HOME Research Insight Product Launches and Approvals are the Key Growth Strategies Adopted by Market Players in the Therapeutic Drug Monitoring Market

Product Launches and Approvals are the Key Growth Strategies Adopted by Market Players in the Therapeutic Drug Monitoring Market

The major players operating in the global therapeutic drug monitoring market are F. Hoffmann-La Roche (Switzerland), Siemens Healthineers (Germany), and Abbott Laboratories (US). The TDM market is expected to reach USD 1.63 billion by 2023 from USD 1.23 billion in 2018, at a CAGR of 5.9% during the forecast period. 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.

F. Hoffmann-La Roche was the leading player in the TDM market in 2017. The company’s dominant position in the market is attributed to its broad product portfolio, which includes TDM assays, clinical chemistry, and immunochemistry analyzers. Under its flagship brand, Cobas, the company offers a variety of TDM instruments, reagents, and kits that are widely used by end users across the globe. The company also has a strong geographic presence, spanning North America, Europe, the Middle East and Africa, and Asia. Roche mainly focuses on product launches to maintain its leadership position in the market. For example, in the last three years, the company has launched Elecsys Sirolimus and Everolimus immunosuppressive drug assays for TDM.

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Abbott Laboratories held the second position in the TDM market in 2017. Abbott has a strong presence in the US and seeks to further enhance its geographical presence by strengthening its business operations in emerging high-growth markets. The company’s extensive research and development activities for product development and on-going clinical trials for newly developed medicines are expected to drive the growth of its market share in the coming years. In 2017, Abbott invested 8.2% of the total revenue in research and development activities for the development of technologically advanced diagnostics products.

Some other leading players in the global TDM market are Thermo Fisher Scientific (US), Danaher (US), bioMerieux (France), Bio-Rad Laboratories (US), BÜHLMANN Laboratories (Switzerland), SEKISUI MEDICAL (Japan), and Randox Laboratories (Ireland). These companies focus on product launches, approvals, and acquisitions to maintain their strong position in the market in the coming years.

Related Reports:

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

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