Therapeutic Drug Monitoring Market

At a compound annual growth rate (CAGR) of 8.4% from 2024 to 2029, the therapeutic drug monitoring market is projected to grow from USD  2.30 billion in 2024 to USD 3.44 billion by 2029. Some of the main factors boosting the TDM market include the rise in infectious and chronic illnesses, the need for personalized medication, and the use of modern diagnostic technologies such chromatography MS and immunoassays. With the growing incidence of organ transplantation and cases of cancer, the requirement for appropriate drug dosing to achieve better therapeutic outcomes further enhanced demand.

Within the TDM market, Thermo Fisher Scientific and Roche Diagnostics invest in technological innovation with novel immunoassay platforms and integrated chromatography-MS solutions for higher test accuracy and efficiency.On the other hand, companies such as Abbott Laboratories and Roche diagnostics have implemented geographic expansion strategies in order to penetrate emerging markets in Asia Pacific, the Middle East, and Africa. These markets present enormous opportunities due to the growing healthcare infrastructure and the demand for personalized medicine. Both strategies seek to increase their market share and assist in meeting the various clinical needs.

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Some of the   prominent players operating in the market include Abbott (US), Thermo Fisher Scientific Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), Siemens Healthineers AG (Germany), Danaher Corporation (US), Bio-Rad Laboratories, Inc. (US), bioMérieux SA (France), Biosynex SA (France), Grifols, S.A. (Spain), Exagen Inc. (US), ARK Diagnostics, Inc. (US), R-Biopharm AG (Germany), and Randox Laboratories Ltd. (UK).

F. Hoffmann-La Roche Ltd. (Switzerland)

Pharmaceuticals and Diagnostics are the two primary business sectors of Roche Diagnostics, a part of F. Hoffmann-La Roche Ltd. that produces and sells diagnostic goods. Roche provides a wide range of assays, kits, and systems/analyzers for therapeutic drug monitoring under the Diagnostics business. In 2023, it invested USD 15.40 billion in R&D, compared to USD 14.90 billion in 2021. Similarly, it focuses on developing and updating its product portfolio. Its extensive portfolio of therapeutic drug monitoring instruments (including immunoassay analyzers) and wide geographic reach are the key factors contributing to its large market share.

Abbott (US)

Abbott is a well-known and established company in the market for therapeutic drug monitoring. Because of its great distribution system, it has a significant global presence and offers a wide selection of items. To keep its place in this industry, the corporation mostly uses organic methods, such new product introductions. As a result, the company has more than 100 products in its pipeline. The company also has a well-developed supply chain and distribution networks. In 2023, Abbott strategically prioritized cost efficiency by approving restructuring plans across its medical devices, diagnostics, and established pharmaceutical segments.

Thermo Fisher Scientific Inc. (US)

It is one of the leading players in the therapeutic drug monitoring market. Its Specialty Diagnostics segment offers a wide range of diagnostic test kits, reagents, culture media, instruments, and associated products for customers in healthcare, clinical, pharmaceutical, industrial, and food safety laboratories. It has a strong global distribution network, both direct and indirect, and is well-established in over 150 countries in North America, Europe, Asia, and Latin America. By acquiring related technologies and companies, Thermo Fisher continues to broaden its product line and capabilities as part of its strategic focus. On October 17, 2023, the company entered into a definitive agreement to acquire all outstanding shares of Olink Holding AB. Earlier, on January 3, 2023, it completed the acquisition of the UK-based Binding Site Group, now part of its Specialty Diagnostics division. The Binding Site Group is recognized as a key provider of innovative diagnostic assays and solutions, aimed at improving the detection and management of blood cancers and immune system disorders.

Related Reports:

Therapeutic Drug Monitoring Market by Product (Equipments,Consumables), Technology (Immunoassays), Drug Class (Anti–Epileptic Drugs,Anti–Arrhythmic Drugs), Therapeutic Area (Oncology, Cardiology), Specimen (Blood), End user - Global Forecast to 2029

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