Therapeutic Drug Monitoring Market Expected to Reach $4,415.3 Billion by 2031
Therapeutic drug monitoring (TDM) is a branch of clinical pharmacology and a clinical tool used to improve the use of medications in patients by measuring the concentration of drugs in their blood. The 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... moreTherapeutic Drug Monitoring Market Expected to Reach $4,415.3 Billion by 2031
Therapeutic drug monitoring (TDM) is a branch of clinical pharmacology and a clinical tool used to improve the use of medications in patients by measuring the concentration of drugs in their blood. The 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 results are then compared to reference ranges, which are based on established data from clinical trials, and used to adjust the dose of the medication accordingly.
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Therapeutic Drug Monitoring Market Trends are a rise in the demand for patient-friendly and cost-effective diagnostic tests, a rise in organ transplant surgeries, and an increase in incidences of drug-drug interactions which leads to rise in the need for therapeutic drug monitoring. Therapeutic drug monitoring is important in organ transplantation to monitor the levels of immunosuppressant drugs in a patient’s bloodstream, to individualize treatment, and improve patient outcomes. Increased use of therapeutic drug monitoring in organ transplantation to ensure the success and safety of the transplantation boosts market growth. Moreover, growing awareness of therapeutic drug monitoring and the rise in the prevalence of autoimmune diseases further drive the market growth during the forecast period. For instance, according to the article published by National Center for Biological Information (NCBI), in April 2021, the prevalence of pre-clinical autoimmunity in the adult population of India was 18%.
In addition, the increase in the use of personalized medicine has led to the increased need for therapeutic drug monitoring across the world which is the major factor driving the growth of the market. Furthermore, in recent years, an unprecedented increase has been witnessed in R&D activities for the development of advanced equipment that can accurately measure drug levels in the body which further drives the growth of the Therapeutic Drug Monitoring Market Forecast period.
The Therapeutic Drug Monitoring Market Analysis is done 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 the end-user, the market is classified into hospitals, diagnostic labs, 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).
On the basis of product, the Therapeutic Drug Monitoring Industry is classified into consumables and equipment. The consumables segment has the largest Therapeutic Drug Monitoring Market Share in 2021, owing to the rise in the use of consumables in hospitals and diagnostic labs to monitor the drug concentration in patients' blood levels who are suffering from chronic disease. This is one of the key factors which drives the growth of the Therapeutic Drug Monitoring Market Size in upcoming years.
On the basis of technology, the Therapeutic Drug Monitoring Industry is classified into immunoassay, chromatography-spectrometry, and others. The Immunoassay segment has the largest Therapeutic Drug Monitoring Market Share in 2021 and would continue to maintain the lead over the forecast period, owing to a rise in the adoption of immunoassays to individualize treatment and improve patient outcomes suffering from chronic diseases.
On the basis of drug class, the market is classified into anti-epileptic drugs, antibiotics drugs, anti-arrhythmic drugs, immunosuppressants, and others. anti-epileptic drugs lar segment holds a dominant position in 2021 and would continue to maintain the lead over the forecast period., owing to the rise in the geriatric population along with the increase in the prevalence of epilepsy across the world which drives the growth of the market.
Request Sample - Therapeutic Drug Monitoring Market by Product (Consumables, Equipment), by Technology (Immunoassays, Chromatography-Spectrometry, Others), by Drug Class (Antiepileptic Drugs, Antiarrhythmic Drugs, Immunosuppressant Drugs, Antibiotic Drugs, Others), by End Users (Hospital, Diagnostic labs, Research and Academic Institutes): Global Opportunity Analysis and Industry Forecast, 2021 - 2031
