The Therapeutic Drug Monitoring market size is estimated to reach $2.1 billion by 2026, growing at a CAGR of 6.8% during the forecast period 2021-2026. Therapeutic drug monitoring is a test that involves the measurement of various drugs in the bloodstream. It helps to ensure the administered quantity of medicine is enough to be effective and does not cause any major side effects or reactions. Even though most drugs can be taken without the need for therapeutic drug monitoring, some types of anti-epileptics, anti-arrhythmics, immunosuppressants, antibiotics, and psychoactive drugs require monitoring to ensure safety and effectiveness. The key technologies used for therapeutic drug monitoring include immunoassays, chromatography, proteomics, and spectrophotometry. The growing global geriatric population is driving the growth of the market during the forecast period. However, the lack of trained professionals essential for the therapeutic drug monitoring process act as a major challenge for demand generation for the therapeutic drug monitoring industry.
Therapeutic Drug Monitoring Market Segment Analysis-By Technology
Based on Technology, the Therapeutic Drug Monitoring Market is segmented into Immunoassays, Chromatography, Proteomic, Spectrophotometry, and others. The Immunoassay segment is anticipated to have the largest share of the market in 2020 and is poised to dominate the market during the forecast period 2021-2026. This is attributed to the rising rate of adoption of advanced technologies in this segment, and the low complexity of training necessary to handle the equipment. Moreover, the increasing global prevalence of autoimmune disorders such as rheumatoid arthritis, multiple sclerosis, type 1 diabetes, and coeliac disease is further contributing to the growth of this segment. The proteomics segment is projected to grow the fastest at a CAGR of 7.4% owing to the rise in public and private R&D in the segment, and their increasing adoption in drug discovery, clinical research, and biomarker validation.
Therapeutic Drug Monitoring Market Segment Analysis-By Drug Class
The Therapeutic Drug Monitoring Market based on Drug Class can be further segmented into anti-epileptic, anti-arrhythmic, immunosuppressant, antibiotic, psychoactive drugs, and bronchodilator. The anti-epileptic segment accounted for the largest share of the market in 2020. Anti-epileptic drugs suppress the excessive rapid firing of neurons which helps prevent seizures. The rising global cases of epilepsy are contributing to the segment’s growth. Moreover, these drugs can also be used to treat conditions such as bipolar disorder and borderline personality disorder as they can also function as mood stabilizers. Therapeutic Drug Monitoring is essential for these drugs as excess dosage can cause severe side effects such as central nervous disfunction, cerebral edema, and coma. The antibiotic segment is also anticipated to witness significant surge with a growth rate of 7.6% during the forecast period owing to the surge in diseases like pneumonia and urinary tract infections.
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Therapeutic Drug Monitoring Market Segment Analysis-By Geography
The Therapeutic Drug Monitoring Market based on Geography can be segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. The North American segment is projected to dominate the Therapeutic Drug Monitoring market during the forecast period 2021-2026 with a market share of 32% owing to the presence of highly developed healthcare infrastructure, high per-capita healthcare expenditure, rising cases of lifestyle disorders, and growing geriatric population. Moreover, the presence of key industry players such as Thermo Fisher Scientific, Danaher Corporation, Bio-Rad Laboratories, ARK Diagnostics, and Exagen in the region ensures lower costs and more options for the end-users. However, the Asia Pacific region is predicted to register the fastest growth during the forecast period owing to the increase in disposable income, growth in public healthcare funding, and raising awareness and diagnosis of mental disorders in major emerging economies like China and India.
Therapeutic Drug Monitoring Market Drivers
Increase in Geriatric Population is Projected to Drive Market Growth
There were around 727 million persons over the age of 65 in 2020 and constituted 9.3% of the overall population. The geriatric population is predicted to reach 16% by 2050. This is anticipated to drive the market during the forecast period as the geriatric population is more at risk of bacterial infections, neurological disorders, autoimmune diseases, and respiratory conditions. For instance, the onset of diseases such as Chronic Obstructive Pulmonary Disease (COPD), adult-onset asthma, Multiple Sclerosis (MS), and Tuberculosis (TB) can increase if the patient is geriatric. Moreover, the risk of complications and drug reactions also rise significantly for the geriatric population, which makes Therapeutic Drug Monitoring essential.
The rise in Lifestyle disorders is Anticipated to Boost Product Demand
Owing to the growth in global disposable income and urbanization, more people are following a sedentary lifestyle. This is causing an increase in lifestyle diseases such as obesity, hypertension, cardiovascular disorders, and diabetes. Around 39% of the global adult population is overweight and 9.8% suffer from diabetes. Furthermore, 26% of the population suffers from hypertension and this is projected to reach 29% by 2025. This is causing an increase in the prevalence of cardiac arrhythmia as diabetes and hypertension are major risk factors for the disease. Therefore, it is driving the market for Therapeutic drug monitoring market owing to increasing Anti-arrhythmic drug usage.
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Therapeutic Drug Monitoring Market Challenges
The High Cost of Therapeutic Drug Monitoring Devices is Anticipated to Hamper Market Growth
The high equipment and training cost for therapeutic drug monitoring systems is a major challenge that is hampering growth, especially in low and middle-income countries. This is attributed to the low purchasing power of healthcare facilities in the region owing to limited public and private healthcare expenditure. For Instance, according to the World Health Organization (WHO) database, in 2018 the annual per capita healthcare expenditure in South Africa and Bangladesh was only $525.9 and $41.9 respectively. This is extremely low compared to developed countries such as the US who spent around $10623.8 per capita for the same year. This is further worsened by the lack of stringent regulations for administering medicines in the region.
Covid-19 Pandemic and Subsequent Restrictions is Projected to Limit Growth Opportunities
The rapid spread of the Covid-19 virus and the increased cases of hospitalizations have led to hospitals diverting funds and manpower from other departments including cardiology, oncology, pulmonology, neurology, and psychiatry owing to the massive straining of the sector. The low priority given to these departments may lead to postponement or cancellation of planned orders for Therapeutic Drug Monitoring systems. This is projected to restrict the growth of the market. Moreover, the fear of contracting the virus from hospitals has resulted in the cancellation of appointments by patients to these departments, which is further worsening the condition. For instance, according to the American Hospital Association (AHA), Covid-19 resulted in around $202.6 billion in lost revenue for US hospitals.
Therapeutic Drug Monitoring Market Industry Outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Therapeutic Drug Monitoring Market. The top 10 companies of the industry include:
Abbott Laboratories Inc
Hoffmann-La Roche Ltd
Siemens Healthineers Inc.
Thermo Fisher Scientific Inc.
Sekisui Medical Co
Buehlmann Laboratories AG
Bio-Rad Laboratories Inc.
Randox Laboratories Limited
In September 2021, Boditech Med announced the acquisition of the export licenses for Therapeutic Drug Monitoring products called AFIAS Free Anti-Infliximab and AFIAS Free Anti-Trastuzumab. These products are used to monitor Anti-Drug Antibody (ADA) which can inhibit the performance of therapeutic antibody drugs.
In December 2019, THERADIAG announced that it has strengthened its international presence by signing 3 new strategic distributors in China, Hong Kong-Macao and Taiwan, to distribute its main TRACKER range biotherapy monitoring tests. TRACKER consists of a unique Therapeutic drug monitoring menu with 12 different kits available for drug and anti-drug antibodies.
Geographically, the North American Therapeutic Drug Monitoring market accounted for the largest share in 2020 owing to the presence of well-developed healthcare infrastructure and the presence of key industry leaders in the region.
An increase in the cases of cardiovascular disorders and strokes is driving the demand for Therapeutic Drug Monitoring. However, the high cost of the devices is predicted to hamper growth opportunities, especially in developing regions.
Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Therapeutic Drug Monitoring Market Report.
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