The therapeutic drug monitoring market studied was anticipated to grow with a CAGR of nearly 7.5% during the forecast period. The major factor attributing to the growth of the market is an increased volume of patients diagnosed with neurological conditions, autoimmune and cardiovascular diseases associated with narrow therapeutic window medications necessitating the efficient drug monitoring technologies. For instance, according to the National Institutes of Health report published in the year 2020, the prevalence of myasthenia gravis is increasing in recent decades and affects about 20 per 100,000 people worldwide every year demanding the enhanced drug development process fueling the market over the forecast period.
Key Market Trends
The Antiepileptic Drugs by Drug Class Segment is Expected to Hold the Largest Market Share in the Therapeutic Drug monitoring Market
- The antiepileptic drugs segment is expected to account for the largest revenue over the forecast period. This dominance is owing to factors such as the higher prevalence of epilepsy in recent years resulting in global health burden due to the adverse effects of high concentrations in the blood necessitating the TDM of these medications.
- On the other hand, the Antiarrhythmic Drugs segment is anticipated to witness the highest growth rate during the forecast period due to increased adoption of TDM instruments and diagnostic tools to monitor drug levels in the treatment of various cardiac dysrhythmia disorders such as atrial fibrillation, atrial flutter, ventricular tachycardia, and ventricular fibrillation, etc, are likely to drive the segment over the forecast period.
- Based on the technology, the immunoassay segment is expected to account for the largest share of the market due to the increasing incidence of chronic autoimmune disorders fueling the segment. Also, the technological innovations in the segment resulted in the availability of various immunoassays techniques such as Radioimmunoassay, Chemiluminescent assay, Enzyme-linked immunosorbent assay (ELISA) and Fluorescence polarization Immunoassay specific to the various indications are likely to drive the segment.
- Based on the End-User, the major share of the market is covered by hospitals due to the presence of a huge number of hospitalized patients with cardiac, cancer, neurological disorders, and HIV. Also, the rapid increase in preference of patients towards the hospital-attached laboratories due to a rise in awareness and high affordability of equipment is expected to propel the hospital segment during the forecast period
North America Dominates the Market and Expected to do Same in the Forecast Period.
North America is expected to dominate the overall therapeutic drug monitoring market throughout the forecast period. The dominance is due to a rise in the global prevalence of various autoimmune disorders, a steep rise in the adoption of the TDM for assessing the dosage regimen in the development of treatment for various cardiac indications owing to the increased rate of cardiac deaths in recent years. For instance, according to the American Heart Association, in 2018, nearly 92.1 million individuals in the U.S. suffered from cardiovascular diseases resulted in a higher demand for TDM and this is driving the market in the region. Also, the increased availability of advanced technology and established healthcare infrastructures in the region is also likely to fuel the market over the forecast period.
The therapeutic drug monitoring market is moderately competitive and consists of several major players. Some of the companies are expanding their market position by adopting various strategies such as acquisitions and mergers, while others are developing new techniques for the treatment of various disease indications and introducing new products to maintain their market share. For Instance, In December 2018, Thermo Fisher Scientific received FDA approval for its QMS Plazomicin Immunoassay, the first of its kind for complementary diagnostic immunoassays used to measure the concentration of a novel therapeutic antibiotic, plazomicin used to treat patients with complicated urinary tract infections fueling the market growth. Few of the major players currently dominating the industry in terms of revenue are F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific, Bio-Rad Laboratories, Danaher Corporation (Beckman Coulter Inc), and Siemens AG.
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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1.2 Study Assumptions
1.3 Scope of the Study
4.2 Market Drivers
4.2.1 Increasing Prevalence of Cancers, HIV, Autoimmune and Cardiac Diseases
4.2.2 Growing R&D Activities and Clinical Trials to Increase the Application of Technologies in Various Indications
4.3 Market Restraints
4.3.1 The Reluctance of Healthcare Providers to Implement TDM Services in Emerging Nations
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1.2 Proteomic Technologies
5.2 Drug Class
5.2.1 Antiarrhythmic Drugs
5.2.3 Antiepileptic Drugs
5.3.2 Diagnostic Centres
5.4.1 North America
220.127.116.11 United states
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.4.4 Middle-East and Africa
184.108.40.206 South Africa
220.127.116.11 Rest of Middle-East and Africa
5.4.5 South America
18.104.22.168 Rest of South America
6.1.1 Abbott Laboratories
6.1.3 Beckman Coulter Inc
6.1.4 Bio-Rad Laboratories Inc
6.1.5 Chromsystems Instrume
6.1.6 F. Hoffmann-La Roche Ltd
6.1.7 Pharmaceutical Product Development LLC
6.1.8 Randox Laboratories Ltd
6.1.9 Siemens AG
6.1.10 Thermo Fisher Scientific
A selection of companies mentioned in this report includes:
- Abbott Laboratories
- Beckman Coulter Inc
- Bio-Rad Laboratories Inc
- Chromsystems Instrume
- F. Hoffmann-La Roche Ltd
- Pharmaceutical Product Development LLC
- Randox Laboratories Ltd
- Siemens AG
- Thermo Fisher Scientific