Favorable Regulatory Policies for Drug of Abuse Testing Services Are Boosting Market Revenue Growth

The global drugs of abuse testing services market size is expected to reach USD 3.92 billion by 2028 and register a CAGR of 5.5% according to the latest report by Reports and Data. Growing consumption of alcohol, illegal drugs, and recreational chemicals, increasing awareness about drug of abuse tests and their increasing usage for medical and legal purposes are key factors driving global market revenue growth. 

Access Free sample PDF Copy of the Report @ https://www.reportsanddata.com/sample-enquiry-form/4055 

Drugs of abuse (DOA) testing is a clinical detection method used for detecting one or more drugs by sample testing of various samples such as hair, blood, sweat, urine, and breath. Growing demand for drugs of abuse testing at public and private workplaces and availability of advanced drug abuse testing techniques are boosting global market growth. In addition, increasing government programs to overcome drug abuse, strict government regulations for illicit drug consumption, and rising investments by market players to develop sensitive drug testing kits to detect designer drugs are boosting market growth. 

However, inability of some tests to detect low doses of designer drugs, legalization of illicit drugs in some countries, and absence of clear rules for workplace drugs of abuse testing are some factors that are expected to hamper growth of global drug of abuse testing services market to a certain extent over the forecast period.

Some key highlights in the report:

    • Among the product and services segments, the analyzers segment is projected to account for significant revenue growth between 2021 and 2028 owing to various features such as easy handling and quick and precise screening. 
    • Based on sample type, the urine segment is expected to account for largest market share during the forecast period. In-expensive urine analysis, increasing quantity of sample, and easy access to POC testing are key factors fueling segment growth. 
    • Among the end-use, the forensic laboratories segment is expected to account for substantial revenue growth over the forecast period. Rising prevalence of substance abuse and growing need to detect unknown drugs is fueling segment revenue growth. 
    • Asia Pacific is expected to account for significant revenue growth throughout the forecast period owing to factors, such as rising organization agreements regarding workplace drug of abuse testing, increasing consumption of various drugs, and growing trade of illicit drugs.
    • North America is expected to account for robust revenue growth during the forecast period. High revenue share is attributable to factors, such as increasing cases of substance abuse, government programs to control drug of abuse, and availability of well-established healthcare systems equipped with latest testing kits and services. 

The ongoing pandemic is significantly changing the dynamics of the pharma and healthcare sector. Various countries are facing challenges such as shortage of medicines, vaccines, healthcare devices in hospitals. This is expected to open lucrative growth opportunities for market players in the coming years.

Competitive Landscape:

The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, merger and acquisitions, collaborations, and joint ventures to gain robust footing in the market.

Top Companies Profiled in the Report:

Danaher Corporation, Siemens Healthineers AG, Drägerwerk AG & Co. KGaA, F. Hoffmann-La Roche Ltd, Quest Diagnostics Inc., LabCorp, Abbott Laboratories, and ThermoFisher Scientific Inc., Clinical Reference Laboratory (CRL), Inc., Legacy Medical Services, DrugScan, Omega Laboratories, Inc., Mayo Clinic Laboratories, Precision Diagnostics, American Substance Abuse Professionals (ASAP), Inc., United States Drug Testing Laboratories (USDTL), Inc. and LGC Group.

To know more about the report, visit @ https://www.reportsanddata.com/report-detail/drugs-of-abuse-testing-services-market 

Drugs of Abuse Testing Services Market Segmentation:

Drug Type Outlook (Revenue, USD Billion, 2018 - 2028)

  • Alcohol
  • Cannabis/Marijuana
  • Cocaine
  • Opioids
  • Amphetamine & Methamphetamine
  • LSD
  • Others

Product & Services Outlook (Revenue, USD Billion, 2018 - 2028)

  • Analyzers
    • Immunoassays Analyzers
    • Chromatographic Devices
    • Breath Analyzers
  • Consumables
  • Rapid Testing Devices
    • Urine Testing Devices 
    • Oral Fluid Testing Devices
  • Laboratory Services

Regional Outlook:

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
  • Latin America (Brazil, Rest of LATAM)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Ask for Customize Research Report @ https://www.reportsanddata.com/request-customization-form/4055 

This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.

Explore Latest Trending Research Reports By Reports and Data:

Biobanks Market By Type (Disease-Oriented Biobanks, Population-Based Biobanks), By Storage Type (Manual Storage, Automated Storage), By Product, By Specimen Type And By Application, Forecasts To 2028

Surgical Mask Market Size, Share, Trends, By Material Type (Polypropylene (PP), Cotton, Polyester, Polyurethane), By Product Type, By Distribution Channel, By End-Use, and By Region Forecast to 2030

Respiratory Protective Equipment (RPE) Market By Product Type (Air-Purifying Respirators, Supplied Air-Respirators), By End-User (Healthcare, Oil & Gas, Mining, And Construction), By Distribution Channel (Direct Sales, Retail Sales), And Segment Forecasts, 2017-2027

Atropine Sulfate Market by Type (Injection, Drops, Gel, Tablet), Application Type (Gastrointestinal, Ophthalmology, Others), And Region- Global Forecast To 2027

About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Contact Us:

John W
Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
LinkedIn | Twitter | Blogs

 

Back to news