Technological advancements in healthcare sector have brought personalized medicine into practice. Therapeutic drug monitoring is form of personalized medicine technology which enables individualization of medicine dosage by analyzing and maintaining plasma or blood drug concentrations within a target range. Therapeutic drug monitoring has evolved considerably in past few years with development of highly efficient and portable solutions which enable on-site or point-of-care therapeutic drug monitoring. This shift of therapeutic drug monitoring from laboratory based settings to near patient settings has decreased the wait time and costs associated with delayed treatments. Major market players such as R-Biopharm AG and Abbott amongst others are providing rapid point-of-care solutions for therapeutic drug monitoring that utilizes a network of sensors which facilitate on-site analysis. Thus, the growing technological advancements in therapeutic drug monitoring is reducing turn-around time and instrumentation cost, hence propelling the growth of global therapeutic drug monitoring market.
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The recent outbreak of COVID-19 pandemic has accelerated clinical research activities related to drug development. These high number of research activities are anticipated to inflate the demand in global therapeutic drug monitoring market for analyzing the performance of drugs. The COVID-19 outbreak is expected to have a positive impact on the global therapeutic drug monitoring market. There is an opportunity for companies to provide products that can help in monitoring drug levels in test subjects, as well as patients. Chromsystems Instruments & Chemicals GmbH, for example, is ensuring that the drug candidates can be monitored using MassTox® TDM Series A products. Therefore, the global therapeutic drug monitoring market seems to be an attractive investment option in the coming years.
The detailed research study provides qualitative and quantitative analysis of therapeutic drug monitoring market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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Key Findings of the Report:
- The global therapeutic drug monitoring market was valued at US$ 1465.62 Mn in 2018 and is anticipated to witness a compound annual growth rate of 6.27% over the forecast period owing to the significant rise in chronic diseases.
- The growing prevalence of cardiovascular disease amongst worldwide population coupled with the need for analyzing effects of drugs in these patients is driving the share of cardiac drugs in global therapeutic drug monitoring market.
- Fluorescence immunoassay technology contributed for a significant share of global therapeutic drug monitoring market owing to its high specificity, reliability and ease of handling.
- North America accounted for the highest market share in global therapeutic drug monitoring market in 2018. The high presence of elderly and obese people, which are at high risk of medication errors, is creating demand for therapeutic drug monitoring and hence driving the share of North America region.
- Some of the players operating in the therapeutic drug monitoring market are Abbot, Agilent Technologies, apDia Group, ARK Diagnostics, Inc., Beckman Coulter, Inc., bioMérieux S.A., Bio-Rad Laboratories, Inc., BioTeZ Berlin Buch GmbH, BÜHLMANN, Chromsystems Instruments & Chemicals GmbH, Exagen, Inc., F. Hoffmann-La Roche Ltd, Hamilton Company, Immundiagnostik AG, Quest Diagnostics Incorporated, Randox Laboratories Ltd., R-Biopharm AG, SEKISUI CHEMICAL CO., LTD., Siemens Healthcare Private Limited, THERADIAG, Thermo Fisher Scientific Inc. and UTAK amongst others.
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Global Therapeutic Drug Monitoring Market:
- By Drugs
- Antibiotics
- Cardiac Drugs
- Antiepileptics
- Bronchodilators
- Immunosuppressants
- Anti-cancer drugs
- Psychiatric drugs
- Antiarrythmics
- Others
- By Products
- Consumables
- Equipment
- Immunoassay Analyzers
- Chromatography and MS Detectors
- Others
- Others
- By Technology
- Fluorescence Immunoassay
- Chemiluminescent Immunoassays
- Radioimmunassay
- Thin Layer Chromatography
- Radio immuno assay
- Enzyme immune assay
- Spectrophotometry and Fluorimetry
- Others
- By End Users
- Hospitals & Clinics
- Diagnostic centers
- Research institutes
- Others
- By Region
- North America
- U.S
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- North America
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