The therapeutic drug monitoring market size has the potential to grow by USD 998.81 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by product (consumables and equipment), end-user (hospitals, private laboratories, and others), drug class (antiepileptics, immunosuppressants, antibiotics, antiarrhythmics, and others), and geography (Asia, Europe, North America, and ROW). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Abbott Laboratories, bioMérieux SA, Bio-Rad Laboratories Inc., Danaher Corp., F. Hoffmann-La Roche Ltd., Grifols SA, Merck KGaA, Sekisui Chemical Co. Ltd., Siemens Healthineers AG, and Thermo Fisher Scientific Inc.
Market Overview
Browse TOC and LoE with selected illustrations and example pages of Therapeutic Drug Monitoring Market
Market Competitive Analysis
The therapeutic drug monitoring market is fragmented. Abbott Laboratories, bioMérieux SA, and Bio-Rad Laboratories Inc. are some of the major market participants. Factors such as increasing demand for personalized medicine, an increase in funding from government and private enterprises, and growing demand for the effective treatment of chronic disorders will offer immense growth opportunities. However, a shortage of skilled technicians for performing diagnostic techniques, lack of standardization of various devices, and stringent government regulations coupled with product recalls may impede market growth. To make the most of the opportunities, vendors should focus on growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this therapeutic drug monitoring market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this therapeutic drug monitoring market analysis report provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
- Abbott Laboratories
- bioMérieux SA
- Bio-Rad Laboratories Inc.
- Danaher Corp.
- F. Hoffmann-La Roche Ltd.
- Grifols SA
- Merck KGaA
- Sekisui Chemical Co. Ltd.
- Siemens Healthineers AG
- Thermo Fisher Scientific Inc.
Therapeutic Drug Monitoring Market: Segmentation by Geography
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The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. North America will offer several growth opportunities to market vendors during the forecast period. The advent of POC tests, advancements in technologies, and growing focus toward the development of novel therapeutic drug monitoring tools for new indications will significantly influence therapeutic drug monitoring market growth in this region.
47% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for therapeutic drug monitoring in North America. This report provides an accurate prediction of the contribution of all segments to the growth of the therapeutic drug monitoring market size.
Therapeutic Drug Monitoring Market: Key Highlights of the Report for 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will therapeutic drug monitoring market growth during the next five years
- Precise estimation of the therapeutic drug monitoring market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the therapeutic drug monitoring industry across Asia, Europe, North America, and ROW
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of therapeutic drug monitoring market vendors
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Therapeutic Drug Monitoring Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2019 |
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Forecast period |
2020-2024 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7% |
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Market growth 2020-2024 |
$ 998.81 million |
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Market structure |
Fragmented |
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YoY growth (%) |
7.05 |
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Regional analysis |
North America, Europe, Asia, and ROW |
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Performing market contribution |
North America at 47% |
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Key consumer countries |
US, Germany, UK, Canada, and China |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
Abbott Laboratories, bioMérieux SA, Bio-Rad Laboratories Inc., Danaher Corp., F. Hoffmann-La Roche Ltd., Grifols SA, Merck KGaA, Sekisui Chemical Co. Ltd., Siemens Healthineers AG, and Thermo Fisher Scientific Inc. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |