The global therapeutic drug monitoring market was valued at $1,932.93 million in 2021 and is projected to reach $4,415.3 million by 2031, registering a CAGR of 8.5% from 2022 to 2031. Therapeutic drug monitoring (TDM) is a clinical practice in which the concentration of a specific drug in a patient's blood is measured to optimize dosage regimens, and treatment, and minimize toxicity. Therapeutic drug monitoring is used to account for individual variability in drug metabolism, minimize the risk of toxicity, identify and manage drug interactions, and improve the safety and efficacy of drug treatment. It is a valuable tool in the management of drug treatment, offering numerous advantages in terms of safety, efficacy, and personalized care. Therapeutic drug concentration is monitored through immunoassays, calorimetric immunoassays, and chromatography-mass spectrometry.
The therapeutic drug monitoring market growth is driven by the growing prevalence of chronic diseases, an increase in awareness about therapeutic drug monitoring, and a rise in demand for therapeutic drug monitoring services in emerging markets. The rise in the prevalence of chronic diseases such as cardiovascular diseases, cancer, and neurodegenerative diseases, which require long-term treatment with drugs that have a narrow therapeutic window, is driving the demand for therapeutic drug monitoring services. For instance, according to International Diabetes Federation, in 2021, it was estimated that about 537 million adults (20-79 years) are living with diabetes in the world and is expected to reach 643 million by 2030. Thus, an increase in the prevalence of chronic diseases and the need for long-term treatment is expected to boost the demand for therapeutic drug monitoring services, which, in turn, contribute toward market growth. Furthermore, the increasing demand for advanced and innovative consumables such as immunoassays is the key factor contributing to the growth of the market. For instance, Eagle Biosciences offers various therapeutic drug monitoring assays such as Alemtuzumab ELISA Assay which is used for the quantitative determination of Alemtuzumab (Lemrada) drug in in the patient’s blood. However, a lack of skilled professionals present in the market, and technical errors in sample collection can limit the adoption of therapeutic drug monitoring products, which, in turn, hinders the growth of the market in upcoming years. On the other hand, increased focus on R&D activities for therapeutic drug monitoring and growth potential in emerging markets are expected to create immense opportunities for therapeutic drug monitoring during the forecast period.
The therapeutic drug monitoring market is segmented on the basis of product, technology, drug class, end user and region. As per product, the market is classified into consumables and equipment. On the basis of technology, the market is segmented into immunoassay, chromatography-spectrometry, and others. According to the drug class, the market is divided into anti-epileptic drugs, antibiotics drugs, anti-arrhythmic drugs, immunosuppressants, and others.
Depending on end-user, the market is classified into hospitals, diagnostic lab, and research and academic institutes. Region wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and the Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and Rest of LAMEA). Major key players that operate in the global therapeutic drug monitoring market are Abbott Laboratories, Biomerieux SA, Bio-Rad Laboratories, Inc., Chromsystems Instruments & Chemicals GmbH, Danaher Corporation, Exagen Inc, F. Hoffmann-La Roche Ltd., Sekisui Chemical Co Ltd., Siemens AG, and Thermo Fisher Scientific Inc.
The therapeutic drug monitoring market growth is driven by the growing prevalence of chronic diseases, an increase in awareness about therapeutic drug monitoring, and a rise in demand for therapeutic drug monitoring services in emerging markets. The rise in the prevalence of chronic diseases such as cardiovascular diseases, cancer, and neurodegenerative diseases, which require long-term treatment with drugs that have a narrow therapeutic window, is driving the demand for therapeutic drug monitoring services. For instance, according to International Diabetes Federation, in 2021, it was estimated that about 537 million adults (20-79 years) are living with diabetes in the world and is expected to reach 643 million by 2030. Thus, an increase in the prevalence of chronic diseases and the need for long-term treatment is expected to boost the demand for therapeutic drug monitoring services, which, in turn, contribute toward market growth. Furthermore, the increasing demand for advanced and innovative consumables such as immunoassays is the key factor contributing to the growth of the market. For instance, Eagle Biosciences offers various therapeutic drug monitoring assays such as Alemtuzumab ELISA Assay which is used for the quantitative determination of Alemtuzumab (Lemrada) drug in in the patient’s blood. However, a lack of skilled professionals present in the market, and technical errors in sample collection can limit the adoption of therapeutic drug monitoring products, which, in turn, hinders the growth of the market in upcoming years. On the other hand, increased focus on R&D activities for therapeutic drug monitoring and growth potential in emerging markets are expected to create immense opportunities for therapeutic drug monitoring during the forecast period.
The therapeutic drug monitoring market is segmented on the basis of product, technology, drug class, end user and region. As per product, the market is classified into consumables and equipment. On the basis of technology, the market is segmented into immunoassay, chromatography-spectrometry, and others. According to the drug class, the market is divided into anti-epileptic drugs, antibiotics drugs, anti-arrhythmic drugs, immunosuppressants, and others.
Depending on end-user, the market is classified into hospitals, diagnostic lab, and research and academic institutes. Region wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and the Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and Rest of LAMEA). Major key players that operate in the global therapeutic drug monitoring market are Abbott Laboratories, Biomerieux SA, Bio-Rad Laboratories, Inc., Chromsystems Instruments & Chemicals GmbH, Danaher Corporation, Exagen Inc, F. Hoffmann-La Roche Ltd., Sekisui Chemical Co Ltd., Siemens AG, and Thermo Fisher Scientific Inc.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the therapeutic drug monitoring market analysis from 2021 to 2031 to identify the prevailing therapeutic drug monitoring market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the therapeutic drug monitoring market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global therapeutic drug monitoring market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Technology
- Immunoassays
- Chromatography-Spectrometry
- Others
By Product
- Consumables
- Equipment
By Drug Class
- Antiepileptic Drugs
- Antiarrhythmic Drugs
- Immunosuppressant Drugs
- Antibiotic Drugs
- Others
By End Users
- Hospital
- Diagnostic labs
- Research and Academic Institutes
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- F. Hoffmann-La Roche Ltd.
- Abbott Laboratories
- Biomerieux SA
- Thermo Fisher Scientific Inc.
- Siemens AG
- Chromsystems Instruments & Chemicals GmbH
- Bio-Rad Laboratories, Inc.
- Danaher Corporation
- SEKISUI CHEMICAL CO., LTD.
- Exagen Inc.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: THERAPEUTIC DRUG MONITORING MARKET, BY PRODUCT
CHAPTER 5: THERAPEUTIC DRUG MONITORING MARKET, BY TECHNOLOGY
CHAPTER 6: THERAPEUTIC DRUG MONITORING MARKET, BY DRUG CLASS
CHAPTER 7: THERAPEUTIC DRUG MONITORING MARKET, BY END USERS
CHAPTER 8: THERAPEUTIC DRUG MONITORING MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report titled, “Therapeutic Drug Monitoring Market," the therapeutic drug monitoring market was valued at $1,932.93 million in 2021 and is projected to reach $4,415.3 million by 2031, registering a CAGR of 8.5% from 2022 to 2031. Therapeutic drug monitoring (TDM) is the clinical monitoring of a drug's concentration in a patient's blood to optimize its therapeutic effect and minimize the risk of toxicity. It is used for drugs with a narrow therapeutic window and for drugs that may exhibit wide inter-patient variability in pharmacokineticsThe main objective of therapeutic drug monitoring is to maintain the concentration of drugs within a therapeutic range, which helps to improve patient outcomes, reduce adverse effects, and minimize healthcare costs. In this procedure, a sample of the patient’s blood is analyzed to monitor the concentration of the drug.The growth of the therapeutic drug monitoring market is driven by the growing prevalence of chronic diseases, increased awareness about therapeutic drug monitoring, and a rise in demand for therapeutic drug monitoring services in an emerging market. The rise in the prevalence of chronic diseases such as autoimmune disease, cardiovascular disease, and neurological disorders, among others across the world is the major factor that drives the growth of the market. As therapeutic drug monitoring (TDM) is an important tool that is used to measure the levels of drugs in a patient's blood to ensure appropriate therapeutic interventions and to reduce the risk of drug-related side effects. Furthermore, it helps doctors to adjust the medication dosages to ensure optimal treatment for individuals. It can also help doctors to detect the adverse reactions of medications and minimize the risk of drug interactions. For instance, according to World Health Organization (WHO) in 2022, it was estimated that around 50 million people worldwide are living with epilepsy and making it one of the most common neurological diseases globally. Furthermore, in high-income countries, it was estimated that about 49 per 100,000 patients are diagnosed with epilepsy each year. In low- and middle-income countries, this figure can be as high as 139 per 100,000. Furthermore, the rise in geriatric population across the world is the major factor that boosts the growth of the market as people in the geriatric population are more likely to have chronic conditions and require more frequent monitoring and adjustments to their medications. Thus, the increase in the prevalence of chronic diseases along with the rise in the geriatric population drives the growth of the market.
The market also offers growth opportunities to the key players in the market. The rise in advancements in therapeutic drug monitoring is the major factor expected to drive the growth of the market in the upcoming years. Technological advancements have enabled the development of automated therapeutic drug monitoring systems that can provide accurate and reliable results in a timely manner. For instance, automated systems can reduce the time and cost associated with manual testing and can be used to monitor patients in real-time. Furthermore, the development of advanced technologies such as automated liquid chromatography-tandem mass spectrometry (LC-MS/MS) technology and automated clinical analyzers have enabled the rapid and reliable measurement of drug levels. These technologies have also enabled the development of sophisticated therapeutic drug monitoring algorithms that can accurately detect and measure drug levels, which can help clinicians to identify potential adverse effects and adjust treatment plans accordingly. Thus, these advances are facilitating the adoption of therapeutic drug monitoring across the world which further drives the growth of the market.
The therapeutic drug monitoring market is segmented on the basis of product, technology, drug class, end user, and region. As per product, the market is classified into consumables and equipment. On the basis of technology, the market is segmented into immunoassay, chromatography-spectrometry, and others. According to the drug class, the market is divided into anti-epileptic drugs, antibiotics drugs, anti-arrhythmic drugs, immunosuppressants, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the study include Abbott Laboratories, Biomerieux SA, Bio-Rad Laboratories, Inc., Chromsystems Instruments & Chemicals GmbH, Danaher Corporation, Exagen Inc, F. Hoffmann-La Roche Ltd., Sekisui Chemical Co Ltd., Siemens AG, and Thermo Fisher Scientific Inc.
Key Market Insights
- By product, the consumable segment is expected to experience rapid growth in the market and is estimated to reach $2,820.08 million by 2031, with a CAGR of 9.1%. However, the equipment segment is estimated to be growing with a significant CAGR of 7.8% during the forecast period.
- By technology, the immunoassay segment dominated the global market. However, the chromatography-spectroscopy segment is expected to grow with a significant CAGR of 8.7% during the forecast period.
- By end user, the hospitals segment dominated the global market. However, the diagnostic segment is expected to grow with a significant CAGR of 8.6% during the forecast period
- Based on region, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR of 9.5% during the forecast period
Companies Mentioned
- F. Hoffmann-La Roche Ltd.
- Abbott Laboratories
- Biomerieux SA
- Thermo Fisher Scientific Inc.
- Siemens AG
- Chromsystems Instruments & Chemicals GmbH
- Bio-Rad Laboratories, Inc.
- Danaher Corporation
- SEKISUI CHEMICAL CO., LTD.
- Exagen Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 292 |
| Published | February 2023 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 1932.93 million |
| Forecasted Market Value ( USD | $ 4415.3 million |
| Compound Annual Growth Rate | 8.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
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