The global Therapeutic Drug Monitoring market was worth around USD 1,692.90 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 global Therapeutic Drug Monitoring market was worth around USD 1,692.90 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 Therapeutic Drug Monitoring 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 Therapeutic Drug Monitoring market.
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.
Globally, COVID-19 has had a global impact on the pharmaceutical, diagnostics, and medical industries, especially the therapeutic drug monitoring sector.Closed manufacturing facilities impacted supply chains and limited recruitment; nonetheless, restarting clinical trials in the COVID-19 pandemic recovery phase 2021 will be difficult because to restricted access at trial sites. As a result, any further delays in clinical trials will have an impact on the overall therapeutic drug monitoring market's growth in 2021. As a result of the sick population, medical supplies are in higher demand. Respiratory support equipment, such as an atomizer, a life-support machine, an oxygen generator, and a monitor, are among the most regularly utilised medical devices in primary clinical care. The need for medical supplies from both healthcare professionals and the general population is increasing as the number of COVID-19 cases increases around the world. By keeping a consistent supply of personal protective equipment on the market, manufacturers of these items can profit from the increased demand for medical supplies.
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..
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.
|Historic Years||2016 - 2020|
|Forecast Years||2021 - 2028|
|Segments Covered||By Product Type, By Application, and By End Use|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Quantitative Units||Revenue in USD million/billion and CAGR from 2021 to 2028|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World|
|Countries Covered||U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Number of Companies Covered||10 companies with scope for including additional 15 companies upon request|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
|Customization Scope||Avail customized purchase options to meet your exact research needs.|
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.
Some of the main competitors dominating the global Therapeutic Drug Monitoring market include - 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), and BÜHLMANN Laboratories (Switzerland).
Global Therapeutic Drug Monitoring market is segmented as follows:
By Product Split
By Technology Split
By Class of drug Split
By End user Split
Therapeutic drug monitoring(TDM)has several benefits for patients who are on regular medication or suffering from illnesses, infections, accidents, surgeries, and physical stresses. It involves regular measurement of medicines and drugs in order to maintain a constant concentration of medications in the bloodstream. These days therapeutic drug monitoring (TDM) has become a highly essential and vital method to avoid drug toxicity. Adverse drug reactions occur due to inaccurate dosage and, sometimes, lead to critical medical conditions and, in many cases, lead to death, if not managed properly.
Growing demand for therapeutic drug monitoring around the world for organized disease treatment is the key driver for the global therapeutic drug monitoring market. In addition, the growing geriatric population and the rapid increase in the prevalence of cancer and diabetes are further expected to augment the growth of this market in the upcoming years. However, the high cost of therapeutic drug monitoring, strict government regulations, and lack of trained resources are the major factors restraining the growth of the therapeutic drug monitoring market. On the other hand, rapid technological advancements in therapeutics drug monitoring solutions are likely to offer prospective opportunities in the forecast timeframe.
On the basis of product type, the market is segmented into equipment and consumables. Among these, the equipment segment was the highest revenue grosser in the year 2017.
On the basis of drug class, the market is segmented into antiarrhythmic drugs, antibiotic drugs, immunosuppressant drugs, bronchodilator drugs, psychoactive drug, antiepileptic drugs, and others.
The end-users in the therapeutic drug monitoring market are commercial/private labs, hospital labs, and others. The commercial/private companies dominated the market and accounted for the largest share in 2017. The growth of this segment is primarily credited to the growing awareness among people regarding the benefits of therapeutic drug monitoring. The hospital lab segment is projected to grow at the highest CAGR in the forecast span.
Based on geography, the global therapeutic drug monitoring market is divided into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America was the leading region in terms of revenue generation in 2017. Europe was the second largest market followed by the Asia Pacific. The Asia Pacific therapeutic drug monitoring market was the fastest growing market in 2017 and is anticipated to grow at a significant pace in the following years. The growth in this region can be attributed to the rapid development of healthcare infrastructure and heightened corporate investments in the healthcare sector. The Middle East and African and Latin American regions are expected to experience moderate growth in the therapeutic drug monitoring market in the years to come.
Some of the major players in the global therapeutic drug monitoring market are F. Hoffmann-La Roche AG, Thermo Fisher Scientific, Siemens Healthcare, Bio-Rad Laboratories Inc., and Danaher Corporation, among others.
The therapeutic drug monitoring market is predicted to develop due to factors such as an increase in demand for better healthcare in the urban population, an increase in the number of organ transplant surgeries, and the use of therapeutic drug monitoring in traditional anticancer therapy.
According to the Market Research report, the global Therapeutic Drug Monitoring market was worth about 1692.90 (USD billion) in 2021 and is predicted to grow to around 2854.83 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 9.10 percent.
North America leads the global Therapeutic Drug Monitoring because of the region's technologically advanced healthcare infrastructure. Due to increased investments in the region, Asia-Pacific (APAC) is predicted to develop significantly during the forecast period of 2022 to 2029.