Therapeutic Drug Monitoring Market Consumer Insights: Understanding Patient Needs

 

The global therapeutic drug monitoring market size is estimated to reach USD 2.32 billion by 2030, expanding at a CAGR of 3.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. Recent technological advancements in the Point-of-Care (PoC) devices hold considerable transformative promises for the personalized predictive and preventive medicine. Therapeutic Drug Monitoring (TDM) forms a foundational part to the devising of personalized treatment plans for patients; and the advent of PoC diagnostic devices that yield quantitative measurements of the drug concentration plays a pivotal role in supporting the development of the precision medicine field in the healthcare sector. However, the broad application of the PoC devices for patient monitoring is still lagging behind. The presence of this untapped opportunity is one of the high impact rendering drivers for the market growth.

 

The employment of continuous therapeutic drug and metabolite monitoring in the early phase of the medication regimen, administered post-organ transplantation, forms a major application in the areas of critical care medicine and organ transplantation, which is expected to propel the growth of the therapeutic drug monitoring market over the forecast period. In addition, the imposing burden of diseases, such as epilepsy and cancer, the rising government initiatives, and the presence of high-unmet needs are some of the crucial determinants expected to further favor the emergence of this market.

 

 

Access the Therapeutic Drug Monitoring Market Size, Share & Trends Analysis Report By Product (Equipment, Consumables), By Drug Class (Antiarrhythmic Drugs), By End Use (Diagnostic Centers), By Region, And Segment Forecasts, 2024 - 2030

 

 

Therapeutic Drug Monitoring Market Report Highlights

 

The consumables segment covered over 65.4% of the market share in 2023 as a consequence of the extensive requirement of the consumables in the research laboratories and due to the repeat purchase of the kits and reagents.

 

The immunosuppressants segment is expected to grow fastest, with a compounded annual growth rate of 5.3% over the forecast period.

 

The hospital segment dominated the market share in 2023. In larger hospitals, various underlying technologies are employed to perform immunoassays; these comprise chemiluminescence, nephelometry, colorimetry, and fluorescence, which are available for the testing of a wide ranging drug panel.

 

The drug monitoring for the immunosuppressants is one of the fastest growing application segments owing to the introduction of novel TDM point-of-care testing devices for the evaluation of the concentration of administered immunosuppressants and the complementary metabolites, in order to achieve a prominent therapeutic effect while preventing drug toxicity events in patients that have undergone transplantations.

 

 

Key Therapeutic Drug Monitoring Company Insights

Some of the key companies in the therapeutic drug monitoring market are Abbott, ALPCO, Beckman Coulter, Inc., Bio-Rad Laboratories, Inc., Thermo Fisher Scientific Inc., Chromsystems Instruments & Chemicals GmbH, F.Hoffmann-La Roche Ltd., Randox laboratories Ltd, Siemens Healthineers AG., and biomérieux, Inc. Organizations are focusing on increasing customer base to gain a competitive edge in the industry. Therefore, key players are taking several strategic initiatives, such as mergers and acquisitions and partnerships with other major companies.

 

Abbott, known for its diagnostic technologies, offers a range of products and solutions tailored to monitor drug levels in patients effectively. These include assays and instruments that aid healthcare providers in optimizing medication dosages, ensuring efficacy, and enhancing patient safety across various therapeutic areas.

 

ALPCO (American Laboratory Products Company) is a player in the therapeutic drug monitoring market, specializing in providing high-quality assays and immunoassay kits. These products are designed to accurately measure drug levels in patient samples, supporting healthcare providers in optimizing therapeutic outcomes and patient management.

 

 

Order your free sample copy of “Therapeutic Drug Monitoring Market Report 2024 - 2030, published by Grand View Research

 

Key Therapeutic Drug Monitoring Companies:

The following are the leading companies in the therapeutic drug monitoring market. These companies collectively hold the largest market share and dictate industry trends.

 

·        Abbott

·        ALPCO

·        Beckman Coulter, Inc

·        Bio-Rad Laboratories, Inc

·        Thermo Fisher Scientific Inc.

·        Chromsystems Instruments & Chemicals GmbH

·        F.Hoffmann-La Roche Ltd.

·        Randox laboratories Ltd

·        Siemens Healthineers AG.

·        biomérieux, Inc.

 

 

About Grand View Research:

Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies, ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials, and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit www.grandviewresearch.com

 

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