Drug of Abuse Testing Market | Opportunity Analysis and Industry Forecast By 2025
Date: 2020-03-03   Author: Rahul Varpe  Category: #news

Drug of Abuse Testing Market | Opportunity Analysis and Industry Forecast By 2025

Drug of abuse testing market is expected to exceed USD 4.8 billion by 2025. The rising incidence of drug abuse across the globe will drive the drug of abuse testing market over the analysis timeframe.

Amplifying demand for advanced devices to detect illicit drug consumption is encouraging drug of abuse testing market players to develop fast and precise drug tests. For instance, Abbott and Intoximeters had inked an agreement under which Intoximeters will market Abbott's SoToxaTM Mobile Test System with its Alco-Sensor® brand breath alcohol-testing products. The SoToxaTM Mobile Test System is a handheld oral fluid roadside testing solution which is rapid and reliable. The collaboration will provide police with an entire set of roadside-testing tools to reduce the rate of drugged driving.

U.K drug of abuse testing market accounted for around 4.5% CAGR owing to the presence of technologically advanced devices in the country. Laboratory standards are extremely high that further comply with U.K guidelines for legally defensible workplace drug testing. Thus, the presence of strict guidelines for drug abuse testing fosters business growth. Moreover, government sources such as guidance's and regulations deliver necessary information on drug substances that fosters public health in the U.K.

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Some major findings of the drug of abuse testing market report include:

  • Favorable regulatory scenario in developed economies for drug of abuse tests will foster the business growth
  • Increasing usage of drug of abuse testing devices in law enforcement agencies to accurately detect drug consumption offers several growth opportunities
  • Emerging technology for drug abuse treatment is anticipated to favor market progress during the analysis period
  • Growing number of clinical laboratories in developing economies that effectively manages patient health further augments the industry demand

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Technology has become an efficient tool for spreading awareness, education and offering support. Technology has changed everything in modern society including drug abuse treatment, that is anticipated to favor market progress during the analysis period. Presently, several substance abuse apps offer individuals an opportunity to maintain their health condition. Additionally, drug treatment tech is a self-reporting assessment that improves overall patient wellbeing and helps to identify the extent of drug problems. Different apps such as reset, nomo and WEConnect, thereby, prove beneficial for the drug of abuse testing market growth. For instance, reset is the first app approved by the FDA to treat substance abuse and is accessible through the prescription of a clinician for better patient care.

Some of the notable industry players operating in the drug of abuse testing market are Lab Corps of America Holdings, Dragerwerk, F. Hoffmann-La Roche, Thermo Fisher Scientific, Abbott Laboratories (Alere), Beckman Coulter (Danaher), Randox Testing Services, United States Drug Testing Laboratories, Quest Diagnostics and Siemens. The business players have undertaken inorganic strategies such as collaborations and joint venture to strengthen market position. For instance, In August 2019, MedTest Dx, launched a novel product line of Clinitox Calibrators at the American Association for Clinical Chemistry (AACC). This strategy improved the product portfolio of the firm, thereby maximizing the company's profitability.

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Report Content

Chapter 1. Methodology

1.1. Methodology

1.2. Market definitions

1.3. Forecast parameters

1.4. Data sources

1.4.1.  Secondary Paid sources Unpaid sources

1.4.2.  Primary

Chapter 2. Executive Summary

2.1. Drug of abuse testing industry 3600 synopsis, 2014 - 2025

2.1.1. Business trends

2.1.2. Product trends

2.1.3. Sample trends

2.1.4. End-use trends

2.1.5. Regional trends

Chapter 3. Drug of Abuse Testing Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2014 - 2025

3.3. Industry impact forces

3.3.1. Growth drivers Favorable regulatory scenario in developed economies Increasing usage of drug of abuse testing devices in law enforcement agencies Growing number of clinical laboratories Rising technological advancements

3.3.2. Industry pitfalls and challenges Dearth of trained laboratory professionals

3.4. Growth potential analysis

3.4.1. By product

3.4.2. By sample

3.4.3. By end-use

3.5. Porter’s analysis

3.6. Competitive landscape, 2018

3.6.1. Strategy dashboard

3.7. PESTEL analysis

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for algosonline. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. ...

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