Therapeutic Drug Monitoring Market to be Dominated by Chemiluminescence Immunoassay Through 2028
Increasing demand for therapeutic drug monitoring in organ
transplant is driving the growth of the market in the forecast period 2024-2028.
According to the TechSci Research
report, “Therapeutic Drug Monitoring Market - Global Industry
Size, Share, Trends, Opportunity, and Forecast, 2018-2028F”, Global Therapeutic Drug
Monitoring market is projected to increase at an impressive
rate in the forecast period 2024-2028. Applications for therapeutic drug
monitoring include the diagnosis of unforeseen consequences, such as toxicity,
and the identification and subsequent customizing of the ideal drug dose based
on the genetic profile of the patient in question. Therapeutic Drug Monitoring
also helps doctors in distinguishing between ineffective drug treatments,
patient’s non-compliance to medication, and adverse drug reactions that may be
confused with the effects of the underlying condition. This helps doctors
diagnose the underlying cause of failed therapy outcomes with accuracy, thereby
supporting the growth of global therapeutic drug monitoring market. The rise of
the Therapeutic Drug Monitoring market is anticipated to be aided by the rising
demand for the administration of individualized dosage patterns during the
anticipated time frame. These factors are expected to drive the growth of the
market.
However, complications
associated with eternal feeding devices and low awareness regarding
applications of eternal feeding devices are expected to hamper the growth of
the overall market throughout the forecast period.
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TOC on the "Therapeutic Drug Monitoring Market.”
Global Therapeutic Drug Monitoring market is segmented based on product, technology,
class of drug, and end-use.
Based on product, the market
is categorized into consumables, equipment, immunoassay analyzers,
chromatography & MS detectors, and clinical chemistry analyzers. By technology, global therapeutic drug
monitoring market can be categorized into immunoassays and chromatography-mass
spectrometry. Immunoassays can be further sub-segmented into Chemiluminescence
Immunoassay, Colorimetric Immunoassay, Fluorescence, Immunoassay,
Radioimmunoassay, and Others. The immunoassay segment dominated the market in
2022 and will keep maintaining its dominance through 2028 on account of the
availability of highly specific and reliable immunoassays. Among the different
immunoassay’s, the chemiluminescence immunoassay segment dominated the market
in 2022 and is expected to continue maintaining its dominance through 2028. This
can be attributed to the fact that these assays are commonly used in
therapeutic drug monitoring in either enzyme-amplified or direct
chemiluminescent measurements.
Based on class of drug, the
market is divided into Antiepileptic Drug, Antibiotic Drug, Immunosuppressant
Drug, Antiarrhythmic Drug, Bronchodilator Drug, Psychoactive Drug, and Others.
Due to the rising incidence of epilepsy and seizures, as well as the ensuing
explosive growth in the number of anti-epileptic medications, the
anti-epileptics sector is expected to hold the greatest market share throughout
the forecast period.
In terms of end user, global
therapeutic drug monitoring market can be divided into Hospital Labs,
Commercial & Private Lab, and Others. The hospital labs segment is expected
to dominate the global therapeutic drug monitoring market through 2028. This is
mainly because the majority of therapeutic drug monitoring is carried out in
hospitals due to the availability of accurate patient information, such as age,
metabolism, ethnicity, and drug performance history. Additionally, the
requirement of correct patient details and history helps in devising accurate
treatment regime, thereby contributing to an increase in demand for therapeutic
drug monitoring from hospital segment.
Major companies operating
in the Therapeutic Drug Monitoring market are:
- Roche AG
- Siemens
Healthcare GmbH
- Thermo
Fisher Scientific, Inc.
- Bio-Rad
Laboratories, Inc.
- Beckman
Coulter, Inc.
- Abbott
Laboratories, Inc.
- Agilent
Technologies, Inc.
- bioMérieux,
Inc.
- Alere, Inc.
Various companies operating in the market are following strategies such as
mergers and acquisitions, product/software/platform launches, partnerships
& collaborations, among others, in order to stay competitive and have an
edge over other players operating in the global therapeutic drug monitoring
market. For instance, the Wyoming Board of Pharmacy and Bamboo
Health, formerly Appriss Health and PatientPing, announced a partnership on
June 29 in May 2022 to create a solution for the Wyoming Prescription Drug
Monitoring Program (PDMP).
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The therapeutic drug monitoring market in North America was responsible for
around half of the total revenue. One of the key factors influencing the huge
market share is the increased prevalence of organ transplantation combined with
the widespread acceptance and progressive use of various metabolite monitoring
techniques. Additionally, growing geriatric population in the region especially
in countries like United States which are susceptible to various kinds of
diseases is further expected to contribute to the growth of therapeutic drug
monitoring market in the region during the forecast period.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based global management
consulting firm.
“Therapeutic Drug Monitoring Market -
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Product (Consumables,
Equipment, Immunoassay Analyzers, Chromatography & MS Detectors, Clinical Chemistry
Analyzers), By Technology (Immunoassays, Chromatography-Mass Spectrometry), By
Class of Drug (Antiepileptic Drug, Antibiotic Drug, Immunosuppressant Drug,
Antiarrhythmic Drug, Bronchodilator Drug, Psychoactive Drug, and Others), By End User (Hospital Labs, Commercial
& Private Lab, Others), By Region, and Competition,
has evaluated the future growth potential of 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 the Therapeutic Drug Monitoring market.”
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