The global therapeutic drug monitoring market is expected to reach over USD 3.37 billion by 2024, according to a new report by Grand View Research, Inc. Recent technological advancements in the Point-of-Care (PoC) devices hold considerable transformative promises for the personalized predictive and preventive medicine. Therapeutic Drug Monitoring (TDM) forms a foundational part to the devising of personalized treatment plans for patients; and the advent of PoC diagnostic devices that yield quantitative measurements of the drug concentration plays a pivotal role in supporting the development of the precision medicine field in the healthcare sector. However, the broad application of the PoC devices for patient monitoring is still lagging behind. The presence of this untapped opportunity is one of the high impact rendering drivers for the market growth.
The employment of continuous therapeutic drug and metabolite monitoring in the early phase of the medication regimen, administered post-organ transplantation, forms a major application in the areas of critical care medicine and organ transplantation, which is expected to propel the growth of the therapeutic drug monitoring market over the forecast period. In addition, the imposing burden of diseases, such as epilepsy and cancer, the rising government initiatives, and the presence of high-unmet needs are some of the crucial determinants expected to further favor the emergence of this market.
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U.S. therapeutic drug monitoring market, by product, 2013 – 2024 (USD Million)
Further key findings from the study suggest:
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Grand View Research has segmented the therapeutic drug monitoring market on the basis of product, technology, application, end-use, and region:
Therapeutic Drug Monitoring Market, Product Outlook, by Revenue (USD Million, 2013 – 2024)
Therapeutic Drug Monitoring Market, Technology Outlook, by Revenue (USD Million, 2013 – 2024)
Therapeutic Drug Monitoring Market Drug, Class Outlook, by Revenue (USD Million, 2013 – 2024)
Therapeutic Drug Monitoring Market, End-use Outlook, by Revenue (USD Million, 2013 – 2024)
Therapeutic Drug Monitoring Market, Regional Outlook, by Revenue (USD Million, 2013 – 2024)
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