Therapeutic Drug Monitoring Market Size By Application, Growth Potential, Price Trend & Forecast 2020-2023

2020 Research Report on Global Therapeutic Drug Monitoring Market is a professional and comprehensive report on the Therapeutic Drug Monitoring industry.

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Key Players: F. Hoffmann-La Roche (Switzerland), Siemens Healthineers (Germany), and Abbott (US).

"The global therapeutic drug monitoring market is projected to grow at a CAGR of 5.9%."

The therapeutic drug monitoring market is expected to reach USD 1.63 billion by 2023 from USD 1.23 billion in 2018, at a CAGR of 5.9% during the forecast period. The growth of this market is majorly driven by the rising number of organ transplant procedures and the use of TDM in traditional anticancer therapies. However, the lack of financial provisions for the clinical interpretation of TDM results is expected to restrain the growth of this market during the forecast period.

"Hospital laboratories are expected to account for the largest share of the therapeutic drug monitoring market in 2018."

On the basis of end user, the therapeutic drug monitoring market is divided into hospital laboratories, commercial/private laboratories, and other end users. In 2018, the hospital laboratories segment is expected to account for the largest share of the therapeutic drug monitoring market. The large share of this segment is attributed to the fact that most diagnostic tests are performed in hospitals or hospital-attached laboratories as they have the appropriate equipment as well as skilled staff to deliver clinically meaningful interpretations from TDM assays. Compared to reference laboratories, hospital laboratories are also more accessible and offer faster results.

"The consumables segment is expected to dominate the market in 2018."

On the basis of products, the TDM market is segmented into consumables and equipment .In 2018, the consumables segment is expected to account for a larger share of this market owing to the requirement of repeat purchase of kits and reagents, coupled with the increasing number of immunoassay tests being performed across the globe as a result of the rising incidence of chronic and infectious diseases.

"The antiepileptic drugs segment is expected to dominate the market in 2018."

On the basis of class of drugs, the TDM market is segmented into antiepileptic drugs, antibiotic drugs, immune suppressant drugs, anti arrhythmic drugs, bronchodilator drugs, psychoactive agents, and other drugs. In 2018, the antiepileptic drugs segment is expected to account for the largest share of the market. Anti epileptics are the most commonly monitored class of drugs due to the high complexity and heterogeneity of epilepsy, lack of biological markers or specific clinical signs aside from the frequency of seizures to assess treatment efficacy or toxicity, and the highly complex pharmacokinetics of these drugs.

"The immunoassays segment is expected to dominate the market in 2018."

On the basis of technology, the therapeutic drug monitoring market is classified into immunoassays and chromatography-MS. The immunoassays segment is expected to account for the largest share of this market in 2018, mainly due to the increasing incidence of chronic and infectious diseases and technological innovation.

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In the end, the Global Therapeutic Drug Monitoring Market report's conclusion part notes the estimation of the industry veterans.

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