Therapeutic Drug Monitoring Market to Grow at 7.5% CAGR During the Period 2017-2021

Marketsizeforecasters.com adds new global therapeutic drug monitoring market report that lists top active companies as Beckman Coulter, Bio-Rad Laboratories, F. Hoffmann-La Roche, Siemens Healthcare and Thermo Fisher Scientific. Other Prominent Vendors in the market are: Adaptive Biotechnologies, AESKU.Diagnostics, Alere, bioM?rieu, Bio-Techne, B?HLMANN Laboratories, DiaSorin, Euro Diagnostica, Exagen Diagnostics, IDEXX Laboratories, InSource Diagnostics, Merck Millipore, Miraca Life Sciences, Myriad Genetics, Phadia, Quest Diagnostics, SEKISUI MEDICAL, SQI Diagnostics, Tecan, and Theradiag. Commenting on the report, an analyst team said: ?One trend in the market is advent of POC tests. The emergence of POC tests for therapeutic drug monitoring will likely change the market dynamics. The financial costs associated with instrumental operation and maintenance, and the time needed for the preparation and analysis of samples for processing the results, affects the application of therapeutic drug monitoring in medical practices.? According to the report, one driver in the market is increasing demand for personalized medicine. The increasing need for personalized medicine has driven the demand for therapeutic drug monitoring. It is important to get the drug right in content and in quantity (dosage) to offer better care to individuals; however, in many cases, it is given manually by the physicians. This could affect the patient compliance. Therefore, therapeutic drug monitoring is required to find out the correct content and dosage specific to the individual. Further, the report states that one challenge in the market is shortage of skilled technicians for performing diagnostic techniques. Shortage of skilled laboratory technicians for performing diagnostic techniques poses a challenge to the market. Although the degree of technological innovation in the diagnostic sector is high, the availability of skilled labor is still uncertain. Innovative assays and platforms improve the general working conditions by aiding repetitive and complex tasks. However, technically trained professionals are required to operate them. The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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Analysts from Technavio regularly contribute to the news section on MarketSizeForecasters.com. Technavio is a leading market research company with global coverage. Their research and analysis focus on emerging market trends to help businesses identify market opportunities and develop effective strat...

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