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At 9.10% CAGR, Therapeutic Drug Monitoring Market Size is Expected to Reach USD 2854.83 Billion by 2027 Says Zion Market Research | Global Therapeutic Drug Monitoring Industry Trends, Share, Analysis & Forecast Report – PR Newswire

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NEW YORK, May 31, 2022 /PRNewswire/ — As per Zion Market Research study, The global Therapeutic Drug Monitoring market was worth around USD 1692.90 billion in 2021 and is estimated to grow to about USD 2854.83 billion by 2028, with a compound annual growth rate (CAGR) of approximately 9.10 percent over the forecast period. The report analyzes the digital remittance market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the digital remittance market.
Key Industry Insights & Finding of the Therapeutic Drug Monitoring Market Reports:
Zion Market Research published the latest report titled as  "Therapeutic Drug Monitoring Market by Product Split (Consumables, Equipment, Immunoassay Analyzers, Chromatography & MS Detectors , Clinical Chemistry Analyzers), By Technology Split (Immunoassays., Chemiluminescence Immunoassays, Colorimetric Immunoassays, Fluorescence Immunoassays, Radioimmunoassays, Other Immunoassays, Chromatography-MS, LC-MS, GC-MS), By Class of drug Split (Antiepileptic Drugs, Antibiotic Drugs, Immunosuppressant Drugs, Antiarrhythmic Drugs, Bronchodilator Drugs, Psychoactive Drugs, Other Drugs), By End User Split (Hospital Laboratories, Commercial & Private Laboratories, Other End Users) and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data and Forecasts 2021 – 2028." into their research database.
Therapeutic Drug Monitoring Market: Overview
Therapeutic drug monitoring is a test that involves measuring different medications in the bloodstream to ensure that the correct amount of treatment is being provided. It determines whether the quantity is sufficient to be useful while avoiding any serious reactions or adverse effects. Anti-arrhythmics, antibiotics, anti-epileptics, and psychotropic medications all require monitoring to guarantee their safety and effectiveness.
 One of the primary factors driving the market’s growth is the increase in demand for hospitals and medical care facilities around the world.The growing importance of (TDM) in organ transplant procedures, as well as a growing inclination for precision medicine, are propelling the market forward. The market is also influenced by the increased focus on drug research and development activities, as well as the widespread use of drug monitoring tests across many therapeutic disciplines.
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Industry Dynamics:
Therapeutic Drug Monitoring Market: Growth Drivers
Precision medicine is a growing field of disease treatment and prevention that takes into account individual differences in genes, surroundings, and lifestyles. Precision medicine is picking treatments that are completely suited to a patient’s ailment and medical history. Oncology has experienced the most development, despite the fact that this technique is extending into all disease areas. Cancer patients are being treated with a combination of medications based on studies of the patient’s factors such as systems biology, tumour analysis, and gene expression data in the absence and presence of pharmacological disruption. This method, which is now being tried in a variety of situations, intends to transform pharmacotherapy in oncology and other disease areas. TDM has the potential to make a significant contribution to the advancement of this unique approach to patient care.
Therapeutic Drug Monitoring Market: Restraints
Clinical laboratories across major markets are still changing. As a result, technicians have operational issues in procuring, storing, and transporting samples, particularly when using novel technologies like chemiluminescence immunoassays, HPLC, and multiplex flow immunoassays (MFI). To eliminate cross-contamination and maintain efficient time management, laboratory space must also be redesigned to match the requirements of conducting specialised immunoassay tests for pathogen identification. The cost of maintaining and operating modern immunoassay devices, especially those that can only handle a single sample type, is prohibitive.
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Global Therapeutic Drug Monitoring Market: Opportunities
Anti-TNF-alpha biologics are used to treat autoimmune illnesses such rheumatoid arthritis (RA) and inflammatory bowel disease (IBD) (IBD). The number of R&D initiatives focusing on the creation of biosimilars has expanded in recent years as healthcare expenses have risen and patents have expired. With the introduction of biosimilars to the market, there is a greater need to evaluate potential changes in biosimilar immunogenicity, as well as their safety and effectiveness characteristics when compared to their predecessors. TNF-alpha blockers like infliximab and adalimumab, for example, can both elicit immunogenicity reactions; researchers have speculated that their biosimilars medicines (CT-P13) may do the same. To provide optimal patient care, it is critical to develop methodologies for the TDM of biosimilar medications for autoimmune disorders.
Global Therapeutic Drug Monitoring Market: Segmentation
 and region.
The Therapeutic Drug Monitoring market is divided into Consumables, Equipment-Immunoassay Analyzers, Chromatography & MS Detectors, and Clinical Chemistry Analyzers based on the type of product. During the period of 2021 to 2028, the Consumables segment is expected to grow at the fastest CAGR. The demand for recurring purchases of kits and reagents, as well as the growing number of immunoassay tests performed around the world, are two important reasons driving the growth of this market.
By end user split, the market is divided into Hospital Laboratories, Commercial & Private Laboratories and Other End Users). Hospital Laboratories is having the largest share for the end uer split. Personalized medicine is propelling the therapeutic drug monitoring market forward, owing to rising desire for improved treatment outcomes with fewer medication side effects. TDM, for example, is widely used for anti-cancer drug monitoring, for which various oncology journals and societies, including the European Journal of Oncology, have published standard standards. Advanced treatment techniques such as pharmacogenomics, gene testing, and proteomics are also projected to drive market expansion. One of the primary factors driving the TDM market’s growth is the rise of antimicrobial resistance.
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List of Key Players of Therapeutic Drug Monitoring Market:
Key questions answered in this report:
Report Scope:
Report Attribute
Details
Market size value in 2021
USD 1,692.90 Billion
Revenue forecast in 2028
USD 2854.83 Billion
Growth Rate
CAGR of almost 9.10 % 2022-2028
Base Year
2020
Historic Years
2016 – 2021
Forecast Years
2022 – 2028
Segments Covered
By Product Type, By Application, and By End Use
Forecast Units
Value (USD Billion), and Volume (Units)
Quantitative Units
Revenue in USD million/billion and CAGR from 2022 to 2028
Regions Covered
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Companies Covered
Abbott (US), Thermo Fisher Scientific (US), F. Hoffmann-La Roche Ltd. (Switzerland), Siemens Healthineers AG (Germany), Danaher Corporation (US), Bio-Rad Laboratories (US), bioMérieux SA (France), Theradiag SA (France), Grifols S.A. (Spain), Exagen Inc. (US), R-Biopharm AG (Germany), ApDia Group (Belgium), UTAK (US), Randox Laboratories Ltd. (Ireland), ARK Diagnostics, Inc. (US). BioTeZ Berlin-Buch GmbH (Germany), Eagle Biosciences, Inc. (US), Jasem Laboratory Systems and Solutions (Turkey), Aalto Scientific, Ltd. (US), Immundiagnostik AG (Germany), Sekisui Medical Co. Ltd. (Japan), DiaSystem Scandinavia AB (Sweden), Cambridge Life Sciences Limited (UK), Chromsystems Instruments & Chemicals GmbH (Germany), and BÜHLMANN Laboratories (Switzerland).
Report Coverage
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope
Avail customized purchase options to meet your exact research needs.  
https://www.zionmarketresearch.com/custom/3497
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Recent Developments
Regional Dominance:
North America is having the largest share because of its superior health care base, strong regional economies, and government emphasis on prevention and wellness. Increased per capita healthcare expenditures and the development of technologically advanced healthcare infrastructure are driving this industry forward. Furthermore, the region’s focus has changed away from simple TDM tests and toward comprehensive testing in order to identify the gaps between prescribing the correct drug dosage and attaining the intended therapeutic outcome.
Global Therapeutic Drug Monitoring Market is segmented as follows:
Therapeutic Drug Monitoring Market: By Product Split Outlook (2022-2028)
Therapeutic Drug Monitoring Market: By Technology Split Outlook (2022-2028)
Therapeutic Drug Monitoring Market: By Class of drug Split Outlook (2022-2028)
Therapeutic Drug Monitoring Market: By End user Split Outlook (2022-2028)
Therapeutic Drug Monitoring Market: By Region Outlook (2022-2028)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Press Release For Therapeutic Drug Monitoring Market: https://www.zionmarketresearch.com/news/global-therapeutic-drug-monitoring-market
Browse Other Related Research Reports from Zion Market Research
Browse through Zion Market Research’s coverage of the Global Healthcare Industry
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About Us
Zion Market Research is an obligated company. We create futuristic, cutting edge, informative reports ranging from industry reports, company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.
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