Therapeutic Drug Monitoring Market Analysis, Future Demand And Forecast Till 2033

The therapeutic drug monitoring market size has grown strongly in recent years. It will grow from $2.1 billion in 2023 to $2.29 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to rising incidence of chronic diseases, drug safety concerns, pharmacogenomics integration, increasing drug development, regulatory emphasis on precision medicine.

The therapeutic drug monitoring market size is expected to see rapid growth in the next few years. It will grow to $3.36 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to expanding applications in oncology, rise in personalized medicine practices, global increase in aging population, expanded point-of-care testing, growing pharmaceutical r&d expenditure. Major trends in the forecast period include personalized medicine, technological advancements, increased drug development and usage, point-of-care testing (poct), emerging biomarkers and assay technologies.

Market Overview -
Therapeutic drug monitoring (TDM) is a clinical procedure in which a patient's bloodstream is continuously monitored for the concentration of a specific medicine to ensure that their dose regimens are functioning effectively. It is used to monitor pharmaceuticals for which target concentrations are difficult to monitor, medications with significant pharmacokinetic variability, medications with established therapeutic and negative side effects, and medications with narrow therapeutic ranges.

Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=10069&type=smp

Organ Transplant Surge Drives Growth In Therapeutic Drug Monitoring Market
The rise in organ transplant surgeries is expected to propel the growth of the therapeutic drug monitoring market. Organ transplantation is a surgical process that transfers an organ from one individual (the donor) to another. The TDM of immunosuppressive medicines has been recognized as an effective method in managing patients undergoing solid organ transplantation. TDM optimization may result in avoiding toxic or insufficiently low-dose therapy that might result in organ rejection. For instance, in January 2023, according to an article released by the United Network for Organ Sharing, a US-based non-profit organization responsible for managing organ transplants, in 2022, in the US, 42,887 organ transplants were performed, a 3.7% increase over 2021. Therefore, the rise in organ transplant surgeries drives the therapeutic drug monitoring market.

Competitive Landscape -
Major companies operating in the therapeutic drug monitoring market report are Abbott Laboratories Inc., F. Hoffmann-La Roche AG, Siemens Healthineers AG, Thermo Fisher Scientific Inc., Sekisui Medical Co., Buehlmann Laboratories AG, Danaher Corporation, Bio-Rad Laboratories Inc., bioMérieux SA, Randox Laboratories Limited, Chromsystems Instruments & Chemicals GmbH, Grifols SA, Merck KGaA, OraSure Technologies Inc., BioChem Pharmaceuticals, Beckman Coulter Inc., BioTelemetry Inc., DiaSorin S.p.A., Hologic Inc., Immunodiagnostic Systems Holdings plc, Kronus Inc., QuidelOrtho Corporation, Sysmex Corporation, TDM Solutions Inc., Theradiag, Tosoh Bioscience LLC, Trinity Biotech plc, Associated Regional and University Pathologists Inc., Mayo Clinic Laboratories, Quest Diagnostics

Innovative Solutions Drive Therapeutic Drug Monitoring Market
Product innovations are a key trend gaining popularity in the therapeutic drug monitoring market. Major companies in the therapeutic drug monitoring sector are focused on developing new products to meet customer needs and strengthen their market position. In October 2021, Promise Proteomics, a France-based proteomics company, launched mAbXmise kits, a proprietary solution that combines labeled monoclonal antibodies, reagents, and laboratory supplies for quantifying therapeutic monoclonal antibodies by mass spectrometry. This multiplexing technique outperforms previous analytical methods, giving scientific, clinical, and economic perspectives that completely fulfill the limits of routine therapeutic drug monitoring.

Browse Full Report @
https://www.thebusinessresearchcompany.com/report/therapeutic-drug-monitoring-global-market-report

Key Segments -
The therapeutic drug monitoring market covered in this report is segmented -
1) By Product: Consumables, Equipment, Immunoassay Analyzers, Chromatography And Detectors
2) By Technology: Immunoassays, Chemiluminescence Immunoassays, Chemiluminescence Immunoassays, Colorimetric Immunoassays, Fluorescence Immunoassays, Radioimmunoassay, Other Immunoassays, Chromatography-Ms, Lc-Ms, Gc-Ms
3) By Class Of Drug: Antiepileptic Drugs, Antibiotic Drugs, Immunosuppressant Drugs, Antiarrhythmic Drugs, Bronchodilator Drugs, Psychoactive Drugs, Other Drugs
4) By End-user: Hospital Laboratories, Commercial and Private Laboratories, Other End Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Want To Know More About The Business Research Company?

The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database

The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.