Dublin, March 02, 2022 (GLOBE NEWSWIRE) -- The "Global Therapeutic Drug Monitoring Market by Product (Consumables, Equipment-Immunoassay Analyzers, Chromatography & MS Detectors, Clinical Chemistry Analyzers), Technology, Class of drugs, End user and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global therapeutic drug monitoring market is projected to reach USD 2.7 billion by 2026 from USD 1.6 billion in 2020, at a CAGR of 9.4%
The growth of this market is majorly driven by the rising number of organ transplant procedures, the use of TDM across various therapeutic fields, the increasing preference for precision medicine, a growing focus on R&D related to TDM, and technological advancements in immunoassay instruments.
However, the need for high capital investments and the reluctance of small hospitals to offer TDM services may restrain the growth of this market.
Consumables in the product segment to witness the highest growth during the forecast period
The Consumables segment is projected to grow at the highest CAGR during the forecast period. The major factors contributing to the growth of this market are the requirement of repeat purchase of kits and reagents, coupled with the increasing number of immunoassay tests being performed across the globe.
Asia Pacific is estimated to register the highest CAGR during the forecast period
The market in Asia Pacific is projected to register the highest growth rate during the forecast period. The growth in this market is primarily driven by the rising geriatric population (especially in Japan and China), universal government healthcare coverage in Japan (for transplantation & related diagnostic procedures), government efforts to increase awareness about early disease detection and health check-ups, rising government expenditure in China and India to modernize and expand healthcare infrastructure, and the increasing prevalence of chronic diseases
The prominent players operating in the therapeutic drug monitoring market include F. Hoffmann-La Roche Ltd (Switzerland), Abbott (US), Danaher Corporation (US), Thermo Fisher Scientific Inc (US), and Siemens Healthineers AG (Germany).
Premium Insights
- Rising Preference for Precision Medicine to Drive the Tdm Market
- Consumable Products to Account for the Largest Market Share in 2021
- Antiepileptic Drugs Will Dominate the Asia-Pacific Market in 2021-2026
- China to Register the Highest CAGR Over the Forecast Period
Market Dynamics
Drivers
- Importance of TDM in Organ Transplant Procedures
- Use of TDM Across Various Therapeutic Fields
- Increasing Preference for Precision Medicine
- Growing Focus on R&D Related to TDM
- Technological Advancements
Restraints
- Requirement of High Capital Investments
- Reluctance of Small Hospitals to Offer TDM Services
Opportunities
- Increasing Adoption in the Treatment of Autoimmune Diseases
Challenges
- Alternatives to Conventional TDM
- Operational Barriers Faced in Conducting TDM Tests
COVID-19 Impact on the Therapeutic Drug Monitoring Market
Porter's Five Forces Analysis
Regulatory Landscape
Patent Analysis
Pricing Analysis
Trade Analysis
Ecosystem Analysis
Trends/Disruptions Impacting Customers' Businesses
- Revenue Shift and Revenue Pockets for Therapeutic Drug Monitoring Market
- Revenue Shift for Therapeutic Drug Monitoring
Company Profiles
- Abbott (US)
- Thermo Fisher Scientific (US)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Siemens Healthineers AG (Germany)
- Danaher Corporation (US)
- Bio-Rad Laboratories (US)
- bioMerieux SA (France)
- Theradiag SA (France)
- Grifols S.A. (Spain)
- Exagen Inc. (US)
- R-Biopharm AG (Germany)
- ApDia Group (Belgium)
- UTAK (US)
- Randox Laboratories Ltd. (Ireland)
- ARK Diagnostics, Inc. (US)
- BioTeZ Berlin-Buch GmbH (Germany)
- Eagle Biosciences, Inc. (US)
- Jasem Laboratory Systems and Solutions (Turkey)
- Aalto Scientific, Ltd. (US)
- Immundiagnostik AG (Germany)
- Sekisui Medical Co. Ltd. (Japan)
- DiaSystem Scandinavia AB (Sweden)
- Cambridge Life Sciences Limited (UK)
- Chromsystems Instruments & Chemicals GmbH (Germany)
- BUHLMANN Laboratories (Switzerland)
For more information about this report visit https://www.researchandmarkets.com/r/7f8tc1
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