Transparency Market Research

Drugs of Abuse Market to Exhibit Moderate 4.8% CAGR, Favorable Government Initiatives to Steer Global Market

Drugs of Abuse Testing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2018

 

Albany, NY -- (SBWIRE) -- 07/09/2015 -- Socioeconomic losses triggered by use of illicit drugs have raised global concerns. Government and non-government agencies of several nations have adopted several initiatives to curb the increasing incidence of drug abuse. This is expected to give momentum to the global drug abuse testing market. According to a report published by Transparency Market Research, the global drugs abuse testing market is projected to exhibit moderate expansion at a 4.8% CAGR between 2013 and 2018. The report is titled "Drugs of Abuse Testing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2018" and is available on Transparency Market Research's website for sale. Not just production but trade of illicit drugs has also increased, which has spurred illicit drug consumption substantially. To counter the escalating consumption of illicit drugs, drugs of abuse testing is now being adopted at organizational levels. Additionally, the report mentions that the increasing death rates and rising number of road accidents due to drug abuse is expected to boost the global drugs of abuse testing market considerably.

Browse the full Drugs of Abuse Testing Market Report at
http://www.transparencymarketresearch.com/drugs-abuse-testing-market.html

However, the society is yet to discard the stigma associated with the testing of illicit drugs, which is why the drugs of abuse testing market is encountering numerous obstacles. Complications associated with legalization of various drugs, cost concerns, and economic volatility are other factors which could emerge as potential threats to the market. Among the key geographical segments of the global drugs of abuse testing market, North America has demonstrated impressive growth in the adoption of drugs of abuse testing. The presence of the U.S. in North America has got the region the title of the fastest growing drugs of abuse testing market. Other leading markets for drugs of abuse testing are Germany, Japan, the U.K., and other European economies.

The UNODC (United Nations Office on Drugs and Crime) published a report in 2013, which states that the population of illicit drug users increased from 167 million in 2009 to 315 million in 2011. It represented 3.6% and 6.9% of worldwide adult population in the respective year. Studies have revealed that opiates, opioids, and cannabis are the most commonly consumed illicit drugs.

To combat the rising incidence of drug abuse, numerous organization across Europe and North America are conducting drug screening tests such as random drug or alcohol screening, pre-employment screening, abstinence monitoring, and post-incident screening at various levels. This has propelled the global drugs of abuse testing market significantly. Other factors such as favorable government initiatives supporting drugs of abuse testing, especially in countries such as Australia, Japan, the U.S., and the U.K., have also propelled the global market for drugs abuse testing. Among the segmentation based on sample, drug abuse testing from urine samples holds the largest share of the market. The segment is expected to expand at a 5.0% CAGR between 2013 and 2018. Drugs of abuse testing carried out using saliva and hair specimens has also gained significant impetus in recent times. The commercial availability of on-site screening test kits for drugs abuse testing have further boosted the global drugs abuse testing market.

Browse the full Press Release:
http://www.transparencymarketresearch.com/pressrelease/drugs-abuse-testing-market.htm

The report profiles leading players in the market to measure the market's competitiveness. Some of the companies profiled in the report are LabCorp, Quest Diagnostics, Abbott Laboratories, and Alere. The report identifies Roche Diagnostics as one of the most prominent players in the global drugs of abuse testing market.

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About Transparency Market Research
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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