The global therapeutic drug monitoring market is expected to reach over USD 3.37 billion by 2024, according to a new report by Grand View Research, Inc. Recent technological advancements in the Point-of-Care (PoC) devices hold considerable transformative promises for the personalized predictive and preventive medicine. Therapeutic Drug Monitoring (TDM) forms a foundational part to the devising of personalized treatment plans for patients; and the advent of PoC diagnostic devices that yield quantitative measurements of the drug concentration plays a pivotal role in supporting the development of the precision medicine field in the healthcare sector. However, the broad application of the PoC devices for patient monitoring is still lagging behind. The presence of this untapped opportunity is one of the high impact rendering drivers for the market growth.
The
employment of continuous therapeutic drug and metabolite monitoring in the
early phase of the medication regimen, administered post-organ transplantation,
forms a major application in the areas of critical care medicine and organ
transplantation, which is expected to propel the growth of the therapeutic drug
monitoring market over the forecast period. In addition, the imposing burden of
diseases, such as epilepsy and cancer, the rising government initiatives, and
the presence of high-unmet needs are some of the crucial determinants expected
to further favor the emergence of this market.
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Further key
findings from the study suggest:
- The consumables segment
covered over 65% of the market share in 2015 as a consequence of the
extensive requirement of the consumables in the research laboratories and
due to the repeat purchase of the kits and reagents.
- The immunoassay segment held
the largest market share in 2015. The presence of several commercially
available immunoassays combined with their associated benefits including
the cost effectiveness and easy-to-handle nature of the products are the
key drivers for the growth of this segment.
- The proteomics category is
expected to be the fastest growing technology segment due to the advent of
various proteomic technologies, such as isotope-coded affinity tags, next
generation sequencing, and protein microarray platforms that enable rapid
mining of the proteome.
- The hospital is the largest
end-use segment with a share of over 60% in 2015. In larger hospitals,
various underlying technologies are employed to perform immunoassays;
these comprise chemiluminescence, nephelometry, colorimetry, and
fluorescence, which are available for the testing of a wide ranging drug
panel.
- The drug monitoring for the
immunosuppressants is one of the fastest growing application segments
owing to the introduction of novel TDM point-of-care testing devices for
the evaluation of the concentration of administered immunosuppressants and
the complementary metabolites, in order to achieve a prominent therapeutic
effect while preventing drug toxicity events in patients that have
undergone transplantations.
- In 2015, North America was
the highest revenue generating region with revenue generated over USD 900 million.
The rising number of R&D activities coupled with the high awareness
about personalized therapy is the major determining factor for the large
share captured by the North America region.
- Few of the leading market
players are Roche Diagnostics, Siemens Healthcare GmbH, Thermo Fisher
Scientific, Inc., Bio-Rad Laboratories, Inc., Beckman Coulter, Inc.,
Abbott Laboratories, Inc., Agilent Technologies, Inc., bioMérieux, Inc.,
and Alere, Inc. The persistent R&D efforts are being undertaken along
with numerous other strategic endeavors being adopted by the market
players with the objective of enhancing the present drug monitoring
practices and to develop novel technologies.
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Grand View Research has segmented
the therapeutic drug monitoring market on the basis of product,
technology, application, end-use, and region:
Therapeutic Drug
Monitoring Market, Product Outlook, by Revenue (USD Million, 2013 - 2024)
- Consumables
- Equipment
- Others
Therapeutic Drug
Monitoring Market, Technology Outlook, by Revenue (USD Million, 2013 - 2024)
- Immunoassays
- Proteomic technologies
- Others
Therapeutic Drug
Monitoring Market Drug, Class Outlook, by Revenue (USD Million, 2013 - 2024)
- Anti-epileptics
- Antibiotics
- Immunosuppressants
- Psychoactive drugs
- Antiarrhythmic drugs
- Others
Therapeutic Drug
Monitoring Market, End-use Outlook, by Revenue (USD Million, 2013 - 2024)
- Hospital labs
- Private labs
- Others
Therapeutic Drug
Monitoring Market, Regional Outlook, by Revenue (USD Million, 2013 - 2024)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- Asia Pacific
- Japan
- China
- Latin America
- Brazil
- MEA
- South Africa
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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