Therapeutic Drug Monitoring Market worth 2.55 Billion USD by 2020

1. Therapeutic Drug Monitoring Market worth 2.55 Billion USD by 2020 The report "Therapeutic Drug Monitoring Market by Product (Consumables, Equipment), Technology (Immunoassays, Proteomic Technologies), Class of Drug (Antiepileptics, Antibiotics, Immunosuppressants), End User (Hospital Labs, Private Labs) - Global Forecast to 2020", The therapeutic drug monitoring market is projected to reach USD 2.55 Billion by 2020 from USD 1.78 Billion in 2015, growing at a CAGR of 7.4% during the forecast period (2015–2020). http://www.marketsandmarkets.com/Market-Reports/therapeutic-drug-monitoring-market-155350443.html This report provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the therapeutic drug monitoring market along with the estimates and forecasts of the revenue. The technological advances in tests used to monitor therapeutic drugs, increased knowledge of pharmacogenetics and pharmacokinetics of drugs, need for better healthcare in developing countries, and rising prevalence of psychiatric diseases and cancer are the major drivers for the therapeutic drug monitoring market. Adjunct technologies such as biomarker identification using proteomics to accurately identify clinical outcomes and genetic testing are expected to benefit the growth of the therapeutic drug monitoring market. However, high infrastructure costs and dearth of skilled resources may restrain the market growth. In this report, the therapeutic drug monitoring market is broadly segmented by product, technology, class of drug, end user, and region. On the basis of product, the therapeutic drug monitoring market is divided into consumables and equipment. The equipment segment is further segmented into immunoassay analyzers, proteomic equipment, and other equipment. On the basis of technology, the therapeutic drug monitoring market is categorized into three segments namely, immunoassays, proteomic technologies, and others. The immunoassays segment is classified into chemiluminescent assay (CLIA), cloned enzyme donor immunoassay (CEDIA), fluorescence polarization immunoassay (FPIA), particle-enhanced turbidimetric inhibition immunoassay (PETINIA), and others. The proteomic technologies segment is further split into liquid chromatography/mass spectrometry and gas chromatography/mass spectrometry. North America is expected to account for more than half the therapeutic drug monitoring market share in 2015. It is the prime market for therapeutic drug monitoring due to the high awareness and acceptance of the benefits of therapeutic drug monitoring and growing healthcare expenditure. The market in Europe on the other hand is growing at a slower rate as the healthcare sector is recovering from the economic downturn and healthcare facilities are trying to minimize healthcare delivery costs. Growth in the APAC therapeutic drug monitoring market is comparatively slower due to dearth of skilled healthcare personnel performing therapeutic drug monitoring tests with minimal errors. Major players in the therapeutic drug monitoring market include F. Hoffmann-La Roche AG (Switzerland), Siemens Healthcare (Germany), Thermo Fisher Scientific (U.S.), Bio-Rad Laboratories Inc. (U.S.), and Danaher Corporation (U.S.).

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