Therapeutic Drug Monitoring Marketto Grow at a Steady CAGR During Forecast Period – TechSci Research

Increase in awareness and acceptance of personalized medicines to drive the growth of global therapeutic drug monitoring market

New Delhi, August 07,202:According to TechSci Research,“Global Therapeutic Drug Monitoring MarketBy Technology(Immunoassays, Proteomic Technologies), By Drug Class(Antiarrhythmic Drugs, Immunosuppressants, Antiepileptic Drugs, Others), By Active Ingredient (Amikacin, Caffeine, Carbamazepine, Cyclosporine, Digitoxin, Digoxin, Disopyramide, Ethosuxamide, Gentamicin, Lidocaine, Lithium, Methotrexate, NAPA, Phenobarbital, Quinidine, Sirolimus, Tacrolimus, Vancomycin, Others), By End-User (Hospitals, Diagnostic Centres, Others), By Product (Immunoassay Equipment, Reagents, Other Consumables), By Region, Forecast& Opportunities, 2025”, the global therapeutic drug monitoringmarket is expected to grow at a steady CAGR rateduring the forecast periodon account ofgrowing demand for genetic testing.It’s a practice of measuring drug amount in bloodstream to maintain its effective concentration.It is used to identify therapeutic failure,avoid toxicity and adverse drug reactions.The reasons for growth of therapeutic drug monitoring includegrowing demand for personalized medicines and advanced technologies.Therapeutic drug monitoring is generally used for anti-cancer drug, organ transplant procedures, and advanced treatment therapies such as gene testing and proteomics.Increasing microbial resistance is another factor which has stressed on the manufacturing of personalized medicine and therapeutic drug monitoring market. There has been advances in the field of biomedical technology such as nano biosensors. Advancement in tools like spectrometry, assay kits, alternative matrices are the main factors responsible for growth of therapeutic drug monitoring market. 

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The global therapeutic drug monitoringmarket is segmented based ontechnology, drug class, active ingredient,end user,product,companyand region. Based on technology,immunoassays are expected to dominate the market in the forecast period as they are easy to perform and do not require specialized training.Based on drug class,Antiepileptic drugs led the market in 2019 as have high complexity and heterogeneityof epilepsy.Based on end user,hospitals segment is expected to dominate the market share in the forecast period.Hospitals have appropriate equipment and well skilled staff to derive meaningful interpretations from therapeutic drug monitoring (TDM) assays.Therefore, therapeutic drug monitoring products are increasingly deployed at hospitals.

Abbott Laboratories, F Hoffmann-La Roche, Danaher Corporation, Thermo Fisher Scientific, Siemens Healthinners, Buhlmann Laboratories, Biomerieux, ARK Diagnostics, Inc., SJK Global, LLC, Meridian Healthcare S.R.L., Randox Laboratories Ltd., Sekisui Medical Co. Ltd., North American Science Associates, Inc., Alfa Scientific Designs, Inc.are some of the leading players operating in global therapeutic drug monitoringmarket.The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.

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“North America is expected to dominate intheglobal therapeutic drug monitoringmarket during the forecast perioddue to technological advancements in healthcare and initiatives taken by government for the development of therapeutic drug monitoring in the region.Additionally, organ transportation and acceptance of therapeutic drug monitoring devices is high in countries present in the region, which is another reason for high share of the region.”said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Therapeutic Drug MonitoringMarket ByTechnology(Immunoassays, Proteomic Technologies), By Drug Class(Antiarrhythmic Drugs, Immunosuppressants, Antiepileptic Drugs, Others), By Active Ingredient (Amikacin, Caffeine, Carbamazepine, Cyclosporine, Digitoxin, Digoxin, Disopyramide, Ethosuxamide, Gentamicin, Lidocaine, Lithium, Methotrexate, NAPA, Phenobarbital, Quinidine, Sirolimus, Tacrolimus, Vancomycin, Others), By End-User (Hospitals, Diagnostic Centres, Others), By Product (Immunoassay Equipment, Reagents, Other Consumables), By Region, Forecast & Opportunities, 2025”, has evaluated the future growth potential of global therapeutic drug monitoringmarketand 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 global therapeutic drug monitoringmarket.

Corporate Comm India (CCI Newswire)