Drugs of Abuse Testing Market Size:
Global Drugs of Abuse Testing market was valued at US $ XX Mn and expected to grow at XX% Compound Annual Growth Rate (CAGR) over the 2018 to 2024.
Market Outline: Drugs of Abuse Testing Market
Drugs of Abuse Testing is used to determine one or more prescription or illegal drugs that present in the biological samples of a patient. Drugs of abuse are the illicit drugs that are taken for non-medical purposes.
Market Dynamics: Drugs of Abuse Testing Market
Technological advancements of analyzers, rise in availability of forbidden drugs, increase in emphasis on work place screening propels the market growth of drugs of abuse testing market. Furthermore, rise in number of clinical laboratories offering tests for drugs of abuse, increase in demand for drug of abuse testing from private employers also drives the market for drug of abuse testing market globally. However, unfavorable reimbursement policies, low threshold of drug abuse testing laws in emerging countries may hamper the growth of the drug of abuse testing market globally.
Market Scope: Drugs of Abuse Testing Market
Drugs of Abuse Testing market is segmented based on the Drug, Test Type, Sample, End User and geographical regions
Based on the Drug, the market is segmented into the following:
Based on the Test Type, the market is segmented into the following:
- Rapid Testing
Based on the Sample, the market is segmented into the following:
Based on the End User, the market is segmented into the following:
- Diagnostic Centers
- Forensic Labs
Based on the Geographical Regions, the market is segmented into the following:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
Currently, drug abusing is a major problem which is negatively impacting huge population globally. People who are addicted to alcohol or who are prescribed with prolonged usage of drugs are more prone to chronic diseases which are prevailing among global population that leads to economic burden on the nation. Hence, governments across the world are actively taking part in various initiatives to create awareness among people regarding prevention, eradication and early detection of drug abuse. However, companies are focusing on new product launches, minimizing the price of the tests in order to gain maximum traction in the global market. Furthermore, market players are concentrating on various growth strategies such as collaborations, acquisitions, partnerships to enhance their market presence.
Geographically, global Drugs of Abuse Testing market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America holds largest position in Drugs of Abuse Testing market globally especially U.S followed by European countries owing to the increase in availability of illicit drugs, rise in drug trafficking etc. As per to the National Institute of Drug Abuse, around 24.6 Mn Americans with age above 12 years used illicit drug. Asia Pacific, Latin America and MEA regions are also anticipated to have lucrative growth in Drugs of Abuse Testing market owing to the economic instability, un organized government regulations, lack of awareness regarding the usage of drugs, less literacy rates compared to developed countries, increase in adoption of western lifestyle etc.
Some of the players in the global Drugs of Abuse Testing market include:
- Siemens Healthineers (Germany)
- Thermo Fisher Scientific Inc. (U.S.)
- Drägerwerk AG & Co. KGaA, (Germany)
- Hoffmann-La Roche Ltd. (Switzerland)
- Danaher Corporation (Beckman Coulter, Inc.) (U.S.)
- Laboratory Corporation of America Holdings (U.S.)
- Abbott Laboratories (U.S.)
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2013-2017) and forecast (2018-2024)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of the socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market