Global Drug of Abuse Testing Market to Grow Over $8 Billion by 2022: Acumen Research and Consulting
According to a new report published by Acumen Research and Consulting titled “Drug of Abuse Testing Market
(Product Type: Equipment, Consumables; Sample: Urine, Saliva, Hair, Others; End-user: Hospital, Laboratory, Workplace, At Home, Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2012-2022”, the global drug of abuse testing market is expected to grow at a CAGR of over 9.5% during the period from 2016 to 2022 and reach the market size of more than $8 billion in 2022. The growth of this market is mainly attributed by increasing usage of drug of abuse testing at organizations level and increased production and trade of illegal drugs across the globe. In addition, rising death rate in road accidents and increasing consumption of illicit drugs is further driving the market growth.
Drug abuse testing is used to identify illicit drug consumption among individuals or those driving under the influence of such drugs. It is also useful to identify the nature of illicit substance, monitor patients in rehabilitation, and detect the presence of performance enhancing drugs in athletes. Drug of abuse testing can also help in identifying the potential victims of substance abuse and decrease mortality and morbidity caused by the use of these drugs. It even helps in detecting the low concentration of drugs and do not interfere with other substances. Various countries have issued legal guidelines and clinical recommendations for the efficient use of drug abuse testing as it can be used for a number of medical and legal purposes. Drug of abuse testing is increasingly used in private and public organizations, government agencies, and by healthcare service providers.
Increased production of illegal drugs and drug trafficking has increased across the globe, as a result of which the market for drug of abuse testing is witnessing increased demand. According to the reports by UN, around 200,000 people die every year due to excess drug intake. According to the National Institute of Alcohol Abuse and Alcoholism, in 2014, fatalities related to driving under influence of alcohol numbered to around 9,967 deaths, which was around 31% of the total number of road accidents in that year. Alcohol related mishaps can be reduced by increasing the use of drug of abuse testing by people, parents, and enforcement agencies.
The global drug of abuse testing market is segmented based on product type, sample, end-user, and geography. Based on product type, the market is categorized into equipment and consumables. Equipment segment is further divided into immunoassay analyzer, chromatography instrument, and breath analyzers. Consumables segment is further divided into rapid test kit, assay kit & reagents, and others. Based on sample, the market segments include urine, saliva, hair, and others. The end-user segments of drug of abuse testing market include hospital, laboratory, workplace, at home, and others. The regional markets analyzed in the report include North America, Europe, Asia-Pacific, and Rest of the World.
North America led the global drug of abuse testing market in 2015 and accounted for the share of over 49%. The growth in North America is mainly attributed by the increased availability of drugs, increased workplace checking for consumption of illicit drugs and increased drug trafficking in the region. However, Asia-Pacific region is expected to witness strong growth during the forecast period due to increase in illicit drug and alcohol consumption in the region couple with strict government regulations towards testing alcohol consumption. Based on product type, consumables was the largest segment and accounted for over 50% share in 2015.
The player profiled in the report include Siemens AG, Danaher Corporation, Shimadzu Corporation, MilliporeSigma, Drägerwerk AG & Co. KGAA, Express Diagnostics Int'l, Inc, Psychemedics Corporation, Waters Corporation, BioMerieux SA, F. Hoffmann-La Roche Ltd, Laboratory Corporation of America Holdings, Quest Diagnostics Inc, Alere Inc, Randox Laboratories Ltd, Bio-Rad Laboratories, Inc., Abbott Laboratories, Sonic Healthcare Ltd, and Thermo Fisher Scientific Inc. among others. Mergers and acquisitions for innovation and new product development and partnership for enhancing product quality are some of the major strategies followed by leading players in this market to sustain market competition.
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