Therapeutic Drug Monitoring Market Size (2024 - 2029)

The therapeutic drug monitoring market is projected to experience significant growth over the forecast period, driven by the increasing prevalence of various diseases such as cancers, neurological conditions, HIV, autoimmune, and cardiac diseases. The market's expansion is further supported by ongoing research and development activities and clinical trials aimed at broadening the application of monitoring technologies. Despite the initial positive impact of the COVID-19 pandemic on the market, which highlighted the need for rapid and accurate diagnostic solutions, the market has faced some challenges as the pandemic subsided. Nevertheless, strategic initiatives by market players, including product launches and mergers, are expected to enhance market dynamics. However, the reluctance of healthcare providers in emerging nations to adopt these services may pose a challenge to market growth.

Market Size of Therapeutic Drug Monitoring Industry

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Therapeutic Drug Monitoring Market Summary
Study Period 2021 - 2029
Market Size (2024) USD 1.25 Billion
Market Size (2029) USD 1.94 Billion
CAGR (2024 - 2029) 9.12 %
Fastest Growing Market Asia-Pacific
Largest Market North America

Major Players

Therapeutic Drug Monitoring Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Therapeutic Drug Monitoring Market Analysis

The Therapeutic Drug Monitoring Market size is estimated at USD 1.25 billion in 2024, and is expected to reach USD 1.94 billion by 2029, growing at a CAGR of 9.12% during the forecast period (2024-2029).

Globally, the COVID-19 pandemic put enormous pressure on the healthcare system. Hospitals were understaffed and overworked. The urgent need for an accurate and rapid diagnosis of SARS-CoV-2 infection was critical as global healthcare systems continue to operate during the COVID-19 pandemic. In particular, serological and immunological testing of infected asymptomatic and symptomatic individuals was in high demand. Thus, COVID-19 impacted the market profoundly. As per the study published in Expert Review of Clinical Immunology in June 2021, enzyme-linked immunosorbent assays (ELISAs), chemiluminescent immunoassays (CLIAs), and lateral flow immunoassays (LFIAs) were the principal methodologies of serology-based tests for the detection of SARS-CoV-2.

Furthermore, according to the study titled "Rapid chromatographic immunoassay-based evaluation of COVID-19," published in February 2021, rapid chromatographic immunoassay-based test offered quick and accurate detection of COVID-19 and possessed excellent specificity and moderate sensitivity. Thus, the COVID-19 pandemic had a favorable impact on the market initially. As the pandemic has subsided, the market has lost some traction. However, it is expected to have stable growth during the forecast period of the study.

Increasing prevalence of cancers, neurological conditions, HIV, autoimmune and cardiac diseases, and growing R&D activities and clinical trials to expand the application of technologies in various indications. In August 2021, the Journal of Clinical Neurology cited epilepsy as the third most common neurological disorder after stroke and dementia, affecting approximately 70 million patients worldwide. According to WHO's 2021 data, more than 55 million people will live with dementia worldwide. Nearly 10 million new cases will be reported every year. Alzheimer's disease is the most common form of dementia and may contribute to 60-70% of the cases. Therefore, increasing chances of such diseases are anticipated to propel the market growth over the forecast period.

Moreover, various initiatives by the market players, such as product launches and mergers and acquisitions, are expected to propel the market's growth. For instance, in May 2022, THERADIAG, a company specializing in vitro diagnostics and theragnostic, reported the launch of ez-Track1, an accurate Point-of-Care Testing (POCT) solution for therapeutic drug monitoring. Such advancement in drug monitoring technology is expected to boost the market over the forecast period.

However, the reluctance of healthcare providers to implement therapeutic drug monitoring services in emerging nations is likely to hinder market growth over the forecast period.

Therapeutic Drug Monitoring Industry Segmentation

Therapeutic drug monitoring is the clinical practice of measuring the concentration of specific drugs with a narrow therapeutic index and/or their breakdown products (metabolites) at timed intervals in a patient's bloodstream. These systems help to maintain a relatively constant concentration of the drug in the blood required to show therapeutic effects and, thus, assist in assessing individual dosage regimens.

Therapeutic Drug Monitoring Market is Segmented by Technology (Immunoassays and Proteomic Technologies), Drug Class (Antiarrhythmic Drugs, Immunosuppressants, Antiepileptic Drugs, and Other Drug Classes), End-user (Hospitals, Diagnostic Centers, and Other End-users), and Geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across significant global regions. The report offers the value (in USD million) for the above segments.

By Technology
Immunoassays
Proteomic Technologies
By Drug Class
Antiarrhythmic Drugs
Immunosuppressants
Antiepileptic Drugs
Other Drug Classes
By End-user
Hospitals
Diagnostic Centres
Other End-users
By Geography
North America
United states
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
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Therapeutic Drug Monitoring Market Size Summary

The therapeutic drug monitoring market is poised for significant growth over the forecast period, driven by the increasing prevalence of chronic diseases such as cancer, neurological disorders, and cardiac conditions. The market's expansion is further supported by advancements in research and development activities, as well as clinical trials aimed at broadening the application of therapeutic monitoring technologies. The COVID-19 pandemic initially had a positive impact on the market by highlighting the importance of rapid and accurate diagnostic testing, although the market has since experienced a slight decline in momentum. Despite this, the market is expected to maintain stable growth, bolstered by technological advancements and strategic initiatives such as product launches and mergers and acquisitions by key industry players.

North America is anticipated to hold a significant share of the therapeutic drug monitoring market, driven by factors such as a well-developed healthcare infrastructure, a rising geriatric population, and increasing incidence rates of chronic and infectious diseases. The region's market growth is further supported by the presence of major market players and strategic partnerships aimed at enhancing drug monitoring solutions. The competitive landscape of the market is moderately competitive, with several prominent companies actively engaging in strategies to expand their market presence and introduce innovative products. These dynamics, coupled with ongoing technological advancements, are expected to propel the market forward, with North America leading the charge.

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Therapeutic Drug Monitoring Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increasing Prevalence of Cancers, HIV, Autoimmune, and Cardiac Diseases

      2. 1.2.2 Growing R&D Activities and Clinical Trials to Increase the Application of Technologies in Various Indications

    3. 1.3 Market Restraints

      1. 1.3.1 The Reluctance of Healthcare Providers to Implement TDM Services in Emerging Nations

    4. 1.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD Million)

    1. 2.1 By Technology

      1. 2.1.1 Immunoassays

      2. 2.1.2 Proteomic Technologies

    2. 2.2 By Drug Class

      1. 2.2.1 Antiarrhythmic Drugs

      2. 2.2.2 Immunosuppressants

      3. 2.2.3 Antiepileptic Drugs

      4. 2.2.4 Other Drug Classes

    3. 2.3 By End-user

      1. 2.3.1 Hospitals

      2. 2.3.2 Diagnostic Centres

      3. 2.3.3 Other End-users

    4. 2.4 By Geography

      1. 2.4.1 North America

        1. 2.4.1.1 United states

        2. 2.4.1.2 Canada

        3. 2.4.1.3 Mexico

      2. 2.4.2 Europe

        1. 2.4.2.1 Germany

        2. 2.4.2.2 United Kingdom

        3. 2.4.2.3 France

        4. 2.4.2.4 Italy

        5. 2.4.2.5 Spain

        6. 2.4.2.6 Rest of Europe

      3. 2.4.3 Asia-Pacific

        1. 2.4.3.1 China

        2. 2.4.3.2 Japan

        3. 2.4.3.3 India

        4. 2.4.3.4 Australia

        5. 2.4.3.5 South Korea

        6. 2.4.3.6 Rest of Asia-Pacific

      4. 2.4.4 Middle East and Africa

        1. 2.4.4.1 GCC

        2. 2.4.4.2 South Africa

        3. 2.4.4.3 Rest of Middle East and Africa

      5. 2.4.5 South America

        1. 2.4.5.1 Brazil

        2. 2.4.5.2 Argentina

        3. 2.4.5.3 Rest of South America

Therapeutic Drug Monitoring Market Size FAQs

The Therapeutic Drug Monitoring Market size is expected to reach USD 1.25 billion in 2024 and grow at a CAGR of 9.12% to reach USD 1.94 billion by 2029.

In 2024, the Therapeutic Drug Monitoring Market size is expected to reach USD 1.25 billion.

Therapeutic Drug Monitoring Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)