Therapeutic Drug Monitoring Market, 2023 by Product (Consumable, Equipment), Technology (Fluorescence Immunoassay, Radioimmunoassay, GCMS), Class of drugs (Antibiotics, Bronchodilators), End User - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Aug 29, 2018--The “Therapeutic Drug Monitoring Market by Product (Consumable, Equipment (Immunoassay analyzer)), Technology (Fluorescence Immunoassay, Radioimmunoassay, GCMS), Class of drugs (Antibiotics, Bronchodilators), End User - Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.
The therapeutic drug monitoring market is expected to reach USD 1.63 billion by 2023 from USD 1.23 billion in 2018, at a CAGR of 5.9% during the forecast period.
The growth of this market is majorly driven by the rising number of organ transplant procedures and the use of TDM in traditional anticancer therapies. However, the lack of financial provisions for the clinical interpretation of TDM results is expected to restrain the growth of this market during the forecast period.
On the basis of end user, the therapeutic drug monitoring market is divided into hospital laboratories, commercial/private laboratories, and other end users. In 2018, the hospital laboratories segment is expected to account for the largest share of the therapeutic drug monitoring market. The large share of this segment is attributed to the fact that most diagnostic tests are performed in hospitals or hospital-attached laboratories as they have the appropriate equipment as well as skilled staff to deliver clinically meaningful interpretations from TDM assays. Compared to reference laboratories, hospital laboratories are also more accessible and offer faster results.
On the basis of products, the TDM market is segmented into consumables and equipment. In 2018, the consumables segment is expected to account for a larger share of this market owing to the requirement of repeat purchase of kits and reagents, coupled with the increasing number of immunoassay tests being performed across the globe as a result of the rising incidence of chronic and infectious diseases.
On the basis of class of drugs, the TDM market is segmented into antiepileptic drugs, antibiotic drugs, immunosuppressant drugs, antiarrhythmic drugs, bronchodilator drugs, psychoactive agents, and other drugs. In 2018, the antiepileptic drugs segment is expected to account for the largest share of the market. Antiepileptics are the most commonly monitored class of drugs due to the high complexity and heterogeneity of epilepsy, lack of biological markers or specific clinical signs aside from the frequency of seizures to assess treatment efficacy or toxicity, and the highly complex pharmacokinetics of these drugs.
On the basis of technology, the therapeutic drug monitoring market is classified into immunoassays and chromatography-MS. The immunoassays segment is expected to account for the largest share of this market in 2018, mainly due to the increasing incidence of chronic and infectious diseases and technological innovation.
By region, North America is expected to account for the largest share of the TDM market in 2018, followed by Europe. The dominant share of the North American market is primarily due to its well-established pharmaceutical industry, favorable government funding, and high R&D investments in this region.
The key players operating in the TDM market are F. Hoffmann-La Roche (Switzerland), Siemens Healthineers (Germany), and Abbott (US).
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Therapeutic Drug Monitoring Market, By Product
7 Therapeutic Drug Monitoring Market, By Technology
8 Therapeutic Drug Monitoring Market, By Class of Drug
9 Therapeutic Drug Monitoring Market, By End User
10 Therapeutic Drug Monitoring Market, By Region
11 Competitive Landscape
12 Company ProfilesAbbott Laboratories Bio-Rad Laboratories Biomrieux Bhlmann Laboratories Danaher Corporation F. Hoffmann-La Roche Randox Laboratories Sekisui Medical Siemens Healthineers Thermo Fisher Scientific
For more information about this report visit https://www.researchandmarkets.com/research/hwlclw/therapeutic_drug?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180829005385/en/
Laura Wood, Senior Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics:Drug Discovery
INDUSTRY KEYWORD: HEALTH PHARMACEUTICAL
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 08/29/2018 08:33 AM/DISC: 08/29/2018 08:33 AM