Therapeutic Drug Monitoring Market Analysis, Size, Share and Forecast Report to 2024

Posted on 2021-02-12 by researchinsights in Healthcare // 0 Comments

Felton, Calif., USA, Feb. 12, 2021 — /EPR Network/ —

The global Therapeutic Drug Monitoring Market size is expected to value at USD 3.37 billion by 2024. The market is subject to witness a substantial growth due to the introduction of the Point-of-Care (PoC) devices in the market and development of the personalized predictive and preventive medicine. Factors responsible for the robust growth of therapeutic drug monitoring (TDM) market, in the recent years, include deriving personalized or tailor-made treatment plans for patients and increasing adoption of the Point-of-Care (PoC) diagnostic devices to carry out quantitative measurements of the drug concentration. Advent of the precision medicine for the healthcare sectoris expected to drive the growth of the market.

However, lack of awareness among general population and inability of the Point-of-Care (PoC) to broaden its application base for patient monitoring are expected to restrain market growth to a certain extent. Yet, recent research & development activities in the therapeutic drug coupled with increase in funding for the development of novel drugs for patient monitoring are expected to gain traction in the near future.

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Therapeutic Drug Monitoring Market, Product Outlook, by Revenue (USD Million, 2013 – 2024)

Consumables
Equipment
Others

Therapeutic Drug Monitoring Market, Technology Outlook, by Revenue (USD Million, 2013 – 2024)

Immunoassays
Proteomic technologies
Others

Therapeutic Drug Monitoring Market Drug, Class Outlook, by Revenue (USD Million, 2013 – 2024)

Anti-epileptics
Antibiotics
Immunosuppressants
Psychoactive drugs
Antiarrhythmic drugs
Others

Therapeutic Drug Monitoring Market, End-use Outlook, by Revenue (USD Million, 2013 – 2024)

Hospital labs
Private labs
Others

The key players in the therapeutic drug monitoring industry are Roche AG, Siemens Healthcare GmbH, Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc., Beckman Coulter, Inc., Abbott Laboratories, Inc., Agilent Technologies, Inc., bioMérieux, Inc., Alere, Inc., and Probe Scientific Ltd.

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The therapeutic drug monitoring market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in medicine & pharmaceuticals and existence of well-established healthcare infrastructure in the region. Asia-Pacific region is predicted to hold major market share in the therapeutic drug monitoring with massive growth in forecast period.

Countries such as India, China, Malaysia and Japan are leading the Asia-Pacific market with favorable government laws & regulations, improved healthcare infrastructure, rising per capita income, higher approval rate of therapeutic drugs, and significant investment by leading industry players considering potential growth opportunities in the region.

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