The global Therapeutic Drug Monitoring Market is expected to grow at a compound annual growth rate (CAGR) of 10% during the forecast period 2023-2032, according to a new market research report published by The Brainy Insights. The report, titled “Therapeutic Drug Monitoring Market Size by Product Type (Equipment, Consumables and Others), Technology (Spectrometry, Electrophoresis, Chromatography, Proteomic Technology, Immunoassays and Others), Drug Class, End User, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032” analyzes the market trends, drivers, restraints, and opportunities in the global Therapeutic Drug Monitoring market.
Therapeutic drug monitoring (TDM) is a process of measuring the concentration of drugs in the bloodstream at specific intervals to optimize drug therapy, minimize drug toxicity, and ensure compliance with drug treatment. The market for TDM is expected to grow due to the increasing prevalence of chronic diseases, rising demand for personalized medicine, and the development of advanced TDM technologies.
According to the report, the increasing prevalence of chronic diseases, such as cancer, HIV, and autoimmune disorders, is a major driver of the global TDM market. The report estimates that the cancer segment will be the largest segment of the TDM market during the forecast period, due to the high prevalence of cancer and the increasing use of chemotherapy drugs.
The report also notes that the rising demand for personalized medicine is another key driver of the global TDM market. As the healthcare industry moves towards more personalized treatments, the demand for TDM is expected to increase, as TDM enables personalized dosing and drug monitoring. Additionally, the report highlights the development of advanced TDM technologies, such as mass spectrometry, liquid chromatography, and enzyme-linked immunosorbent assay (ELISA), which are expected to drive market growth.
However, the report also identifies some restraints and challenges that could hinder market growth, such as the lack of awareness about TDM in some regions, the high cost of TDM tests, and the shortage of skilled professionals to perform TDM tests.
The report provides a comprehensive analysis of the global Therapeutic Drug Monitoring market, including market size, growth rate, and revenue forecasts for the period 2023-2032, segmented by product type, technology type, drug class, disease type, end-user, and region.
Global Therapeutic Drug Monitoring Market by Product Type:
Global Therapeutic Drug Monitoring Market by End User:
- Research and Academic Institutes
- Diagnostic Labs
Some of the key players operating in the global Therapeutic Drug Monitoring market include Abbott Bayer AG Beckman Coulter Inc. bioMérieux SA Bio-Rad Laboratories Danaher Corporation Exagen Inc. F Hoffmann-La Roche Ltd. Siemens Healthineers AG Thermo Fisher Scientific