APAC Therapeutic Drug Monitoring Market

APAC Therapeutic Drug Monitoring Market Size (2023 to 2028)

The therapeutic drug monitoring market in the APAC region is forecasted to grow at a CAGR of 9.27% from 2023 to 2028 and worth USD 0.68 billion by 2028 from USD 0.43 billion in 2022.

An increasing number of chronic diseases and an increasing geriatric population are the major factors for the market growth. Nearly half of the region's population is suffering from various types of diseases such as cancer, cardiovascular disease, diabetes, and autoimmune diseases. Nearly 77 million people in India are suffering from Diabetes and the number is expected to rise in the coming years. To prevent critical situations and reduce the mortality rate, people are preferring to take medications for the diseases. Sometimes usage of the medications may lead to severe complications due to overdose or low doses and therefore, in order to avoid these types of situations, people are undergoing therapeutic drug monitoring leading to market development. Increasing organ transplant procedures is another factor for market growth.

In recent years due to the growing awareness about organ transplantation, people who are suffering from lung and kidney disease are preferring to have an organ transplantation to increase their life span. Immunosuppressive drugs play important role in the success of transplantation procedures and are also used for the treatment of inflammatory bowel disease and autoimmune hepatitis. It is important to check the concentration of the immunosuppressive drugs in the patient as they can be dangerous in high quantities, therefore, healthcare providers prefer therapeutic drug monitoring supporting the growth of the market.

Increasing advancement in the development of therapeutic drug monitoring systems with advanced technologies also helps the development of the market. Therapeutic drug monitoring is also used to personalize anti-infective therapies which help to improve the outcome by taking the correct antibiotic resistance for the patient's body for a fast recovery. Increasing research and development and increasing government support are the other factors for market growth.

The high cost of therapeutic drug monitoring devices is the major factor that restrains market growth. Lack of skilled professionals, less production of therapeutic drug monitoring devices, lack of proper infrastructure, and long-time approval for novel devices are the other factors that impede the market growth during the forecast period. 

This research report on the APAC therapeutic drug monitoring market has segmented and sub-segmented the European biomaterials market into the following categories:

By Product:

• Consumable

• Equipment

By Technology:

• Fluorescence Immunoassay

• Radioimmunoassay

• GCMS

By Drug Class:

• Antiepileptics

• Antibiotics

• Psychoactive Drugs

• Antiarrhythmic Drugs

• Bronchodilators

• Immunosuppressants

• Others

By End-User:

• Hospitals

• Commercial/Private Laboratories

• Others

By Country:

• India

• China

• Japan

• South Korea

• Australia

• New Zealand

• Thailand

• Malaysia

• Vietnam

• Philippines

• Indonesia

• Singapore

• Rest of APAC

Asia Pacific holds the maximum share in the market growth due to increasing advancement in medical devices and increasing healthcare expenditure by the population. India and China hold a large share of the market. Increasing awareness programs about the benefits of therapeutic drug monitoring for various types of disease is the major factor for the market growth in India.

The increasing use of personalized medicine by many populations in China is the main reason for the growth of the market. Personalized medicine plays a major role in patient care such as improving patient outcomes concerning treatment, reducing healthcare costs, and increasing the efficiency and safety of the patient during the usage of personalized medicines. As a result, therapeutic drug monitoring is one of the approaches for manufacturing personalized medicine. Most of the Chinese population uses therapeutic drug monitoring for psychiatric issues. Due to increasing success rates of using personalized drugs for psychiatric issues, patients are recovering fast compared to normal generic drugs. By considering all these factors the market has developed during the forecast period.

Increasing clinical centres for therapeutic drug monitoring in Japan is the main reason for the market growth. Most of the Japanese population use therapeutic drug monitoring to check the dosage content in the blood for anti-cancer drugs. Overdosage of cancer drugs may kill the healthy cells which increases the complications and decrease the life span of the patient. So, healthcare providers choose therapeutic drug monitoring for administering the correct dosage of medicine to a patient who is suffering from a high stage cancer.

KEY MARKET PARTICIPANTS:

Companies playing an influential role in the APAC therapeutic drug monitoring market profiled in this report are Abbott Laboratories, Inc., Agilent Technologies, Inc., Alere, Inc., apDia Group, ARK Diagnostics, Inc., Beckman Coulter, Inc., Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche AG, and Grifols, S.A.