US Has the Largest and Fastest Growing Drugs of Abuse Testing Market

Globally, the drugs of abuse testing market is witnessing significant growth due to rising awareness of government and non-government organizations towards ill effects of illicit drugs and to control socio-economical losses associated with drug abuse. As a result, this market is expected to grow at a CAGR of about 4.8% during 2013 – 2018.

 

Albany, NY -- (SBWIRE) -- 03/28/2016 -- According to a 2013 report issued by the United Nations Office on Drugs and Crime (UNODC), there were approximately 167million users of illicit drugs such as cannabis, opioids, and opiates in 2009, which grew to 315 million users in 2011. This means that in 2009, 3.6% of the global adult population was consuming one or more illicit drug, which rose to 6.9% in 2011. This rise in the consumption of illicit drugs has led to the demand for drugs of abuse testing. Testing of drugs of abuse can be done at home, educational institutions, or workplace, or at the laboratory using many superior techniques to achieve accurate results.

The market for drugs of abuse testing has grown in recent times owing to mounting concerns over the use of harmful drugs. The research report explains the various factors that drive and restrain the growth of the global market, players operating at various levels, and recommendations by market experts to improve the overall performance of the drugs of abuses testing market.

Read Complete Report @ http://www.mrrse.com/drugs-abuse-testing-market

Overview of the global drugs of abuse testing market

The report indicates that the global market for drugs of abuse testing is forecast to grow at a 4.8% CAGR between 2013 and 2018. The market was worth US$2.6 billion in 2012, and assuming the CAGR holds true, the drugs of abuse testing market will be worth US$3.4 billion by 2018.

The rising production, trade, and consumption of illicit drugs around the world is the primary growth factor that stimulates the drugs of abuse testing market. With an increase in death rate and number of road accidents caused by drug abuse and overdose, there has arisen an urgent need for drugs of abuse testing at various organizational levels. This has boosted the drugs of abuse testing market. In regions such as Europe and North America, companies have begun conducting drug screening tests such as abstinence monitoring, pre-employment screening, post-incident drug/alcohol screening, and random drug/alcohol screening. Government regulations that support the testing of drugs of abuse at workplace have greatly fueled the global market. However, legalization of certain drugs, social inhibitions associated with the testing of illicit drugs, economic upheaval, and cost of testing threaten to hamper the growth of the drugs of abuse testing market over the forecast period.

Read Full Table of Content @ http://www.mrrse.com/drugs-abuse-testing-market/toc

North America is the largest and fastest growing regional market for drugs of abuse testing and is estimated to retain its lead over the coming years. Even though on-site drug testing provides immediate results, laboratory drug screening and testing is most often preferred, since it provides accurate results and an in-depth and analytical perspective. Of the most common specimens used for testing, urine is the largest sample segment and is projected to register a 5.0% CAGR from 2013 to 2018.

Request a Free Sample Copy of the Report @ http://www.mrrse.com/sample/885

Companies mentioned in the research report

The prominent players operating in the drugs of abuse testing market are Thermo Fisher Scientific, LabCorp (Laboratory Corporation of America), Psychemedics Corporation, Abbott Laboratories, Bio-Rad Laboratories, Alere, Roche Diagnostics, Sonic Healthcare, Randox Laboratories, and Quest Diagnostic. Among these, Roche Diagnostics dominates the global drugs of abuse testing market.

About MRRSE
MRRSE stands for Market Research Reports Search Engine, the largest online catalog of latest market research reports based on industries, companies, and countries. MRRSE sources thousands of industry reports, market statistics, and company profiles from trusted entities and makes them available at a click. Besides well-known private publishers, the reports featured on MRRSE typically come from national statistics agencies, investment agencies, leading media houses, trade unions, governments, and embassies.

Follow us @ https://twitter.com/MRRSEmrrse