The Global Therapeutic Drug Monitoring Market in terms of revenue was estimated to be worth $1.8 billion in 2022 and is poised to reach $2.9 billion by 2027, growing at a CAGR of 9.6% from 2022 to 2027. The growth of this market is primarily driven by an amplifying focus on research experimentation associated with therapeutic drug monitoring and an increase in severe diseases. However, the requirement for massive capital investments and the hesitancy of compact hospitals to offer therapeutic drug monitoring services may restrain the growth of this market.
Attractive Opportunities in the Therapeutic Drug Monitoring Market
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Browse in-depth TOC on "Antiepileptic Drug Monitoring Market"
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Germany in European Antibiotic Therapeutic drug monitoring market to witness the highest shares during the forecast period.
The Europe Therapeutic Drug Monitoring Market is segmented into Germany, Italy, France, Spain, the UK, and the Rest of Europe. Germany is projected to occupy the highest share during the forecast period. The major factors contributing to the growth of this market are the rising geriatric population, increasing incidence of chronic and infectious diseases, rising healthcare expenditure, and increasing RD investments.
Japan dominates the Asia Pacific Immunosuppressant Drug Monitoring industry
The APAC Therapeutic Drug Monitoring market is segmented into Japan, China, and India. In 2021, Japan accounted for the largest share of the Asian Therapeutic Drug Monitoring market. The large share of Japan can be attributed to the large geriatric population in the country, the rising prevalence of chronic medical conditions such as cancer, growing budgetary allocations for healthcare, and the presence of a well-developed healthcare system.
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Antiarrhythmic Drug Monitoring Industry Dynamics:
Drivers:
- Importance of TDM in organ transplant procedures
- Use of TDM across various therapeutic fields
- Increasing preference for precision medicine
- Growing focus on RD related to TDM
- Technological advancements
Restraints:
- Requirement of high capital investments
- Reluctance of small hospitals to offer TDM services
Opportunities:
- Increasing adoption in the treatment of autoimmune diseases
Challenges:
- Alternatives to conventional TDM
- Operational barriers faced in conducting TDM
Key Market Players:
The significant players in the Therapeutic Drug Monitoring industry are Abbott (US), Thermo Fisher Scientific (US), F. Hoffmann-La Roche Ltd. (Switzerland), Siemens Healthineers AG (Germany), Danaher Corporation (US), Bio-Rad Laboratories (US), bioMérieux SA (France), Theradiag SA (France), Grifols S.A. (Spain), Exagen Inc. (US), R-Biopharm AG (Germany), ARK Diagnostics, Inc. (US), apDia Group (Belgium), Immundiagnostik AG (Germany), and Sekisui Medical Co. Ltd. (Japan).
Recent Developments:
- In May 22, Theradiag (France) Announced the launch of ez-Track1, a Point-of-Care Testing solution for TDM.
- In Jan 2021, Theradiag (France) Announced CE marking for four new i-Tracker test kits for biotherapy monitoring.
Report Objectives
- To define, describe, and forecast the global Therapeutic Drug Monitoring market based on product, and region
- To provide detailed information regarding the major factors influencing the growth of the market (drivers, opportunities, and industry-specific challenges)
- To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the total market
- To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
- To forecast the size of market segments with respect to four main regions—North America, Europe, Asia Pacific, and the Rest of the World (RoW)2
- To strategically profile key players and comprehensively analyze their product portfolios, market shares, and core competencies3
- To track and analyze competitive developments such as acquisitions, expansions, new product launches, and partnerships in the Therapeutic Drug Monitoring market
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