(PharmaNewsWire.Com, August 26, 2021 ) The Key Growth Elements in Detailed?
The Therapeutic Drug Monitoring Market growth is largely driven by factors such as the rising number of organ transplant procedures, the use of TDM across various therapeutic fields, the increasing preference for precision medicine, a growing focus on R&D related to TDM, and technological advancements in immunoassay instruments. Increasing adoption in the treatment of autoimmune diseases is expected to provide a wide range of growth opportunities for players in the TDM Market.
Worldwide Growth Opportunities in Terms of Revenue:
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.
Immunoassays is expected to hold the largest share of the TDM Market in 2020
Based on technology, the therapeutic drug monitoring market is segmented into immunoassays and chromatography-MS. In 2019, immunoassays segment accounted for the largest market share, due to the increasing incidence of chronic and infectious diseases and technological innovation.
GROWTH OPPORTUNITY: Increasing adoption in the treatment of autoimmune diseases;
TDM is being used for Methotrexate (MTX), a folic acid analog used as a therapeutic agent for the treatment of autoimmune disease. MTX was initially used at low doses to treat chronic autoimmune disorders such as RA and Crohn’s disease. Owing to its low cost, safety, effectiveness, and clinical history, MTX is the first-line treatment for RA. However, nearly 40% of patients with RA do not respond to MTX or show clinical improvement. The reasons for non-response include a variation between patients in MTX uptake or metabolism, non-compliance with the drug regimen, or prescription of insufficient MTX dose. TDM for MTX targets measures the level of MTX-PGs in the blood cells of patients with RA and correlates these levels with response to therapy, which shows its potential applications in the area.
The TDM Market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2019, North America commanded the largest share of the therapeutic drug monitoring market. Increasing per capita healthcare expenditure and the presence of technologically advanced healthcare infrastructure in the region, coupled with initiatives taken by different government associations, are anticipated to boost the market growth in the region.
Major Key Players Mentioned in the research report are:
The major players operating in Therapeutic Drug Monitoring Market are 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.)
Recent developments in Therapeutic Drug Monitoring Market:
- In 2020, F. Hoffmann-La Roche established its presence in Cape Town, South Africa to increase their research, development and biotech production capabilities. The site will be built, featuring laboratory, biotech production and office workspace.
- In 2019, Theradiag signed distribution agreement in China, in Hong Kong-Macao and in Taiwan, to distribute its main TRACKER range biotherapy monitoring tests. These initiatives have helped the company to hold a strong position in the Asian market.
- In 2018, ARK Diagnostics, Inc. received 510(k) clearance from FDA for the ARK Tramadol Assay.
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