The global therapeutic drug monitoring market is projected to grow at a CAGR of 5.9%

Wednesday, August 29, 2018 Drug News
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NEW YORK, August 29, 2018 /PRNewswire/ -- The global therapeutic drug monitoring market is projected to grow at a CAGR of

5.9%.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.Read the full report: https://www.reportlinker.com/p03722542 Hospital laboratories are expected to account for the largest share of the therapeutic drug monitoring market in 2018.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.The consumables segment is expected to dominate the market in 2018.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.The antiepileptic drugs segment is expected to dominate the market in 2018.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.The immunoassays segment is expected to dominate the market in 2018.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.North America is expected to account for the largest share of the market in 2018.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.Break-up profile of primaries:• By Company Type- Tier 1-33%, Tier 2-40% and Tier 3-27%• By Designation- C-level-21%, D-level-36% and Others-43%• By Region- North America-43%, Europe-31%, Asia Pacific-18%, and RoW-8%The key players operating in the TDM market are F. Hoffmann-La Roche (Switzerland), Siemens Healthineers (Germany), and Abbott (US).Research Coverage:The therapeutic drug monitoring market in this report is segmented by technology, product, class of drug, and end user.The study tracks and analyzes competitive developments such as product launches, approvals, and acquisitions.It also profiles key players and their core competencies in the therapeutic drug monitoring market.Reasons to buy this report:The report provides insights on the following pointers:• Market Penetration: Comprehensive information on the portfolios offered by the top players in the therapeutic drug monitoring market• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and product launches in the global therapeutic drug monitoring market• Market Development: Comprehensive information about lucrative emerging markets—the report analyzes markets for therapeutic drug monitoring products across regions• Market Diversification: Exhaustive information about new products, untapped geographies, and recent developments in the market• Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of the key players in the global therapeutic drug monitoring marketRead the full report: https://www.reportlinker.com/p03722542 About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________ Contact Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001

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