Albany, NY -- (SBWIRE) -- 09/06/2018 -- An up to date business intelligence study by Transparency Market Research (TMR) has detected that while the drugs of abuse testing market continues to gain strong demands in North America and Europe, the competitive landscape remains fairly consolidated among a handful of players. This leadership position of some of the prominent companies in the global drugs of abuse testing market, such as F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Drägerwerk AG & Co. KGaA, Siemens Healthineers, Abbott Laboratories, Laboratory Corporation of America Holdings, and Danaher Corporation (Beckman Coulter, Inc.) is a reflection of their strong presence in the developed countries.
In addition to that, these players have been the pioneers of some of the latest testing instruments, and are expected to maintain their stronghold in the near future too. For instance, Thermo Fisher Scientific has several featured products such as CEDIA™ Oral Fluid Drugs of Abuse Assays, DRI™ Cocaine Drugs of Abuse Assays, and DRI™ Ethyl Alcohol Drugs of Abuse Assays. Each of these products are designed to integrate with existing operations of an organization. On the other hand, the Dräger DrugTest® System (Dräger Safety) from the namesake company is a lateral-flow immunoassay for the detection of drugs of abuse in oral fluid, such as saliva.
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Global Drugs of Abuse Testing Market to be worth US$6,781.6 mn by 2025
The analysts of this TMR report have evaluated that the global drugs of abuse testing market was worth approximately US$4,443.9 mn in 2017 and by the end of 2025, future opportunities are expected to translate into a revenue of US$6,781.6 mn. During the forecast period of 2017 to 2025, the demand in the global drugs of abuse testing market is projected to increment at a CAGR of 5.4%.
Based on product type, the TMR report segments the drugs of abuse testing market into analyzers, rapid testing devices, and consumables. The analyzers segment is further sub-segmented into immunoassay analyzers, chromatographic devices, and breath analyzers, whereas rapid testing devices have been bifurcated into urine testing and oral fluid testing. Consumables are divided into fluid collection devices and others. Based on sample type, the market has been categorized into breath, saliva, blood, urine, and hair and sweat. Testing type bifurcation of the market has been done into paint management testing, criminal justice testing, and workplace screening. The report also evaluates the potential of demand that can be expected from the end users in hospitals, diagnostics laboratories, on-the-spot testing, and forensic laboratories. Geographically, North America and Europe have been identified as the two most profitable regions.
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Government Initiatives for Workplace Drug Testing Driving Demand
According to the National Institute of Drug Abuse, more than 115 US citizens die as a result of opioid overdose every day. The country has been taking vigorous efforts to curtail this growing concern and consequently, the demand for equipment and instruments that can test the presence of drugs of abuse is increasing. Similar adoption is also being noticed in some of the European regions including the U.K., France, and Germany. Governments in these countries are also encouraging the corporate sectors to provide for work place drug tests in order to hold the escalating percentage of drug addicts. The mushrooming of diagnostic laboratories, improving healthcare infrastructure in several emerging economies, and prevalent demand for prohibited drugs are some of the other factors augmenting the demand in the global drugs of abuse testing market.
Demand in the global drugs of abuse testing market to expand at a CAGR of 5.4% during the forecast period.
There are only a limited number of players operating in this market, keeping the shares largely consolidated among themselves.
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