Therapeutic Drug Monitoring Market: Global Industry Analysis and Opportunity Assessment 2015-2025
New York, NY -- (SBWIRE) -- 06/13/2019 -- Therapeutic drug monitoring is a branch of clinical chemistry and clinical pharmacology which aims at maintaining the drug concentration levels in the body fluids within the particular therapeutic range. The purpose of therapeutic drug monitoring is refining patient care by individually adjusting the drug dosage for better outcomes.
Some of the situations where measurement of drug dosage concentration is useful include, non-response at therapeutic dose, suboptimal tolerability, pharmacokinetic drug-drug interaction and drug adherence. TDM is regarded as a module of personalized medicine that interacts with various other disciplines such as pharmacogenomics and pharmacokinetics. Most commonly monitored drugs are digoxin, valproate and carbamazepine.
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The global therapeutic drug monitoring market showed significant growth over the last few years and is projected to grow at a robust CAGR during the forecast period.
Therapeutic Drug MonitoringMarket: Drivers and Restraints
Therapeutic drug monitoring is driven by various key factors which include, ageing population with better health care services, increasing demand for genetic testing, increased government and private sector participation in therapeutic drug monitoring markets, rise in drug profiling.
Ongoing problems with reimbursement, retrenchment in the hospital fields and a weak global economy. Fluctuating exchange rates further weakens the global market.
Therapeutic Drug MonitoringMarket: Segmentation
Global therapeutic drug monitoring market is segmented on the basis of product type as following:
Therapeutic drug monitoring market is further segmented on the basis of technology as:
Therapeutic Drug MonitoringMarket: Overview
With the advancement of technology and increase incidence in disease population, therapeutic drug monitoring, is gaining wide acceptance as a method of choice among patients. This market is expected to grow at a healthy CAGR in the forecast period (2015-2025).
In the upcoming years, the TDM market will undergo significant transformation. These alterations will be done by convergence of new and more stringent regulations improvements in diagnostic technologies, automation and system engineering.
Therapeutic Drug MonitoringMarket: Region-wise Outlook
Depending on geographic regions, therapeutic drug monitoring market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa.
In terms of geography, North America dominates the therapeutic drug monitoring market, followed by Europe. During the earlier stages of this market development growth rates were higher, while the value of the market was relatively low. As the market value started to rise the annual growth rate declined slightly, but is expected to increase again as the market develops and the advantages of therapeutic drug monitoring is appreciated in the established markets and as the techniques and products appear in the emerging market.
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Therapeutic Drug MonitoringMarket: Key Players
Coulter, BioChem Pharmaceuticals, BioRad, OraSure Technologies,and Roche Diagnostics. The market is currently led by Some of the key players in compression therapy market are,Abbott Laboratories, Bayer AG, Beckman Roche diagnostics followed by Abbott Laboratories.