At 9.10% CAGR, Therapeutic Drug Monitoring Market Size is Expected to Reach USD 2854.83 Billion by 2027 Says Zion Market Research | Global Therapeutic Drug Monitoring Industry Trends, Share, Analysis & Forecast Report

NEW YORK, May 31, 2022 /PRNewswire/ -- As per Zion Market Research study, The global Therapeutic Drug Monitoring market was worth around USD 1692.90 billion in 2021 and is estimated to grow to about USD 2854.83 billion by 2028, with a compound annual growth rate (CAGR) of approximately 9.10 percent over the forecast period. The report analyzes the digital remittance market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the digital remittance market.

Key Industry Insights & Finding of the Therapeutic Drug Monitoring Market Reports:

• As per the analysis shared by our research analyst, the Therapeutic Drug Monitoring Market is expected to grow annually at a CAGR of around 9.10 % (2022-2028).
• Through the primary research, it was established that the Therapeutic Drug Monitoring Market was valued approximately USD 1692.90 Billion in 2021 and is projected to reach to roughly USD 2854.83 Billion by 2028.
• North America is having the largest share because of its superior health care base, strong regional economies, and government emphasis on prevention and wellness.
• Increased per capita healthcare expenditures and the development of technologically advanced healthcare infrastructure are driving this industry forward.
• Focus has changed away from simple TDM tests and toward comprehensive testing in order to identify the gaps between prescribing the correct drug dosage and attaining the intended therapeutic outcome.

Zion Market Research published the latest report titled as  "Therapeutic Drug Monitoring Market by Product Split (Consumables, Equipment, Immunoassay Analyzers, Chromatography & MS Detectors , Clinical Chemistry Analyzers), By Technology Split (Immunoassays., Chemiluminescence Immunoassays, Colorimetric Immunoassays, Fluorescence Immunoassays, Radioimmunoassays, Other Immunoassays, Chromatography-MS, LC-MS, GC-MS), By Class of drug Split (Antiepileptic Drugs, Antibiotic Drugs, Immunosuppressant Drugs, Antiarrhythmic Drugs, Bronchodilator Drugs, Psychoactive Drugs, Other Drugs), By End User Split (Hospital Laboratories, Commercial & Private Laboratories, Other End Users) and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data and Forecasts 2021 – 2028." into their research database.

Therapeutic Drug Monitoring Market: Overview

Therapeutic drug monitoring is a test that involves measuring different medications in the bloodstream to ensure that the correct amount of treatment is being provided. It determines whether the quantity is sufficient to be useful while avoiding any serious reactions or adverse effects. Anti-arrhythmics, antibiotics, anti-epileptics, and psychotropic medications all require monitoring to guarantee their safety and effectiveness.

 One of the primary factors driving the market's growth is the increase in demand for hospitals and medical care facilities around the world.The growing importance of (TDM) in organ transplant procedures, as well as a growing inclination for precision medicine, are propelling the market forward. The market is also influenced by the increased focus on drug research and development activities, as well as the widespread use of drug monitoring tests across many therapeutic disciplines.

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Industry Dynamics:

Therapeutic Drug Monitoring Market: Growth Drivers

• Increasing preference for precision medicine of the market growth.

Precision medicine is a growing field of disease treatment and prevention that takes into account individual differences in genes, surroundings, and lifestyles. Precision medicine is picking treatments that are completely suited to a patient's ailment and medical history. Oncology has experienced the most development, despite the fact that this technique is extending into all disease areas. Cancer patients are being treated with a combination of medications based on studies of the patient's factors such as systems biology, tumour analysis, and gene expression data in the absence and presence of pharmacological disruption. This method, which is now being tried in a variety of situations, intends to transform pharmacotherapy in oncology and other disease areas. TDM has the potential to make a significant contribution to the advancement of this unique approach to patient care.

Therapeutic Drug Monitoring Market: Restraints

• Operational barriers faced in conducting TDM tests of the market growth.

Clinical laboratories across major markets are still changing. As a result, technicians have operational issues in procuring, storing, and transporting samples, particularly when using novel technologies like chemiluminescence immunoassays, HPLC, and multiplex flow immunoassays (MFI). To eliminate cross-contamination and maintain efficient time management, laboratory space must also be redesigned to match the requirements of conducting specialised immunoassay tests for pathogen identification. The cost of maintaining and operating modern immunoassay devices, especially those that can only handle a single sample type, is prohibitive.

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Global Therapeutic Drug Monitoring Market: Opportunities

• Increasing adoption in the treatment of autoimmune diseases of the market growth.

Anti-TNF-alpha biologics are used to treat autoimmune illnesses such rheumatoid arthritis (RA) and inflammatory bowel disease (IBD) (IBD). The number of R&D initiatives focusing on the creation of biosimilars has expanded in recent years as healthcare expenses have risen and patents have expired. With the introduction of biosimilars to the market, there is a greater need to evaluate potential changes in biosimilar immunogenicity, as well as their safety and effectiveness characteristics when compared to their predecessors. TNF-alpha blockers like infliximab and adalimumab, for example, can both elicit immunogenicity reactions; researchers have speculated that their biosimilars medicines (CT-P13) may do the same. To provide optimal patient care, it is critical to develop methodologies for the TDM of biosimilar medications for autoimmune disorders.

Global Therapeutic Drug Monitoring Market: Segmentation

• The global Therapeutic Drug Monitoring market is segregated based on product split, technology split, glass of drug split,end user split ,

 and region.

The Therapeutic Drug Monitoring market is divided into Consumables, Equipment-Immunoassay Analyzers, Chromatography & MS Detectors, and Clinical Chemistry Analyzers based on the type of product. During the period of 2021 to 2028, the Consumables segment is expected to grow at the fastest CAGR. The demand for recurring purchases of kits and reagents, as well as the growing number of immunoassay tests performed around the world, are two important reasons driving the growth of this market.

By end user split, the market is divided into Hospital Laboratories, Commercial & Private Laboratories and Other End Users). Hospital Laboratories is having the largest share for the end uer split. Personalized medicine is propelling the therapeutic drug monitoring market forward, owing to rising desire for improved treatment outcomes with fewer medication side effects. TDM, for example, is widely used for anti-cancer drug monitoring, for which various oncology journals and societies, including the European Journal of Oncology, have published standard standards. Advanced treatment techniques such as pharmacogenomics, gene testing, and proteomics are also projected to drive market expansion. One of the primary factors driving the TDM market's growth is the rise of antimicrobial resistance.

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List of Key Players of Therapeutic Drug Monitoring Market:

• Abbott (US)
• Thermo Fisher Scientific (US)
• F. Hoffmann-La Roche Ltd. (Switzerland)
• Siemens Healthineers AG (Germany)
• Danaher Corporation (US)
• Bio-Rad Laboratories (US)
• bioMérieux SA (France)
• Theradiag SA (France)
• Grifols S.A. (Spain)
• Exagen Inc. (US)
• R-Biopharm AG (Germany)
• ApDia Group (Belgium)
• UTAK (US)
• Randox Laboratories Ltd. (Ireland)
• ARK Diagnostics Inc. (US).
• BioTeZ Berlin-Buch GmbH (Germany)
• Eagle Biosciences Inc. (US)
• Jasem Laboratory Systems and Solutions (Turkey)
• Aalto Scientific Ltd. (US)
• Immundiagnostik AG (Germany)
• Sekisui Medical Co. Ltd. (Japan)
• DiaSystem Scandinavia AB (Sweden)
• Cambridge Life Sciences Limited (UK)
• Chromsystems Instruments & Chemicals GmbH (Germany)
• BÜHLMANN Laboratories (Switzerland).

Key questions answered in this report:

• What are the growth rate forecast and market size for Therapeutic Drug Monitoring Market?
• What are the key driving factors propelling the Therapeutic Drug Monitoring Market forward?
• What are the most important companies in the Therapeutic Drug Monitoring Market Industry?
• What segments does the Therapeutic Drug Monitoring Market cover?
• How can I receive a free copy of the Therapeutic Drug Monitoring Market sample report and company profiles?

Report Scope:

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Recent Developments

• June 2021 - Implementing a personalised therapeutic drug monitoring (TDM) strategy at the time of infliximab beginning does not increase remission rates in patients with a variety of inflammatory disorders, according to study results presented at the EULAR 2020 E-Congress.
• February 2019 - LabCorp, a prominent global life sciences firm, recently announced the addition of a new assay to its DoseASSURE therapeutic drug monitoring (TDM) platform. The novel Certolizumab Concentration and Anti-Certolizumab Antibody DoseASSURE CTZ assay aids physicians in tracking individual treatment response in patients taking Certolizumab, a biologic therapy used to treat inflammatory illnesses like rheumatoid arthritis and Crohn's disease.

Regional Dominance:

• Advanced healthcare infrastructure.

North America is having the largest share because of its superior health care base, strong regional economies, and government emphasis on prevention and wellness. Increased per capita healthcare expenditures and the development of technologically advanced healthcare infrastructure are driving this industry forward. Furthermore, the region's focus has changed away from simple TDM tests and toward comprehensive testing in order to identify the gaps between prescribing the correct drug dosage and attaining the intended therapeutic outcome.

Global Therapeutic Drug Monitoring Market is segmented as follows:

Therapeutic Drug Monitoring Market: By Product Split Outlook (2022-2028)

• Consumables
• Equipment
• Immunoassay Analyzers
• Chromatography & MS Detectors
• Clinical Chemistry Analyzers

Therapeutic Drug Monitoring Market: By Technology Split Outlook (2022-2028)

• Immunoassays.
• Chemiluminescence Immunoassays
• Colorimetric Immunoassays
• Fluorescence Immunoassays
• Radioimmunoassays
• Other Immunoassays
• Chromatography-MS
• LC-MS
• GC-MS

Therapeutic Drug Monitoring Market: By Class of drug Split Outlook (2022-2028)

• Antiepileptic Drugs
• Antibiotic Drugs
• Immunosuppressant Drugs
• Antiarrhythmic Drugs
• Bronchodilator Drugs
• Psychoactive Drugs
• Other Drugs

Therapeutic Drug Monitoring Market: By End user Split Outlook (2022-2028)

• Hospital Laboratories
• Commercial & Private Laboratories
• Other End Users

Therapeutic Drug Monitoring Market: By Region Outlook (2022-2028)

North America

• The U.S.
• Canada

Europe

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa

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