August 02, 2022 09:30 ET | Source: Future Market Insights Global and Consulting Pvt. Ltd. Future Market Insights Global and Consulting Pvt. Ltd.
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NEWARK, Del, Aug. 02, 2022 (GLOBE NEWSWIRE) -- The therapeutic drug monitoring market is anticipated to witness an opulent growth with a phenomenal CAGR of 9.7% during the forecast period, up from US$ 1.5 Billion in 2020 to reach a valuation of US$ 2.9 Billion by 2026.
Due to a reasonable surge in organ transplant surgeries, the sales of therapeutic drug monitoring are also rapidly increasing. Owing to the rising preference for precision medicine, the demand for therapeutic drug monitoring is accelerating.
Precision medicine picks treatments that are fully suitable to the patient’s ailment and medical history. Oncology has experienced the most development, although this technique extends into all disease areas.
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Roche Diagnostics, Coulter, BioRad, OraSure Technologies, and BioChem Pharmaceuticals are some of the key companies profiled in the full version of the report.
The report comprises key players contributing to the therapeutic drug monitoring market share. It also consists of organic and inorganic growth strategies adopted by market players to improve their market positions. This exclusive report analyses the competitive landscape and therapeutic drug monitoring market share acquired by players to strengthen their market position.
More Insights into the Therapeutic Drug Monitoring Market
On the basis of regions, the therapeutic drug monitoring market is segmented into seven key regions namely: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa.
The North American region is anticipated to dominate the therapeutic drug monitoring market by accounting for the maximum sales in the global market.
A reasonable surge can be witnessed in the sales of therapeutic drug monitoring, but a slight decline was seen in the annual growth rate. As per FMI reports, the demand for therapeutic drug monitoring is expected to surge as the market evolves in the future.
The numerous advantages showcased by therapeutic drug monitoring get appreciated in the established markets and as the techniques and products appear in the emerging market. Moreover, the emerging economies have also started showing a positive inclination as the demand for therapeutic drug monitoring increases.
Technological advancements and a significant rise in the disease population, all over the world are rising the demand for therapeutic drug monitoring as it is rapidly being accepted as a method of choice among patients.
In order to improve diagnostic offerings and increase the sales of therapeutic drug monitoring companies are increasing their research and implementing therapeutic drug monitoring strategies.
The sales of therapeutic drug monitoring are expected to touch the skies throughout the forecast period of 2022-2032 by making alterations to new and more stringent regulations and improvements in diagnostic technologies, automation, and system engineering.
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Table of Content 1. Executive Summary
4. Global Therapeutic Drug Monitoring Market Analysis 2017-2021 and Forecast, 2022-2032
4.1. Historical Market Size Value (US$ Mn) & Volume (No. of Tests) Analysis, 2017-2021
4.2. Current and Future Market Size Value (US$ Mn) & Volume (No. of Tests) Projections, 2022-2032
Click Here for Therapeutic Drug Monitoring Market 250 pages TOC Report
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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