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Global Therapeutic Drug Monitoring Market Is Poised To Reach $2.9 Billion By 2027, Growing At A CAGR Of 9.6% From 2022 To 2027 | Thermo Fisher Scientific, Abbott Laboratories, Hoffmann-La Roche, Danaher Corporation, Siemens
Therapeutic Drug Monitoring Market
The report offers the value (in USD million) for the above segments. The global therapeutic drug monitoring market in terms of revenue was estimated to be worth $1.8 billion in 2022 and is poised to reach $2.9 billion by 2027, growing at a CAGR of 9.6% from 2022 to 2027. Therapeutic Drug Monitoring (TDM) Market is expected to grow in upcoming years due to factors such as increase in number of organ transplant procedures and use of therapeutic drug monitoring in traditional anticancer therapies.
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Therapeutic Drug Monitoring Market Competitor Analysis
The therapeutic drug monitoring market is moderately competitive and consists of several major players. Some of the major players operating in this market are Abbott (US), F. Hoffmann-La Roche (Switzerland), Siemens Healthineers AG. (Germany), Thermo Fisher Scientific (US), Danaher Corporation (US), and Bio-Rad Laboratories (US). In 2021, Abbott (US held the leading position in the market. The company has a strong geographic presence across North America, Europe, and Asia Pacific. Thermo Fisher Scientific (US) held the second position in the therapeutic drug monitoring market in 2021.
Top Impacting factors:
• Factors such as rise in demand for better healthcare in the urban population, increase in number of organ transplant procedures and use of therapeutic drug monitoring in traditional anticancer therapies is expected to rise the growth for the therapeutic drug monitoring market.
• Increase in research about pharmacokinetics and pharmacogenetics of drugs is assisting the doctors for usage of therapeutic drug monitoring.
• Rise in the prevalence of complex neurological diseases and caner has increased the demand for high end diagnostic techniques such as genetic testing which is expected to rise the market growth.
• Increasing investments by the government and private bodies in research and development of novel drugs and vaccines is expected to boost the therapeutic drug monitoring market growth in upcoming years.
• However, low returns in research and development, stringent regulatory framework, high infrastructure costs and lack of skilled resources are the factors which can hamper the growth of therapeutic drug monitoring market up to some extent over the forecast period.
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This research report categorizes the Therapeutic Drug Monitoring market into the following segments and subsegments:
Product Split
• Consumables
• Equipment
• Immunoassay Analyzers
• Chromatography & MS Detectors
• Clinical Chemistry Analyzers
Technology Split
• Immunoassays.
• Chemiluminescence Immunoassays
• Chemiluminescence Immunoassays
• Colorimetric Immunoassays
• Fluorescence Immunoassays
• Radioimmunoassay
• Other Immunoassays
• Chromatography-MS
• LC-MS
• GC-MS
Class of drug Split
• Antiepileptic Drugs
• Antibiotic Drugs
• Immunosuppressant Drugs
• Antiarrhythmic Drugs
• Bronchodilator Drugs
• Psychoactive Drugs
• Other Drugs
End user Split
• Hospital Laboratories
• Commercial & Private Laboratories
• Other End Users
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Recent Developments:
• In May 2012, Theradiag (France) announced the launch of ez-Track1, a point-of-care testing solution for therapeutic drug monitoring.
• In January 2021, Theradiag (France) announced CE marking for four new i-Tracker test kits for biotherapy monitoring.
Questions answered in the Therapeutic Drug Monitoring Market Report:
• What are the leading market players active in Therapeutic Drug Monitoring Market?
• What the current trends will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?
• What Segments and region will drive the market growth & why?
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