(PharmaNewsWire.Com, January 08, 2021 ) According MarketsandMarkets Research - The Global Therapeutic Drug Monitoring Market is projected to reach USD 2.0 billion by 2025 from USD 1.4 billion in 2020, at a CAGR of 6.9% from 2020 to 2025.
Market Segmentation in Depth:
On the basis of product, the therapeutic drug monitoring market is segmented into consumables and equipment. In 2019, consumables segment accounted for the largest market share, primarily due to the repeat purchases of kits and reagents and the increasing number of immunoassay tests being performed across the globe.
On the basis of technology, the TDM Market is segmented into immunoassays and chromatography-MS. The immunoassays segment accounted for the largest share of this market in 2019, mainly due to the increasing incidence of chronic and infectious diseases and technological innovation.
On the basis of technology, the therapeutic drug monitoring market is segmented into antiepileptic drugs, antibiotic drugs, immunosuppressant drugs, antiarrhythmic drugs, bronchodilator drugs, psychoactive agents, and other drugs. 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.
“North America is expected to hold the highest share in 2020” The large share of the therapeutic drug monitoring market in North America can be attributed to the increasing per capita healthcare expenditure and the presence of technologically advanced healthcare infrastructure in the region, coupled with initiatives taken by different government associations,
Key Market Players;
The major players operating in the TDM Market include Abbott Laboratories (U.S.), F. Hoffmann-La Roche (Switzerland), Siemens Healthineers (Germany), Thermo Fisher Scientific (U.S.), Danaher Corporation (U.S.), Bio-Rad Laboratories (U.S.), bioMérieux (France), BÜHLMANN Laboratories (Switzerland), SEKISUI MEDICAL (Japan), Randox Laboratories (Ireland), DiaSystem Scandinavia AB (Sweden), Cambridge Life Sciences Limited (United Kingdom), ARK Diagnostics, Inc. (U.S.), Chromsystems Instruments & Chemicals GmbH (Germany), Grifols (Spain), Exagen Inc. (U.S.), Theradiag (France)
Abbott Laboratories (US);
Abbott has a strong presence in the US and seeks to further enhance its geographical presence by strengthening its business operations in emerging and high-growth markets. The company’s extensive R&D activities for product development and ongoing clinical trials for newly developed medicines are expected to drive the growth of its market share in the coming years. In 2019, Abbott invested USD 2.4 billion in R&D activities, of which USD 533 million was invested for the development of technologically advanced diagnostic products.
Thermo Fisher Scientific (US);
Thermo Fisher Scientific accounted for the second-largest share of almost 13.5% of the global market in 2019. The company’s TDM product portfolio includes consumables such as controls and calibrators, as well as reagents. It is likely to maintain its leading position in this market, owing to its strong portfolio and frequent launches of products.
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