Global Therapeutic Drug Monitoring Market Competitive Landscape, Top Market Segments, And Fastest Growing Regions
22 Jun, 2023
The global therapeutic drug monitoring market size is expected to grow from $1.93 billion in 2022 to $2.10 billion in 2023 at a compound annual growth rate (CAGR) of 8.83%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global therapeutic drug monitoring market size is expected to reach $3.03 billion in 2027 at a CAGR of 9.66%.
Global Therapeutic Drug Monitoring Market Key Driver
The rise in organ transplant surgeries is likely to drive the therapeutic medication monitoring industry forward. Organ transplantation is a surgical procedure that involves the transfer of an organ from one person (the donor) to another. TDM of immunosuppressive medications has been identified as a useful technique of managing patients following solid organ transplantation. TDM optimisation may result in the avoidance of hazardous or insufficiently low-dose therapy, which could lead to organ rejection.
Get a sample of the global therapeutic drug monitoring market reportGlobal Therapeutic Drug Monitoring Market Segments
The global therapeutic drug monitoring market is segmented:
1) By Product: Consumables, Equipment, Immunoassay Analyzers, Chromatography And Detectors
2) By Technology: Immunoassays, Chemiluminescence Immunoassays, Chemiluminescence Immunoassays, Colorimetric Immunoassays, Fluorescence Immunoassays, Radioimmunoassay, Other Immunoassays, Chromatography-Ms, Lc-Ms, Gc-Ms
3) By Class Of Drug: Antiepileptic Drugs, Antibiotic Drugs, Immunosuppressant Drugs, Antiarrhythmic Drugs, Bronchodilator Drugs, Psychoactive Drugs, Other Drugs
4) By End-user: Hospital Laboratories, Commercial and Private Laboratories, Other End Users
5) By Geography: The regions covered in the therapeutic drug monitoring market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global therapeutic drug monitoring market.
Major Therapeutic Drug Monitoring Industry Players
Abbott Laboratories Inc, Hoffmann-La Roche Ltd, Siemens Healthineers Inc., Thermo Fisher Scientific Inc., Sekisui Medical Co, Buehlmann Laboratories AG, Danaher Corporation, Bio-Rad Laboratories Inc., bioMérieux, Randox Laboratories Limited, Chromsystems Instruments & Chemicals GmbH, Grifols SA, Merck KGaA, OraSure Technologies, BioChem Pharmaceuticals
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Therapeutic Drug Monitoring Market Overview
Therapeutic drug monitoring (TDM) is a clinical procedure in which a patient's bloodstream is continuously monitored for the concentration of a specific medicine to ensure that their dose regimens are functioning effectively. It is used to monitor pharmaceuticals for which target concentrations are difficult to monitor, medications with significant pharmacokinetic variability, medications with established therapeutic and negative side effects, and medications with narrow therapeutic ranges.
Therapeutic Drug Monitoring Global Market Report 2023 provides data on the global therapeutic drug monitoring market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The therapeutic drug monitoring market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.