The technological advances in tests used to monitor therapeutic drugs, increased knowledge of pharmacogenetics and pharmacokinetics of drugs, need for better healthcare in developing countries, and rising prevalence of psychiatric diseases and cancer are the major drivers for the therapeutic drug monitoring market. Adjunct technologies such as biomarker identification using proteomics to accurately identify clinical outcome and genetic testing are expected to benefit the growth of the market.
Complete report on Therapeutic Drug Monitoring Market spread across 194 pages, Profiling 11 Companies and supported with 174 Tables and 46 Figures is now available at http://www.reportsnreports.com/reports/518327-therapeutic-drug-monitoring-market-by-product-consumables-equipment-technology-immunoassays-proteomic-technologies-class-of-drug-antiepileptics-antibiotics-immunosuppressants-end-user-hospital-labs-private-labs-global-forecast-to-2020.html .
The therapeutic drug monitoring market is broadly segmented by product, technology, class of drug, end user, and region. On the basis of product, the market is segmented into consumables and equipment. The equipment market is further segmented into immunoassay analyzers, proteomic equipment, and other equipment.
1 Advances in Drug Pharmacokinetics and Pharmacogenetics to Increase the Demand for Therapeutics Drug Monitoring
2 Use of TDM in Traditional Anticancer Therapies
1 Lack of Financial Provision for Clinical Interpretation of TDM Results
1 Enabling Personalized Medicine Via Therapeutic Drug Monitoring While Reducing Healthcare Costs
1 Dearth of Skilled Professionals to Perform Tests and Interpret Results
The consumables segment is expected to account for nearly two-thirds of the global market. The immunoassay analyzers segment is expected to be the fastest-growing segment in its equipment market. Comparatively low costs of immunoassay analyzers and their ease of use are the primary factors driving the market growth in this segment.
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North America is expected to account for more than half the therapeutic drug monitoring market share in 2015. It is the prime market for therapeutics drug monitoring due to the high awareness and acceptance of the benefits of therapeutic drug monitoring and growing healthcare expenditure.
Major players in the therapeutic drug monitoring market include F. Hoffmann-La Roche AG (Switzerland), Siemens Healthcare (Germany), Thermo Fisher Scientific (U.S.), Bio-Rad Laboratories Inc. (U.S.), and Danaher Corporation (U.S.).
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The market in Europe on the other hand is growing at a slower rate as the healthcare sector is recovering from the economic downturn and the healthcare facilities are trying to minimize healthcare delivery costs. Growth in the APAC therapeutic drug monitoring market is comparatively slower due to the dearth of skilled healthcare personnel for performing therapeutic drug monitoring tests with minimal errors.
The competitive landscape covers the various strategies adopted by industry players to maintain their position in the therapeutic drug monitoring market. The company profiles comprise the basic views on the key players in the therapeutic drug monitoring market and the product portfolios, developments, and strategies adopted by market players to maintain and increase their market shares.
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