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Therapeutic Drug Monitoring Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2023
Market Outline: Global Therapeutic Drug Monitoring MarketTherapeutic drug monitoring refers to the monitoring of drug concentrations in the body fluids, usually plasma, during the treatment or diagnosis of the condition or disease. The therapeutic drug monitoring is done for the specific drugs only because many drugs are not clearly related to their effects. The therapeutic drug monitoring aims to reduce the toxicity assisted with diagnosis or helps to enhance the drug efficiency. Some of the drugs have narrow therapeutic window. If the concentration is above the upper limit, it shows toxic effects. If the drug is below the lower level, it will not show therapeutic effect. Especially, for these type of drugs, therapeutic drug monitoring is used. Therapeutic drug monitoring helps the physicians to optimise the drug for getting the therapeutic outcome.
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Market dynamics: Global Therapeutic Drug Monitoring Market
Global therapeutic drug monitoring is mainly driven by the rise in demand for the administration of personalized dosage of the medicine and technological advancements in tests that are used to monitor the drug therapeutics. In addition, prevalence of the psychiatric diseases and cancer which need the drug monitoring for the optimum therapeutic outcomes and advantages such as dose optimisation and applications in personalized medicine expected to boost the therapeutic drug monitoring market over the forecast period. Furthermore, advent of biomarker identification for cancer diagnostics expected to benefit the growth of global therapeutic drug monitoring market. However, high costs and lack of skilled professionals may hamper the global therapeutic drug monitoring market over coming years.
Market Scope: Global Therapeutic Drug Monitoring Market
Global Therapeutic Drug Monitoring market is segmented based on products, drug class, and end user
Based on product, global therapeutic drug monitoring market is segmented into
• Equipment
o Proteomics Equipment
o Immuno Assay Analysers
o Others
• Consumables
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Based on drug class, global therapeutic drug monitoring market is segmented into
• Antibiotics
• Immunosuppressant?s
• Anti-Epileptic Drugs
• Psychoactive Drugs
• Anti-Arrhythmic Drugs
• Others
Based on end user, global therapeutic drug monitoring market is segmented into
• Hospitals
• Clinical Laboratories
• Others
Market Summary: Global Therapeutic Drug Monitoring Market
Global therapeutic drug monitoring devices market expected to grow at significant rates owing to the rise in prevalence of neuronal disorders and cancers worldwide. According to World Health Organization (WHO), about 50 Mn people have epilepsy worldwide and 80% of people from low and middle-income countries. Companies operating in global therapeutic monitoring market are developing new innovative products and gaining the competitive advantage. For instance, in September 2012, Bruker Corporation launched Toxtyper, an automated clinical spectroscopy solution for toxicology laboratories in Europe. Toxtyper is faster and reliable solution for the toxics and abusive drug monitoring. Furthermore, companies are adopting the merger and acquisition strategies to strengthen its product portfolio and increase their market position.
Regional Analysis: Global Therapeutic Drug Monitoring Market
Geographically therapeutic drug monitoring market is divided into five key regions, i.e. North America, Europe, Asia- Pacific, Latin America, and The Middle East & Africa. North America expected to have the major market share in global therapeutic drug monitoring owing to the rise in demand for metabolomics studies and high rate of organ transplantation. In addition, growth in the pharmacodynamics and kinetic studies for the dosage optimisation and growth in demand for the personalized medicine expected to boost the North America therapeutic drug monitoring market over the forecast period. Asia Pacific is expected to have the rapid growth rate owing to developing healthcare infrastructure, rise in R&D investments. Europe therapeutic drug monitoring market expected to have notable growth rate over the coming years due to rise in demand for personalized medicine and presence of key market players in the region.
Competition Assessment: Global Therapeutic Drug Monitoring Market
Key player's profiles in global therapeutic drug monitoring market include
• Beckman Coulter Inc. (U.S.)
• Hoffmann-La Roche (U.S.)
• Bio-Rad Laboratories Inc. (U.S.)
• Thermo Fisher Scientific (U.S.)
• Siemens Healthineers (Siemens AG (Germany)
• Alere Inc. (U.S.)
• Diagnostics GmbH (Germany)
• BÜHLMANN Laboratories AG (Germany)
• bioMérieux (U.S.)
• Merck Millipore (E. Merck KG) (Germany)
• DiaSorin (Italy)
• Myriad Genetics (U.S.)
• Miraca Life Sciences (Miraca Holdings Inc.) (Japan)
Notable Market Developments: Global Therapeutic Drug Monitoring Market
• In January 2016, BÜHLMANN launched Quantum Blue Infliximab trough level rapid test for plasma level monitoring of TNF-alpha monoclonal antibody for IBD patients.
• In July 2015, Bio-Techne Corporation acquired Cliniqa Corporation to strengthen its portfolio and market position.
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