Growing Demand for Personalized Medicine Driving Therapeutic Drug Monitoring Market

"The Report Global Therapeutic Drug Monitoring Market 2017-2021 provides information on pricing, market analysis, shares, forecast, and company profiles for key industry participants. - MarketResearchReports.biz"

MarketResearchReports.biz has announced the availability of a new report in its repository, titled “Global Therapeutic Drug Monitoring Market 2017-2021.” The report has been developed by a group of experienced market research analysts and aspires to armor its targeted audiences as a credible business tool. The report provides comprehensive assessment of all factors that may drive or obstruct the inflow of the demand for therapeutic drug monitoring, catches the recent trends, segments the market on the basis of product type, drug class, end-users, and region, and profiles some of the leading companies in order to showcase the competitive landscape.

As per the findings of the report, the global therapeutic drug monitoring market is gaining traction from a number of factors, such as increasing demand for personalized medicine, advances in drug pharmacogenetics, and the growing use of TDM in traditional anticancer therapies. On the other hand, the shortage of skilled technicians to perform the peculiar diagnostic tests and unavailability of financial provisions for clinical interpretations of TDM results are some of the challenges faced by the vendors operating in the global therapeutic drug monitoring market. Nevertheless, this market is expected to gain additional traction from a number of trends, such as increased focus on the development of novel therapeutic drug monitoring tools for new indications, advances in technologies, and the advent of POC tests.

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Based on product, the global therapeutic drug monitoring market is segmented into equipment and consumables. As of now, consumables form the largest chunk of demand, which can be attributed to growing number of grants by the National Institutes of Health (NIH) for R&D activities. As an increasing number of vendors are focusing on the production of consumables for its high margin, the segment is expected to remain highly profitable throughout the forecast period. Based on end-users, the report classifies the global therapeutic drug monitoring market into hospitals and private laboratories, while on the basis of drug class, the market has been bifurcated into immunosuppressants, antiepileptics, antiarrhythmics, antibiotics, and others. Geographically, the report gauges the potential of therapeutic drug monitoring market in the regions of Americas, Asia Pacific (APAC), and Europe, The Middle East, and Africa.

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The report finds the global therapeutic drug monitoring market to be fragmented in nature with the presence of several global and regional players, who are consistently competing on factors such as automated systems, aggressive pricing, diverse applications, and improved standardization. Some of the key players of the global therapeutic drug monitoring market, who have been profiled in the report, are Bio-Rad Laboratories, Beckman Coulter, Siemens Healthcare, F. Hoffmann-La Roche, Thermo Fisher Scientific, Exagen Diagnostics, bioMérieu, AESKU.Diagnostics, Adaptive Biotechnologies, Alere, Bio-Techne, DiaSorin, BÜHLMANN Laboratories, Euro Diagnostica, Quest Diagnostics, InSource Diagnostics, IDEXX Laboratories, Merck Millipore, Myriad Genetics, Miraca Life Sciences, Phadia, SEKISUI MEDICAL, Tecan, and SQI Diagnostics.

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