Therapeutic Drug Monitoring Market Scenario
Growing preference for precision medicine, rising focus on R&D activities related to therapeutic drug monitoring are some of the major factors propelling the therapeutic drug monitoring market globally. Furthermore, advancement in the technologies is also one of the factor augmenting the growth of therapeutic drug monitoring market. However, requirement of huge capital investments is one of the major factor expected to hamper the global growth of the Therapeutic Drug Monitoring market.
Therapeutic Drug Monitoring Market Segmentation
The Therapeutic Drug Monitoring market is segmented by product, technology, class of drug, end user and geography.
Therapeutic Drug Monitoring Market by Geography
Geographically, the Therapeutic Drug Monitoring market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and RoW. Among all the regions, the Asia Pacific is anticipated to grow at a fastest CAGR during the forecast period. The growth in this region is attributed to the occurrence of unmet needs and the constant efforts of the government to offer low-cost services with the aim of promoting individualized dosage patterns for organ transplantation cases as well as to support personalized medicine initiatives in various countries in the region.
Therapeutic Drug Monitoring Market Key Players
Some of the major players operating in the global Therapeutic Drug Monitoring market includes Abbott laboratories, Thermo fisher scientific, F. Hoffmann-La Roche, Siemens Healthineers, Danaher Corporation, Bio-Rad Laboratories, Biomérieux, Theradiag, Grifols, Bühlmann laboratories, Sekisui medical, Randox laboratories, Diasystem Scandinavia, Cambridge life sciences and ARK diagnostics. These players are introducing clinically-effective and new-generation drug monitoring devices that are miniaturized and portable so as to increase a competitive edge in the market.
Therapeutic Drug Monitoring Market Report Key Benefits