Growing Cases of Chronic Illnesses will foster the Therapeutic Drug Monitoring Market

The research report " Global Therapeutic Drug Monitoring (TDM) Market: By Technology (Immunoassays, LC-MS/MS, GC/GC-MS, and Others), By Drug class (Antibiotics, Immuno suppressants, Addiction Therapeutics, Analgesics, Anti Cancer, Alzheimer Disease, Analeptics, Anti-coagulants, Anti-hypertensive, Anti-Depressants, Anti- Psychotics, Hormones, Anti-Epileptic Drugs, Anti-Arrhythmic Drugs and Anti-Fungals), By Technology (Immunoassay, LC-MS/MS, GC-MS/MS and Other) and By Geography - Global/Region/Country Forecast to 2027", The Global Therapeutic Drug Monitoring Market Was valued at 1900 Million in the year 2020 and is anticipated to grow at 2746 Million till 2027 witnessing a CAGR of 5.4%.

Glance our 200 slides market research and competitive intelligence research report, 25 Tables and 65 Figures and other qualitative sections with an in-depth TOC on " Global Therapeutic Drug Monitoring (TDM) Market: By Technology (Immunoassays, LC-MS/MS, GC/GC-MS, and Others), By Drug class (Antibiotics, Immuno suppressants, Addiction Therapeutics, Analgesics, Anti Cancer, Alzheimer Disease, Analeptics, Anti-coagulants, Anti-hypertensive, Anti-Depressants, Anti- Psychotics, Hormones, Anti-Epileptic Drugs, Anti-Arrhythmic Drugs and Anti-Fungals), By Technology (Immunoassay, LC-MS/MS, GC-MS/MS and Other) and By Geography - Global/Region/Country Forecast to 2027",

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Growing Demand from therapeutic fields for therapeutic drug monitoring system will enhance the market growth:
Therapeutic drug monitoring is a multidisciplinary method to identify the drug amount in bloodstream for the purpose of maintaining its e/MSfficient concentration. It is mainly used to identify therapeutic failure, avoid toxicity, facilitate dose adjustment as per the patient need and maximize the drug efficacy and avoid adverse drug reactions. Therapeutic drug monitoring is hugely used by hospitals and physicians to maximize the clinical advantages of the drug by reducing the toxic side effects and enhancing the quality of patient’s life. This drug monitoring method also helps in monitoring different drug molecules at clinical practice. For instance, drugs such as cyclosporine, carbamazepine, digoxin, valproni and phenytoin are monitored.

There are a number of factors that drive the therapeutic drug monitoring market such as increasing use of therapeutic drug monitoring system in different therapeutic fields, adverse effects involved with drug molecules, technological developments in immunoassay industries, increasing inclination towards precision medicine and growing occurrence of chronic illnesses and increase in organ transplantations. Growing adoption in the autoimmune illnesses treatment is anticipated to offer a number of crucial growth opportunities for the market players. More than 400 therapeutic drug monitoring tests were performed in the year 2018 across the globe and anticipated to grow more than 600 million TDM tests till 2028. Best technology platforms namely LC-MS/MS and immunoassay analyzed more than 250 million TDM samples in the year 2018.

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North America accounted huge market revenue share in Therapeutic Drug Monitoring Market:
North America obtained 56% market revenue share in the year 2018 followed by EMEA recording revenue share 31.2%. North America witness huge growth in the market due to the availability of technologically advanced healthcare infrastructure, growing per capita healthcare expenses as well as initiatives taken by various government organizations. USA dominates the therapeutic drug monitoring market globally in North America.

Competitive Analysis:
A few major key players of therapeutic drug monitoring market to mention are Thermo Fisher Scientific, Diagnostics, Inc. , Ortho Clinical Diagnostics , Beckman Coulter , North American Science Associates, Inc. , Sekisui Diagnostics , Alfa Scientific Designs, Inc. , Alere (Abbott) , SJK Global, LLC , Carolina Liquid Chemistries Chromsystems , DiaSystem Scandinevia AB, Meridian Healthcare S.R.L. , Randox Laboratories Ltd , Sekisui Medical Co. Ltd., Orasure Technologies, Inc , First Check Diagnostics , Alfa Scientific Designs, Inc. F. Hoffmann-La Roche AG

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