Therapeutic Drug Monitoring Market Worth $2.0 billion by 2025 – Impact of Covid 19 Detailed Analysis

Therapeutic Drug Monitoring Market

Therapeutic Drug Monitoring Market Therapeutic Drug Monitoring Market

PUNE, India, 2020-Oct-22 — /EPR Network/ —

According MarketsandMarkets Research – 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.

Covid -19 Impact on TDM Market:

The outbreak of COVID is anticipated to drive the demand for equipment being used in TDM. Researchers have been focusing on testing a variety of potential drugs to find a suitable treatment for COVID-19. To support laboratories with this challenge, players operating in the TDM market are providing controls and calibrators. For instance, Chromsystems offers 3PLUS1 calibrator and MassCheck controls that can be used for the testing of a broad range of drugs suitable for the treatment of COVID-19.

A rising hospitalization rate due to the rapid transmission of COVID-19 has supported the growth of the hospital laboratories segment. This is mainly due to the increasing number of cases being admitted and the concomitant increase in testing volumes.

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Therapeutic Drug Monitoring Market Segmentation in Depth:

On the basis of product, segmented into equipment and consumables. In 2019, consumables segment accounted for the largest market share, primarily due to the repeat purchases of kits and reagents and the increasing number of immunoassay tests being performed across the globe.

On the basis of class of drug, the TDM Market is segmented into antiepileptic drugs, antibiotic drugs, immunosuppressant drugs, antiarrhythmic drugs, bronchodilator drugs, psychoactive agents, and other drugs. During 2019, antiepileptic drugs held the largest share among the class of drug 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.

Growth Driver in Depth:

  • 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

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On the basis of region, the therapeutic drug monitoring market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2019, North America commanded the largest share of the market. 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.

The major players operating in therapeutic drug monitoring market are Abbott Laboratories (U.S.), F. Hoffmann-La Roche (Switzerland), Siemens Healthineers (Germany), Thermo Fisher Scientific (U.S.), Danaher Corporation (U.S.), Bio-Rad Laboratories (U.S.), bioMérieux (France), BÜHLMANN Laboratories (Switzerland), SEKISUI MEDICAL (Japan), Randox Laboratories (Ireland), DiaSystem Scandinavia AB (Sweden), Cambridge Life Sciences Limited (United Kingdom), ARK Diagnostics, Inc. (U.S.), Chromsystems Instruments & Chemicals GmbH (Germany).

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