Therapeutic Drug Monitoring Market

Abbott Laboratories (US) and Thermo Fisher Scientific (US) are Leading Players in the Therapeutic Drug Monitoring Market

The therapeutic drug monitoring market is projected to reach USD 2.0 billion by 2025 from USD 1.4 billion in 2020, at a CAGR of 6.9% from 2020 to 2025. Therapeutic drug monitoring (TDM) is used to measure the concentration of specific drugs in body fluids, which helps in the management of drug therapy for the cure, alleviation, or prevention of disease. The growth of this market is driven by rising number of organ transplant procedures, the use of TDM across various therapeutic fields, the increasing preference for precision medicine, a growing focus on R&D related to TDM, and technological advancements in immunoassay instruments.

The therapeutic drug monitoring market is a highly consolidated and is dominated by various players. The major players operating in this market are Abbott Laboratories (U.S.), F. Hoffmann-La Roche (Switzerland), Siemens Healthineers (Germany), Thermo Fisher Scientific (U.S.), Danaher Corporation (U.S.), Bio-Rad Laboratories (U.S.), bioMérieux (France), BÜHLMANN Laboratories (Switzerland), SEKISUI MEDICAL (Japan), Randox Laboratories (Ireland), DiaSystem Scandinavia AB (Sweden), Cambridge Life Sciences Limited (United Kingdom), ARK Diagnostics, Inc. (U.S.), Chromsystems Instruments & Chemicals GmbH (Germany), Grifols (Spain), Exagen Inc. (U.S.), Theradiag (France), R-Biopharm AG (Germany), apDia Group (Belgium), BioTeZ Berlin-Buch GmbH (Belgium), Eagle Biosciences Inc. (U.S.), JASEM Laboratory Systems and Solutions A.S (Turkey), Aalto Scientific (U.S.), Immundiagnostik AG (Germany), and UTAK (U.S.).

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Abbott Laboratories (US)

Abbott has a strong presence in the US and seeks to further enhance its geographical presence by strengthening its business operations in emerging and high-growth markets. The company’s extensive R&D activities for product development and ongoing clinical trials for newly developed medicines are expected to drive the growth of its market share in the coming years. In 2019, Abbott invested USD 2.4 billion in R&D activities, of which USD 533 million was invested for the development of technologically advanced diagnostic products.

Thermo Fisher Scientific (US)

Thermo Fisher Scientific accounted for the second-largest share of almost 13.5% of the global market in 2019. The company’s TDM product portfolio includes consumables such as controls and calibrators, as well as reagents. It is likely to maintain its leading position in this market, owing to its strong portfolio and frequent launches of products.

Related Reports:

Therapeutic Drug Monitoring Market by Product (Equipment (Immunoassay Analyzers), Consumables), Technology (Immunoassays, Chromatography-MS), Class of Drugs (Antibiotic Drugs, Bronchodilator Drugs), End User - Global Forecast to 2025

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Report Code
MD 4185
RI Published ON
8/25/2020
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