Therapeutic Drug Monitoring Market Will Reach USD 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 Reseach:
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
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.
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