Advancements In Technology and Increasing Government Initiatives to Promote Clinical Trials Has Propelled the Growth of the Therapeutic Drug Monitoring Market in the North America Region!
- Vikas Kumar
- June 3, 2023
- HEALTHCARE, NEWS
- Therapeutic Drug Monitoring Market, Therapeutic Drug Monitoring Market Analysis, Therapeutic Drug Monitoring Market Forecast, Therapeutic Drug Monitoring Market Growth, Therapeutic Drug Monitoring Market Size, Therapeutic Drug Monitoring Market Trends
- 0 Comments
Therapeutic drug monitoring (TDM) measures drug concentrations in a patient’s blood or other bodily fluids to maximise the efficacy and security of pharmacological therapy. TDM’s purpose is to guarantee that a patient receives the correct medicine dose depending on individual characteristics such as age, weight, genetics, and other medical problems. TDM is commonly employed for medications with a narrow therapeutic range, which means there is a tiny gap between the drug’s minimum effective concentration and hazardous concentration. For reaching accuracy and precision of the drug level measurement of TDM, there are advancements in the technology of the TDM equipment such as liquid chromatography and mass spectrometry. This advancement in the TDM makes it a more reliable source in the field of diagnostics.
Access sample report (including graphs, charts, and figures): https://univdatos.com/report/therapeutic-drug-monitoring-market/get-a-free-sample-form.php?product_id=38992
These technological advancements have also led to the development of new TDM products and services, which has further boosted market growth. For instance, in September 2020, Siemens Healthineers launched a new TDM test for the immunosuppressive drug Sirolimus, which utilized a mass spectrometry-based platform to provide accurate and reliable measurements of drug levels. Additionally, the increasing government initiatives to promote clinical trials have also played a significant role in driving the growth of the TDM market in North America. The government has enforced programs and guidelines to promote the use of TDM in clinical trials, which has boosted the demand for TDM and the adoption of this service in healthcare settings. Moreover, Government support has also encouraged companies to invest in the development of new TDM products and services and to conduct clinical trials to confirm the effectiveness and safety of these products.
Further, the Asia Pacific Therapeutic Drug Monitoring Market is expected to grow at a strong CAGR of 6.0% during the forecast period (2022-2030). In conclusion, Technological advancements and increasing government initiatives to advance clinical trials have created a favorable environment for the growth of the TDM market in North America. The growing demand for personalized medicine, coupled with the need for accurate and reliable drug concentration measurement, is expected to continue to drive the growth of this market in the future.
FIG. 1 North America Therapeutic Drug Monitoring Market Revenue (2020-2030)- USD Mn
For a detailed analysis of the Global Therapeutic Drug Monitoring Market browse through
Based on product type, the market is segmented into consumables and devices. Among them, the consumables segment captured a significant share of the market in 2021. This is due to the increasing prevalence of chronic diseases which is boosting this segment. Moreover, the increasing demand for new technology-based, cost-effective kits and the use of reagents in the R&D area is also boosting the growth of the segment of the market.
Browse Full Report Description + Research Methodology + Table of Content + Infographics@https://univdatos.com/report/therapeutic-drug-monitoring-market/
Based on the technology, the market is bifurcated into immunoassays, proteomic technologies, and others. Among them, the immunoassays segment is expected to grow at a higher CAGR in the market. This is due to the availability of highly specific and reliable immunoassay which is likely to aid the growth of the segment. Moreover, the rising adoption rate of advanced techniques and the requirement of minimal training to handle the equipment also boosted the growth of the segment.
Global Therapeutic Drug Monitoring Market Segmentation
Market Insight, by Product Type
Market Insights, by Technology
- Proteomic Technologies
Market Insights, by Drug Class
- Anti-Arrhythmic Drugs
Market Insights, by End-Use
- Hospital Labs
- Private Labs
Market Insight, by Region
- North America Therapeutic Drug Monitoring Market
- Rest of North America
- Europe Therapeutic Drug Monitoring Market
- Asia-Pacific Therapeutic Drug Monitoring Market
- Rest of Asia-Pacific
- Rest of the World Therapeutic Drug Monitoring Market
Top Company Profiles
- Roche AG
- Siemens Healthcare GmbH
- Thermo Fisher Scientific, Inc.
- Bio-Rad Laboratories, Inc.
- Beckman Coulter, Inc.
- Abbott Laboratories, Inc.
- Agilent Technologies, Inc.
- bioMérieux, Inc.
- Bayer AG
- Alere, Inc.