Increasing organ transplantation cases globally, more number pharma companies involving in developing new methods for medical monitoring, increased public and private research funding and beneficial regulatory scenarios around the globe are fueling the market growth.
Market size: USD 1.28 billion
Market growth rate: 5.8%
Market trend: Product launches and advances in R&D
The global therapeutic drug monitoring market is expected to escalate from USD 1.28 billion in 2019 to USD 2.02 billion by 2027, with a CAGR of 5.8% through the forecast period.
Abbott, F. Hoffmann-La Roche, Bio-Rad Laboratories Inc., Beckman Coulter, Inc., Roche Diagnostics, Siemens Healthineers, Thermo Fisher Scientific, Danaher Corporation, Alpco, Randox Laboratories Ltd., and others.
Get a FREE Report Sample with Table of Contents and Figures @ https://www.reportsanddata.com/sample-enquiry-form/2274
Therapeutic drug monitoring is a specialized branch of clinical chemistry and pharmacology that measures and checks the medication concentration levels in the blood. Its primary focus is on the drugs with a limited therapeutic range. By altering the drug dose, the monitoring process is aimed at optimizing patient treatment for better results. It has been a common practice to change the drug dosage according to the condition of the patient being treated and the response received.
Therapeutic drug monitoring is essential for tracking a diverse range of diseases and conditions. The recent advent in the medicinal field is proving to be an innovative discovery. The industry players and leaders are implementing various tactics to provide better disease monitoring solutions. For example, in May 2019, Roche, a pioneer in advanced lab testing collaborated with an American mega-corporation, GE Healthcare, to launch NAVIFY Tumor board that enable more personalized cancer treatment options. This device is specially designed for cancer patients to have an optimal diagnosis and treatment plan.
The global therapeutic drug monitoring market is expanding due to various factors, including increasing awareness and adoption of drug monitoring procedures and governmental and non-governmental market investments and innovative strategies used by the leading players.
Some of the key factors driving the market growth are increasing organ transplantation cases globally, unfulfilled patient monitoring needs, more pharma companies involving in developing new methods for medical monitoring, increased public and private research funding and beneficial regulatory scenarios around the globe.
However, reimbursement concerns and scarcity of funds for clinical interpretations are some of the key barriers that could hamper the market expansion during the projection period.
To identify the key trends in the industry, click on the link below:
- The rising number of organ transplantations around the globe is a prominent factor boosting the therapeutic drug monitoring market in all the regions.
- The Asia Pacific region is expected to dominate the therapeutic drug monitoring market during the foreseen period with a CAGR of 6.9%, followed by North America and Europe. This is mainly due to untapped market potential in countries like India and China and the increasing efforts taken by the government to support the market.
- The European region is predicted to hold around a third of the market by 2027.
- As of 2019, the equipment sub-segment of the product type segment dominated the market share. The chief revenue of this product type is generated in the North American region, followed by Europe and the Asia Pacific. The demand for low-cost equipment from many South-East Asian countries is growing in the therapeutic drug monitoring industry.
- Consumable product type sector is expected to proliferate with a CAGR of 5.7% during the projected period. Increasing awareness about the consumables for therapeutic drug monitoring is the main factor for sector growth. However, the associated compensation concerns are a significant drawback for the market growth of this sector.
- Due to widespread use of these products, and better access to funds for producing therapeutic drug testing equipment, the hospital end-use market is expected to hit almost USD 1 billion by 2027.
- Scarcity of funds for clinical interpretations is expected to hamper the market expansion during the projection period.
Key market players:
- Thermo Fisher Scientific
- Hoffmann-La Roche
- Siemens Healthineers
- Beckman Coulter, Inc.,
- Roche Diagnostics
- Bio-Rad Laboratories Inc.
- Danaher Corporation
- Randox Laboratories Ltd
Early Diners Are Offered Free Customization
Get Attractive Discount on “Therapeutic Drug Monitoring Market Forecast to 2025” @ https://www.reportsanddata.com/discount-enquiry-form/2274
For the purpose of this report, Reports and Data has segmented the Therapeutic Drug Monitoring market on the basis of product type, technology type, drug type, end-use, and region:
Product Type (Revenue, USD Million; 2017–2027)
Technology Type (Revenue, USD Million; 2017–2027)
- Colorimetric Immunoassays
- Other Immunoassays
Class of Drug Type (Revenue, USD Million; 2017–2027)
- Antiarrhythmic Drugs
- Antibiotic Drugs
- Psychoactive Drugs
- Bronchodilator Drugs
- Antiepileptic Drugs
- Immunosuppressant Drugs
- Other Drug Classes
End-Use (Revenue, USD Million; 2017–2027)
- Commercial/Private Laboratories
- Hospital Laboratories
- Other End-Uses
Regional Outlook (Revenue in USD Million; 2017–2027)
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
Table of Contents:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018 – 2026
Chapter 3. Indicative Metrics
3.1. Increasing incidences of chronic and infectious diseases
3.2. Use in Monitoring of Biosimilars in Autoimmune Diseases
3.3. Technological advancements
3.4. Operational Barriers Faced while Conducting TDM Tests
Chapter 4. Therapeutic Drug Monitoring Segmentation & Impact Analysis
4.1. Therapeutic Drug Monitoring Segmentation Analysis
4.2. Therapeutic Drug Monitoring Market Value Chain Analysis, 2016-2026
4.3. Regulatory framework
4.4. Therapeutic Drug Monitoring Market Impact Analysis
4.4.1. Market driver analysis
220.127.116.11. Use in traditional anticancer therapies
18.104.22.168. Rising Number of Organ Transplant Procedures
4.4.2. Market restraint analysis
22.214.171.124. Reluctance in offering TDM service by small hospitals
4.5. Key opportunities prioritized
4.6. Therapeutic Drug Monitoring Pricing Analysis
4.7. Industry analysis – Porter’s
4.8. Therapeutic Drug Monitoring PESTEL Analysis
Ask for your specific company profile and country level customization on reports.
Get Insights into Our Other Trending HealthCare Reports:
Anesthetic Gas Monitor Market Size, Share & Analysis, By Type (BIS, Narcotrend, E-Entropy, Others), By Application (Surgical Use, ICU Monitoring), By Region, Forecast to 2027
Casting and Splinting Market Size, Share & Analysis, By Product Type (Castings, Splitting), By Material (Polyester, Polyethylene, Fiberglass, Plaster of Paris, Others), By Application (Hospitals, Clinics, Ambulatory Surgical Centers), By Region, Forecasts To 2017-2027
Nasal Masks Market Growth, Trends & Analysis, By Product (Masks, Tubes, Others), By End-Use (Hospitals, Clinics, Homecare Settings, Others), By Distribution Channel (Pharmacies, Online Stores, Direct Distributors, Others) By Region, Forecast To 2027
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.
Head of Business Development
40 Wall St. 28th floor New York City
NY 10005 United States
Direct Line: +1-212-710-1370
Facebook | LinkedIn | Twitter | Blogs