The report "Therapeutic Drug Monitoring Market by Product (Equipments,Consumables), Technology (Immunoassays), Drug Class (Anti–Epileptic Drugs,Anti–Arrhythmic Drugs), Therapeutic Area (Oncology, Cardiology), Specimen (Blood), End user - Global Forecast to 2029", global Therapeutic Drug Monitoring market is expected to reach USD 3.44 billion by 2029 from USD 2.30 billion in 2024, at a CAGR of 8.4 % during 2022–2029.
Browse 437 market data Tables and 59 Figures spread through 380 Pages and in-depth TOC on "Therapeutic Drug Monitoring Market by Product (Equipments,Consumables), Technology (Immunoassays), Drug Class (Anti–Epileptic Drugs,Anti–Arrhythmic Drugs), Therapeutic Area (Oncology, Cardiology), Specimen (Blood), End user - Global Forecast to 2029"
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The major factors driving the market growth of the therapeutic drug monitoring market include, personalized medicine, which is gaining increased focus, depends on accurate drug concentration assessments. Precise therapeutic concentration ensures optimal therapeutic outcomes due to the necessary balance of efficacy with minimal adverse effects. The higher incidence of various chronic life-threatening conditions, such as cancer, cardiovascular disorders, and neurological diseases, increases the demand for TDM in order to ensure efficacy with minimal toxicity. Especially, technological advances in immunoassays and the techniques of chromatography-MS further enhance sensitivity, specificity, and throughput. These improvements in the accuracy and efficiency of drug monitoring encourage wider use of this modality in clinical settings.
The Consumables segment is projected to account the largest share of therapeutic drug monitoring market, by product, in 2023.
Based on product, therapeutic drug monitoring market is segmented into equipments and consumables. Consumables continue to be one of the fastest-growing segments in the TDM market, since reagents, kits, and calibrators are in operational demand on a routine basis during drug monitoring. The increasing adoption of technologically advanced immunoassay and chromatography techniques has spurred the need for highly specific and reliable consumables accustomed to these technologies. Consumables also find regular application in hospitals and diagnostic laboratories due to the steadily rising prevalence of chronic diseases and increasing awareness over the importance of TDM for personalized medicine. Also, the increasing number of TDM tests across the world, facilitated by the development of automation and infrastructure in labs, contributes to higher demand for these products.
The Immunoassays segment is projected to account the largest share of therapeutic drug monitoring market, by technology, in 2023.
Increased focuses on personalized medicine, necessitating precise assessment of optimum drug concentrations, significantly capture the growth in the market for TDM. Balance to optimum is maintained so that efficacy is ensured without side effects. An evident rise in chronic and life-threatening diseases such as cancer, cardiovascular disorders, and neurological diseases stirs demand for TDM, considering efficacy with minimum toxicity. The technological advancement in immunoassays and chromatography-MS techniques enhances sensitivity, specificity, and throughput, raising the bar for accuracy and efficiency in drug monitoring and hence encouraging wider adoptions in clinical settings.
North America is expected to hold the largest share of therapeutic drug monitoring market during the forecast period
This has been influenced by aging in the North American population, which increases the need for TDM-related health services since this age category is more susceptible to acquiring chronic diseases that require long-term drug management. The accuracy and speed of drug monitoring are being improved by advancements in immunoassay technology, such as chemiluminescence, fluorescence immunoassays, and ELISA. In addition, regulatory bodies such as the U.S. Additionally, FDA are putting increased focus on the monitoring of drugs for patient safety and the effectiveness of treatment. This acts as an accelerator of adoption of TDM solutions in different healthcare settings. In general, all these factors contribute to North America's market growth regarding TDM.
The report profiles key players such as Abbott (US), Thermo Fisher Scientific Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), Siemens Healthineers AG (Germany), Danaher Corporation (US), Bio-Rad Laboratories, Inc. (US), bioMérieux SA (France), and Biosynex SA (France)
