The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s therapeutic drug monitoring market report forecasts the therapeutic drug monitoring market size to grow to $3.03 Billion by 2027, with a CAGR (compound annual growth rate) of more than 9%.

Learn More On The Therapeutic Drug Monitoring Market Report 2023 – https://www.thebusinessresearchcompany.com/report/therapeutic-drug-monitoring-global-market-report

Therapeutic Drug Monitoring Market Size Forecast
The global therapeutic drug monitoring market is expected to grow from $1.93 billion in 2022 to $2.10 billion in 2023 at a compound annual growth rate (CAGR) of 8.83%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global therapeutic drug monitoring market size is expected to reach $3.03 billion in 2027 at a CAGR of 9.66%.

North America held the largest therapeutic drug monitoring market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Therapeutic Drug Monitoring Market Driver ­– Rise In Organ Transplant Surgeries
According to an article published in January 2023 by the United Network for Organ Sharing, a non-profit organisation based in the United States responsible for managing organ transplants, 42,887 organ transplants were done in the United States in 2022, a 3.7% increase over 2021. As a result, the therapeutic drug monitoring market is being driven by the increase in organ transplant surgeries.

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Key Therapeutic Drug Monitoring Market Trend – Product Innovations
Major therapeutic drug monitoring firms are focusing on developing new products to suit customer demands and expand their market position. Promise Proteomics, a proteomics firm based in France, announced mAbXmise kits in October 2021, a patented solution that contains labelled monoclonal antibodies, reagents, and laboratory supplies for quantifying therapeutic monoclonal antibodies by mass spectrometry. This multiplexing technology exceeds prior analytical methods, providing scientific, clinical, and economic views that fully meet the constraints of routine therapeutic drug monitoring.

Therapeutic Drug Monitoring Market Segment
1) By Product: Consumables, Equipment, Immunoassay Analyzers, Chromatography And Detectors
2) By Technology: Immunoassays, Chemiluminescence Immunoassays, Chemiluminescence Immunoassays, Colorimetric Immunoassays, Fluorescence Immunoassays, Radioimmunoassay, Other Immunoassays, Chromatography-Ms, Lc-Ms, Gc-Ms
3) By Class Of Drug: Antiepileptic Drugs, Antibiotic Drugs, Immunosuppressant Drugs, Antiarrhythmic Drugs, Bronchodilator Drugs, Psychoactive Drugs, Other Drugs
4) By End-user: Hospital Laboratories, Commercial and Private Laboratories, Other End Users

Therapeutic Drug Monitoring Market Major Players and Strategies
Major players in the therapeutic drug monitoring market are Abbott Laboratories Inc, Hoffmann-La Roche Ltd, Siemens Healthineers Inc., Thermo Fisher Scientific Inc., Sekisui Medical Co, Buehlmann Laboratories AG, Danaher Corporation, Bio-Rad Laboratories Inc., bioMérieux, Randox Laboratories Limited, Chromsystems Instruments & Chemicals GmbH, Grifols SA, Merck KGaA, OraSure Technologies, and BioChem Pharmaceuticals.

Sentinel Diagnostics, an Italian in vitro diagnostic business, paid an unknown sum for Eureka S.r.l. in February 2023. Sentinel Diagnostics is now a large producer and developer of IVD diagnostics, thanks to this acquisition. Sentinel Diagnostics’ enhanced capabilities will enable it to supply clinical laboratories with a broader range of assays, ranging from high-throughput core lab tests to the most cutting-edge, specialised second-level assays. EUREKA S.r.l. is a chromatographic IVD firm based in Italy that offers ready-to-use diagnostic kits for HPLC, GC, GC-MS, and LC-MS/MS applications in specific clinical chemistry, therapeutic drug monitoring, occupational toxicology, and forensic toxicology.

The Therapeutic Drug Monitoring Global Market Report 2023 covers regional data on therapeutic drug monitoring market size, therapeutic drug monitoring market trends and drivers, opportunities, strategies, and therapeutic drug monitoring market competitor analysis. The countries covered in the therapeutic drug monitoring market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Therapeutic drug monitoring (TDM) is a clinical practise in which the concentration of a certain medicine in a patient’s bloodstream is continuously checked to ensure that their dosing regimens are working properly. It is used to monitor pharmaceuticals with difficult-to-monitor target concentrations, medications with high pharmacokinetic variability, medications with known therapeutic and unfavourable side effects, and medications with limited therapeutic ranges.

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