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Published: Mar 07, 2022
Albany NY, United States: The pandemic situation caused by the outbreak of novel coronavirus is expected to increase the demand for products and services in the global therapeutic drug monitoring market in coming years. Various life sciences and pharmaceutical researchers are seen increasingly focusing on finding a suitable and effective treatment for the COVID-19 virus. These drug discovery processes require undertaking extensive testing efforts for examining the potency and efficiency of the developed drugs.
Players and manufacturers in the global therapeutic drug monitoring (TDM) market are providing various equipment and management tools such as calibrators and controls to aid the pharmaceutical and clinical research laboratories in new drug discovery processes. Another major factor driving the need for sophisticated products in the global therapeutic drug monitoring (TDM) market is the rapidly increasing rate of hospitalization owing to the fast transmission of the novel coronavirus.
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Rising demand for hospital and medical care institutions is anticipated to bolster the growth of hospital laboratories and thereby fueling the demand in global therapeutic drug monitoring (TDM) market in the near future. Rising number of people requiring round the clock care, increasing number of patients being admitted to healthcare facilities, and substantial rise in the testing volumes are also propelling growth in the global therapeutic drug monitoring (TDM) market. Rising demand for organ transplant surgeries is also another key motivator for the growth of the global therapeutic drug monitoring (TDM) market in coming year. This trend is attributed to the significance of TDM equipment in the organ transplant procedures.
Therapeutic drug monitoring (TDM) is the clinical practice of determining the concentration of a specific drug in a patient’s bloodstream at different intervals. Therapeutic drug monitoring (TDM) helps to sustain a constant volume of drug in bloodstream required to show therapeutic effects without toxic effects, thereby optimizing individual dosage regimens.
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Therapeutic drug monitoring (TDM) is generally not deployed for majority of drugs, rather it is used primarily for monitoring drugs with narrow therapeutic window, medicines for which required concentrations are challenging to monitor, drugs with marked pharmacokinetic variability, and drugs known to cause adverse effects. TDM begins with the initiation of medication, and involves determining a preliminary dosage regimen suitable for the clinical state and patient characteristics as age, body mass index, weight, organ function, and associated drug therapy. TDM serves in assessing the efficiency and safety of a medication when administered into the individual patient.
The therapeutic drug monitoring (TDM) market is anticipated to witness healthy growth during the forecast period, owing to steep rise in the demand for better healthcare for the growing urban population. Increased knowledge of pharmacogenetics and pharmacokinetics of drugs is inclining the clinicians towards therapeutic drug monitoring (TDM) of certain medications. Rapid increase in the prevalence of complex neurological diseases and cancer have fueled the demand for high end diagnostic methods such as genetic testing which in turn is anticipated to boost therapeutic drug monitoring (TDM) market. Moreover, increasing investments in research and development of novel drugs and vaccines by private and government bodies is also expected to propel the demand for the therapeutic drug monitoring (TDM) market in the near future.
In addition, rise in the geriatric population, especially in developing geographies and development of innovative tools in medication management are further driving this market. However, low research and development (R&D) returns, high infrastructure cost, stringent regulatory framework, and lack of trained resources are some of the restraints of the therapeutic drug monitoring (TDM) market.
The therapeutic drug monitoring (TDM) market can be segmented on the basis of product type, technology, drug class, end user and region. The product type segment can be further segmented into number of equipment such as immunoassay analyzers, spectrophotometers, chromatograms, and consumables. Increasing preference for technologically advanced services, product innovation, and growing number of diseases is anticipated to fuel the therapeutic drug monitoring (TDM) market growth. On the basis of technology the market is segmented into immunoassays such as chemiluminescent assays (CLIA), enzyme-linked immunosorbent assay (ELISA), proteomics technologies, chromatography, etc. On the basis of drug class, the market can be segmented into antiepileptics, antibiotics, psychoactive drugs, antiarrhythmic drugs, bronchodilators, immunosuppressants, and others.
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Geographically, the therapeutic drug monitoring (TDM) market can be segmented into North America, Europe, Asia Pacific, Middle East and Africa and Latin America. North America is estimated to hold the largest share of the global therapeutic drug monitoring (TDM) market due to the presence of superior health care base, strong regional economics, and greater emphasis on prevention and wellness by government. This trend is also reflected in other countries.
The therapeutic drug monitoring (TDM) market in Europe is expected to witness rapid growth, attributed to high consciousness about wellbeing in the region coupled with increasing spending on healthcare services. Countries such as China, Japan, and India in the Asia Pacific are poised to be the most promising markets for therapeutic drug monitoring (TDM) in the near future. Major factors for the positive outlook are extensive development of health care infrastructure, and growing emphasis on research and development in the health care sector.
Key players operating in the therapeutic drug monitoring market include Abbott Diagnostics, Danaher Corporation, F. Hoffmann-La Roche AG, Bio-Rad Laboratories Inc., Siemens Healthcare, Roche Diagnostics, Thermo Fisher Scientific, and Agilent Technologies.
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