The global therapeutic drug monitoring market is projected to reach USD 2.9 billion by 2027 from USD 1.8 billion in 2022, at a CAGR of 9.6% during the forecast period. The growth of this market is majorly driven by the rising number of organ transplant procedures, the use of TDM across various therapeutic fields. However, the need for high capital investments may restrain the growth of this market.
The Therapeutic Drug Monitoring market is highly consolidated and is dominated by various players. The major players operating in this market are Abbott (US), Thermo Fisher Scientific (US), F. Hoffmann-La Roche Ltd. (Switzerland), Siemens Healthineers AG (Germany), Danaher Corporation (US), Bio-Rad Laboratories (US), bioMérieux SA (France), Theradiag SA (France), Grifols S.A. (Spain), Exagen Inc. (US), R-Biopharm AG (Germany), ARK Diagnostics, Inc. (US), apDia Group (Belgium), Immundiagnostik AG (Germany), and Sekisui Medical Co. Ltd. (Japan).
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Abbott accounted for the largest share of 15–17% of the TDM market in 2021. Abbott is a well-established and prominent player in the TDM market. It offers a wide range of products in the market and has a strong global presence, mainly due to its excellent distribution channel. The company also has a well-developed supply chain and distribution networks. Extensive R&D activity and clinical trials for newly developed medicines are expected to drive its market share in the coming years. The company has a strong R&D expenditure and portfolio of FDA-approved and CE Mark-certified products, which has helped enhance its presence in the TDM market. In 2021, it invested USD 2.7 billion in R&D.
Siemens Healthineers AG
Siemens accounted for the largest share of 11–13% of the TDM market in 2021. Siemens Healthineers is one of the leading players in the TDM market. Its broad portfolio of TDM systems (including immunoassay, integrated chemistry, clinical chemistry, and drug testing), along with its vast geographic reach, accounts for its strong presence in the market. Siemens Healthineers also focuses on R&D to develop innovative and advanced products in the immunoassays and TDM market. For instance, the company invested USD 1,731.45 million in its R&D in 2022. It has a strong network of R&D sites globally that help the company cater to the needs of local markets.
Thermo Fisher Scientific
Thermo Fisher Scientific accounted for 10–12% of the TDM market in 2021. It is one of the leading players in the TDM market. The company has an extensive product portfolio based on various technologies. It has a strong presence in more than 150 countries across North America, Europe, Asia, and Latin America and has a substantial direct and indirect distribution network across the globe. The company invested USD 1.4 billion in R&D activities in 2021 (4% of the total revenue). Thermo Fisher’s extensive R&D enables the company to enhance its technology, software, and services capabilities. A significant focus on R&D activities also helps the company provide innovative products and maintain and improve its competitive position.
Therapeutic Drug Monitoring Market by Product (Consumables, Equipment-Immunoassay Analyzers, Chromatography & MS Detectors, Clinical Chemistry Analyzers), Technology, Class of drugs, End user and Region - Global Forecast to 2027
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