Albany, NY -- (SBWIRE) -- 10/16/2020 -- Transparency Market Research (TMR) has published a new report titled, 'Drugs of Abuse Testing Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027'. According to the report, the global drugs of abuse testing market was valued at US$ 4.6 Bn in 2018 and is projected to expand at a CAGR of 5.7% from 2019 to 2027.
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- Illicit drug consumption is largely a youth phenomenon, gradually increasing through teens and reaching peak in persons aged 18 to 25. Abuse of drugs and alcohol has negative consequences on society and poses a significant burden on the workplace and health care systems.
- North America dominated the global drugs of abuse testing market in 2018 and the trend is anticipated to continue during the forecast period. Highly structured health care industry, increased usage of illicit drugs, and introduction of the Affordable Care Act in the U.S. are expected to drive the market in North America.
- Moreover, North America is also likely to be a highly lucrative market for drugs of abuse testing and it is expected to expand at a high CAGR during the forecast period
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Rise in law enforcement spending for illicit drug interdiction and growing impact of drug and alcohol abuse on public health to Drive Market
- Governments across the world have increased expenditure on law enforcement agencies aimed toward drug interdiction through mandatory screening of potential illicit drug abusers. For instance, in the U.S., the Office of National Drug Control Policy spent US$ 31.1 Bn for illicit drug control in 2015 in order to reduce drug use and its consequences.
- Substance abuse has high impact on the health of individuals and their families. According to United Nations World Drug Report (2016), an estimated 1 in 20 adults aged between 15 and 65 used at least one drug in 2014. Moreover, over 29 million drug users suffer from substance use disorders leading to high health consequences.
Analyzers Segment to Dominate Market
- Based on product type, the global drugs of abuse testing market has been divided into analyzers, rapid testing devices and consumables. The analyzers segment has been bifurcated into immunoassays analyzers, chromatographic devices and breath analyzers.
- The analyzers segment dominated the global drugs of abuse testing market in 2018 and the trend is projected to continue during the forecast period. Increase in use of analyzers to accelerate the growth of the segment. Increase in the popularity of breath analyzers is also major factor for to boost the market growth.
- Further, the rapid testing devices segmented into urine testing devices and oral fluid testing devices and consumables divided into fluid collection devices and others.
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North America to Dominate Global Market
- In terms of region, the global drugs of abuse testing market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global drugs of abuse testing market in 2018, followed by Europe.
- North America accounted for major share of the global drugs of abuse testing market in 2018, increased consumption of illicit drugs and the penetration of insurance plans for costly diagnosis tests, making it one of the largest markets in terms of revenue
- According to CDC, approximately 10.6% of the U.S. population aged 12 years and above consumed illicit drugs in 2016.
- The global Drugs of abuse testing market is fragmented in terms of number of players. Key players in the global market include Alere Inc., Laboratory Corporation of America Holdings, Roche Diagnostics, Thermo Fisher Scientific Inc., Drägerwerk AG & Co. KGaA, Siemens Healthineers, Express Diagnostics International Inc. and Shimadzu Corporation among others
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