NEWARK, Del, Aug. 02, 2022 (GLOBE NEWSWIRE) -- The therapeutic drug monitoring market is anticipated to witness an opulent growth with a phenomenal CAGR of 9.7% during the forecast period, up from US$ 1.5 Billion in 2020 to reach a valuation of US$ 2.9 Billion by 2026.
Due to a reasonable surge in organ transplant surgeries, the sales of therapeutic drug monitoring are also rapidly increasing. Owing to the rising preference for precision medicine, the demand for therapeutic drug monitoring is accelerating.
Precision medicine picks treatments that are fully suitable to the patient’s ailment and medical history. Oncology has experienced the most development, although this technique extends into all disease areas.
Request Sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-953
Key Takeaways
- Increasing research and development in the industry is projected to have a major contribution to the growth of the therapeutic drug monitoring market share.
- The major trends promoting the therapeutic drug monitoring market include precision medicine. It is a field of disease treatment that is getting a lot of attention. This type of treatment considers individual differences in surroundings, genes, and lifestyles.
- Precision medicine treatment is gaining a lot of attention and is now being tried in various situations. It intends to transform pharmacotherapy in oncology and other disease areas. With the potential to make a significant contribution to the advancement of the healthcare industry, precision medicine treatment deploys a unique approach to patient care.
- Cancer patients are getting the treatment based on a combination of medicines which relies on studies of the patient's factors such as systems biology, tumor analysis, and gene expression data in the absence and presence of pharmacological disruption.
- The global therapeutic drug monitoring market showed significant growth over the last few years and is projected to grow at a robust CAGR during the forecast period.
- The sales of therapeutic drug monitoring are driven by several key factors including an ageing population with better health care services, increasing demand for genetic testing, increased government and private sector participation in therapeutic drug monitoring markets, rise in drug profiling.
- Therapeutic drug monitoring stems from clinical chemistry and clinical pharmacology. Its primary objective is to maintain the drug concentration levels in the body fluids within the particular therapeutic range. By individually adjusting the drug dosage therapeutic drug monitoring aims to refine patient care for better outcomes.
Ask an Analyst @ https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-953
Competitive Landscape
Roche Diagnostics, Coulter, BioRad, OraSure Technologies, and BioChem Pharmaceuticals are some of the key companies profiled in the full version of the report.
The report comprises key players contributing to the therapeutic drug monitoring market share. It also consists of organic and inorganic growth strategies adopted by market players to improve their market positions. This exclusive report analyses the competitive landscape and therapeutic drug monitoring market share acquired by players to strengthen their market position.
More Insights into the Therapeutic Drug Monitoring Market
On the basis of regions, the therapeutic drug monitoring market is segmented into seven key regions namely: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa.
The North American region is anticipated to dominate the therapeutic drug monitoring market by accounting for the maximum sales in the global market.
A reasonable surge can be witnessed in the sales of therapeutic drug monitoring, but a slight decline was seen in the annual growth rate. As per FMI reports, the demand for therapeutic drug monitoring is expected to surge as the market evolves in the future.
The numerous advantages showcased by therapeutic drug monitoring get appreciated in the established markets and as the techniques and products appear in the emerging market. Moreover, the emerging economies have also started showing a positive inclination as the demand for therapeutic drug monitoring increases.
Technological advancements and a significant rise in the disease population, all over the world are rising the demand for therapeutic drug monitoring as it is rapidly being accepted as a method of choice among patients.
In order to improve diagnostic offerings and increase the sales of therapeutic drug monitoring companies are increasing their research and implementing therapeutic drug monitoring strategies.
The sales of therapeutic drug monitoring are expected to touch the skies throughout the forecast period of 2022-2032 by making alterations to new and more stringent regulations and improvements in diagnostic technologies, automation, and system engineering.
Get Report Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-953
Key Market Segments:
By Product
- Equipment
- Consumables
By Technology
- Immunoassays
- Radioimmunoassays
- Colorimetric Immunoassays
- Other Immunoassays
- Chromatography-Mass spectrometry
By Drug Class
- Antiepileptic Drugs
- Antiarrhythmic Drugs
- Immunosuppressant Drugs
- Antibiotic Drugs
- Bronchodilator Drugs
- Psychoactive Drugs
- Other drug classes
By End Users
- Commercial/Private Labs
- Hospital Labs
- Other End Users
Buy Now/Purchase @ https://www.futuremarketinsights.com/checkout/953
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.3. Opportunity Map Analysis
4. Global Therapeutic Drug Monitoring Market Analysis 2017-2021 and Forecast, 2022-2032
4.1. Historical Market Size Value (US$ Mn) & Volume (No. of Tests) Analysis, 2017-2021
4.2. Current and Future Market Size Value (US$ Mn) & Volume (No. of Tests) Projections, 2022-2032
Click Here for Therapeutic Drug Monitoring Market 250 pages TOC Report
Have a Look at Related Research Reports of Healthcare:
Thiamine Market Size: Thiamine Market by Application & Region - Forecast 2022 – 2032
Sialendoscopes Market Share: Sialendoscopes Market by Type, End User & Region - Forecast 2022 – 2032
Tibial Neuromodulation Devices Market Trends : Tibial Neuromodulation Devices Market by Application, End-User & Region - Forecast 2022 - 2032
Veterinary Injectable Devices Market Forecast : Veterinary Injectable Devices Market By Product Type, Material Type, End User & Region - Forecast 2022-2032
Scoliosis Management Market Outlook : Scoliosis Management Market by Disease, Age, Product, Distribution Channels & region - Forecast 2022 – 2032
Intracranial Aneurysm Market Sales : Intracranial Aneurysm Market by Outlook, Application & Region - Forecast 2022 – 2032
Revision Knee Replacement Market Value : Revision Knee Replacement Market by Product Type, Fixation Type, End User & Region - Forecast 2022 - 2032
Knotless Tissue Control Devices Market Analysis: Knotless Tissue Control Devices Market by Product Type, End User & Region - Forecast 2022-2032
Reverse Transcriptase Enzymes Market Demand: Reverse Transcriptase Enzymes Market By Application, Product Type & Regional Forecast 2022-2032
Laryngoscopes Market Type : Laryngoscopes Market by Product, End User, Usability & Region - Forecast 2022 – 2030
About Us
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
Contact:
Future Market Insights Inc.
Christiana Corporate,
200 Continental Drive,
Suite 401, Newark,
Delaware - 19713, USA
T: +1-845-579-5705
Report: https://www.futuremarketinsights.com/reports/therapeutic-drug-monitoring-market
For Sales Enquiries: sales@futuremarketinsights.com
Browse all Reports: https://www.futuremarketinsights.com/reports
LinkedIn| Twitter| Blogs
