Increasing need of monitoring optimum drug levels in blood plasma to drive therapeutic drug monitoring market in India
According to TechSci Research report, “India Therapeutic Drug Monitoring Market By Product, By Technology, By Class of Drug, By End User, By Region, Competition, Forecast & Opportunities, FY 2026”, therapeutic drug monitoring market in India is projected to grow from an estimated $ 85 million in FY 2021 to $ 119 million by FY 2026 on the back of rising chronic diseases. Therapeutic drug monitoring is an essential clinical practice as it monitors levels of different drugs in plasma, bloodstream, or serum at different time intervals in order to optimize the amount of different drugs to prevent diseases. Therapeutic drug monitoring has utility in various applications such as diagnosis of toxicity, tailoring the optimum drug levels, finding the root cause of failed outcome of therapies, etc. Nowadays, people are increasingly inclined towards precision medicines and personalized dosage. This is expected to be a major factor driving the growth of the country’s therapeutic drug market in the coming years. In addition to this, increasing population along with the growing pool of old-age segment is positively influencing the market growth.
Besides, government initiatives have been prodding the market growth through higher flow of funds for R&D to innovate and develop novel drugs and vaccines. The Central Drugs Standard Control Organization (CDSCO) is the drug authority of India that focuses on approval of novel drugs, setting new standards for the same, and maintaining the quality of the drugs produced as per the Drugs and Cosmetics Act.
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India therapeutic drugs monitoring market is segmented based on product, technology, class of drugs, end user, and region. Based on technology, market is further fragmented into immunoassays, chromatography-ms and others. Amongst these, immunoassays segment held the largest share in FY 2020, since they are highly reliable and render precise and accurate results. The segmental growth is also driven by the convenience of the method and the fact that it requires minimal training for the handling of immunoassay equipment. Based on end user, the market is further segmented into hospital and private labs out of which hospital segment is expected to continue its market dominance until FY 2026.
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Some of the leading players in India therapeutic drug monitoring are Roche Diagnostics India Pvt Ltd, Abbott India Limited, bioMérieux India, Bio-Rad laboratories India Pvt.Ltd, Thermo Fisher Scientific, Danaher Corporation, Siemens Healthineers India, Randox Laboratories (India) Private Limited, Sekisui Chemical India Private Limited, etc. “India therapeutic drugs monitoring market is anticipated to witness a significant growth over the next five years owing to the technological advancements evolving in the healthcare sector.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Therapeutic Drug Monitoring Market By Product, By Technology, By Class of Drug, By End User, By Region, Competition, Forecast & Opportunities, FY 2026” has evaluated the future growth potential of India therapeutic drug monitoring market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India therapeutic drugs monitoring market.
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