LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global therapeutic drug monitoring market report. This market research report also lists 20 other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
According to the research analysis, the global therapeutic drug monitoring market is expected to grow at a CAGR of more than 7% during the forecast period. The increasing need for personalized medicine has driven the demand for therapeutic drug monitoring. It is important to get the drug right in content and in quantity (dosage) to offer better care to individuals. Therefore, therapeutic drug monitoring is required to find out the correct content and dosage specific to the individual. Personalized medicine can offer treatments based on the individual characteristics, needs, and preferences.
“Therapeutic drug monitoring formed the key basis for personalized medicine, which evolved to include pharmacogenomic and biomarker-driven strategies for patient segmentation. Therapeutic drug monitoring is not only done after the administration of the drug but also before that. This is called a priori therapeutic drug monitoring, which determines the initial dose regimen to be given to an individual. It is based on the clinical endpoint and pharmacokinetic-pharmacodynamic relationships. Such advancements are expected to fuel the market growth,” says Sapna Jha, a lead analyst at Technavio for cardiovascular and metabolic disorders research.
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Technavio market research analysts identify the following key vendors:
Beckman Coulter develops and markets diagnostic systems that automate complex biomedical testing. It offers a broad range of diagnostics in wide areas such as a gene, protein, and small molecule analyses; nanotechnology; pharmaceuticals; purified terephthalic acid; sediments; drug discovery and development; genomics; automated genomic solutions; and laboratory testing.
Bio-Rad Laboratories undertakes the manufacture of innovative tools and services for life sciences research and clinical diagnostics. It has a wide portfolio of products and systems that are used to separate complex chemical and biological materials and analyze, identify, and purify their components.
F. Hoffmann-La Roche
F. Hoffmann-La Roche develops and manufactures assays/reagents, instruments/systems, laboratory systems, and automation products that help in the diagnosis of various diseases. The company provides its services directly to wholesalers, retailers, healthcare facilities, hospitals, laboratories, and physicians’ offices worldwide.
Siemens Healthcare manufactures medical diagnostic equipment and tools. It also offers solutions for medical imaging, laboratory diagnostics, healthcare IT, and hearing instruments. It also provides technical maintenance and professional and consulting services. The company leverages its wide operational network to cater products to various regions.
Thermo Fisher Scientific
Thermo Fisher Scientific operates in four business segments: life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and services. In November 2014, the company and Samsung Electronics formed a strategic collaboration to offer better POC diagnostics. This initiative aimed to design, develop, and market new POC solutions in key applications such as the therapeutic drug monitoring, drugs of abuse, detection of sepsis, and detection of cardiac problems.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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