Press release
Global Drugs of Abuse Testing Market to Grow at a CAGR of 8.4% by 2027
Drugs of Abuse Testing Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the report include:
Market Overview (2017-2027)
• Historical Market Size (2021): USD 8.7 Billion
• Forecast CAGR (2022-2027): 8.4%
• Forecast Market Size (2027): USD 14.12 Billion
The global market for drugs abuse testing has grown rapidly because owing to the increase in alcohol and illegal drug use. Opiates, lysergic acid diethylamide (LSD), barbiturates, amphetamines, alcohol, diazepam, and ketamine are repeatedly abused as they have mind-altering properties as well as for other purposes like weight loss and improving athletic performance. The risk of drug dependence and substance use disorders is one of the main factors influencing driving the demand for drug abuse testing market globally.
Healthcare experts and other medical institutions are regularly testing the elderly and screening them for drug usage to identify the drug abuse at early stage, because of the prevalence of opioid dependence. This is anticipated to increase demand for diagnostic and hospital-based drug misuse testing techniques and equipment. Various government initiatives are intended to monitor and address substance use. As a result, the market is also being heavily driven by the increase in government activities to track and combat substance misuse.
Furthermore, the key market players have been offering automated analysis and testing for illicit drugs that can be used at home and are quick with their results. This factor is majorly contributing to growth of drugs of abuse testing market in the forecasted period.
Drugs of Abuse Testing Industry Definition and Major Segments
Drugs abuse substances are those substances that particularly affects the brain of user. In general, within seconds to minutes after intake, drugs produce either happy or negative feelings. Drug tests generally are used to detect the use of drug. Drug tests are able to identify particular drug classes or compounds in biological matrices represented by particular test panels.
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On the basis of products and services, the drugs of abuse market can be segmented into:
• Analysers
• Consumables
• Rapid Testing Devices
• Laboratory Services
Based on sample type, the market is bifurcated into:
• Urine
• Oral Fluid (Saliva)
• Hair
• Breath
• Others
Based on end-users of the market, the marked is segmented into:
• Workplaces and Schools
• Criminal Justice Systems and Law Enforcement Agencies
• Research Laboratories
• Hospitals
Based on region, the market can be divided into:
• The Middle East and Africa
• North America
• Europe
• The Asia Pacific
• Latin America
Drugs of Abuse Testing Market Trends
Due to the existence of key market players pursuing substantial expansion plans, North America is predicted to be the largest regional market. The region's increasing prevalence of drugs misuse and government efforts to regulate it contributes to the growth of the market in the region. The region's demand for drug abuse testing services is expected to increase because of the increased prevalence of substance use disorders brought by the COVID-19 pandemic.
However, COVID-19-related nationwide lockdowns are anticipated to lower the need for workplace drug testing services, which would result in static market expansion. The significant number of drug abuse testing equipment companies in the region, together with their evolving regulatory framework, are factors that contribute to regional growth. Essential details on drug compounds that are beneficial to public health are provided through a number of federal government sources, such as rules, guidelines, and public announcements.
Additionally, the government's increased effort to track drug usage in the public is encouraging the use of drug abuse testing. For instance, to counter the issue of abuse of drug, the US government developed the Patients and Communities Act. These factors are majorly contributing to growth of drugs of abuse testing market in the forecasted period.
Key Market Players
The major players in the market are:
Lifeloc Technologies Inc
Abbott Laboratories
F. Hoffmann-La Roche Ltd
Bio-Rad Laboratories Inc
Quest Diagnostics
Premier Biotech Inc
Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
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