Drugs of Abuse Testing Market Report Up to 2031
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COVID-19 Impact on Drugs of Abuse Testing Market
COVID-19 has impacted different recovery models such as V-shaped, U-shaped, W-shaped, and L-shaped; has been taken into consideration while estimating and forecasting the Drugs of Abuse Testing market. Different recovery scenarios are also included in the report for all the segments and regions/nation. The recovery scenarios based on which market has been forecasted and analysed herein the report are mentioned below:
Increasing Drugs Abuse
Drug abuse or inappropriate usage of substances (prescription medication, alcohol) is one of major issue in the developed countries. Drug abuse use to be developed as an addiction. The drugs abuse can have serious consequences on a person’s mental health, physical health, and overall well-being. Drugs Abuse has risen very significantly in few last year as compared to previous once and expected to continuously rise over the forecast period. The increase in the drugs abuse creates a huge demand for the drugs of abuse testing products.
Government initiative and awareness program
Governments in various counties are increasing their initiatives to increase awareness regarding repercussion associated with Drug abuse. Governments and regulatory authority across the world has illegalized Drug abuse or inappropriate usage of substances (prescription medication, alcohol) and are focusing on increasing number of addiction treatment centres and new approval for drug abuse. Increasing government initiative and awareness program is expected to increase demand of drug abuse testing in the forecasted period. Due to this reason the factor is creating various opportunities for drugs of abuse testing market.
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Technological Advancements and the Modernization in Addiction Treatment
Manufactures from all over the world are increasing research and development activities for advancement and modernization of drugs of abuse testing addiction treatment particularly for alcohol, cannabis, opioids, amphetamine, LSD, and Ot helps to accurateness and to reduce require time. New research and development activities are expected to create competitive advantages and increase demand of drugs of abuse analyzers, rapid testing devices, consumables, and laboratory services in the forecasted period. Due to this reason the factor is creating various opportunities for drugs of abuse testing market.
Top companies (F. Hoffmann-La Roche AG, AbbVie, Inc., Mallinckrodt plc and Pfizer, Inc.) constitute more than XX% share of the global Drugs of Abuse Testing market. Other companies profiled in the report include: Sun Pharmaceutical Ltd., Ampac Fine Chemicals, GW Pharmaceuticals plc, Merck & Co., Inc., Depomed, Inc., Coating Place, Inc., Corium International, Inc., Johnson and Johnson Services, Inc., Alkermes plc, Pfizer, Inc. and Orbis Biosciences, Inc.among others Some of the key developments are listed below:
• In 2019, Omeros Corporation has published positive results from OMS527 program Phase 1 study, a inhibitors for the treatment of addictions. Through this development company will widened their market focused product portfolio.
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