Therapeutic drug monitoring market to see impressive growth at a steady CAGR of 9.7% during forecast years (2022-2032) good for improved healthcare services

Future Market Insights Global and Consulting Pvt.  Ltd.

Future Market Insights Global and Consulting Pvt. Ltd.

Therapeutic Drug Monitoring is a medical practice used to determine the concentration of a particular drug in the patient’s bloodstream at different time intervals. It is used to maintain a constant volume drug in the bloodstream without any toxic effect. Therapeutic drug control is not used with most drugs, but only with drugs with a narrow therapeutic window. It is also used in drugs with clear pharmacokinetic variability

NEWARK, Del, Aug 02, 2022 (GLOBE NEWSWIRE) — The therapeutic drug monitoring market is expected to witness lush growth at a phenomenal CAGR of 9.7% over the forecast period, increasing from US$1.5 billion in 2020 to reach a valuation of US$2.9 billion by 2026.

Due to a reasonable increase in the number of organ transplant operations, sales of monitoring therapeutic drugs are also increasing rapidly. Due to the increasing preference for precision medicine, the demand for therapeutic drug monitoring is accelerating.

Precision medicine chooses treatments that are completely tailored to the patient’s condition and medical history. Oncology has progressed the most, although this technique extends to all areas of disease.

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Key learning points

  • Increasing research and development in the industry is expected to make a significant contribution to the growth of the therapeutic drug monitoring market share.

  • The main trends promoting the therapeutic drug monitoring market are precision medicine. It is an area of ​​disease treatment that is receiving a lot of attention. This type of treatment takes into account individual differences in environment, genes and lifestyle.

  • Precision medicines are getting a lot of attention and are now being tried in different situations. It plans to transform pharmacotherapy in oncology and other fields of disease. With the potential to make a significant contribution to the advancement of healthcare, precision drug treatment uses a unique approach to patient care.

  • Cancer patients receive treatment based on a combination of drugs that rely on studies of the patient’s factors, such as systems biology, tumor analysis, and gene expression data in the presence and absence of pharmacological disruption.

  • The global therapeutic drug monitoring market has shown significant growth in recent years and is expected to grow at a robust CAGR over the forecast period.

  • The sale of therapeutic drug monitoring is driven by several key factors, including an aging population with better healthcare services, an increasing demand for genetic testing, increased government and private sector participation in the therapeutic drug monitoring markets, and an increase in the profiling of therapeutic drug monitoring. medicines.

  • Therapeutic drug monitoring stems from clinical chemistry and clinical pharmacology. The primary goal is to maintain drug concentration levels in the body fluids within the specific therapeutic range. By individually adjusting drug dosage, therapeutic drug monitoring aims to refine patient care for better outcomes.

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Competitive landscape

Roche Diagnostics, Coulter, BioRad, OraSure Technologies and BioChem Pharmaceuticals are some of the key companies profiled in the full version of the report.

The report identifies key players contributing to the therapeutic drug monitoring market share. It also consists of organic and inorganic growth strategies adopted by market players to improve their market positions. This exclusive report analyzes the competitive landscape and market share of Therapeutic Drugs acquired by players to bolster their market position.

More insights into the Therapeutic Drug Monitoring market

On the basis of regions, the therapeutic drug monitoring market is segmented into seven major regions, namely: North America, South America, Eastern Europe, Western Europe, Asia-Pacific, Japan, and Middle East & Africa.

The North American region is expected to dominate the therapeutic drug monitoring market by considering the maximum sales in the global market.

There has been a reasonable increase in sales of therapeutic drug monitoring, but there has been a slight decline in the annual growth rate. According to FMI reports, the demand for therapeutic drug monitoring is expected to increase as the market evolves in the future.

The numerous benefits of therapeutic drug monitoring are being appreciated in the established markets and as the techniques and products appear in the emerging market. In addition, emerging economies are also starting to show a positive trend as the demand for therapeutic drug monitoring increases.

Advances in technology and a significant increase in the disease population around the world are increasing the demand for therapeutic drug monitoring as it is rapidly becoming accepted as a method of choice in patients.

To improve diagnostic offerings and increase sales of therapeutic drug monitoring, companies are conducting more research and implementing therapeutic drug monitoring strategies.

Sales of therapeutic drug monitoring are expected to skyrocket over the forecast period of 2022-2032 by introducing changes to new and stricter regulations and improvements in diagnostic technologies, automation and systems engineering.

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Main market segments:

By product

By technology

By drug class

  • Anti epileptics

  • Antiarrhythmics

  • Immunosuppressive Drugs

  • Antibiotic drugs

  • Bronchodilator Drugs

  • Psychoactive drugs

  • Other drug classes

By end users

  • Commercial/Private Laboratories

  • Hospital Laboratories

  • Other end users

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Index
1. Summary

1.1. Global Market Outlook

1.2. Demand-side trends

1.3. Trends on the supply side

2. Market overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Restrictions

3. Market Background

3.1. Market dynamics

3.2. Scenario Forecast

3.3. Opportunity Map Analysis

4. Global Therapeutic Drug Monitoring Market Analysis 2017-2021 and Forecast, 2022-2032

4.1. Historical Market Size Value (US$ Million) & Volume (Number of Tests) Analysis, 2017-2021

4.2. Current and Future Market Size Value (US$ Million) & Volume (Number of Tests) Projections, 2022-2032

Click here for Therapeutic Drug Monitoring Market 250 Pages TOC Report

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