Therapeutic Drug Monitoring Market worth $2.0 billion by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, Sept. 7, 2020 /PRNewswire/ -- According to the new market research report "Therapeutic Drug Monitoring Market by Product (Equipment (Immunoassay Analyzers), Consumables), Technology (Immunoassays, Chromatography-MS), Class of Drugs (Antibiotic Drugs, Bronchodilator Drugs), End User - Global Forecast to 2025", published by MarketsandMarkets™, the Therapeutic Drug Monitoring Market is projected to reach USD 2.0 billion by 2025 from USD 1.4 billion in 2020, at a CAGR of 6.9% from 2020 to 2025.
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The TDM Market growth is largely driven by factors such as 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. Increasing adoption in the treatment of autoimmune diseases is expected to provide a wide range of growth opportunities for players in the market.
Consumables is expected to hold the largest share of the therapeutic drug monitoring market in 2020
On the basis of product, the market is segmented into equipment and consumables. In 2019, consumables segment accounted for the largest market share, primarily due to the repeat purchases of kits and reagents and the increasing number of immunoassay tests being performed across the globe.
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Immunoassays is expected to hold the largest share of the market in 2020
Based on technology, the TDM Market is segmented into immunoassays and chromatography-MS. In 2019, immunoassays segment accounted for the largest market share, due to the increasing incidence of chronic and infectious diseases and technological innovation.
Antiepileptic drugs is expected to hold the largest share of the therapeutic drug monitoring market in 2020
On the basis of class of drug, the market is segmented into antiepileptic drugs, antibiotic drugs, immunosuppressant drugs, antiarrhythmic drugs, bronchodilator drugs, psychoactive agents, and other drugs. During 2019, antiepileptic drugs held the largest share among the class of drug due to the high complexity and heterogeneity of epilepsy, lack of biological markers or specific clinical signs aside from the frequency of seizures to assess treatment efficacy or toxicity, and the highly complex pharmacokinetics of these drugs.
Hospital laboratories segment commanded the largest share of the TDM Market in 2019
By end user, the market is segmented into hospital laboratories, commercial & private laboratories, and other end users. Hospital laboratories accounted for the largest share of the market in 2019. The large share of this segment can be attributed to factors such as the availability of advanced healthcare facilities in hospitals and the rising incidences of chronic diseases.
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North America commanded the largest share of the therapeutic drug monitoring market in 2019.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2019, North America commanded the largest share of the market. Increasing per capita healthcare expenditure and the presence of technologically advanced healthcare infrastructure in the region, coupled with initiatives taken by different government associations, are anticipated to boost the market growth in the region.
The major players operating in this therapeutic drug monitoring market are Abbott Laboratories (U.S.), F. Hoffmann-La Roche (Switzerland), Siemens Healthineers (Germany), Thermo Fisher Scientific (U.S.), Danaher Corporation (U.S.), Bio-Rad Laboratories (U.S.), bioMérieux (France), BÜHLMANN Laboratories (Switzerland), SEKISUI MEDICAL (Japan), Randox Laboratories (Ireland), DiaSystem Scandinavia AB (Sweden), Cambridge Life Sciences Limited (United Kingdom), ARK Diagnostics, Inc. (U.S.), Chromsystems Instruments & Chemicals GmbH (Germany), Grifols (Spain), Exagen Inc. (U.S.), Theradiag (France), R-Biopharm AG (Germany), apDia Group (Belgium), BioTeZ Berlin-Buch GmbH (Belgium), Eagle Biosciences Inc. (U.S.), JASEM Laboratory Systems and Solutions A.S (Turkey), Aalto Scientific (U.S.), Immundiagnostik AG (Germany), and UTAK (U.S.).
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