Therapeutic Drug Monitoring Market by Product (Consumables, Data Management Services, Equipment), Technology (Chromatography-MS, Immunoassays, Proteomic Technologies), Drug Class, End-User - Global Forecast 2024-2030

Therapeutic Drug Monitoring Market by Product (Consumables, Data Management Services, Equipment), Technology (Chromatography-MS, Immunoassays, Proteomic Technologies), Drug Class, End-User - Global Forecast 2024-2030

The Therapeutic Drug Monitoring Market size was estimated at USD 3.79 billion in 2023 and expected to reach USD 4.38 billion in 2024, at a CAGR 16.11% to reach USD 10.78 billion by 2030.

Therapeutic drug monitoring is the clinical testing process of measuring plasma, serum, or blood drug concentrations. These therapeutic drug monitoring processes enable designing the patient-specific dosage regimen, optimizing the effectiveness of drugs, and maintaining a certain level of drug substance in patients’ bodies. The increase in chronic disease incidences and growth in the healthcare and pharmaceutical industries create the need for therapeutic drug monitoring to monitor drug dosage safety and efficacy effectively. However, the limited availability of skilled laboratory technicians and inadequate reimbursement policies is hampering the growth of the market. Furthermore, the developments in immunoassay and other therapeutic drug monitoring technologies are creating opportunities for market growth.

Regional Insights

The therapeutic drug monitoring market shows a highly evolving landscape in the Americas owing to the increasing demand for organ transplantation, usage of precision medicines, and applications of TDM in healthcare areas, including hospital labs and private labs. The rising prevalence of chronic diseases, and increasing consumer switch towards personalized medications, tremendously increase the demand for therapeutic drug monitoring for drug development process in APAC and EMEA regions. European governments have shifted their focus towards launching the Framework Programme for Research and Technological Development, which aims to develop new personalized medicine leading to a rise in investment and funding. Governments worldwide are focusing on accelerating genomic research activities for the development of different types of drugs, and recognizing the clinical benefits of therapeutic drug monitoring is expected to raise demand for TDM from hospitals worldwide for better treatment outcomes with minimum side effects from the medication.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Therapeutic Drug Monitoring Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Increased Demand for Personalized Medicine
    • Rising Adoption of Therapeutic Drug Monitoring Across Various Therapeutic Fields
    • Growing Use and Importance in Patients with Solid Organ Transplantation
    • Market Restraints
      • Inadequate Reimbursement Policies
      • Need of High Capital Investments
      • Market Opportunities
        • Future Perspectives of Therapeutic Drug Monitoring in Developing Nations
        • Developments in Immunoassay and Other Therapeutic Drug Monitoring Technologies
        • Market Challenges
          • Clinical Challenges and Limited Availability of Skilled Laboratory Technicians
          • Market Segmentation Analysis
            • Product: Rising demand for data management services for efficient drug management
            • End-User: Increasing demand from hospitals where accurate drug management is essential
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Therapeutic Drug Monitoring Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Therapeutic Drug Monitoring Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • Capitainer announces collaboration with AstraZeneca.
              
              Capitainer, a leading provider of microsampling solutions, has announced a collaboration with AstraZeneca, one of the world's largest pharmaceutical companies. The partnership aims to develop innovative technologies for therapeutic drug monitoring, helping clinicians to optimize patient treatment and improve health outcomes. With Capitainer's cutting-edge sampling technology and AstraZeneca's extensive experience in drug development, the collaboration has the potential to make a significant impact on the future of healthcare. This exciting partnership represents a key step forward in the field of therapeutic drug monitoring, and we look forward to seeing the results of their collaboration.
              
              Novo Holdings invests in proteomics technology company, Evosep.
              
              Novo Holdings, a renowned Danish firm, recently invested in Evosep, a proteomics technology company. Evosep uses groundbreaking approaches to protein analysis to develop innovative solutions to further research on proteomics, which is the study of the proteins that make up biological systems. This partnership will allow Evosep to further develop its cutting-edge technologies, catering to the growing need for advanced proteomics solutions. The collaboration between Novo Holdings and Evosep will not only improve the products and services offered by the latter, but also open new doors for therapeutic drug monitoring, which is an essential component of pharmaceutical research. With the integration of Evosep's proteomics platforms, researchers can now perform highly detailed protein analysis in a quicker, more cost-effective manner. The potential impact of this recent investment can revolutionize the way drugs are developed and monitored, paving the way for an exciting future in the field of proteomics.
              
              AegirBio AB enters into an agreement with Atlas Special Opportunities, LLC regarding convertible bonds of SEK 55 million with attached warrants to intensify investments in i.a. TDM and saliva sampling.
              
              AegirBio AB, a biotech company based in Sweden, has recently entered into a strategic agreement with Atlas Special Opportunities LLC, a reputable investment firm. The agreement pertains to the financing of convertible bonds to further develop AegirBio's technology for therapeutic drug monitoring. This partnership marks a significant milestone for AegirBio, as it signifies the tremendous growth potential of the company's innovative technology in the healthcare industry. With a focus on providing reliable and accurate drug monitoring solutions, AegirBio is poised to further solidify its position in the market and meet the increasing demand for personalized and precise medicine.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Therapeutic Drug Monitoring Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Therapeutic Drug Monitoring Market, highlighting leading vendors and their innovative profiles. These include Abbott Laboratories, Agilent Technologies, Inc., apDia Group, ARK Diagnostics, Inc., ARUP Laboratories, Assay Genie, Bio-Rad Laboratories, Inc., bioMérieux SA, Bühlmann Laboratories AG, Cambridge Life Sciences Limited, Cardinal Health, Inc., Chromsystems Instruments & Chemicals GmbH, Danaher Corporation, DiaSorin SpA, DiaSystem Scandinavia AB, Eagle Biosciences, Inc., Exagen Inc., F. Hoffmann-La Roche AG, Grifols, S.A., H.U. Group Holdings, Inc., Krishgen Biosystems, Merck KGaA, Myriad Genetics, Inc., Neoteryx, LLC by Trajan Group, OneCare Media, LLC, Pfizer Inc., R-Biopharm AG, Randox Laboratories, Ltd., Sekisui Chemical Co Ltd., Siemens Healthineers AG, Svar Life Science AB, Tecan Trading AG, Theradiag SA, Thermo Fisher Scientific, Inc., and Veolia Group.
            
            Market Segmentation & Coverage
            
            This research report categorizes the Therapeutic Drug Monitoring Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Product
              • Consumables
              • Data Management Services
              • Equipment
                • Chromatography & MS Detectors
                • Clinical Chemistry Analyzers
                • Immunoassay Analyzers
                • Technology
                  • Chromatography-MS
                    • GC-MS
                    • LC-MS
                    • Immunoassays
                      • Chemiluminescence Immunoassays
                      • Colorimetric Immunoassays
                      • Fluorescence Immunoassays
                      • Radioimmunoassays
                      • Proteomic Technologies
                      • Drug Class
                        • Antiarrhythmic Drugs
                        • Antibiotic Drugs
                        • Antiepileptic Drugs
                        • Bronchodilator Drugs
                        • Immunosuppressant Drugs
                        • Psychoactive Drugs
                        • End-User
                          • Hospital Labs
                          • Private Labs
                          • Region
                            • Americas
                              • Argentina
                              • Brazil
                              • Canada
                              • Mexico
                              • United States
                                • California
                                • Florida
                                • Illinois
                                • New York
                                • Ohio
                                • Pennsylvania
                                • Texas
                                • Asia-Pacific
                                  • Australia
                                  • China
                                  • India
                                  • Indonesia
                                  • Japan
                                  • Malaysia
                                  • Philippines
                                  • Singapore
                                  • South Korea
                                  • Taiwan
                                  • Thailand
                                  • Vietnam
                                  • Europe, Middle East & Africa
                                    • Denmark
                                    • Egypt
                                    • Finland
                                    • France
                                    • Germany
                                    • Israel
                                    • Italy
                                    • Netherlands
                                    • Nigeria
                                    • Norway
                                    • Poland
                                    • Qatar
                                    • Russia
                                    • Saudi Arabia
                                    • South Africa
                                    • Spain
                                    • Sweden
                                    • Switzerland
                                    • Turkey
                                    • United Arab Emirates
                                    • United Kingdom
                                    
                                    
                                    Please Note: PDF & Excel + Online Access - 1 Year