Market Analysis: Global Therapeutic Drug Monitoring Market
The Global Therapeutic Drug Monitoring Market is expected to reach USD 3.62 Billion by 2025, from USD 2.03 billion in 2017 growing at a CAGR of 7.5 % during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2017, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Market Definition: Global Therapeutic Drug Monitoring Market
This market report defines the market trends and forecast the upcoming opportunities and threats of the therapeutic drug monitoring market in the next 8 years. Therapeutic drug monitoring is measuring the drug concentration in the blood. The main role of this is to regulate the drug dose level in the blood. The main purpose if drug monitoring is to check the efficacy of the drug toxicity and diagnosis. According to 2013 survey by the Medical expenditure panel 1 in 7 American adult takes anti-psychotic drug, which requires therapeutic drug monitoring. Increase in the use of the instruments for drug monitoring level, diagnostic tools in the blood result in the growth of therapeutic drug monitoring market, During the Research and development of cancerous drugs or anti-psychotic drug, drug toxicology and drug bioavailability is done by therapeutic drug monitoring tools. As the drug for Cancer, Central nervous system and HIV are very harmful and have many side effects drug monitoring is done in order to check the toxicity, efficacy of the drug. In drug development procedure to check the efficacy and safety of the drug, drug monitoring analysis is done on the animals so that more harmful effects of the drug can be reduced. WHO reported that there were 600,000 new cases of resistance to rifamycin among them 490000 had multi drug resistance for TB. As per WHO reports, 36.7 Million were affected from the HIV worldwide at the end of 2016 and 20.9 Million people were receiving the antiretroviral therapy by mid-2017. Increasing cases of AIDS and Cancer every year, so new, better and more efficacious drug monitoring technologies are required in order to enhance the drug development process.
Major Market Drivers and Restraints:
- New technology and new diseases are expected to drive the market in the forecast period
- Production of new drugs based on new technology.
- Rising geriatric, cancer, HIV population and diabetes
- Increased investment in research and development of membrane devices
- Downward pricing pressure owing to its commodity nature
Market Segmentation: Global Therapeutic Drug Monitoring Market
- The global therapeutic drug monitoring market is segmented based on basis of product, technology, class of drugs, therapeutic areas, end users, and geography.
- Based on product type, the global therapeutic drug monitoring market is segmented into consumables and devices. Devices are further sub-segmented into Diagnostic devices, proteomic tools.
- Based on the technology, the global therapeutic drug monitoring market is segmented into in Immunoassays and proteomic technologies. Immunoassays were further sub-segmented into cloned enzyme donor immunoassay, fluorescence polarization immunoassay, particle-enhanced turbidimetric immunoassay and chemiluminescent immunoassay. Proteomic technology is further sub-segmented into liquid chromatography/ mass spectrometry and Gas chromatography/ mass spectrometry.
- Based on the class of drugs, the global therapeutic drug monitoring market is segmented into psychoactive drug, bronchodilators, immunosuppresants, antibiotics, antiarrhythmic drugs, anti-neoplastic drugs.
- Based on the therapy areas, the global therapeutic drug monitoring market is segmented into Alimentary tract and metabolism, blood and blood forming organs, cardiovascular disease, dermatological disease, genitourinary disease and sex hormones, hormonal preparations, anti-infectives, anti-neoplastic and immunomodulating, musculo-skeletal disease, nervous system disease, respiratory diseases, sensory organ disease.
- On the basis of end users the global therapeutic drug monitoring market is segmented into (hospitals labs, commercial labs and others) hospitals, ambulatory centers, clinics, community healthcare.
- Based on distribution channel, the global therapeutic drug monitoring market is segmented into retail and direct tenders.
- Based on geography, the global therapeutic drug monitoring market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others.
Competitive Analysis: Global Therapeutic Drug Monitoring Market
The global therapeutic drug monitoring market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of therapeutic drug monitoring market for global, Europe, North America, Asia Pacific and South America.
Major Market competitors/players: Global Therapeutic Drug Monitoring Market
Some of the major players operating in the global therapeutic drug monitoring market are Beckman Coulte, Bio-Rad Laboratories, F. Hoffmann-La Roche, Siemens Healthcare, Thermo Fisher Scientific, Abbott laboratories, Bayer AG, bioMérieux, Inc, Alere, Inc, Danaher Corporation, Theradiag, Tecan Trading AG, SQI Diagnostics, Sekisui Medical Co ltd, Quest Diagnostics, Myriad Genetics, Miraca Life Sciences, Merck Millipore, InSource Diagnostics, Exagen Diagnostics, Euro Diagnostica AB, Diasorinb SPA, Adaptive Biotechnologies, among others.
Research Methodology: Global Therapeutic Drug Monitoring Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
Demand Side Primary Contributors: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others