Global Therapeutic Drug Monitoring Market Report 2023-2027: Burgeoning Opportunities in Increasing Prevalence of Autoimmune Diseases and Developments in BRICS Countries

DUBLIN, Feb. 10, 2023 /PRNewswire/ -- The "Global Therapeutic Drug Monitoring Market 2023" report has been added to ResearchAndMarkets.com's offering.

The global therapeutic drug monitoring market is projected to reach USD 2.9 billion by 2027 from USD 1.8 billion in 2022, at a CAGR of 9.6%

Therapeutic drug monitoring (TDM) plays a significant role in clinical decision-making and is rapidly becoming an essential and specialized element of patient treatment. TDM is the branch of clinical chemistry that measures specific drugs at designated intervals to maintain a constant concentration in a patient's bloodstream, optimizing individual dosage regimens.

The growth of this market is majorly driven by a high awaiting number of organ transplant procedures and the expanding inclination for precision medicine. However, a lack of infrastructure and low awareness in middle/low-income countries may challenge the growth of this market.

Liquid Chromatography-Mass Spectrometry in the technology segment to witness the highest growth during the forecast period

Based on the technology, the Therapeutic Drug Monitoring Market is segmented into Immunoassays - Chemiluminescence Immunoassays, Chemiluminescence Immunoassays, Colorimetric Immunoassays, Fluorescence Immunoassays, Radioimmunoassay, Other Immunoassays, Chromatography-MS - LC-MS, GC-MS, The LC-MS is projected to grow at the highest CAGR during the forecast period.

The significant factors contributing to the growth of this market are affordability, reliability, and its availability in automated platform, as well as wide benefits of advanced HPLC usage in TDM drugs.

Asia Pacific is estimated to register the highest CAGR during the forecast period

In this report, the Therapeutic Drug Monitoring market is segmented into four major regional segments: North America, Europe, Asia Pacific, and the Rest of the World (RoW). The market in Asia Pacific is projected to register the highest growth rate during the forecast period.

The growth in this market is primarily driven by the upsurging population (especially in Japan and China), availability of comprehensive government healthcare coverage in Japan (for transplantation & related diagnostic procedures), government efforts to increase awareness about primitive disease detection and health check-ups, rising government expenditure in China and India to remodel and expand healthcare infrastructure, and the growing prevalence of severe diseases

Premium Insights

• Rising Preference for Precision Medicine to Drive Tdm Market
• Antiepileptic Drugs Accounted for Largest Share in 2021
• China to Register Highest CAGR
• Asia-Pacific Market to Witness Highest Growth During Forecast Period
• Emerging Economies to Register Higher Growth During Forecast Period

Market Dynamics

Drivers

• Importance of Tdm in Organ Transplant Procedures
• Use of Tdm Across Various Therapeutic Fields
• Increasing Preference for Precision Medicine
• Growing Focus on R&D Related to Tdm
• Increasing Incidence of Chronic and Infectious Diseases and Growing Awareness About Early Disease Diagnosis

Restraints

• High Capital Investments
• Reluctance of Small Hospitals to Offer Tdm Services

Opportunities

• Increasing Prevalence of Autoimmune Diseases
• Significant Opportunities in Brics Countries

Challenges

• Alternatives to Conventional Tdm
• Operational Barriers Faced in Conducting Tdm Tests
• Lack of Infrastructure and Low Awareness in Low/Middle-Income Countries

Company Profiles

Key Players

• Abbott
• Thermo Fisher Scientific
• F. Hoffmann-La Roche
• Siemens Healthineers Ag
• Danaher Corporation
• Bio-Rad Laboratories
• Biomerieux Sa
• Theradiag
• Grifols S.A.
• Exagen Inc.
• Ark Diagnostics, Inc.
• R-Biopharm Ag

Other Players

• Apdia Group
• Biotez Berlin Buch GmbH
• Eagle Biosciences, Inc.
• Jasem Laboratory Systems and Solutions
• Aalto Scientific, Ltd.
• Immundiagnostik Ag
• Utak
• Sekisui Medical Co., Ltd.
• Diasystem Scandinavia Ab
• Cambridge Life Sciences Limited
• Chromsystems Instruments & Chemicals GmbH
• Buhlmann Laboratories Ag
• Sjk Global, LLC.
• Epitope Diagnostics, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/g5f567

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