The global therapeutic drug monitoring 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. However, the lack of financial provisions for the clinical interpretation of TDM results is expected to restrain the growth of this market during the forecast period.
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On the basis of product, the global therapeutic drug monitoring market is divided into consumables and equipment. In 2018, the consumables segment is expected to grow at the highest CAGR during the forecast period. The larger share and high growth rate of this market can be attributed to the requirement of repeat purchases of kits and reagents, coupled with the increasing number of immunoassay tests being performed across the globe as a result of the rising incidence of chronic and infectious diseases.
On the basis of technology, the global therapeutic drug monitoring market is divided into immunoassay and chromatography-MS. In 2018, the chromatography-MS segment is expected to grow at the highest CAGR in the therapeutic drug monitoring market. LC-MS/MS and GC-MS are the most commonly used chromatography technologies for monitoring the dose regimen of patients. LC-MS/MS is considered the gold standard in TDM for immunosuppressants and anticonvulsants due to its specificity, selectivity, and high accuracy, which is leading to the increasing adoption of these technologies.
The immunoassay technology segment is further divided into chemiluminescence, fluorescence, colorimetric, radioimmunoassays, and other immunoassays. In 2018, the chemiluminescence segment is expected to grow at the highest CAGR in the immunoassay technology market. This technology has a low background interference, rapid detection times, and good specificity, which makes it one of the most commonly used immunoassays for therapeutic drug monitoring.
The APAC market is projected to register the highest growth during the forecast period. Growth in this region can be attributed to the huge demand for better healthcare services; increasing incidence of chronic and infectious diseases; rapid development in healthcare infrastructure in developing countries such as India, China, and South Korea; growing healthcare research investments in this region; and increasing per capita income of the middle-class population.
With the increasing healthcare costs as well as patent expirations, the number of R&D activities focusing on the development of biosimilars have increased over the last few years. The launch of biosimilars in the market is increasing the need for the better understanding of potential differences in biosimilar immunogenicity as well as their safety and efficacy profiles as compared to their predecessors. Therefore, it is vital to develop methods for the TDM of biosimilar drugs for autoimmune diseases to ensure effective patient care. This growth in the development of TDM assays for biosimilar drugs is expected to create potential growth opportunities for market players in the coming years.
