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Drug of Abuse Testing Market Trends, Business Strategies, Regional Outlook, Challenges and Analysis Through 2030

09-27-2023 01:56 PM CET | Health & Medicine

Press release from: P&S Intelligence

Drug of Abuse Testing Market Trends, Business Strategies,

The size of the drug of abuse testing market will rise at a rate of 6.5% by the end of this decade, to touch USD 10,485.7 million by 2030. The industry is growing because of the increasing consumption of drugs and alcohol.

Also, the increasing pace of tech progressions and snowballing consciousness amongst people pertaining to the harmful effects of such materials are powering the industry growth.

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Road accidents are measured with regards to the number of people injured and dead, whether immediately or in 30 days of the happening of the accident. Alcohol and additional drugs have an influence on the impulse control, reflexes, judgment, motor function, and decision making, leading to road accidents and every so often, death.

As per the WHO, about 1.3 million people expire on a yearly basis because of traffic crashes, and roughly 20 to 50 million have non-fatal injuries.

Key Players in Drug of Abuse Testing Market Are:
• Danaher Corporation
• Quest Diagnostics Incorporation
• Laboratory Corporation of America Holdings
• Drägerwerk AG & Co. KGaA
• Abbott Laboratories
• F. Hoffmann-La Roche Ltd.
• Thermo Fisher Scientific Inc.
• Merck KGaA
• Clinical Reference Laboratory (CRL) Inc.
• Omega Laboratories Inc.

North America led the industry, with a share of revenue around 40%, in 2022, due to the high investments in research and developments, presence of the big players, rising acceptance of cutting-edge solutions, and the efforts of the major companies coming up with newer patents.

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In the region, the U.S. has a major share, of 90%, credited to the mounting use of illicit drugs and growing health apprehensions as a result of it. The intensifying workplace monitoring for the illicit drugs consumption and the growing drug trafficking activities are the additional factors contributing to the industry growth.

Consumables had the considerable share, over 60% in the drug of abuse testing market in the past, for the reason that they can be made rapidly available for the onsite drug testing. The consumables can be put to use once, because of having a relatively short shelf life, meaning, they are required to be purchased repeatedly.

Furthermore, immunoassay analyzers are extensively used, as they are a fast, convenient and affordable method to screen numerous samples in a range of matrices. The analyzers also offer precise results and, therefore, have the second-largest share.

Browse full report at: https://www.psmarketresearch.com/market-analysis/drug-of-abuse-testing

The urine category is the leader of the industry, since samples of urine secrete metabolites, which can be effortlessly tested for the existence of unlawful drugs; these particles are not demolished by any external factor. Other reasons for the preference for the collection of urine samples for the analysis of intoxicating materials are the non-invasiveness of collection, rapidity of the outcomes, and the reason that most of the drugs are recognized by urine.

Due to the growing use of drugs and alcohol, the demand for drug of abuse testing is on the rise, and it will also continue to grow in the years to come.

Contact:
Chandra Mohan
AVP - Business Development
Phone: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
Blog: https://www.psmarketresearch.com/blogs

About P&S Intelligence

P&S Intelligence offers custom and syndicated market research and consulting services to clients across the globe. Our team of young and dynamic researchers, guided by mentors with years of experience, create data-rich reports tailored to the needs of MNCs as well as startups and SMEs. We remain in a perennial quest to offer exhaustive insights into every aspect of the market, allowing businesses of all sizes to seize even the smallest of opportunities and tackle even the biggest of challenges.

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