The therapeutic drug monitoring market has grown significantly with a rising preference for precision medicines
Precision medicine is a novel approach that involves selecting drugs wholly tailored to a patient based on disease condition and history. With the technological advancement and surge in the incidence of chronic diseases, the demand for therapeutic drug monitoring is also increasing. Although this practice expands into all disease areas, oncology has progressed the most. The consumables segment will hold the maximum share during the forecast period owing to rising immunoassays tests being performed worldwide.
Within the report, the market is segmented into product, technology, drug class, end-user, and geography. By product, the market is bifurcated into equipments and consumables. By technology, the market is categorized into immunoassays, chromatography-Ms, radioimmunoassays, and others. By drug class, the market is segmented into antibiotic drugs, antiepileptic drugs, antiarrhythmic drugs, bronchodilator drugs, immunosuppressant drugs, psychoactive drugs, anti-cancer drugs, and other drugs. Based on end-user, the market is divided into hospital laboratories, private laboratories and other laboratories. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Adoption for autoimmune disorders will provide future opportunity
Therapeutic drug monitoring helps to measure and maintain uniform drug concentration in the patient's bloodstream for better results. Therapeutic drug monitoring is part of personalized medicine where measurement of medication concentration in the bloodstream is necessary. Therapeutic drug monitoring is used in the case of specific drug concentration requirements.
Anti-TNF-alpha biologics is an efficient management for autoimmune diseases, such as rheumatoid arthritis (RA) and inflammatory bowel disease (IBD). To lower healthcare costs, the development of cost-effective biosimilars has rapidly increased over the last few years. For instance, TNF-alpha blockers, including infliximab and adalimumab, have the ability to trigger immunogenicity responses; scientists have hypothesized that their biosimilars drugs (CT-P13) may also promote immunogenicity. Therefore, it is important to design methods for the TDM of biosimilar drugs for autoimmune diseases to ensure effective patient care.
Rising organ transplants is of the major factors accelerating market growth.
The rise in organic transplants is also propelling the growth of the market. Immunosuppresant drugs are basic therapy for organ transplant to avoid rejection of transplanted organ by body, which needs drug monitoring to prevent side effects. Asia Pacific is a optimistic region for organ transplant attributed to increased awareness and infrastructure availability. Therefore, with the increase in organ transplants, there is the surge in demand for.
Recent strategic developments in the therapeutic drug monitoring market
The therapeutic drug monitoring market has undergone several significant developments, and a few of these have been mentioned below:
Several players drive the therapeutic drug monitoring market by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific, Bio-Rad Laboratories, Danaher Corporation (Beckman Coulter Inc), and Siemens AG among others, are among the prominent players operating in the market.
Target audience for the report:
Scope of the report:
In this report, the market has been segmented on the basis of:
Companies profiled
- Abbott Laboratories
- Agilent Technologies, Inc.
- Bio-Rad Laboratories Inc
- bioMerieux SA
- B?hlmann Laboratories AG
- Danaher Corporation
- F. Hoffmann-La Roche Ltd
- Randox Laboratories Ltd.
- Sekisui Medical Co. Ltd.
- Siemens Healthineers
- Thermo Fisher Scientific