Therapeutic Drug Monitoring Market Key Findings and Share by 2031
The Therapeutic Drug Monitoring Market is expected to register a CAGR of 9.0% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Product (Equipment and Consumables). The report further presents analysis based on the Technology (Immunoassays, Chromatography-MS, Radioimmunoassays, and Others). The report is segmented by Drug Class (Antibiotic Drugs, Antiepileptic Drugs, Antiarrhythmic Drugs, Bronchodilator Drugs, Immunosuppressant Drugs, Psychoactive Drugs, Anti-cancer Drugs, and Other Drugs). The report further presents analysis based on the End User (Hospital Laboratories, Private Laboratories, and Other Laboratories). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Therapeutic Drug Monitoring Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Therapeutic Drug Monitoring Market Segmentation
Product- Equipment and Consumables
- Immunoassays
- Chromatography-MS
- Radioimmunoassays
- Others
- Antibiotic Drugs
- Antiepileptic Drugs
- Antiarrhythmic Drugs
- Bronchodilator Drugs
- Immunosuppressant Drugs
- Psychoactive Drugs
- Anti-cancer Drugs
- Other Drugs
- Hospital Laboratories
- Private Laboratories
- Other Laboratories
- Hospital Laboratories
- Private Laboratories
- Other Laboratories
Strategic Insights
Therapeutic Drug Monitoring Market Growth Drivers- Rising Prevalence of Chronic Diseases: The high prevalence of chronic diseases pervasively affects the TDM market due to the rather exorbitant demand for medication therapy. In diabetes and hypertension, precise dosing of drugs should be observed so that minimum side effects can be achieved while maintaining efficacy. More patients are now maintained on long-term pharmacotherapy and therefore are under TDM, wherein drug levels, dosage adjustment, and prevention of adverse effects need to be observed. In this respect, therefore, such an issue would encourage health providers to introduce the TDM concept; hence, further market growth would be enhanced, and quality patient care would be achieved through customized therapies.
- Growth in Personalized Medicine: The increasing demand for personalized medicine-the point where the selection of treatments is tailored to individual patient characteristics such as genetics and disease profile-is a major growth driver for the TDM market. Such therapy is rich in benefits both in terms of efficacy and safety of drugs, and thus TDM is very much essential for real-time adjustment of dosing and therapeutic levels. As most biologics and targeted therapies are being integrated into the clinical setting, only the demand for this technology will see an upward trend. The trend of personalized medicine is growing, and this trend propels healthcare to a more personalized form, which further encourages the demand for advanced TDM solutions for improving the outcomes related to patients.
- Regulatory Support: The regulatory supports in the therapeutic drug monitoring market are based on guidelines and frameworks that encourage the adoption of TDM practices in clinical settings. Agencies such as FDA and EMA provide recommendations on the use of TDM for particular medications, especially those with a narrow therapeutic index. That creates a feeling of safety and efficacy in treatments and fosters trust among the healthcare providers and patients. With policies trending towards personalized treatment and patient protection, TDM is more regarded as an essential element of safe pharmacotherapy, which in turn prompts the expansion and implementation of TDM across various health care systems.
- Shift Toward Remote Monitoring: Remote monitoring is one development that has drastically changed the therapeutic drug monitoring (TDM) market as it has enabled constant care and data collection outside a traditional hospital and clinic setting. The scenario during the COVID-19 pandemic pushed this trend further to enable in real time the monitoring of levels of drugs and responses to therapy by healthcare providers to enhance patients' engagement and adherence. Consequently, the risk of adverse effects is always lurking due to remote monitoring technologies, which enable proactive adjustments of the medication regimen in response to the changes that are seen through wearable devices and telehealth platforms. As patients decide on receiving their health care services wherever they feel convenience and flexibility, then surely the TDM practice is destined to grow markets and help improve general treatment outcomes.
- Artificial Intelligence and Data Analytics: Because of artificial intelligence and data analytics, the TDM market is dramatically changing, being optimized in terms of improving the precision and effectiveness of medicament management. Predictions of patterns and responses to therapy would be possible with AI algorithms analyzing large patient data that can help in the design of highly specific treatment programs. With the use of advanced analytics software, health care providers would be able to provide patients with optimized dosing regimens along with predictions about potential adverse effects. Furthermore, by using AI, laboratory results interpretation will be automated, ensuring faster and more reliable TDM processes. The applications of AI and data analytics are likely to fuel innovation in the TDM market strongly.
- Focus on Pharmacogenomics: The movement for pharmacogenomics has, in fact, been influencing the market of TDM for the past few years as it applied drugs in a very differentiated and effective way. With the determination of genetic differences either in the metabolism of drugs or in drug response, appropriate doses or therapy can be decided and thereby minimizing adverse effects while maximizing efficacy. This integration into TDM supports healthcare providers in their decision, guided by the determination of genetic profiles, so that the therapy, diagnosis, or preventive measure can lead to optimal outcomes. Since there is a growing awareness of pharmacogenomics and easier availability of pharmacogenetic testing, its incorporation into TDM will increase, translating to market growth and ensuring effective improvement in the care of patients.
- Point-of-Care Testing: Point-of-care testing is transforming the therapeutic drug monitoring market by providing immediate, on-site testing capabilities that improve the care of a patient. POCT empowers the healthcare provider to measure drug levels and monitor therapeutic responses within a surprisingly short time to support timely clinical decisions without the necessity for centralized laboratory testing. When it comes to high-complexity medications, this immediacy is undeniably invaluable in optimizing dosing while minimizing adverse effects. With advancing technology, the development of portable user-friendly devices for TDM is expected to increase access significantly more in outpatient and remote settings. Decentralized healthcare is an ever-growing trend in favor of POCT in TDM as it fuels the market.
- Integration of TDM with Digital Health: The integration of TDM with digital health technologies is quite instrumental in revolutionizing patient care by improving adherence to and monitoring of medication. Through mobile apps and telehealth services, it is possible to collect and analyze data at the right time, thus providing health service providers with timely input based on information that is unique to patients to adjust treatment plans immediately. TDM combined with digital health technologies improves patient-provider communication for more personalized and proactive management of drug therapies. In addition to this, patient vitals and drug responses could be monitored while working on the efficacy of TDM with the help of wearable devices. Such synergy of digital health and TDM will go a long way in driving innovation, optimizing patient outcomes, and increasing access to effective medication management.
- Emerging Markets: Recently, the emerging markets have also promised good growth opportunities for the TDM market in recent times, with increased healthcare investments and growing awareness of the concept of personalized medicine. With regions still boosting their health infrastructure and taking advantage of highly advanced diagnostic technologies, there is enormous scope for growth in TDM services. At present, rising prevalence of chronic diseases and developing pharmaceutical sectors work in favor of growing demands for effective drug monitoring. Companies going into these markets can capitalize on the new demand for individualized therapeutic management approaches and partner with local healthcare providers to further enhance the implementation of TDM and ensure good patient outcomes.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Therapeutic Drug Monitoring Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Therapeutic Drug Monitoring Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Consumables segment, by product, dominated the market in 2023.
Players operating in the market are Abbott Laboratories, Agilent Technologies, Inc., Bio-Rad Laboratories, bioMerieux SA, Bühlmann Laboratories AG, Danaher Corporation, F. Hoffmann-La Roche Ltd, and Randox Laboratories Ltd.
North America region dominated the Therapeutic Drug Monitoring market in 2023.
Point-of-Care Testing act as a opportunity for growth of the market in forecast period.
The Therapeutic Drug Monitoring Market is estimated to witness a CAGR of 9.0% from 2023 to 2031
The major factors driving the Therapeutic Drug Monitoring market are:
1. Rising Prevalence of Chronic Diseases.
2.Growth in Personalized Medicine
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Therapeutic Drug Monitoring Market - By Product
1.3.2 Therapeutic Drug Monitoring Market - By Technology
1.3.3 Therapeutic Drug Monitoring Market - By Drug class
1.3.4 Therapeutic Drug Monitoring Market - By End User
1.3.5 Therapeutic Drug Monitoring Market - By Region
1.3.5.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. THERAPEUTIC DRUG MONITORING MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.2.6 Rest of the World - Pest Analysis
4.3. EXPERT OPINIONS
5. THERAPEUTIC DRUG MONITORING MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. THERAPEUTIC DRUG MONITORING MARKET - GLOBAL MARKET ANALYSIS
6.1. THERAPEUTIC DRUG MONITORING - GLOBAL MARKET OVERVIEW
6.2. THERAPEUTIC DRUG MONITORING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. THERAPEUTIC DRUG MONITORING MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. EQUIPMENT
7.3.1. Overview
7.3.2. Equipment Market Forecast and Analysis
7.4. CONSUMABLES
7.4.1. Overview
7.4.2. Consumables Market Forecast and Analysis
8. THERAPEUTIC DRUG MONITORING MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
8.1. OVERVIEW
8.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
8.3. IMMUNOASSAYS
8.3.1. Overview
8.3.2. Immunoassays Market Forecast and Analysis
8.4. CHROMATOGRAPHY-MS
8.4.1. Overview
8.4.2. Chromatography-MS Market Forecast and Analysis
8.5. RADIOIMMUNOASSAYS
8.5.1. Overview
8.5.2. Radioimmunoassays Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. THERAPEUTIC DRUG MONITORING MARKET - REVENUE AND FORECASTS TO 2028 - DRUG CLASS
9.1. OVERVIEW
9.2. DRUG CLASS MARKET FORECASTS AND ANALYSIS
9.3. ANTIBIOTIC DRUGS
9.3.1. Overview
9.3.2. Antibiotic drugs Market Forecast and Analysis
9.4. ANTIEPILEPTIC DRUGS
9.4.1. Overview
9.4.2. Antiepileptic Drugs Market Forecast and Analysis
9.5. ANTIARRHYTHMIC DRUGS
9.5.1. Overview
9.5.2. Antiarrhythmic Drugs Market Forecast and Analysis
9.6. BRONCHODILATOR DRUGS
9.6.1. Overview
9.6.2. Bronchodilator Drugs Market Forecast and Analysis
9.7. IMMUNOSUPPRESSANT DRUGS
9.7.1. Overview
9.7.2. Immunosuppressant Drugs Market Forecast and Analysis
9.8. PSYCHOACTIVE DRUGS
9.8.1. Overview
9.8.2. Psychoactive Drugs Market Forecast and Analysis
9.9. ANTI-CANCER DRUGS
9.9.1. Overview
9.9.2. Anti-cancer drugs Market Forecast and Analysis
9.10. OTHER DRUGS
9.10.1. Overview
9.10.2. Other drugs Market Forecast and Analysis
10. THERAPEUTIC DRUG MONITORING MARKET - REVENUE AND FORECASTS TO 2028 - END USER
10.1. OVERVIEW
10.2. END USER MARKET FORECASTS AND ANALYSIS
10.3. HOSPITAL LABORATORIES
10.3.1. Overview
10.3.2. Hospital laboratories Market Forecast and Analysis
10.4. PRIVATE LABORATORIES
10.4.1. Overview
10.4.2. Private laboratories Market Forecast and Analysis
10.5. OTHER LABORATORIES
10.5.1. Overview
10.5.2. Other laboratories Market Forecast and Analysis
11. THERAPEUTIC DRUG MONITORING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Therapeutic Drug Monitoring Market Overview
11.1.2 North America Therapeutic Drug Monitoring Market Forecasts and Analysis
11.1.3 North America Therapeutic Drug Monitoring Market Forecasts and Analysis - By Product
11.1.4 North America Therapeutic Drug Monitoring Market Forecasts and Analysis - By Technology
11.1.5 North America Therapeutic Drug Monitoring Market Forecasts and Analysis - By Drug class
11.1.6 North America Therapeutic Drug Monitoring Market Forecasts and Analysis - By End User
11.1.7 North America Therapeutic Drug Monitoring Market Forecasts and Analysis - By Countries
11.1.7.1 United States Therapeutic Drug Monitoring Market
11.1.7.1.1 United States Therapeutic Drug Monitoring Market by Product
11.1.7.1.2 United States Therapeutic Drug Monitoring Market by Technology
11.1.7.1.3 United States Therapeutic Drug Monitoring Market by Drug class
11.1.7.1.4 United States Therapeutic Drug Monitoring Market by End User
11.1.7.2 Canada Therapeutic Drug Monitoring Market
11.1.7.2.1 Canada Therapeutic Drug Monitoring Market by Product
11.1.7.2.2 Canada Therapeutic Drug Monitoring Market by Technology
11.1.7.2.3 Canada Therapeutic Drug Monitoring Market by Drug class
11.1.7.2.4 Canada Therapeutic Drug Monitoring Market by End User
11.1.7.3 Mexico Therapeutic Drug Monitoring Market
11.1.7.3.1 Mexico Therapeutic Drug Monitoring Market by Product
11.1.7.3.2 Mexico Therapeutic Drug Monitoring Market by Technology
11.1.7.3.3 Mexico Therapeutic Drug Monitoring Market by Drug class
11.1.7.3.4 Mexico Therapeutic Drug Monitoring Market by End User
11.2. EUROPE
11.2.1 Europe Therapeutic Drug Monitoring Market Overview
11.2.2 Europe Therapeutic Drug Monitoring Market Forecasts and Analysis
11.2.3 Europe Therapeutic Drug Monitoring Market Forecasts and Analysis - By Product
11.2.4 Europe Therapeutic Drug Monitoring Market Forecasts and Analysis - By Technology
11.2.5 Europe Therapeutic Drug Monitoring Market Forecasts and Analysis - By Drug class
11.2.6 Europe Therapeutic Drug Monitoring Market Forecasts and Analysis - By End User
11.2.7 Europe Therapeutic Drug Monitoring Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Therapeutic Drug Monitoring Market
11.2.7.1.1 Germany Therapeutic Drug Monitoring Market by Product
11.2.7.1.2 Germany Therapeutic Drug Monitoring Market by Technology
11.2.7.1.3 Germany Therapeutic Drug Monitoring Market by Drug class
11.2.7.1.4 Germany Therapeutic Drug Monitoring Market by End User
11.2.7.2 France Therapeutic Drug Monitoring Market
11.2.7.2.1 France Therapeutic Drug Monitoring Market by Product
11.2.7.2.2 France Therapeutic Drug Monitoring Market by Technology
11.2.7.2.3 France Therapeutic Drug Monitoring Market by Drug class
11.2.7.2.4 France Therapeutic Drug Monitoring Market by End User
11.2.7.3 Italy Therapeutic Drug Monitoring Market
11.2.7.3.1 Italy Therapeutic Drug Monitoring Market by Product
11.2.7.3.2 Italy Therapeutic Drug Monitoring Market by Technology
11.2.7.3.3 Italy Therapeutic Drug Monitoring Market by Drug class
11.2.7.3.4 Italy Therapeutic Drug Monitoring Market by End User
11.2.7.4 Spain Therapeutic Drug Monitoring Market
11.2.7.4.1 Spain Therapeutic Drug Monitoring Market by Product
11.2.7.4.2 Spain Therapeutic Drug Monitoring Market by Technology
11.2.7.4.3 Spain Therapeutic Drug Monitoring Market by Drug class
11.2.7.4.4 Spain Therapeutic Drug Monitoring Market by End User
11.2.7.5 United Kingdom Therapeutic Drug Monitoring Market
11.2.7.5.1 United Kingdom Therapeutic Drug Monitoring Market by Product
11.2.7.5.2 United Kingdom Therapeutic Drug Monitoring Market by Technology
11.2.7.5.3 United Kingdom Therapeutic Drug Monitoring Market by Drug class
11.2.7.5.4 United Kingdom Therapeutic Drug Monitoring Market by End User
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Therapeutic Drug Monitoring Market Overview
11.3.2 Asia-Pacific Therapeutic Drug Monitoring Market Forecasts and Analysis
11.3.3 Asia-Pacific Therapeutic Drug Monitoring Market Forecasts and Analysis - By Product
11.3.4 Asia-Pacific Therapeutic Drug Monitoring Market Forecasts and Analysis - By Technology
11.3.5 Asia-Pacific Therapeutic Drug Monitoring Market Forecasts and Analysis - By Drug class
11.3.6 Asia-Pacific Therapeutic Drug Monitoring Market Forecasts and Analysis - By End User
11.3.7 Asia-Pacific Therapeutic Drug Monitoring Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Therapeutic Drug Monitoring Market
11.3.7.1.1 Australia Therapeutic Drug Monitoring Market by Product
11.3.7.1.2 Australia Therapeutic Drug Monitoring Market by Technology
11.3.7.1.3 Australia Therapeutic Drug Monitoring Market by Drug class
11.3.7.1.4 Australia Therapeutic Drug Monitoring Market by End User
11.3.7.2 China Therapeutic Drug Monitoring Market
11.3.7.2.1 China Therapeutic Drug Monitoring Market by Product
11.3.7.2.2 China Therapeutic Drug Monitoring Market by Technology
11.3.7.2.3 China Therapeutic Drug Monitoring Market by Drug class
11.3.7.2.4 China Therapeutic Drug Monitoring Market by End User
11.3.7.3 India Therapeutic Drug Monitoring Market
11.3.7.3.1 India Therapeutic Drug Monitoring Market by Product
11.3.7.3.2 India Therapeutic Drug Monitoring Market by Technology
11.3.7.3.3 India Therapeutic Drug Monitoring Market by Drug class
11.3.7.3.4 India Therapeutic Drug Monitoring Market by End User
11.3.7.4 Japan Therapeutic Drug Monitoring Market
11.3.7.4.1 Japan Therapeutic Drug Monitoring Market by Product
11.3.7.4.2 Japan Therapeutic Drug Monitoring Market by Technology
11.3.7.4.3 Japan Therapeutic Drug Monitoring Market by Drug class
11.3.7.4.4 Japan Therapeutic Drug Monitoring Market by End User
11.3.7.5 South Korea Therapeutic Drug Monitoring Market
11.3.7.5.1 South Korea Therapeutic Drug Monitoring Market by Product
11.3.7.5.2 South Korea Therapeutic Drug Monitoring Market by Technology
11.3.7.5.3 South Korea Therapeutic Drug Monitoring Market by Drug class
11.3.7.5.4 South Korea Therapeutic Drug Monitoring Market by End User
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Therapeutic Drug Monitoring Market Overview
11.4.2 Middle East and Africa Therapeutic Drug Monitoring Market Forecasts and Analysis
11.4.3 Middle East and Africa Therapeutic Drug Monitoring Market Forecasts and Analysis - By Product
11.4.4 Middle East and Africa Therapeutic Drug Monitoring Market Forecasts and Analysis - By Technology
11.4.5 Middle East and Africa Therapeutic Drug Monitoring Market Forecasts and Analysis - By Drug class
11.4.6 Middle East and Africa Therapeutic Drug Monitoring Market Forecasts and Analysis - By End User
11.4.7 Middle East and Africa Therapeutic Drug Monitoring Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Therapeutic Drug Monitoring Market
11.4.7.1.1 South Africa Therapeutic Drug Monitoring Market by Product
11.4.7.1.2 South Africa Therapeutic Drug Monitoring Market by Technology
11.4.7.1.3 South Africa Therapeutic Drug Monitoring Market by Drug class
11.4.7.1.4 South Africa Therapeutic Drug Monitoring Market by End User
11.4.7.2 Saudi Arabia Therapeutic Drug Monitoring Market
11.4.7.2.1 Saudi Arabia Therapeutic Drug Monitoring Market by Product
11.4.7.2.2 Saudi Arabia Therapeutic Drug Monitoring Market by Technology
11.4.7.2.3 Saudi Arabia Therapeutic Drug Monitoring Market by Drug class
11.4.7.2.4 Saudi Arabia Therapeutic Drug Monitoring Market by End User
11.4.7.3 U.A.E Therapeutic Drug Monitoring Market
11.4.7.3.1 U.A.E Therapeutic Drug Monitoring Market by Product
11.4.7.3.2 U.A.E Therapeutic Drug Monitoring Market by Technology
11.4.7.3.3 U.A.E Therapeutic Drug Monitoring Market by Drug class
11.4.7.3.4 U.A.E Therapeutic Drug Monitoring Market by End User
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Therapeutic Drug Monitoring Market Overview
11.5.2 South and Central America Therapeutic Drug Monitoring Market Forecasts and Analysis
11.5.3 South and Central America Therapeutic Drug Monitoring Market Forecasts and Analysis - By Product
11.5.4 South and Central America Therapeutic Drug Monitoring Market Forecasts and Analysis - By Technology
11.5.5 South and Central America Therapeutic Drug Monitoring Market Forecasts and Analysis - By Drug class
11.5.6 South and Central America Therapeutic Drug Monitoring Market Forecasts and Analysis - By End User
11.5.7 South and Central America Therapeutic Drug Monitoring Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Therapeutic Drug Monitoring Market
11.5.7.1.1 Brazil Therapeutic Drug Monitoring Market by Product
11.5.7.1.2 Brazil Therapeutic Drug Monitoring Market by Technology
11.5.7.1.3 Brazil Therapeutic Drug Monitoring Market by Drug class
11.5.7.1.4 Brazil Therapeutic Drug Monitoring Market by End User
11.5.7.2 Argentina Therapeutic Drug Monitoring Market
11.5.7.2.1 Argentina Therapeutic Drug Monitoring Market by Product
11.5.7.2.2 Argentina Therapeutic Drug Monitoring Market by Technology
11.5.7.2.3 Argentina Therapeutic Drug Monitoring Market by Drug class
11.5.7.2.4 Argentina Therapeutic Drug Monitoring Market by End User
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. THERAPEUTIC DRUG MONITORING MARKET, KEY COMPANY PROFILES
13.1. ABBOTT LABORATORIES
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. AGILENT TECHNOLOGIES, INC.
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. BIO-RAD LABORATORIES INC.
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. BIOMéRIEUX SA
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. BüHLMANN LABORATORIES AG
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. DANAHER CORPORATION
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. F. HOFFMANN-LA ROCHE LTD
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. RANDOX LABORATORIES LTD.
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. SEKISUI MEDICAL CO. LTD.
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. SIEMENS HEALTHINEERS
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
13.11. THERMO FISHER SCIENTIFIC
13.11.1. Key Facts
13.11.2. Business Description
13.11.3. Products and Services
13.11.4. Financial Overview
13.11.5. SWOT Analysis
13.11.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. Abbott Laboratories
2. Agilent Technologies, Inc.
3. Bio-Rad Laboratories Inc.
4. bioMerieux SA
5. Bühlmann Laboratories AG
6. Danaher Corporation
7. F. Hoffmann-La Roche Ltd
8. Randox Laboratories Ltd.
9. Siemens Healthineers
10. Thermo Fisher Scientific
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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