Growth Opportunities in Therapeutic Drug Monitoring Market Therapeutic Drug Monitoring Market

Therapeutic Drug Monitoring Market by Product (Consumable, Equipment
(Immunoassay analyzer)), Technology (Fluorescence Immunoassay,
Radioimmunoassay, GCMS), Class of drugs (Antibiotics, Bronchodilators), End
User (Hospital Lab) - Global Forecast to 2023
The Research Report on Therapeutic Drug Monitoring Market, By Considering useful aspects
like; Application, Product, End Users- Global Future Forecast till 2023, published by
MarketsandMarkets™, the report studies Market Insights and Growth opportunities For the
global Therapeutic Drug Monitoring market over the forecast period to 2023.
The Therapeutic Drug Monitoring Market is projected to reach USD 1.63 Billion by 2023 at a
CAGR of 5.9%.
The Therapeutic Drug Monitoring Market has been categorized based on product, class of
drugs, technology, end user, and region.
On the basis of technology, the therapeutic drug monitoring market is segmented into
immunoassay and chromatography & MS. In 2018, the immunoassay segment is expected to
account for the largest share of the therapeutic drug monitoring market. The large share of this
segment is mainly due to the increasing incidence of chronic and infectious diseases and
technological innovation.
On the basis of end user, the therapeutic drug monitoring market is divided into hospital
laboratories, commercial/private laboratories, and other end users. Hospital laboratories is
expected to account for the largest share of the therapeutic drug monitoring market. The large
share of this segment is attributed to the fact that most diagnostic tests are performed in
hospitals or hospital-attached laboratories as they have the appropriate equipment as well as
skilled staff to deliver clinically meaningful interpretations from TDM assays.
In 2018, North America is expected to account for the largest share of the global therapeutic
drug monitoring market, while Asia Pacific is expected to grow at the highest rate during the
forecast period. The dominant share of the North American market is attributed to its well-
established pharmaceutical industry, the presence of leading pharmaceutical and
biotechnology companies, favorable government funding, and high R&D investments in this
region.
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