Friday, February 3, 2023

Global Drugs of Abuse Testing Market to Grow at a CAGR of 8.4% by 2027

-

The ‘Global Drugs of Abuse Testing Market Price, Report and Forecast 2022-2027’, by Expert Market Research, gives an extensive outlook of the global drugs of abuse testing market, assessing the market on the basis of its segments like products and services, sample type, enad user, and major regions.

Drugs of Abuse Testing Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast

Get a Free Sample Report with Table of Contents – https://www.expertmarketresearch.com/reports/drugs-of-abuse-testing-market/requestsample

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

Report AttributeDetails
Historical Period2017-2021
Forecast Period2022-2027
Base Year2021
Market Size in 2021USD 8.7 Billion
Revenue Forecast in 2027USD 14.12 Billion
Growth Rate CAGR8.4%
Major PlayersLifeloc Technologies Inc, Abbott Laboratories, F. Hoffmann-La Roche Ltd, Bio-Rad Laboratories Inc, Quest Diagnostics, Premier Biotech Inc, and others.

The global market for drugs abuse testing has grown rapidly because owing to the increase in alcohol and illegal drug use. Opiates, cocaine, cannabis, 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.

Read Full Report with Table of Contents – https://www.expertmarketresearch.com/reports/drugs-of-abuse-testing-market

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.

Related Reports:

Robotic Welding Market : https://www.expertmarketresearch.com/reports/robotic-welding-market

Smart Display Market: https://www.expertmarketresearch.com/reports/smart-display-market

Smart Waste Management Market :https://www.expertmarketresearch.com/reports/smart-waste-management-market

LiDAR Drone Market: https://www.expertmarketresearch.com/reports/lidar-drone-market

Natural Gas Generator Market: https://www.expertmarketresearch.com/reports/natural-gas-generator-market

About Us:

Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skillful analysis and interpretation of data, the company offers its clients extensive, latest, and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.

EMR customises syndicated reports according to clients’ requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.

Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.

Media Contact:

Company Name: Claight Corporation
Contact Person: Sophia Grace, Corporate Sales Specialist – U.S.A.
Email: sales@expertmarketresearch.com
Toll Free Number: +1-415-325-5166 | +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
Website: www.expertmarketresearch.com
LinkedIn:- https://www.linkedin.com/company/expert-market-research

FOLLOW US

0FansLike
3,694FollowersFollow
0SubscribersSubscribe
spot_img

Related Stories