DUBLIN--(BUSINESS WIRE)--The "Therapeutic Drug Monitoring Market by Product (Equipment (Immunoassay Analyzers), Consumables), Technology (Immunoassays, Chromatography-MS), Class of Drugs (Antibiotic Drugs, Bronchodilator Drugs), End User - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global therapeutic drug monitoring market is projected to reach USD 2.0 billion by 2025 from USD 1.4 billion in 2020, at a CAGR of 6.9% from 2020 to 2025.
The growth of the market is largely driven by factors such as the rising number of organ transplant procedures, the use of TDM across various therapeutic fields, the increasing preference for precision medicine, a growing focus on R&D related to TDM, and technological advancements in immunoassay instruments. Increased adoption in the treatment of autoimmune diseases is expected to provide a wide range of growth opportunities for players in the market.
Consumables segment accounted for a significant share of the therapeutic drug monitoring market, by product, in 2019
By product, the therapeutic drug monitoring market is segmented as consumables and equipment. Of all these products, consumables accounted for the largest share of the therapeutic drug monitoring market in 2019. The segment is also anticipated to grow at the fastest rate due to the repeat purchases of kits and reagents and the increasing number of immunoassay tests being performed across the globe.
Immunoassays segment accounted for a significant share of the therapeutic drug monitoring market, by technology, in 2019
By technology, the therapeutic drug monitoring market is segmented into immunoassays and chromatography-MS. Of all these products, immunoassays accounted for the largest share of the therapeutic drug monitoring market in 2019. The segment is also anticipated to grow at the fastest rate due to the increasing incidence of chronic and infectious diseases and technological innovation.
Antiepileptic drugs segment accounted for the largest share of the therapeutic drug monitoring market, by class of drugs in 2019
On the basis of class of drugs, the therapeutic drug monitoring market is segmented into antiepileptic drugs, antibiotic drugs, immunosuppressant drugs, antiarrhythmic drugs, bronchodilator drugs, psychoactive agents, and other drugs. The antiepileptic drug accounted for the largest share in 2019, due to the high complexity and heterogeneity of epilepsy, lack of biological markers or specific clinical signs aside from the frequency of seizures to assess treatment efficacy or toxicity, and the highly complex pharmacokinetics of these drugs.
Hospital laboratories segment accounted for the largest share of the therapeutic drug monitoring market, by end user in 2019
On the basis of end user, the therapeutic drug monitoring market is segmented into hospital laboratories, commercial & private laboratories, and other end users. Of all these end-user segments, hospital laboratories accounted for the largest share of the therapeutic drug monitoring market in 2019. The large share of this segment can be attributed to factors such as the availability of advanced healthcare facilities in hospitals and the rising incidences of chronic diseases.
North America will continue to dominate the therapeutic drug monitoring market during the forecast period
In 2019, North America was estimated to be the largest regional market for therapeutic drug monitoring, followed by Europe. Increasing per capita healthcare expenditure and the presence of technologically advanced healthcare infrastructure in the region, coupled with initiatives taken by different government associations, are anticipated to boost the market growth in the region.
Market Dynamics
Drivers
- Importance of TDM in Organ Transplant Procedures
- Use of TDM Across Various Therapeutic Fields
- Increasing Preference for Precision Medicine
- Growing Focus on R&D Activities Related to Tdm
- Technological Advancements
Restraints
- Requirement of High Capital Investments
- Reluctance of Small Hospitals to Offer TDM Services
Opportunities
- Increasing Adoption in the Treatment of Autoimmune Diseases
Challenges
- Availability of Alternatives to Conventional TDM
- Operational Barriers Faced in Conducting TDM Tests
Companies Profiled
- Abbott Laboratories
- Thermo Fisher Scientific
- F. Hoffmann-La Roche
- Siemens Healthineers
- Danaher Corporation
- Bio-Rad Laboratories
- Biomerieux
- Theradiag
- Grifols
- Bhlmann Laboratories
- Sekisui Medical
- Randox Laboratories
- Diasystem Scandinavia
- Cambridge Life Sciences
- Ark Diagnostics
- Chromsystems Instruments & Chemicals
- Exagen
- R-Biopharm
- Apdia Group
- Biotez Berlin Buch
- Eagle Biosciences
- Jasem Laboratory Systems and Solutions
- Aalto Scientific
- Immundiagnostik
- Utak
For more information about this report visit https://www.researchandmarkets.com/r/net7ye
