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Therapeutic Drug Monitoring Market by Product, End-user, Drug Class, and Geography - Forecast and Analysis 2020-2024

  • Published: Dec 2020
  • Pages: 120
  • SKU: IRTNTR45573
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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

Therapeutic Drug Monitoring Market Size

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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

Therapeutic Drug Monitoring Market Market segmentation by region

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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

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Accelerate at a CAGR of 7%

Market growth 2020-2024

$ 998.81 million

Market structure

Fragmented

YoY growth (%)

7.05

Regional analysis

North America, Europe, Asia, and ROW

Performing market contribution

North America at 47%

Key consumer countries

US, Germany, UK, Canada, and China

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

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.

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,

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.

Executive Summary

    Market Landscape

    • Market ecosystem
    • Market characteristics
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2019
    • Market outlook: Forecast for 2019 - 2024

    Five Forces Analysis

    • Five forces summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Product

    • Market segments
    • Comparison by Product
    • Consumables - Market size and forecast 2019-2024
    • Equipment - Market size and forecast 2019-2024
    • Market opportunity by Product

    Market Segmentation by End-user

    • Market segments
    • Hospitals
    • Private laboratories
    • Others

    Market Segmentation by Drug Class

    • Market segments
    • Antiepileptics
    • Immunosuppressants
    • Antibiotics
    • Antiarrhythmics
    • Others

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • North America - Market size and forecast 2019-2024
      • Europe - Market size and forecast 2019-2024
      • Asia - Market size and forecast 2019-2024
      • ROW - Market size and forecast 2019-2024
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Vendor landscape
      • Landscape disruption
      • Competitive Scenario

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • 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.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
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      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
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      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
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      Therapeutic Drug Monitoring market growth will increase by $998.81 million during 2019-2024.
      The therapeutic drug monitoring market is expected to grow at a CAGR of 7.48% during 2019-2024.
      Technavio has segmented the therapeutic drug monitoring market by product (Consumables and Equipment) and geographic (North America, Europe, Asia, and ROW).
      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. are a few of the key vendors in the therapeutic drug monitoring market.
      North America will register the highest growth rate of 47.14% among the other regions. Therefore, the therapeutic drug monitoring market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the therapeutic drug monitoring market growth are:
      • Increasing demand for personalized medicine
      • Advent of POC tests
      The therapeutic drug monitoring market vendors should focus on grabbing business opportunities from the consumables segment as it accounted for the largest market share in the base year.
      • What are the key global market and the regional market share?
      • What are the revenue-generating key market segments?
      • What are the key factors driving and challenging this market’s growth?
      • Who are the key market vendors and their growth strategies?
      • What are the latest trends influencing the growth of this market?
      • What are the variables influencing the market growth in the primary regions?
      • What are the factors influencing the growth of the parent market?
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