The global therapeutic drug monitoring market is expected to be valued at USD 1,203.9 million in 2024. The market’s progress is projected to be invigorating promisingly from 2024 to 2034, with a CAGR of 7.7%. By 2034, the market value is forecasted to hit USD 2,527.9 million.
Growing awareness among healthcare professionals and patients about the importance of optimizing drug therapy is driving growth. As healthcare becomes more patient-centered, there is a greater emphasis on personalized medicine and tailoring treatments to individual patients. TDM enables healthcare professionals to monitor drug levels in a patient’s bloodstream and adjust dosages accordingly, which can improve treatment outcomes and reduce the risk of adverse effects.
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Rising prevalence of chronic diseases is another key market driver. Chronic diseases such as diabetes, cardiovascular disease, and cancer require long-term treatment with multiple medications, making it important to monitor drug levels to ensure that they are within the therapeutic range. TDM can help healthcare professionals optimize drug therapy for patients with chronic diseases, leading to better outcomes and improved quality of life.
The global trend toward digitization in healthcare is also contributing to the growth of the TDM market. The development of electronic health records (EHRs) and other digital health technologies has made it easier for healthcare professionals to access and analyze patient data, including drug levels. This, in turn, has led to the development of new TDM technologies that can automate the measurement and analysis of drug levels, reducing the need for manual intervention and improving accuracy.
“Increasing availability of TDM services across the globe has also contributed to the growth of the market. Several companies and laboratories are offering TDM services, making it easier for healthcare professionals to access these services. Moreover, the increasing number of collaborations and partnerships between pharmaceutical companies and TDM service providers is expected to further boost market growth.” – Says an analyst at FMI.
Key Takeaways from the Therapeutic Drug Monitoring Market:
- The global therapeutic drug monitoring market is estimated to register a CAGR of 7.7% with a valuation of USD 2,527.9 million by 2034.
- The reagents segment is anticipated to dominate the market by holding a market share of 86.4% in 2024.
- Brazil’s market is estimated to develop at a CAGR of 5.3% over the forecast period.
- The market is estimated to progress at a CAGR of 8.6% in Germany over the forecast period.
- The United Kingdom’s market is predicted to surge at an 8.3% CAGR between 2024 and 2034.
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Competitive Landscape:
Therapeutic drug monitoring industry is expected to witness a significant increase in market share as stakeholders offer a diverse range of monitoring options, including chromatography and immunoassays. To stay competitive, manufacturers are investing heavily in research and development initiatives to improve their products.
Key players are partnering with educational institutions and pharmaceutical laboratories to enhance their offerings further. These efforts are expected to result in more sophisticated and effective therapeutic drug monitoring solutions for patients and healthcare providers.
Recent Development:
In 2021, Thermo Fisher Scientific and Mindray joined hands to develop clinical chemistry analyzers for drugs of abuse immunoassays. The new partnership is expected to improve the accuracy and speed of drug testing procedures, enabling healthcare professionals to detect drug presence in patient samples more efficiently. Thermo Fisher Scientific’s proficiency in developing top-notch immunoassay tests, together with Mindray’s expertise in clinical chemistry analyzers, has the potential to make a significant impact on drug testing capabilities and ultimately improve patient outcomes.
Key Companies Profiled:
Abbott Laboratories; bioMérieux SA; F. Hoffmann-La Roche AG; Siemens Healthineers; Thermo Fisher Scientific Inc.; Danaher Corporation; BÜHLMANN Laboratories AG; Sekisui Medical Co., Ltd.; Randox Laboratories Ltd.; Bio-Rad Laboratories, Inc.
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Key Segments:
By Products:
Based on product, the industry is bifurcated into reagents and consumables
By Drugs:
Drugs available for therapeutic drug monitoring are antiepileptics, antiarrhythmics, antibiotics, immunosuppressants, and others.
By Technology:
Regarding technology, the industry is classified into immunoassay, liquid chromatography-tandem mass spectrometry, and high-performance liquid chromatography (HPLC)-tandem mass spectrometry.
By End User:
Top end users operating in this industry are hospitals, diagnostics laboratories, academic & research institutes, and pharmaceutical companies
By Region:
The industry is analyzed in North America, Latin America, Europe, South Asia, East Asia, Oceania, as well as the Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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