Global Drug Testing Market Analysis Report 2021: Focus on Development of Innovative Testing Solutions - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Oct 5, 2021--
The “Global Drug Testing Market Size, Share & Trends Analysis Report by Product Type (Consumables, Instruments, Rapid Testing Devices, Services), by Sample Type, by Drug Type, by End Use, by Region, and Segment Forecasts, 2021-2028” report has been added to ResearchAndMarkets.com’s offering.
The global drug testing market size is expected to reach USD 11.7 billion by 2028 and is expected to expand at a CAGR of 4.9%.
The introduction of innovative tests, stringent regulation mandating drug testing, and growing substance abuse & addiction are some of the factors anticipated to foster market growth during the forecast period.
Drug abuse and addiction is a global problem, affecting millions of people. As per the World Drug Report published by UNODC, in 2019, around 35.0 million people were suffering from drug use disorders globally.
Such a high rate of drug abuse and substance use disorders has created a major demand for innovative tests to prevent, treat, and manage such cases. Several key players operating in this space are introducing innovative and efficient products to meet this growing demand.
For instance, in June 2019, Quidel Corporation received the U.S. FDA’s 510(k) clearance to market its fluorescence immunoassay-Quidel Triage TOX Drug Screen, 94600. This is intended for detecting the presence of metabolites or drugs in urine.
Moreover, in June 2020, Cordant Health Solutions offered video-observed oral fluid drug testing to help courts & government agencies to monitor participants during the COVID-19 pandemic. This aided in combating several challenges faced by people with substance abuse disorders during the pandemic.
Continuous government initiatives and implementation of strict substance abuse testing regulations to ensure safety have derived the demand for its testing products. In July 2020, the New Zealand government introduced a new bill that provides police the power to conduct random roadside drug testing of drivers to reduce impaired driving in the country.
The new bill allows usage of oral fluid tests to check drivers for substances such as cocaine, ecstasy, cannabis, opiates, methamphetamine, and benzodiazepines. Also, in February 2020, the Directorate General of Civil Aviation in India introduced extensive tests for pilots and flight crew members for psychoactive substances such as opioids & cannabis to ensure safe air travel.
Drug Testing Market Report Highlights
- By product type, the consumables segment dominated the market in 2020, owing to its repetitive use to conduct substance abuse screening
- Based on sample type, the urine samples segment accounted for the largest revenue share in 2020, as it is the most common method of sample collection
- Increased unemployment and economic crisis due to the Covid-19 pandemic has made people more susceptible to substance abuse, thus created lucrative opportunities in the market
- The legalization of marijuana for medicinal as well as recreational use in several countries is anticipated to change the current scenario and may create demand for innovative testing solutions
- Stringent privacy rights in some countries are likely to limit substance abuse testing at workplaces, impeding market growth
- In Asia Pacific, the market is expected to witness lucrative growth over the forecast period as a result of the growing demand for substance abuse testing from emerging economies, such as China and India
Market driver analysis
- Stringent laws mandating alcohol and drug testing
- Increase in government initiatives to monitor substance abuse
- High prevalence of substance abuse
Market Restraint Analysis
- Drug testing is considered a violation of privacy rights in some countries
Market Opportunity Analysis
- Focus on development of innovative testing solutions
- Quest Diagnostics Incorporated
- Quidel Corporation
- F. Hoffmann-La Roche
- Thermo Fisher Scientific, Inc.
- Siemens Healthineers
- Bio-Rad Laboratories, Inc.
- Agilent Technologies, Inc.
- Laboratory Corporation Of America Holdings (Labcorp)
- Dragerwerk AG & Co. KGaA
- Clinical Reference Laboratory, Inc.
- Cordant Health Solutions
- Legacy Medical Services, LLC.
- Omega Laboratories, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/86am7f
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SOURCE: Research and Markets
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PUB: 10/05/2021 12:21 PM/DISC: 10/05/2021 12:22 PM