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Kenneth Research has recently added a report titled Drug Abuse Testing Market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2022-2031.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Drug Abuse Testing Market products.
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Clinical procedures for drug testing monitoring have undergone significant improvements in the past five years to remain abreast of the rapid increase of emerging drugs that are being exploited, substitute matrices, and consumer demands. Drug addiction monitoring is a non-invasive scientific examination of biological materials, such as saliva, clothing, semen, and others, to detect the existence of illicit, addictive medications or their metabolites. Of such urine samples were the most favored form of examination used for drug abuse testing. Drug monitoring is a vital add-on to health treatment and drug usage. Drug monitoring is commonly being utilized for sporting clubs, businesses, medical uses, and a variety of other applications. The rise in the number of individuals who drink alcohol and illegal substances, such as tobacco, methamphetamine and others, is one of the key causes of the need for substance addiction treatment. In addition, technological advances in drug screening / testing devices and strict government regulations requiring drug screening are boosting market growth. However, the lack of understanding and recognition regarding substance monitoring as a violation of privacy rights in certain countries limits the expansion of the global demand for opioid addiction research.
Emerging markets, such as Asia-Pacific and LAMEA, provide lucrative market growth opportunities for drug abuse testing. Moreover, Testing has become mandatory for multiple national and international organizations such as the International Olympic Committee (IOC), the International Sports Federation (ISF) and the National Olympic Committee to stop drug abuse in sport. As a consequence, the market is expected to expand at a steady pace during the forecast period (2020-2027). Moreover, the rising pattern observed in the industry for drug abuse testing is that leading players are expanding their product range by incorporating goods and upgrading applications with different drug abuse testing substances in order to retain their expertise and market share. For instance, Thermo Fisher Science obtained 510 (k) approval from the U.S. in August 2016. FDA for the DRI Hydrocodone Assay. Such test allows the identification of hydrocodone, the most commonly administered and misused opiate drug in the U.S.
The regional analysis of global Drug Abuse Testing market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is expected to lead the regional demand for substance addiction treatment. Growth is mostly attributed due to the growing usage of illegal narcotics in the area. To reduce drug abuse cases, the U.S. government has taken several initiatives, including mandatory drug testing in multiple departments, including defense, oil and gas, mining, and the Department of Transportation (DOT). Drug testing has also been made compulsory in educational institutions.
Major market player included in this report are:
Drägerwerk AG & Co. KGaA
Abbott Laboratories
F. Hoffmann-La Roche AG
Bio-Rad Laboratories, Inc.
Siemens AG
Thermo Fisher Scientific, Inc.
Danaher Corporation
Quest Diagnostics Incorporated
Express Diagnostics International Inc.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Product & Services:
Analyzers
Rapid Testing Devices
Consumables
Laboratory Services
By Sample Type:
Urine
Oral Fluid
Breath
Hair
Others
By End-User:
Workplaces & Schools
Criminal Justice Systems & Law Enforcement Agencies
Research Laboratories
Hospitals
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Drug Abuse Testing Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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About Kenneth Research
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defence, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research, are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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