Oncology Therapeutic Drug Monitoring Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis (2017-2021) and Forecast (2022-2028)

Description

Oncology Therapeutic Drug Monitoring Market size was valued at USD 426.7 million in 2021 and is poised to grow at a significant CAGR of 5.8% over 2022-2028. Therapeutic drug monitoring is a multidisciplinary procedure that involves assessing medication concentration in the bloodstream to ensure that it remains effective. It’s utilized to increase medication efficacy, reduce toxicity and adverse drug reactions (ADR), make dosage adjustments based on the patient’s needs, and detect therapeutic failure. Based on drug class type the methotrexate segment holds the highest revenue market share in the global oncology TDM market owing to methotrexate is the most efficient and widely used medication for treating a variety of cancers as well as severe and resistant autoimmune illnesses. Moreover, other companies are focusing on acquisition to maintain growth in the market. For Instance, In December 2021 Assertio Holdings, Inc., acquired Otrexup (methotrexate), a drug-device combination single dose once weekly auto-injector, from Antares Pharma, Inc. Increasing in the prevalence of cancer illness and the incidence of various cancer disorders, as well as a rise in an increase in popularity of advanced therapies (biologic and targeted medication therapies) and an increase in the global geriatric population. Furthermore, the rise in cancer awareness and early cancer screening contributes to the growth of the oncology TDM market.

Key Developments:

In July 2021, Roche announced the approval of “Ronapreve” (casirivimab and indevimab) for intravenous infusion treatment of patients with mild to moderate COVID-19. Under Article 14-3 of the Pharmaceuticals and Medical Devices Act, the antibody combination received Special Approval.