PUNE, India, August 22, 2018 /PRNewswire/ --
According to a new market research report "Therapeutic Drug Monitoring Market by Product (Consumable, Equipment (Immunoassay analyzer)), Technology (Fluorescence Immunoassay, Radioimmunoassay, GCMS), Class of drugs (Antibiotics, Bronchodilators), End User (Hospital Lab) - Global Forecast to 2023", published by MarketsandMarkets™, the global market is projected to reach USD 1.63 billion in 2023 from USD 1.23 billion in 2018, at a CAGR of 5.9%.
Browse 145 market data Tables and 23 Figures spread through 141 Pages and in-depth TOC on "Therapeutic Drug Monitoring Market"
Early buyers will receive 10% customization on this report
The growth of this market is majorly driven by the rising number of organ transplant procedures and the use of TDM in traditional anticancer therapies.
Based on product, the consumables segment is expected to grow at the highest CAGR during the forecast period
On the basis of product, the global Therapeutic Drug Monitoring Market is segmented into consumables and equipment. The consumables segment is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the requirement of repeat purchase of kits and reagents, coupled with the increasing number of immunoassay tests being performed across the globe as a result of the rising incidence of chronic and infectious diseases.
Based on technology, the immunoassays segment is expected to account for the largest share of the market in 2018
On the basis of technology, the global Therapeutic Drug Monitoring Market is segmented into immunoassays and chromatography-MS. The immunoassays segment is expected to account for the largest share of this market in 2018, mainly due to the increasing incidence of chronic and infectious diseases and technological innovation.
Ask for PDF Brochure: https://www.marketsandmarkets.com/pdfdownload.asp?id=155350443
Asia Pacific is expected to grow at the highest CAGR during the forecast period
The APAC market is projected to register the highest growth during the forecast period. Growth in this region can be attributed to the huge demand for better healthcare services; increasing incidence of chronic and infectious diseases; rapid development in healthcare infrastructure in developing countries such as India, China, and South Korea; growing healthcare research investments in this region; and increasing per capita income of the middle-class population.
The key players operating in the TDM market are F. Hoffmann-La Roche (Switzerland), Siemens Healthineers (Germany), and Abbott (US).
Know more about the Therapeutic Drug Monitoring Market:
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
630 Dundee Road
Northbrook, IL 60062
Connect with us on LinkedIn: http://www.linkedin.com/company/marketsandmarkets