Therapeutic Drug Monitoring Market Is Anticipated To Reach $3.37 Billion By 2024: Grand View Research, Inc.
The global therapeutic drug monitoring market is expected to
reach over USD 3.37 billion by 2024, according to a new report by Grand View
Research, Inc. Recent technological advancements in the Point-of-Care (PoC)
devices hold considerable transformative promises for the personalized
predictive and preventive medicine. Therapeutic Drug Monitoring (TDM) forms a
foundational part to the devising of personalized treatment plans for patients;
and the advent of PoC diagnostic devices that yield quantitative measurements
of the drug concentration plays a pivotal role in supporting the development of
the precision medicine field in the healthcare sector. However, the broad
application of the PoC devices for patient monitoring is still lagging behind.
The presence of this untapped opportunity is one of the high impact rendering
drivers for the market growth.
The employment of continuous therapeutic drug and metabolite
monitoring in the early phase of the medication regimen, administered
post-organ transplantation, forms a major application in the areas of critical
care medicine and organ transplantation, which is expected to propel the growth
of the therapeutic drug monitoring market over the forecast period. In
addition, the imposing burden of diseases, such as epilepsy and cancer, the
rising government initiatives, and the presence of high-unmet needs are some of
the crucial determinants expected to further favor the emergence of this
market.
Browse full research report on Therapeutic Drug Monitoring Market: http://www.grandviewresearch.com/industry-analysis/therapeutic-drug-monitoring-market
Further key findings from the study suggest:
- The
consumables segment covered over 65% of the market share in 2015 as a
consequence of the extensive requirement of the consumables in the
research laboratories and due to the repeat purchase of the kits and
reagents.
- The
immunoassay segment held the largest market share in 2015. The presence of
several commercially available immunoassays combined with their associated
benefits including the cost effectiveness and easy-to-handle nature of the
products are the key drivers for the growth of this segment.
- The
proteomics category is expected to be the fastest growing technology
segment due to the advent of various proteomic technologies, such as
isotope-coded affinity tags, next generation sequencing, and protein
microarray platforms that enable rapid mining of the proteome.
- The
hospital is the largest end-use segment with a share of over 60% in 2015.
In larger hospitals, various underlying technologies are employed to
perform immunoassays; these comprise chemiluminescence, nephelometry,
colorimetry, and fluorescence, which are available for the testing of a
wide ranging drug panel.
- The
drug monitoring for the immunosuppressants is one of the fastest growing
application segments owing to the introduction of novel TDM point-of-care
testing devices for the evaluation of the concentration of administered
immunosuppressants and the complementary metabolites, in order to achieve
a prominent therapeutic effect while preventing drug toxicity events in
patients that have undergone transplantations.
- In
2015, North America was the highest revenue generating region with revenue
generated over USD 900 million. The rising number of R&D activities
coupled with the high awareness about personalized therapy is the major
determining factor for the large share captured by the North America
region.
- Few of
the leading market players are Roche Diagnostics, Siemens Healthcare GmbH,
Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc., Beckman
Coulter, Inc., Abbott Laboratories, Inc., Agilent Technologies, Inc.,
bioMérieux, Inc., and Alere, Inc. The persistent R&D efforts are being
undertaken along with numerous other strategic endeavors being adopted by
the market players with the objective of enhancing the present drug
monitoring practices and to develop novel technologies.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/biotechnology
Grand View Research has segmented the therapeutic drug
monitoring market on the basis of product, technology, application,
end-use, and region:
Therapeutic Drug Monitoring Market, Product Outlook, by
Revenue (USD Million, 2013 - 2024)
- Consumables
- Equipment
- Others
Therapeutic Drug Monitoring Market, Technology Outlook,
by Revenue (USD Million, 2013 - 2024)
- Immunoassays
- Proteomic
technologies
- Others
Therapeutic Drug Monitoring Market Drug, Class Outlook,
by Revenue (USD Million, 2013 - 2024)
- Anti-epileptics
- Antibiotics
- Immunosuppressants
- Psychoactive
drugs
- Antiarrhythmic
drugs
- Others
Therapeutic Drug Monitoring Market, End-use Outlook, by
Revenue (USD Million, 2013 - 2024)
- Hospital
labs
- Private
labs
- Others
Therapeutic Drug Monitoring Market, Regional Outlook, by
Revenue (USD Million, 2013 - 2024)
- North
America
- U.S.
- Canada
- Europe
- UK
- Germany
- Asia
Pacific
- Japan
- China
- Latin
America
- Brazil
- MEA
- South
Africa
Access press release of this research report by Grand
View Research: http://www.grandviewresearch.com/press-release/global-therapeutic-drug-monitoring-market
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more information: www.grandviewresearch.com
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