Research report explores the Drug of Abuse Testing Market for the forecast period, 2020-2027


Posted April 29, 2021 by deppgaikwad

Market Research Future Adds The “Drug of Abuse Testing Market Research Report–Forecast Till 2027” Report To Their Unique Collection.

 
Drug of Abuse Testing Market is likely to register a CAGR of 7.77% and is projected to reach USD 6,673.3 Million by 2025. Drug of abuse testing is based on diagnosing drug addiction, also called substance use disorder, requiring a thorough evaluation and often includes an assessment by a psychiatrist, a psychologist, or a licensed alcohol and drug counselor. Blood, urine, or other lab tests are used to assess drug use, but they’re not a diagnostic test for addiction. These tests may be used for monitoring treatment.

Several factors such as increased use of drug testing at an organizational level, growing production and trade of illicit drugs worldwide, rise in road accidents and death rates, and the rise in the consumption of illegal drugs are driving the growth of the market. However, the inability of testing products to detect low-dose designer drugs, social issues associated with drug abuse testing, and legalization of drugs are a threat to the growth of the market.

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Market Dynamics

Drug testing in the workplace has traditionally been conducted using collection and analysis of urine. Urine as a specimen for drug testing allows for a long window of detection. Drug of abuse testing has been increasingly used by the American and European organizations at various levels like pre-employment screening, random drug/alcohol screening, post-incident drug or alcohol screening, and abstinence monitoring. Testing has become mandatory for multiple national and international organizations such as the International Olympic Committee (IOC), International Sports Federation (ISF) and National Olympic Committee, to stop drug abuse in sports. Thus, the market is projected to grow at a steady rate during the forecast period.

Segmentation

Based on the type of test, the global drug of abuse testing market has been segmented into onsite screening test and laboratory drug testing. The onsite screening test segment held a market share of 71.62% in 2018. Based on the sample, the global drug of abuse testing market has been segmented into by urine, saliva, hair, and others.

Key Players

The Major Players in the Global drug abuse screening test market are Quest Diagnostics (US), Laboratory Corporation of America Holdings (LabCorp) (US), Abbott Laboratories (US), Randox laboratories (UK), Bio-Rad Laboratories, Inc. (the US), Sonic Healthcare (Australia), F. Hoffmann-La Roche Ltd (Switzerland), and Thermo Fisher Scientific, Inc. (US).

Some of the key strategies followed by the players operating in the global drug of abuse testing market were mergers, acquisitions, and new product launches.

Regional Analysis

The Global Drug of Abuse Testing Market, on the basis of region, is divided into North America, Europe, Asia-Pacific, and the rest of the world. The North American region is projected to dominate the global drug of abuse testing market. The growth is mainly attributable to the increasing use of illicit drugs in the region. In order to reduce the cases of drug abuse, the US government has been taking various initiatives like mandatory drug testing in multiple departments including defense, oil, and gas, mining and department of transportation (DOT). Drug testing has also been made a mandatory process in educational institutions.

The European market for drug of abuse testing is projected to be the second-largest during the forecast period. The broad market size of the region is a result of government initiatives to curb abuse and increasing alcohol-related accidents in the region, which leads to a greater emphasis on the use of testing equipment.

Asia-Pacific is the fastest-growing market for drug of abuse testing. This owes to the rise in alcohol consumption and strict government rules and regulations about testing drug consumption in the region.

The rest of the world is expected to grow at a steady rate due to the increasing awareness created by public and private organizations.

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Issued By Depp Gaikwad
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Market Research Future
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Categories Health , Medical , News
Tags Drug of Abuse Testing Market
Last Updated April 29, 2021