According to the current analysis of Reports and Data, the global Therapeutic Drug Monitoring market was valued at USD 1,453.7 Million in 2020 and is expected to reach USD 2,429.1 Million by year 2028, at a CAGR of 5.8 %. The study covers Therapeutic drug monitoring - a branch of clinical pharmacology and chemistry, which measures and maintains specific ingredient concentration levels in body fluids or blood streams. The monitoring process is aimed at refining patient care for better outcomes by adjusting the medicine dosage.
Therapeutic Drug Monitoring is available for monitoring wide range of diseases and conditions. Recent emergence of this monitoring technique is proving to be a major disruptive finding in therapeutics sector. In line with this, the market leaders and players are adopting various strategies to provide better solutions in disease monitoring. For instance, In May 2019, Roche, a leader in advanced lab testing partnered with GE Healthcare, an American multinational conglomerate, launched NAVIFY Tumor Board with medical imaging capabilities to enable more personalized treatment decisions in cancer care. The NAVIFY Tumor Board is specifically designed for optimal diagnostics and treatment plan for cancer patients.
Rising number of organ transplantation incidences all over the globe, unmet needs of monitoring the patients, increased focus of pharmaceutical companies on development of novel mechanisms for medicine monitoring, upcoming patent expiry, increased public as well private funds for research, and favorable regulatory scenario all over the globe, are some of the key factors propelling market growth in the industry. However, associated reimbursement issues, and dearth of finances for clinical interpretation of the therapeutic drug monitoring results, are the major hindrances for market growth during 2019-2026.
Get a sample copy of the Therapeutic Drug Monitoring Market report, visit @ https://www.reportsanddata.com/download-free-sample/2274
Further key findings from the report suggest
- Therapeutic Drug Monitoring market is growing at a CAGR of 9% in Asia Pacific followed by North America and Europe respectively. High number of organ transplantation incidences across the globe is the prominent factor to accelerate the market growth during forecast period across all regions
- As of 2018, Equipment product type sub-segment dominates the sector. North American regional market is the chief revenue generating source for this product segment, followed by Europe and Asia-Pacific regions. The Therapeutic Drug Monitoring industry is augmented by demand for low cost equipment from many South East Asian countries
- The Consumables product type segment is expected to witness significant growth during forecast period 2019-2026 with a CAGR of 5.7%. However, associated reimbursement issues is major challenge for the market growth of this sector
- Hospital Laboratories end-use sector is estimated to witness the highest CAGR within its respective segment
- Asia Pacific is anticipated to account for the 19.6% of the global Therapeutic Drug Monitoring market, where developing nations such China and India are likely to witness significant growth
- Dearth of required finances to clinically interpret the drug monitoring results is likely to be major restraint to the Therapeutic drug monitoring market growth during the forecast period
- Key participants in the Therapeutic Drug Monitoring industry include Abbott, F. Hoffmann-La Roche, Bio-Rad Laboratories Inc., Beckman Coulter, Inc., Roche Diagnostics, Siemens Healthineers, Thermo Fisher Scientific, Danaher Corporation, Alpco, Randox Laboratories Ltd., and others.
To know more about the latest insights of the report, visit @
https://www.reportsanddata.com/request-latest-insight/2274
For the purpose of this report, Reports and Data has segmented the Therapeutic Drug Monitoring market on the basis of Product type, Technology type, drug type, end use, and region:
Product Type (Revenue, USD Million; 2018–2028)
- Consumables
- Equipment
Technology Type (Revenue, USD Million; 2018–2028)
- Immunoassays
- Colorimetric Immunoassays
- Radioimmunoassays
- Other Immunoassays
- Chromatography-MS
Class of Drug Type (Revenue, USD Million; 2018–2028)
- Antiepileptic Drugs
- Antiarrhythmic Drugs
- Immunosuppressant Drugs
- Antibiotic Drugs
- Bronchodilator Drugs
- Psychoactive Drugs
- Other Drug Classes
End Use (Revenue, USD Million; 2018–2028)
- Hospital Laboratories
- Commercial/Private Laboratories
- Other End Users
Regional Outlook (Revenue in USD Million; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- Middle East Africa (MEA)
- South Africa
- Saudi Arabia
- Rest of Middle East Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Request a customized copy of the report @
https://www.reportsanddata.com/request-customization-form/2274
Thank you for reading our report. To inquire about customization or any query about the report, please get in touch with us. Our team will make sure the report is best suited to your needs.
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact:
John W, Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
LinkedIn | Twitter | Blogs
