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(Health-NewsWire.Net, April 13, 2021 ) The study involved major activities to estimate the current size of the Therapeutic Drug Monitoring Market. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research.
According to the new market research report “Therapeutic Drug Monitoring Market by Product (Equipment (Immunoassay Analyzers), Consumables), Technology (Immunoassays, Chromatography-MS), Class of Drugs (Antibiotic Drugs, Bronchodilator Drugs), End User – Global Forecast to 2025” published by MarketsandMarkets™, the TDM Market growth is largely driven by factors such as the rising number of organ transplant procedures, the use of TDM across various therapeutic fields, the increasing preference for precision medicine, a growing focus on R&D related to TDM, and technological advancements in immunoassay instruments. Increasing adoption in the treatment of autoimmune diseases is expected to provide a wide range of growth opportunities for players in the market.
The Global Therapeutic Drug Monitoring Market is projected to reach USD 2.0 billion by 2025 from USD 1.4 billion in 2020, at a CAGR of 6.9% from 2020 to 2025.
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GROWTH OPPORTUNITY: Increasing adoption in the treatment of autoimmune diseases;
TDM is being used for Methotrexate (MTX), a folic acid analog used as a therapeutic agent for the treatment of autoimmune disease. MTX was initially used at low doses to treat chronic autoimmune disorders such as RA and Crohn’s disease. Owing to its low cost, safety, effectiveness, and clinical history, MTX is the first-line treatment for RA. However, nearly 40% of patients with RA do not respond to MTX or show clinical improvement. The reasons for non-response include a variation between patients in MTX uptake or metabolism, non-compliance with the drug regimen, or prescription of insufficient MTX dose. TDM for MTX targets measures the level of MTX-PGs in the blood cells of patients with RA and correlates these levels with response to therapy, which shows its potential applications in the area.
Leading Key-Players: The major players operating in Therapeutic Drug Monitoring Market are Abbott Laboratories (U.S.), F. Hoffmann-La Roche (Switzerland), Siemens Healthineers (Germany), Thermo Fisher Scientific (U.S.), Danaher Corporation (U.S.), Bio-Rad Laboratories (U.S.), bioMérieux (France), BÜHLMANN Laboratories (Switzerland), SEKISUI MEDICAL (Japan), Randox Laboratories (Ireland), DiaSystem Scandinavia AB (Sweden), Cambridge Life Sciences Limited (United Kingdom)
Abbott Laboratories (US) – Abbott has a strong presence in the US and seeks to further enhance its geographical presence by strengthening its business operations in emerging and high-growth markets. The company’s extensive R&D activities for product development and ongoing clinical trials for newly developed medicines are expected to drive the growth of its market share in the coming years. In 2019, Abbott invested USD 2.4 billion in R&D activities, of which USD 533 million was invested for the development of technologically advanced diagnostic products.
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Recent developments in TDM Market:
- In 2020, F. Hoffmann-La Roche established its presence in Cape Town, South Africa to increase their research, development and biotech production capabilities. The site will be built, featuring laboratory, biotech production and office workspace.
- In 2019, Theradiag signed distribution agreement in China, in Hong Kong-Macao and in Taiwan, to distribute its main TRACKER range biotherapy monitoring tests. These initiatives have helped the company to hold a strong position in the Asian Therapeutic Drug Monitoring Market.
- In 2018, ARK Diagnostics, Inc. received 510(k) clearance from FDA for the ARK Tramadol Assay.
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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