Therapeutic Drug Monitoring Market size was valued at USD 2.14 billion in 2024 and is set to exceed USD 6.8 billion by 2037, expanding at over 9.3% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of therapeutic drug monitoring is evaluated at USD 2.31 billion.
The growth of the market during the forecast period can be attributed to the increasing focus of the healthcare providers to provide health care services, increasing demand for genetic testing, increased government and private sector participation in therapeutic drug monitoring markets, improvements in diagnostic technologies, rise in drug profiling processes, along with developments in process automation and system engineering. Moreover, favorable government regulations which permit drug monitoring especially in primary healthcare centers and private labs, is also anticipated to contribute towards the market growth during the forecast period.
Growth Drivers
Challenges
The global therapeutic drug monitoring market is segmented by product, technology, class of drugs and end users. On the basis of product, the market can be segmented into consumables, equipment, and others. Out of these, the consumables segment is expected to hold the largest market share during the forecast period. The rising requirement for new technology-based, cost-effective kits along with the extensive use of reagents especially in the areas of research and development are some of the factors that are responsible for the growth of the consumables segment in the global market.
Our in-depth analysis of the global market includes the following segments
By Product |
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By Technology |
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By Class of Drugs
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By End user
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North America Market Statistics
On the basis of regional analysis, the market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
North America industry is anticipated to account for largest revenue share by 2037, on account of presence of leading players in the region. Moreover, the growing cases of COVID’19 and increasing healthcare expenditure in this region which further increases the product demand, is also anticipated to add on to the growth of the market in the region.
APAC Market Analysis
On the other hand, the market in Asia Pacific region is predicted to grow at the highest rate during the forecast period as a result of prevalence of chronic and infectious diseases in the region. The ageing population, especially in countries such as China, India and Japan, is further resulting in the increased demand for therapeutic drug monitoring supplies.
June 9th, 2020 - Thermo Fisher Scientific, a U.S. based TDM Service provider announced that it had partnered with Agios Pharmaceuticals, a U.S. Pharmaceutical company, to co-develop a Global Companion Diagnostic for Low-grade Glioma.
Author Credits: Radhika Pawar
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