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 according to a new report by MarketsandMarkets™. The growth of this market is majorly driven by the Increasing incidence of chronic and infectious diseases and growing awareness about early disease diagnosis. However, Alternatives to conventional TDM may challenge the growth of this market.
Attractive Opportunities in the Therapeutic Drug Monitoring Industry
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Browse in-depth TOC on "Antiepileptic Drug Monitoring Industry"
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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 R&D 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.
chemiluminescence immunoassays (CLIAs) in the product's immunoassay therapeutic drug monitoring segment to witness the highest growth as well as the largest share in the therapeutic drug monitoring market during the forecast period.
The market is divided into chemiluminescence immunoassays, colorimetric immunoassays, fluorescence immunoassays, radioimmunoassays, and other immunoassays based on the immunoassay. The chemiluminescence immunoassays segment is projected to grow at the highest CAGR during the forecast period because these assays are commonly used in TDM in either enzyme-amplified or direct chemiluminescence measurements.
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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 R&D 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
Report Link: ( Therapeutic Drug Monitoring Market )
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