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(Health-NewsWire.Net, November 23, 2021 ) MarketsandMarkets Research Report's View on Revenue Impact?
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.
Factors Responsible for Growth and In-Depth Analysis?
Therapeutic drug monitoring (TDM) is used to measure the concentration of specific drugs in body fluids, which helps in the management of drug therapy for the cure, alleviation, or prevention of disease.
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.
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Leading Key Players and Analysis:
The major players operating in TDM 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), ARK Diagnostics, Inc. (U.S.), Chromsystems Instruments & Chemicals GmbH (Germany), Grifols (Spain), Exagen Inc. (U.S.), Theradiag (France), R-Biopharm AG (Germany), apDia Group (Belgium), BioTeZ Berlin-Buch GmbH (Belgium), Eagle Biosciences Inc. (U.S.), JASEM Laboratory Systems and Solutions A.S (Turkey), Aalto Scientific (U.S.), Immundiagnostik AG (Germany), and UTAK (U.S.).
Abbott Laboratories (US) 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.
Geographical Analysis in Detailed?
The therapeutic drug monitoring (TDM) market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2019, North America commanded the largest share of the therapeutic drug monitoring market. Increasing per capita healthcare expenditure and the presence of technologically advanced healthcare infrastructure in the region, coupled with initiatives taken by different government associations, are anticipated to boost the market growth in the region.
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Industry Segmentation:
Immunoassays is expected to hold the largest share of the therapeutic drug monitoring market in 2020
Based on technology, segmented into immunoassays and chromatography-MS. In 2019, immunoassays segment accounted for the largest market share, due to the increasing incidence of chronic and infectious diseases and technological innovation.
Antiepileptic drugs is expected to hold the largest share of the therapeutic drug monitoring market in 2020
On the basis of class of drug, the TDM Market is segmented into antiepileptic drugs, antibiotic drugs, immunosuppressant drugs, antiarrhythmic drugs, bronchodilator drugs, psychoactive agents, and other drugs. During 2019, antiepileptic drugs held the largest share among the class of drug due to the high complexity and heterogeneity of epilepsy, lack of biological markers or specific clinical signs aside from the frequency of seizures to assess treatment efficacy or toxicity, and the highly complex pharmacokinetics of these drugs.
Hospital laboratories segment commanded the largest share in 2019
By end user, the TDM Market is segmented into hospital laboratories, commercial & private laboratories, and other end users. Hospital laboratories accounted for the largest share of the therapeutic drug monitoring market in 2019. The large share of this segment can be attributed to factors such as the availability of advanced healthcare facilities in hospitals and the rising incidences of chronic diseases.
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MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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