Global Therapeutic Drug Monitoring Market Projected to Reach USD 1923.18 Million by 2026

03-Sep-2020 | Facts and Factors

Findings from Facts and Factors report “Therapeutic Drug Monitoring Market by Product (Consumables and Equipment), By Technology (Immunoassays, Colorimetric Immunoassays, Radioimmunoassays, Other immunoassays, and Chromatography-MS), by Class of Drug (Antiepileptic drugs, Antiarrhythmic drugs, Immunosuppressant Drugs, Antibiotic drugs, Bronchodilator drugs, Psychoactive drugs, and Other drug classes), by End-user (Hospital laboratories, Commercial/private laboratories, and Other end-users) and Regions: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global therapeutic drug monitoring market in 2019 was approximately USD 1296.0 Million. The market is expected to grow at a CAGR of 5.8% and is anticipated to reach around USD 1923.18 Million by 2026.

Global Therapeutic Drug Monitoring Market Size

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Therapeutic Drug Management measures the concentration of a drug in the blood at scheduled intervals. The Therapeutic Drug Management (TDM) is used to assess the dosage at which the medication is most safe and reliable. The COVID-19, an emerging, rapidly evolving situation has become a factor that is creating a huge demand for the therapeutic drug monitoring and intern boosting the growth of the global market. Increased use of TDM in traditional anticancer therapies, coupled with an increasing number of organ transplantation procedures around the globe, are factors driving the growth of the global market. Nevertheless, the inability of small hospitals to provide TDM services is a concern that is projected to impede the development of the global industry in the immediate future. Monitoring of biosimilars in autoimmune diseases can create growth opportunities in the global market in the future. 

Browse the full “Therapeutic Drug Monitoring Market by Product (Consumables and Equipment), By Technology (Immunoassays, Colorimetric Immunoassays, Radioimmunoassays, Other immunoassays, and Chromatography-MS), by Class of Drug (Antiepileptic drugs, Antiarrhythmic drugs, Immunosuppressant Drugs, Antibiotic drugs, Bronchodilator drugs, Psychoactive drugs, and Other drug classes), by End-user (Hospital laboratories, Commercial/private laboratories, and Other end-users) and Regions: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" https://www.fnfresearch.com/therapeutic-drug-monitoring-market-by-product-consumables-and-1274

Report Scope

Report Attributes

Details

Market Size in 2019

USD 1296.0 Million

Projected Market Size in 2026

USD 1923.18 Million

Growth Rate

CAGR 5.8%

Base Year

2019

Forecast Years

2020–2026

Key Market Players

Abbott Laboratories, Danaher Corporation, Biomérieux, Bühlmann Laboratories, Randox Laboratories Hoffmann-La Roche, Siemens Healthineers, Thermo Fisher Scientific, Bio-Rad Laboratories, and Sekisui Medical. Key operating players in the global therapeutic drug monitoring market are aiming towards mergers and acquisitions in order to get a competitive edge in the market.

Key Segment

By Product, By Technology, By Class of Drug, By End User, By Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

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The global therapeutic drug monitoring market is segmented on the basis of product, class of drug, technology, and end-user. On the basis of product type, the global market is categorized into consumables and equipment. Based on technology the global market is bifurcated into immunoassays, colorimetric immunoassays, radioimmunoassays, other immunoassays, and chromatography-MS. The global market is segmented into antiepileptic drugs, antiarrhythmic drugs, immunosuppressant drugs, antibiotic drugs, bronchodilator drugs, psychoactive drugs, and other drug classes, depending upon the class of the drugs. Also, the end-users in the global market includes hospital laboratories, commercial/private laboratories, and other end-users

Based upon the region the global market has been categorized as North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. North America is expected to dominate in the global market in terms of revenue as compared to that of markets in other regions during the forecast period 2020-2026. This is attributed to increasing per capita expenditure on healthcare and the presence of technologically advanced healthcare infrastructure in the region. Initiatives taken by different government associations are also expected to boost the market growth in the coming years. The growth in the Asia Pacific countries is the presence of a favorable business environment in the countries of the Asia Pacific. Asian countries, particularly China, India, and Japan, are showing the highest rates of health spending growth. This, together with the rapidly growing geriatric population and increasing disposable income, makes the Asia Pacific an attractive market for the target market.

Key players operating in the therapeutic drug monitoring market not restricted to include Abbott Laboratories, Danaher Corporation, Biomérieux, Bühlmann Laboratories, Randox Laboratories Hoffmann-La Roche, Siemens Healthineers, Thermo Fisher Scientific, Bio-Rad Laboratories, and Sekisui Medical. Key operating players in the global therapeutic drug monitoring market are aiming towards mergers and acquisitions in order to get a competitive edge in the market. 

This report segments the therapeutic drug monitoring market as follows:

Global Therapeutic Drug Monitoring Market: By Product

  • Consumables
  • Equipment
    • Immunoassay analyzers
    • Chromatography and MS detectors
    • Clinical chemistry analyzers

Global Therapeutic Drug Monitoring Market: By Technology

  • Immunoassays
    • Chemiluminescent immunoassays
    • Fluorescence immunoassays
  • Colorimetric Immunoassays
  • Radioimmunoassays
  • Other immunoassays
  • Chromatography-MS
    • Liquid Chromatography/Mass Spectrometry
    • Gas Chromatography-Mass Spectrometry

Global Therapeutic Drug Monitoring Market: By Class of Drug

  • Antiepileptic drugs
  • Antiarrhythmic drugs
  • Immunosuppressant drugs
  • Antibiotic drugs
  • Bronchodilator drugs
  • Psychoactive drugs
  • Other drug classes

Global Therapeutic Drug Monitoring Market: By End User

  • Hospital laboratories
  • Commercial/private laboratories
  • Other end users

Global Therapeutic Drug Monitoring Market: Regional Segmentation Analysis

  • 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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