Global Therapeutic Drug Monitoring Market, By Product (Consumables, Devices), Technology (Immunoassays, Proteomic Technologies), Class of Drugs (Antiepileptic, Antiarrhythmic, Immunosuppresants, Others), Therapeutic Areas (Alimentary Tract, Hematological Disease, Others), End Users (Hospital Labs, Labs, Others), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights Global Therapeutic Drug Monitoring Market
The therapeutic drug monitoring market is expected to witness market growth at a rate of 8.4% in the forecast period of 2022 to 2029. Data Bridge Market Research report on therapeutic drug monitoring market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in the healthcare sector globally is escalating the growth of therapeutic drug monitoring market.
Therapeutic drug monitoring refers to is a test that involves the measurement of different drugs in the bloodstream to ensure the administered quantity of medicine. It tests is the quantity is enough to be effective and does not cause any major reactions or side effects. Some drugs need monitoring to ensure safety and effectiveness such as anti-arrhythmics, antibiotics, anti-epileptics, and psychoactive drugs.
The rise in demand for hospital and medical care institutions across the globe acts as one of the major factors driving the growth of therapeutic drug monitoring market. The high importance of therapeutic drug monitoring (TDM) in organ transplant procedures, and rise in the preference for precision medicine accelerate the market growth. The rise in the focus on research and development activities related to therapeutic drug monitoring (TDM), and high usage of the drug monitoring test across various therapeutic fields further influence the market. Additionally, improvements in the medical industry, growth in awareness, technological advancements and surge in investment by pharmaceutical companies positively affects the therapeutic drug monitoring market. Furthermore, increase in adoption in the treatment of autoimmune diseases extend profitable opportunity to the market players in the forecast period of 2022 to 2029.
On the other hand, requirement of high capital investments and availability of alternatives to conventional therapeutic drug monitoring market are expected to obstruct the market growth. The reluctance of small hospitals to offer TDM services, and operational barriers faced in conducting TDM tests are projected to challenge the therapeutic drug monitoring market in the forecast period of 2022-2029.
This therapeutic drug monitoring market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on therapeutic drug monitoring market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Therapeutic Drug Monitoring Market Scope and Market Size
The therapeutic drug monitoring market is segmented on the basis of product, technology, class of drugs, therapeutic areas and end users. The growth amongst these segments will help you analyze meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of product, the therapeutic drug monitoring market is segmented into consumables and devices. Devices are further segmented into diagnostic devices and proteomic tools.
- On the basis of technology, the therapeutic drug monitoring market is segmented into in immunoassays and proteomic technologies. Immunoassays are further sub-segmented into cloned enzyme donor immunoassay, fluorescence polarization immunoassay, particle-enhanced turbidimetric immunoassay and chemiluminescent immunoassay. Proteomic technology is further segmented into liquid chromatography/ mass spectrometry and gas chromatography/ mass spectrometry.
- On the basis of class of drugs, the therapeutic drug monitoring market is segmented into psychoactive drug, bronchodilators, immunosuppresants, antibiotics, antiarrhythmic drugs and anti-neoplastic drugs.
- On the basis of therapy areas, the 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 and sensory organ disease.
- On the basis of end users, the therapeutic drug monitoring market is segmented into hospitals labs, labs and others.
Therapeutic Drug Monitoring Market Country Level Analysis
The therapeutic drug monitoring market is segmented on the basis of product, technology, class of drugs, therapeutic areas and end users.
The countries covered in the therapeutic drug monitoring market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the therapeutic drug monitoring market because of the presence of technologically advanced healthcare infrastructure within the region. Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increase in investments in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The therapeutic drug monitoring market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for therapeutic drug monitoring market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the therapeutic drug monitoring market. The data is available for historic period 2010-2020.
Competitive Landscape and Therapeutic Drug Monitoring Market Share Analysis
The therapeutic drug monitoring market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to therapeutic drug monitoring market.
Some of the major players operating in the therapeutic drug monitoring market report are Beckman Coulter, Inc., Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche Ltd, Siemens Healthcare Private Limited, Thermo Fisher Scientific, Abbott, Bayer AG, bioMérieux SA, Alere, Inc., Danaher, THERADIAG, Tecan Trading AG, SQI Diagnostics, SEKISUI MEDICAL CO., LTD, Spectra QEST, Myriad Genetics, Inc., Miraca Holdings, Inc, Merck KGaA, InSource Diagnostics, Exagen Inc, Euro Diagnostica AB, Diasorinb S.p.a., and Adaptive Biotechnologies, among others.
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