The global TherapeuticDrug Monitoring market size is expected to value at USD 3.37 billion by 2024. The market is subject to witness a substantial growth due to the introduction of the Point-of-Care (PoC) devices in the market and development of the personalized predictive and preventive medicine. Factors responsible for the robust growth of therapeutic drug monitoring (TDM) market, in the recent years, include deriving personalized or tailor-made treatment plans for patients and increasing adoption of the Point-of-Care (PoC) diagnostic devices to carry out quantitative measurements of the drug concentration. Advent of the precision medicine for the healthcare sectoris expected to drive the growth of the market.
However,
lack of awareness among general population and inability of the Point-of-Care
(PoC) to broaden its application base for patient monitoring are expected to
restrain market growth to a certain extent. Yet, recent research &
development activities in the therapeutic drug coupled with increase in funding
for the development of novel drugs for patient monitoring are expected to gain
traction in the near future.
Globally,
the therapeutic drug monitoring industry is predicted to grow at higher CAGR in
the forecast period, providing numerous opportunities for market players to
invest in development of the advanced therapeutic drug monitoring solutions.
The therapeutic drug monitoring is performed in clinics, hospitals and
emergency units with the help of gathering critical patient information like
age group, metabolism, and drug dosage history.
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Therapeutic
drug monitoring solutions involves the diagnosis of complex heath conditions
such as toxicity level in the body, thus allowing determination of the optimal
drug dose for a particular genetic profile of an individual. Moreover, the
therapeutic drug monitoring (TDM) helps to identify major reasons for failed
therapy outcomes in an accurate. This allows healthcare professionals to
distinguish between the perplexing root causes, ineffective drug dosage,
non-compliance of drug delivery system, and adverse effects caused by
medications. These factors are anticipated to stimulate the growth of
therapeutic drug monitoring industry over the forecast period.
Furthermore,
recent R&D activities in regards to the development of innovative drug
compositions in the pipeline by prominent industry players is considered as one
of the major driving factors for market growth, in the last few years. Growing
number of successful clinical trials is expected to expand consumer base for
therapeutics drug monitoring industry with growing influence of drug portfolio.
The therapeutic drug monitoring market is broadly categorized into six major
types based on the types of technology such as immunoassays, proteomic
technologies, thin-layered chromatography, spectrophotometry, polarimetry, and
electrophoresis.
The
immunoassay technology is considered as one of the fastest growing segment in
the therapeutic drug monitoring industry with substantial revenue generation in
the last couple of years. Growing popularity of the immunoassay segment is
attributed to the easy availability of highly specific and reliable
immunoassays, and increasing implementation of advanced clinical solutions. The
proteomics segment has also witnessed massive growth, in the recent years,
owing to its ability to incorporate a variety of bio specimens.
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The
therapeutic drug monitoring market is divided by region as North America,
Europe, Asia-Pacific, Latin America and Africa. North America has shown major
growth in recent years owing to the rise in the implementation of latest
technologies in medicine & pharmaceuticals and existence of
well-established healthcare infrastructure in the region. Asia-Pacific region
is predicted to hold major market share in the therapeutic drug monitoring with
massive growth in forecast period.
Countries
such as India, China, Malaysia and Japan are leading the Asia-Pacific market
with favorable government laws & regulations, improved healthcare
infrastructure, rising per capita income, higher approval rate of therapeutic
drugs, and significant investment by leading industry players considering
potential growth opportunities in the region.
The
key players in the therapeutic drug monitoring industry are Roche AG, Siemens
Healthcare GmbH, Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc.,
Beckman Coulter, Inc., Abbott Laboratories, Inc., Agilent Technologies, Inc.,
bioMérieux, Inc., Alere, Inc., and Probe Scientific Ltd.
Market
Segment:
Therapeutic
Drug Monitoring Market, Product Outlook, by Revenue (USD Million, 2013 - 2024)
• Consumables
• Equipment
• Others
Therapeutic
Drug Monitoring Market, Technology Outlook, by Revenue (USD Million, 2013 -
2024)
• Immunoassays
• Proteomic technologies
• Others
Therapeutic
Drug Monitoring Market Drug, Class Outlook, by Revenue (USD Million, 2013 -
2024)
• Anti-epileptics
• Antibiotics
• Immunosuppressants
• Psychoactive drugs
• Antiarrhythmic drugs
• Others
Therapeutic
Drug Monitoring Market, End-use Outlook, by Revenue (USD Million, 2013 - 2024)
• Hospital labs
• Private labs
• Others
Therapeutic
Drug Monitoring Market, Regional Outlook, by Revenue (USD Million, 2013 - 2024)
• North America
• U.S.
• Canada
• Europe
• UK
• Germany
• Asia Pacific
• Japan
• China
• Latin America
• Brazil
• MEA
• South Africa
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