The global therapeutic drug monitoring market to grow at a CAGR of 7.5% during the period 2017-2021.
The report covers the present scenario and the growth prospects of the global therapeutic drug monitoring market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The report also includes a discussion of the key vendors operating in this market.
One trend in the market is advent of POC tests. The emergence of POC tests for therapeutic drug monitoring will likely change the market dynamics. The financial costs associated with instrumental operation and maintenance, and the time needed for the preparation and analysis of samples for processing the results, affects the application of therapeutic drug monitoring in medical practices.
According to the report, one driver in the market is increasing demand for personalized medicine. The increasing need for personalized medicine has driven the demand for therapeutic drug monitoring. It is important to get the drug right in content and in quantity (dosage) to offer better care to individuals; however, in many cases, it is given manually by the physicians. This could affect the patient compliance. Therefore, therapeutic drug monitoring is required to find out the correct content and dosage specific to the individual.
Further, the report states that one challenge in the market is shortage of skilled technicians for performing diagnostic techniques. Shortage of skilled laboratory technicians for performing diagnostic techniques poses a challenge to the market. Although the degree of technological innovation in the diagnostic sector is high, the availability of skilled labor is still uncertain. Innovative assays and platforms improve the general working conditions by aiding repetitive and complex tasks. However, technically trained professionals are required to operate them.
F. Hoffmann-La Roche
Thermo Fisher Scientific
Other prominent vendors
Miraca Life Sciences
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Research Methodology
Part 04: Introduction
Part 05: An overview of therapeutic drug monitoring