Oncology Therapeutic Drug Monitoring Market Size, Industry Share | Forecast 2028

According to Precision Business Insights (PBI), the latest report the global oncology therapeutic drug monitoring market size was valued at USD 426.7 million in 2021 and is projected to grow at a 5.8% CAGR during the forecast period 2022 to 2028. The market is anticipated to a significant growth rate due to factors such as the raising prevalence of multiple cancer increasing new drug launches and product approval and increase in research activity by pharma companies in this field. For oncology drugs are used to lower the total number of cancer cells in the body, shrink the tumor size and reduce the symptoms.

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The methotrexate Segment are Dominate the Oncology Therapeutic Drug Monitoring Market
Based on drug class type the methotrexate segment holds the highest revenue market share in the global Oncology Therapeutic Drug Monitoring market owing to among the given anticancer drugs, Methotrexate is highly preferred for TDM to monitor efficacy and adverse events of the drug. Moreover, Methotrexate is the main folate antagonist and one of the most widely used antimetabolites in cancer chemotherapy. LC-MS/MS is highly preferred for TDM for methotrexate followed by the immunoassay technique.

North America Leads Oncology Therapeutic Drug Monitoring Market
North America accounted to have a prominent global Oncology Therapeutic Drug Monitoring market, and the market is expected to grow significant CAGR over the forecast years owing to new product launches in the region being responsible for dominating the region. For instance, according to the national cancer institute in 2020 over 1.8 million people are diagnosed with cancer in the U.S followed by North America. Makeover Europe is also showing faster growth in the forecasting market countries like UK Germany France Italy and Spain are the leading global Oncology Therapeutic Drug Monitoring market.

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The oncology therapeutic drug monitoring market is segmented based on drug class type, By cancer type, distribution channel, and geography.
Based on the drug class type, the market is segmented into the following:
• 5-Fluorouracil
• Docetaxel
• Methotrexate
• Paclitaxel
• Imatinib

Based on the by cancer type, the market is segmented into the following:
• Lung Cancer
• Prostate Cancer
• Breast Cancer
• Cervical Cancer
• Gastric Cancer
• Colorectal Cancer
• Liver Cancer
• Blood Cancer

Based on Geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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The oncology therapeutic drug monitoring market report key players are Abbott (US), Thermo Fisher Scientific (US), F. Hoffmann-La Roche Ltd. (Switzerland), Siemens Healthineers AG (Germany), Danaher Corporation (US), Bio-Rad Laboratories (US), bioMérieux SA (France), Threading SA (France), Grifols S.A. (Spain), Exagen Inc. (US), R-Biopharm AG (Germany), ApDia Group (Belgium), UTAK (US).

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This release was published on openPR.