Therapeutic drug monitoring is a medical practice used to determine the concentration of a particular drug in the patient’s bloodstream at different time intervals. It is used to keep the drug at a constant volume in the bloodstream without any toxic effects. Therapeutic drug monitoring is not used for most drugs, but only for drugs that have a narrow therapeutic window. It is also used in drugs with marked pharmacokinetic variability.
NEWARK, Del, August 02, 2022 (GLOBE NEWSWIRE) — The therapeutic drug monitoring market It is anticipated to witness opulent growth with a phenomenal CAGR of 9.7% over the forecast period, rising above US$1.5 billion in 2020 to reach a US$2.9 billion valuation in 2026.
Due to a reasonable increase in organ transplant surgeries, therapeutic drug monitoring sales are also increasing rapidly. Due to the growing preference for precision medicine, the demand for therapeutic drug monitoring is accelerating.
Precision medicine chooses treatments that are totally appropriate to the ailment and medical history of the patient. Oncology is the one that has experienced the most development, although this technique extends to all areas of the disease.
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key takeaways
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Increasing research and development in the industry is anticipated to make a major contribution to the growth of the therapeutic drug monitoring market share.
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The main trends promoting the therapeutic drug monitoring market include precision medicine. It is a field of disease treatment that is receiving a lot of attention. This type of treatment considers individual differences in environment, genes, and lifestyles.
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Precision medicine treatment is gaining a lot of attention and is now being tested in various situations. It aims to transform pharmacotherapy in oncology and other areas of disease. With the potential to make a significant contribution to advancing the healthcare industry, precision medicine treatment implements a unique approach to patient care.
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Cancer patients receive treatment based on a combination of drugs that is based on studies of patient factors, such as systems biology, tumor analysis, and gene expression data in the absence and presence of pharmacological alteration.
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The global therapeutic drug monitoring market showed significant growth in recent years and is anticipated to grow at a strong CAGR during the forecast period.
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Therapeutic drug monitoring sales are driven by several key factors, including an aging population with better health care services, increased demand for genetic testing, increased government and private sector involvement in drug monitoring markets therapeutics, increased drug profiling.
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Therapeutic drug monitoring derives from clinical chemistry and clinical pharmacology. Its main objective is to maintain drug concentration levels in body fluids within the particular therapeutic range. Through individual adjustment of drug dosage, therapeutic drug monitoring aims to refine patient care for better outcomes.
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competitive landscape
Roche Diagnostics, Coulter, BioRad, OraSure Technologies and BioChem Pharmaceuticals are some of the key companies featured in the full version of the report.
The report comprises key players that contribute to the therapeutic drug monitoring market share. It also consists of organic and inorganic growth strategies adopted by market players to improve their positions in the market. This exclusive report analyzes the competitive landscape and therapeutic drug monitoring market share gained by players to strengthen their position in the market.
More information about the therapeutic drug monitoring market
Based on regions, the therapeutic drug monitoring market is segmented into seven key regions, namely: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa.
The North American region is anticipated to dominate the therapeutic drug monitoring market by accounting for peak sales in the global market.
A reasonable increase in therapeutic drug monitoring sales can be observed, but a slight decrease in the annual growth rate was observed. According to FMI reports, the demand for therapeutic drug monitoring is expected to increase as the market evolves in the future.
The many advantages shown by therapeutic drug monitoring are appreciated in established markets and as techniques and products appear in the emerging market. In addition, emerging economies have also started to show a positive tilt as the demand for therapeutic drug monitoring increases.
Technological advances and a significant increase in the disease population worldwide are increasing the demand for therapeutic drug monitoring as it is quickly accepted as a method of choice among patients.
In order to improve diagnostic offerings and increase therapeutic drug monitoring sales, companies are increasing their research and implementing therapeutic drug monitoring strategies.
Therapeutic drug monitoring sales are expected to skyrocket during the 2022-2032 forecast period as changes to new and stricter regulations and improvements in diagnostic technologies, automation and systems engineering are made.
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Key market segments:
by product
By Technology
By drug class
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antiepileptic drugs
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Antiarrhythmic drugs
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Immunosuppressive drugs
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antibiotic medications
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Bronchodilator drugs
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psychoactive drugs
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Other classes of drugs
By end users
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Commercial/private laboratories
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hospital laboratories
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Other end users
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Table of Contents
1. Executive Summary
1.1. World Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. market dynamics
3.2. Scenario Forecast
3.3. Analysis of the opportunity map
4. Global Therapeutic Drug Monitoring Market Analysis 2017-2021 and Forecast, 2022-2032
4.1. Historical value analysis of market size (US$ Mn) and volume (number of trials), 2017-2021
4.2. Current and future value of market size (US$ Mn) and volume projections (number of tests), 2022-2032
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