Global Therapeutic Drug Monitoring Market is valued to reach USD 1.2 Billion by 2023, growing at CAGR of 5.2% from 2020-2026. Increase in number of cancer patients, rising demand for better healthcare solutions, growing geriatric population and need to perform drug profiling for medications such as anti-epileptics and immunosuppressants are factors driving the market. This is a latest report, covering the current COVID-19 impact on the market. The pandemic of Coronavirus (COVID-19) has affected every aspect of life globally. This has brought along several changes in market conditions.
Increasing focus on providing better outcomes to patients by delivering patient-centric treatment with the adjustments in drug dosage is driving the growth of the market. Rising demand for genetic testing and ageing population is expected to create lucrative opportunities for therapeutic drug monitoring and propel the market growth. Operational challenges such as the lack of skilled workforce required for performing advanced tests and high costs of therapeutic drug monitoring are expected to hinder the market growth.
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