Therapeutic Drug Monitoring Market By Product (Consumables, Equipment), By Technology (Immunoassays, Chromatography-Spectrometry, Others), By Drug Class (Antiepileptic Drugs, Antiarrhythmic Drugs, Immunosuppressant Drugs, Antibiotic Drugs, Others), By End Users (Hospital, Diagnostic labs, Research and Academic Institutes): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global therapeutic drug monitoring market was valued at $1,932.93 million in 2021 and is projected to reach $4,415.3 million by 2031, registering a CAGR of 8.5% from 2022 to 2031. Therapeutic drug monitoring (TDM) is a clinical practice in which the concentration of a specific drug in a patient's blood is measured to optimize dosage regimens, and treatment, and minimize toxicity. Therapeutic drug monitoring is used to account for individual variability in drug metabolism, minimize the risk of toxicity, identify and manage drug interactions, and improve the safety and efficacy of drug treatment. It is a valuable tool in the management of drug treatment, offering numerous advantages in terms of safety, efficacy, and personalized care. Therapeutic drug concentration is monitored through immunoassays, calorimetric immunoassays, and chromatography-mass spectrometry.
The therapeutic drug monitoring market growth is driven by the growing prevalence of chronic diseases, an increase in awareness about therapeutic drug monitoring, and a rise in demand for therapeutic drug monitoring services in emerging markets. The rise in the prevalence of chronic diseases such as cardiovascular diseases, cancer, and neurodegenerative diseases, which require long-term treatment with drugs that have a narrow therapeutic window, is driving the demand for therapeutic drug monitoring services. For instance, according to International Diabetes Federation, in 2021, it was estimated that about 537 million adults (20-79 years) are living with diabetes in the world and is expected to reach 643 million by 2030. Thus, an increase in the prevalence of chronic diseases and the need for long-term treatment is expected to boost the demand for therapeutic drug monitoring services, which, in turn, contribute toward market growth. Furthermore, the increasing demand for advanced and innovative consumables such as immunoassays is the key factor contributing to the growth of the market. For instance, Eagle Biosciences offers various therapeutic drug monitoring assays such as Alemtuzumab ELISA Assay which is used for the quantitative determination of Alemtuzumab (Lemrada) drug in in the patient’s blood. However, a lack of skilled professionals present in the market, and technical errors in sample collection can limit the adoption of therapeutic drug monitoring products, which, in turn, hinders the growth of the market in upcoming years. On the other hand, increased focus on R&D activities for therapeutic drug monitoring and growth potential in emerging markets are expected to create immense opportunities for therapeutic drug monitoring during the forecast period.
The therapeutic drug monitoring market is segmented on the basis of product, technology, drug class, end user and region. As per product, the market is classified into consumables and equipment. On the basis of technology, the market is segmented into immunoassay, chromatography-spectrometry, and others. According to the drug class, the market is divided into anti-epileptic drugs, antibiotics drugs, anti-arrhythmic drugs, immunosuppressants, and others.
Depending on end-user, the market is classified into hospitals, diagnostic lab, and research and academic institutes. Region wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and the Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and Rest of LAMEA). Major key players that operate in the global therapeutic drug monitoring market are Abbott Laboratories, Biomerieux SA, Bio-Rad Laboratories, Inc., Chromsystems Instruments & Chemicals GmbH, Danaher Corporation, Exagen Inc, F. Hoffmann-La Roche Ltd., Sekisui Chemical Co Ltd., Siemens AG, and Thermo Fisher Scientific Inc.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the therapeutic drug monitoring market analysis from 2021 to 2031 to identify the prevailing therapeutic drug monitoring market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the therapeutic drug monitoring market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global therapeutic drug monitoring market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Technology
Immunoassays
Chromatography-Spectrometry
Others
By Product
Consumables
Equipment
By Drug Class
Antiepileptic Drugs
Antiarrhythmic Drugs
Immunosuppressant Drugs
Antibiotic Drugs
Others
By End Users
Hospital
Diagnostic labs
Research and Academic Institutes
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
F. Hoffmann-La Roche Ltd.
Abbott Laboratories
Biomerieux SA
Thermo Fisher Scientific Inc.
Siemens AG
Chromsystems Instruments & Chemicals GmbH
Bio-Rad Laboratories, Inc.
Danaher Corporation
SEKISUI CHEMICAL CO., LTD.
Exagen Inc.
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