04-15-2019 05:29 PM CET - Advertising, Media Consulting, Marketing Research

Europe Drug of Abuse Testing Market to Value Over $ 4 Bn by 2026 End

Press release from: FutureWise Research
Europe Drug of Abuse Testing Market
Europe Drug of Abuse Testing Market
A considerable rise in cases of drug abuse due to opium dependency and confusion between CBD based medical marijuana and marijuana that creates a high is emphasizing the need for drug abuse testing. Increase in mortality rate due to drug abuse is causing the governments to impose strict regulations to make drug of abuse tests mandatory for employment, criminal justice cases and protection for social causes. Besides the advancements in test equipment technology that facilitate quick and ultrasensitive detections of newly formulated abusive drugs. Above mentioned the market stimulants causing a significant upsurge in the global drug of abuse testing market.
The global drug of abuse testing market is to triumph with fabulous global market value overpassing $11 billion marks by 2026 end and registering a CAGR of 7.3% during the forecast period from 2019 to 2026.

Substance Abuse and Mental Health Services Administration (SAMHSA) guidelines govern the collection criteria, a database about companies conducting employment screening, the test that cleared over-the-counter use, specimen testing of substituted or diluted drugs that are habit-forming, whereas FDA regulates drugs of abuse tests mainly by reviewing the design and performance of tests that are widely sold to consumers and healthcare professionals. The drug of abuse tests manufacturers equipped with insights to updated data submitted to SAMSHA and the FDA would be able to fare well in the market.

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Restraints Hampering the Growth of Drug of Abuse Testing Market
• Shortage of experienced technicians for the drug of abuse testing
• Issues with privacy rights in certain countries
• The inability of tests to detect abusive drugs designed with non-detectable traces of forbidden substances.

Global Drug of Abuse Testing, by Test Type:
• Immunoassay Test
• Point-of-Care Tests
• Chromatography Tests
The prominence of most common, quick and inexpensive drug screening test preferred for initial screening is reserved by immunoassay tests and hence hold a key share in the drug of abuse testing market. As the need for portable consumer-centric convenient diagnosis is gaining traction, point-of-care tests segment is estimated to grow at a lucrative CARG in the near future.

Global Drug of Abuse Testing, by Sample Type:
• Urine
• Blood
• Saliva

Global Drug of Abuse Testing, by End User:
• Pathology Laboratories
• Hospitals
• Rehabilitation Centers
• Federal Agencies
• Forensic Laboratories
• Clinics
• Others

Global Drug of Abuse Testing, by Region:
• Europe
• North America
• Latin America
• Rest of World
North America market witnessed significant share due to stringent federal policies. It was followed by the European drug of abuse testing market with stable market growth over the forecast period. The Europe market is poised to value over $ 4 billion by the end of 2026. The Asia Pacific and Latin America to witness the fastest CAGR due to increasing awareness.

Competitive Landscape:
• Tier 1 players- established companies in the market with major market share
• Tier 2 players
• Emerging players which are growing rapidly
• New Entrants

FutureWise Takeaways
• Growth prospects
• SWOT analysis
• Key trends
• Key data-points

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Objectives of the Study:
• To provide with an exhaustive analysis on the global drug of abuse testing market on the basis of test type, sample type, end-user and region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and overall market
• To predict market size, in five key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and core competencies
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