product, By Technology, By Class of
Drug, By End User, By Region, Competition, Forecast & Opportunities, FY 2026”, therapeutic
drug monitoring market in India is projected to grow from an estimated $ 85 million in FY
2021 to $ 119 million by FY 2026 on the back of rising chronic diseases. Therapeutic
drug monitoring is an essential clinical practice as it monitors levels of
different drugs in plasma, bloodstream, or serum at different time intervals in
order to optimize the amount of different drugs to prevent diseases. Therapeutic
drug monitoring has utility in various applications such as diagnosis of
toxicity, tailoring the optimum drug levels, finding the root cause of failed
outcome of therapies, etc. Nowadays, people are increasingly inclined towards
precision medicines and personalized dosage. This is expected to be a major
factor driving the growth of the country’s therapeutic drug market in the
coming years. In addition to this, increasing population along with the growing
pool of old-age segment is positively influencing the market growth.
Besides,
government initiatives have been prodding the market growth through higher flow
of funds for R&D to innovate and develop novel drugs and vaccines. The
Central Drugs Standard Control Organization (CDSCO) is the drug authority of India
that focuses on approval of novel drugs, setting new standards for the same,
and maintaining the quality of the drugs produced as per the Drugs and
Cosmetics Act.
Browse over 10 market
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in-depth TOC on "India Therapeutic Drug
Monitoring Market"
https://www.techsciresearch.com/report/india-therapeutic-drug-monitoring-market/5085.html
India
therapeutic drug monitoring market is segmented based on product, technology,
class of drug, end user, and region.
Based on technology, market is further fragmented into immunoassays, chromatography-ms
and others. Amongst these, immunoassays segment held the largest share in FY
2020, since they are highly reliable and render precise and accurate results.
The segmental growth is also driven by the convenience of the method and the
fact that it requires minimal training for the handling of immunoassay equipment.
Based on end user, the market is further segmented into hospital and private
labs out of which hospital segment is expected to continue its market dominance
until FY 2026.
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Some of the leading players in India therapeutic drug
monitoring are Roche Diagnostics India Pvt Ltd, Abbott India Limited, bioMérieux
India, Bio-Rad laboratories India Pvt.Ltd, Thermo Fisher Scientific, Danaher
Corporation, Siemens Healthineers India, Randox Laboratories (India) Private
Limited, Sekisui Chemical India Private Limited, etc. “India
therapeutic drug monitoring market is anticipated to witness a significant
growth over the next five years owing to the technological advancements
evolving in the healthcare sector.” said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“India Therapeutic Drug Monitoring Market By Product, By
Technology, By Class of Drug, By End User, By Region, Competition, Forecast
& Opportunities, FY 2026” has evaluated
the future growth potential of India therapeutic drug monitoring market and
provided statistics & information on market size, shares, 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 India therapeutic drug
monitoring market.
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