Drugs of Abuse Testing Market to cross US$ 7,163.7 million by 2026, North America to Witness Strong Growth - TMR
Posted on Nov 8 2019 4:56 AM
"Drugs of Abuse Testing Market is driven by increase in impact of drug and alcohol abuse on public health, rise in demand for drug abuse testing among private employers, and surge in abuse of prescription drugs."
In recent times, there has been a subsequent rise in the consumption of illicit drugs and the abuse of prescription drugs. Numerous private companies have mandated drug abuse testing of employees. These factors are anticipated to propel the global drugs of abuse testing market during the forecast period of 2018 to 2026, states Transparency Market Research. According to the United Nations Office on Drugs and Crime, approximately 5% of the adult population across the globe consumed prohibited drugs at least once in 2015. Similar statistics have been seen in the European countries leading to governments deploying strict measures for drug abuse testing.
Drugs of Abuse Testing Market to Rise at Steady 5.5% CAGR
The study on the drugs of abuse testing market forecasts the market to rise at 5.5% CAGR. Progressing at this pace, the market will rise from its historical value of US$ 4,452.5 Mn in 2017 to reach US$ 7,163.7 Mn by the end of the forecast period.
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Excessive use of drugs can lead to numerous criminal activities that expend a lot of resources of a nation. This has encouraged the administrations of developed countries to take legitimate action against the addicts. This is why; developed countries such as the U.S. have strict laws for drug and alcohol testing. Moreover, increasing mortality due to drug abuse has also contributed to the drugs of abuse testing market’s expansion.
Consumables to Fetch Maximum Market Revenue
According to TMR’s study, consumables accounted for 35.7% of the overall drugs of abuse market’s share in 2016. This is majorly because it is used in almost every application for taking samples. Apart from consumables, rapid testing devices are also anticipated to generate significant revenue benefits for the drugs of abuse testing market. These devices are highly preferred due to their portability and ability to provide fast test results.
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Furthermore, urine analysis is expected to dominate the drugs of abuse testing market as it is an extensively used drug testing method at workplaces and in criminal justice cases. It is also widely used in diagnostic laboratories. Moreover, there are laboratories that exclusively perform urinalysis. With the rise in the cases of drug abuse, numerous clinical laboratories are also venturing into drug testing.
Technological advancements and development of new drug testing methods have also highly contributed to the drugs of abuse testing market’s expansion. Numerous advanced drug testing devices have been developed that eliminate the need for samples of urine or blood for drug testing, thereby propelling the market’s growth.
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North America to Dominate the Drugs of Abuse Testing Market
In terms of geography, North America is anticipated to lead the global drugs abuse testing market. The reason for this is attributable to rising drug abuse cases in this region leading to legal and financial issues. As a result, strict laws have been implemented to avoid drug abuse. The U.S. holds a major share in the drugs of abuse testing market’s growth in this region. The growth in this region is attributable to the rising drug trafficking cases in this region.
The drugs of abuse testing market is moderately consolidated with a few players accounting for a substantial share in the market. Leading players functioning in the market comprise Danaher Corporation, Quest Diagnostics Inc., Abbott Laboratories, Randox Laboratories Ltd., bioMérieux S.A., ThermoFisher Scientific Inc., and others.
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The study presented here is based on a report by Transparency Market Research (TMR), titled, “Drugs of Abuse Testing Market (Products - Analyzers, Rapid Testing Devices, Consumables; Sample Type - Saliva, Breath, Urine, Blood, Hair and Sweat; Testing Type - Pain Management Testing, Criminal Justice Testing, Workplace Screening; End user - Forensic Laboratories, Diagnostic labs, On-the-spot Testing, Forensic Laboratories) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026.”
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