What is Therapeutic Drug Monitoring Market Scope?
The increasing ageing population with better health care services, increased government and private sector participation in therapeutic drug monitoring markets, growth in drug profiling, rising demand for genetic testing will help to boost the global Therapeutic Drug Monitoring market. Therapeutic drug monitoring (TDM) utilizes the principle that the clinical response of a drug is directly related to its concentration in blood and hence monitoring is carried out and to support the management of patients receiving certain drugs. The central goal of TDM is to use drug concentration to manage drug regimens to optimize therapy. The target group consisted of about 30 scientists who work in the Biochemistry, Toxicology and Microbiology laboratories at the Manchester Royal Infirmary, and who carry out TDM on a regular basis.
The Therapeutic Drug Monitoring market study is being classified by Type (Consumable and Equipment [Immunoassay analyzer]), by Application (Hospitals (Clinical Pharmacology departments), Pathological labs, Research and Academic Institutions and Pharmaceutical and Biotech firms) and major geographies with country level break-up. According to AMA, the Global Therapeutic Drug Monitoring market is expected to see growth rate of 7.9%
The key players are introducing new-generation, clinically-effective drug monitoring devices that are portable and miniaturized so as to gain a competitive edge in the market. Research Analyst at AMA predicts that Players from United States will contribute to the maximum growth of Global Therapeutic Drug Monitoring market throughout the predicted period.
Abbott Laboratories (United States), Hoffmann-La Roche (Switzerland), Siemens Healthineers (Germany), Thermo Fisher Scientific (United States), Danaher Corporation (United States), Bio-Rad Laboratories (United States), Biomérieux (France), Bühlmann Laboratories (Switzerland), Sekisui Medical (Japan) and Randox Laboratories (United Kingdom) are some of the key players profiled in the study.
Analyst at AMA have segmented the market study of Global Therapeutic Drug Monitoring market by Type, Application and Region.
On the basis of geography, the market of Therapeutic Drug Monitoring has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2019. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Influencing Market Trend
- Upsurging demand for Personalized medicine and advanced technologies such as assay performance and drug monitoring
- Increasing Number of organ transplant procedures
- Increasing Use of Therapeutic Drug Monitoring in traditional anticancer therapies
- The introduction of novel devices with marked technological advancements facilitates rapid throughput operations
- Monitoring of biosimilars in autoimmune diseases
- The Growing Healthcare Infrastructure across the Developing Countries
- The reluctance of small hospitals to offer TDM services
- Operational barriers faced in conducting TDM tests
Key Target AudienceTherapeutic Drug Monitoring Providers, Government Regulatory Bodies, Private Research Organization, Government Research Organization and Others
Customization available in this Study:The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research & Media features not just specific market sizing estimates, but also include significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets , To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.