Los Angeles, January 2, 2020 - A new report labelled, “Global Therapeutic Drug Monitoring Market Research Report 2019” has been added to the medical care archive of market research studies by QY Research. As per the report, the market size of Therapeutic Drug Monitoring is projected to reach a little greater than US$ 2.0 Bn by 2025 end and in 2018, the market size was slightly above US$ 1.0 Bn. The Therapeutic Drug Monitoring market is estimated to register a healthy CAGR of 6.05% between 2017 and 2025. Therapeutic Drug Monitoring is gaining popularity on the back of surge in the number of organ transplantation cases. Furthermore, need for personalized medicines and dosage individualization is inducing the demand for Therapeutic Drug Monitoring.
Get PDF sample copy of the report at: https://www.qyresearch.com/sample-form/form/1419873/global-therapeutic-drug-monitoring-market
Limitations to the Therapeutic Drug Monitoring Market Growth:
● Lack of skilled resources
● High cost of infrastructure
● Lack of awareness, particularly among the developing economies
Increased Usage of Blood Tests for Therapeutic Drug Monitoring: The global Therapeutic Drug Monitoring market is segregated on the basis of the product as blood test, urine test, saliva test, and other test. Drug Monitoring is performed with the help of various ways depending on the samples of blood and urine. Though blood testing offers accurate results and slim margin for error, it is time consuming and intrusive. Physicians and lab professionals are increasingly opting for urine drug testing nowadays.
Asia Pacific to Emerge as a Lucrative Regional Market in Future: Although high incidence of chronic diseases and advanced medical facilities offer an upper hand to North America, Asia Pacific is expected to create lucrative opportunities for the market players on the back of improvement in the healthcare infrastructure. Supportive government initiatives and increasing awareness about the benefits of therapeutic drugs are further having a positive impact on the regional market growth.
Introduction of Novel Technologies to Become Prominent: Key players operating in the Therapeutic Drug Monitoring market comprise Thermo Fisher Scientific, Roche, Becton Dickinson, Danaher, Abbott, Siemens Healthcare, BioMerieux, Bio-Rad Laboratories, Sanquin, and Quest Diagnostics.
● Market participants are likely to take up extensive research & development activities to develop novel drug monitoring technologies in the years to come
● Besides, strategic initiatives, such as mergers and acquisitions, portfolio expansion, and collaborations, are being adopted by the market players so as to reinforce their presence in the Therapeutic Drug Monitoring market
● Key players could emphasize on improving the existing drug monitoring practices.
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