Therapeutic Drug Monitoring Market Trends and Forecast Report 2024-2033 | By Types, Applications, Regions And Players

Posted by Amruta Pritam on February 14th, 2024

The Therapeutic Drug Monitoring Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Therapeutic Drug Monitoring Global Market Report 2024, The therapeutic drug monitoring market size has grown strongly in recent years. It will grow from .1 billion in 2023 to .29 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The  growth in the historic period can be attributed to rising incidence of chronic diseases, drug safety concerns, pharmacogenomics integration, increasing drug development, regulatory emphasis on precision medicine.

The therapeutic drug monitoring market size is expected to see rapid growth in the next few years. It will grow to .36 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to expanding applications in oncology, rise in personalized medicine practices, global increase in aging population, expanded point-of-care testing, growing pharmaceutical r&d expenditure. Major trends in the forecast period include personalized medicine, technological advancements, increased drug development and usage, point-of-care testing (poct), emerging biomarkers and assay technologies.

The rise in organ transplant surgeries is expected to propel the growth of the therapeutic drug monitoring market. Organ transplantation is a surgical process that transfers an organ from one individual (the donor) to another. The TDM of immunosuppressive medicines has been recognized as an effective method in managing patients undergoing solid organ transplantation. TDM optimization may result in avoiding toxic or insufficiently low-dose therapy that might result in organ rejection. For instance, in January 2023, according to an article released by the United Network for Organ Sharing, a US-based non-profit organization responsible for managing organ transplants, in 2022, in the US, 42,887 organ transplants were performed, a 3.7% increase over 2021. Therefore, the rise in organ transplant surgeries drives the therapeutic drug monitoring market.

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The therapeutic drug monitoring market covered in this report is segmented –

1) By Product: Consumables, Equipment, Immunoassay Analyzers, Chromatography And Detectors

2) By Technology: Immunoassays, Chemiluminescence Immunoassays, Chemiluminescence Immunoassays, Colorimetric Immunoassays, Fluorescence Immunoassays, Radioimmunoassay, Other Immunoassays, Chromatography-Ms, Lc-Ms, Gc-Ms

3) By Class Of Drug: Antiepileptic Drugs, Antibiotic Drugs, Immunosuppressant Drugs, Antiarrhythmic Drugs, Bronchodilator Drugs, Psychoactive Drugs, Other Drugs

4) By End-user: Hospital Laboratories, Commercial and Private Laboratories, Other End Users

Product innovations are a key trend gaining popularity in the therapeutic drug monitoring market. Major companies in the therapeutic drug monitoring sector are focused on developing new products to meet customer needs and strengthen their market position. In October 2021, Promise Proteomics, a France-based proteomics company, launched mAbXmise kits, a proprietary solution that combines labeled monoclonal antibodies, reagents, and laboratory supplies for quantifying therapeutic monoclonal antibodies by mass spectrometry. This multiplexing technique outperforms previous analytical methods, giving scientific, clinical, and economic perspectives that completely fulfill the limits of routine therapeutic drug monitoring.

The therapeutic drug monitoring market report table of contents includes:

1. Executive Summary

2. Therapeutic Drug Monitoring Market Characteristics

3. Therapeutic Drug Monitoring Market Trends And Strategies

4. Therapeutic Drug Monitoring Market - Macro Economic Scenario

5. Global Therapeutic Drug Monitoring Market Size and Growth

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31. Global Therapeutic Drug Monitoring Market Competitive Benchmarking

32. Global Therapeutic Drug Monitoring Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Therapeutic Drug Monitoring Market

34. Therapeutic Drug Monitoring Market Future Outlook and Potential Analysis

35. Appendix

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