Dublin, Jan. 06, 2025 (GLOBE NEWSWIRE) — The “Therapeutic Drug Monitoring Market by Product, Technology, Drug Class, Therapeutic Area, Specimen, End User – Global Forecast to 2029” report has been added to ResearchAndMarkets.com’s offering.
It is anticipated that the therapeutic drug monitoring market will grow from USD 2.30 billion in 2024 to USD 3.44 billion by 2029, with a steady compound annual growth rate (CAGR) of 8.4%
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall therapeutic drug monitoring market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Advancements in immunoassay techniques remain a key driver of this growth, influencing the sector’s trajectory in a positive manner. These techniques aim to improve the accuracy, speed, and specificity of medication monitoring, including enhanced chemiluminescence, ELISA, and fluorescence enhancement.
In the meantime, healthcare professionals are becoming more aware of the significance of TDM in improving therapeutic outcomes, leading to its incorporation into clinical settings. Education and training initiatives have raised clinicians’ understanding of the advantages of TDM, making it easier for the technology to be implemented in everyday patient care. Collaboratively, these elements are influencing a dynamic and growing market environment.
Consumables segment is expected to grow at the highest CAGR during the forecast period, by product.
The consumables segment holds the highest CAGR in the therapeutic drug monitoring. Consumables such as reagents, assay kits, and calibrators create a very important part in the TDM market as they are integral in routine monitoring of drugs for chronic but complex-to-cure conditions such as cancer, cardiovascular, and neurological disorders.
Demand for high-quality consumables is growing as a result of the increased focus on customized therapy and the need for precise medication level evaluation. Additionally, spending money on advanced TDM systems produced by labs and hospitals would raise demand for its related goods, which would support market expansion.
Blood segment is expected to hold the largest share of TDM market during the forecast period, by specimen.
Blood, as it is the most used specimen for TDM, fuels the market owing to its capability to provide precise and direct measurement of drug concentrations in plasma or serum. Well-established protocols in the collection and processing of blood ensure that it is reliable and consistent, while its wide clinical acceptance is well established.
It is compatible with the most advanced technologies, including immunoassays and LC-MS/MS, by which drugs can be accurately quantified, meeting modern demands in therapeutic monitoring. Besides, this is supported by regulatory guidelines and clinical practices, which favor blood-based TDM; it has proved its merit in monitoring pharmacokinetics for the optimization of dose, which improves therapeutic outcomes, all combining to favor its adoption in a clinical setting.
US to grow at the highest CAGR for North America therapeutic drug monitoring market
The increasing prevalence in the US of chronic diseases of a cardiovascular nature, diabetes, neurological disorders, and cancer, among many others, significantly fuels this demand for TDM. Several of these disorders require thorough monitoring for the optimization of their treatment efficacy by taking measures to reduce adverse events, hence increasing the pace of adoption of TDM technologies.
The well-established and well-developed healthcare framework of the country involves large numbers of hospitals, laboratories, and diagnostic centers, which further fortifies the integration of advanced end. Besides, continuous innovation in TDM technologies, supported by the presence of numerous pharmaceutical and biotech companies, ensures availability and advances in monitoring tools. These are all factors combined to spur the rapid growth of the TDM market in the US.
The report provides insights on the following pointers:
- Analysis of key drivers (Importance of therapeutic drug monitoring in organ transplant procedures, Use of therapeutic drug monitoring across various therapeutic fields, Increasing preferences for precision medicine, Growing focus on R&D related to therapeutic drug monitoring, Increasing incidence of chronic and infectious diseases and growing awareness about early disease diagnosis, Increase in prevalence of Epilepsy, Rising prevalence of cancer to drive adoption of Therapeutic Drug Monitoring in Oncology Treatments), restraints (High capital investments, Reluctance of small hospitals to offer therapeutic drug monitoring services), opportunities (Significant opportunities in BRICS countries, Innovations in immunoassay technologies to improve accuracy and speed of drug monitoring, Integration of AI and machine learning), and challenges (Alternatives to conventional therapeutic drug monitoring, Operational challenges and inadequate infrastructure to restrict TDM testing in low- and middle-income countries, Shortage of skilled professionals) influencing the growth of the therapeutic drug monitoring market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the therapeutic drug monitoring market
- Market Development: Comprehensive information about lucrative markets – the report analyses the therapeutic drug monitoring market across varied regions.
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the therapeutic drug monitoring market
- Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 381 |
| Forecast Period | 2024 – 2029 |
| Estimated Market Value (USD) in 2024 | $2.3 Billion |
| Forecasted Market Value (USD) by 2029 | $3.44 Billion |
| Compound Annual Growth Rate | 8.4% |
| Regions Covered | Global |
Therapeutic Drug MonitoringCompanies Featured
- Abbott
- Thermo Fisher Scientific Inc.
- F. Hoffmann-La Roche Ltd.
- Siemens Healthineers AG
- Danaher Corporation
- Bio-Rad Laboratories, Inc.
- Biomerieux SA
- Biosynex SA
- Grifols, SA
- Exagen Inc.
- Ark Diagnostics, Inc.
- R-Biopharm AG
- Randox Laboratories Ltd.
- Apdia Group
- Bbi Solutions
- Eagle Biosciences, Inc.
- Jasem Laboratory Systems and Solutions
- Aalto Scientific, Ltd.
- Immundiagnostik AG
- Utak
- Sekisui Medical Co. Ltd.
- Diasystem Scandinavia Ab
- Cambridge Life Sciences Limited
- Chromsystems Instruments & Chemicals GmbH
- Buhlmann Laboratories AG
- Sjk Global, LLC
- Epitope Diagnostics, Inc.
- Qed Bioscience Inc.
- Boditech Med Inc.
- Immunodiagnostic Systems
For more information about this report visit https://www.researchandmarkets.com/r/hsj3du
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- Therapeutic Drug Monitoring Market
