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Therapeutic Drug Monitoring Market worth $2.7 billion by 2026 – Exclusive Report by MarketsandMarkets™

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Therapeutic Drug Monitoring Market worth $2.7 billion by 2026 – Exclusive Report by MarketsandMarkets™

October 21
19:10 2022
Therapeutic Drug Monitoring Market worth $2.7 billion by 2026 - Exclusive Report by MarketsandMarkets™
The major players in the Therapeutic Drug Monitoring market are Abbott (US), Thermo Fisher Scientific (US), F. Hoffmann-La Roche Ltd. (Switzerland), Siemens Healthineers AG (Germany), Danaher Corporation (US)
In 2021, Thermo Fisher Scientific (US) partnered with Mindray on Clinical Chemistry Analyzers for use with Drugs of Abuse Immunoassays.

According to the new market research report Therapeutic Drug Monitoring Market by Product (Consumables, Equipment-Immunoassay Analyzers, Chromatography & MS Detectors, Clinical Chemistry Analyzers), Technology, Class of drugs, End user and Region – Global Forecast to 2026″, published by MarketsandMarkets™, the global market is projected to reach USD 2.7 billion by 2026 from USD 1.6  billion in 2020, at a CAGR of 9.4% during the forecast period.

Browse in-depth TOC on “Therapeutic Drug Monitoring Market”

318 – Tables

42 – Figures

298 – Pages

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The growth of this market is majorly driven by the rising number of organ transplant procedures, the use of TDM across various therapeutic fields, the increasing preference for precision medicine, a growing focus on R&D related to TDM, and technological advancements in immunoassay instruments. However, the need for high capital investments and the reluctance of small hospitals to offer TDM services may restrain the growth of this market.

Consumables in the product segment to witness the highest growth during the forecast period.

Based on the product, the Therapeutic Drug Monitoring market is segmented into Consumables, Equipment-Immunoassay Analyzers, Chromatography & MS Detectors, Clinical Chemistry Analyzers. The Consumables segment is projected to grow at the highest CAGR during the forecast period. The major factors contributing to the growth of this market are the requirement of repeat purchase of kits and reagents, coupled with the increasing number of immunoassay tests being performed across the globe.

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North America dominates the global Therapeutic Drug Monitoring market

The TDM Market is segmented into four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World. In 2021, North America accounted for the largest share of the market. The large share of North America can be attributed to increasing per capita healthcare expenditure and the presence of technologically advanced healthcare infrastructure.

The major players in the Therapeutic Drug Monitoring market are 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).

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About MarketsandMarkets™ 

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Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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