ID: MRFR/Pharma/1398-CR | 92 Pages | Published By Rahul Gotadki on October 2019
Drug of Abuse Testing Market to register a CAGR of 7.9% and reach a value of USD 9419.56 Million by 2030.
$9419.56 Million
7.9%
North America
2022-2030
Drug of Abuse Testing Market Overview
The drug of abuse testing market size is expected to reach USD 9419.56 Million by 2030 at 7.9% CAGR during the forecast period 2022-2030. The present-day modern lifestyle so adopted by the people pushes them to consume drugs and then after it leads to drug abuse. The government has carried out DOA testing for preventing illegal activities by drug abuse.
COVID 19 ANALYSIS
The outbreak of COVID had a great impact on the drug of abuse testing market. The government announced isolation and quarantine to those people who were suffering from COVID or had traveled from other parts of the region. Isolation and quarantines had a bad impact on the drug abusers. Lockdown and shutdown measures so imposed t6o avoid the spread of Corona led to the rise in abuse of drugs and alcohol. Drug abusers during the time of COVID were highly dependent on healthcare and public organizations to decrease the health outcomes among the population. This showed that the drug of abuse testing market was severely affected during the time of the pandemic.
MARKET DYNAMICS
MARKET SEGMENTATION
REGIONAL ANALYSIS
The North American market is expected to cover a large area of market share. Here the government is taking serious steps against the drug abusers. Likewise, the government is taking serious steps for monitoring the symptoms and to determine the intensity of drugs in a body. America is the world's most dominant market due to the increase in the usage of drugs. Testing drugs is an important part of every organization, transportation, corporate sector, and many others. European regions like France, Germany, United Kingdom, Spain, Italy are said to be the second most dominant religion throughout the market. The anti-drug drive is in high demand due to an increase in road accidents done by alcoholic and drunk people. Asia-Pacific countries include the regions of China, India, Australia, and Brazilian regions where a hike in the drug of abuse testing market was marked and stringent rules and regulations were put forward by the government.
COMPETITIVE LANDSCAPE
Rising drug of abuse testing market services by adopting different market trends made the key players compete with other market players. The key players have worked by adopting different products and have made a good product portfolio. They have used drug abuse test market technology and have launched new substances for covering large market shares. Some of them are Abbott Laboratories, Quest Diagnostics Incorporated, Express Diagnostics, Thermo Fisher Scientific Inc., Siemens AG, Pfizer, Drager Work KG, and Co KGAA, Orasure, Hoffmann La-Roche AG, Premier Biotech, MPD, Alfa Scientific Designs, SureHire, LifeLock, Omega Laboratories, CannAmm, Shimadzu, Psychemedics, Laboratories Corporation of America Holdings(LabCorp), Randox Laboratories, Sonic Healthcare, Bio-Rad Laboratories and many more. These companies along with government organizations have planned various strategies that may lead to the adoption of the drug of abuse testing devices market. This pharma company has been investing large sums of revenue in discovering new drugs for the treatment of various diseases.
RECENT DEVELOPMENTS
REPORT OVERVIEW
The report on the drug abuse testing market gave insights into the research and also gave a good analysis of the drugs and drug industry. It gives insights into the market scenario and makes a good evaluation of its current trends which has a great impact on future growth. It gives a piece of good information about the factors that increases the opportunities of the market and the factors that drive the market size. It also signifies the challenges faced by the drug abuse testing market. The report gives a good analysis of the market segments that helps in driving the drug abuse screening test market. It gives insights into the competitive outlook of the regions and the key players operating in the market. The report shows the importance of drug abuse screening tests for the population who always wants to adopt a healthier lifestyle and guide the public to avoid consuming drugs and other additives.
Report Attribute/Metric | Details |
---|---|
Market Size | USD 9419.56 Million |
CAGR | 7.9% |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Historical Data | 2020 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Type of Test, Sample |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | Abbott Laboratories, Quest Diagnostics Incorporated, Express Diagnostics, Thermo Fisher Scientific Inc., Siemens AG, Pfizer, Dragerwerk AG & Co. KGAA, OraSure, Hoffmann-La Roche AG, Premier Biotech, Alfa Scientific Designs, MPD, SureHire, Lifeloc, Omega Laboratories, CannAmm, Shimadzu, Psychemedics, Laboratory Corporation of America Holdings (LabCorp), Randox Laboratories, Sonic Healthcare, Bio-Rad Laboratories. |
Key Market Opportunities | New product launches and R&D Amongst major key Players |
Key Market Drivers |
|
The drug of abuse testing market is projected to grow at a 7.9% CAGR between 2022-2030.
Abbott Laboratories, Quest Diagnostics Incorporated, Express Diagnostics, Thermo Fisher Scientific Inc., Siemens AG, Pfizer, Drager Work KG, and Co KGAA, Orasure, Hoffmann La-Roche AG, Premier Biotech, MPD, Alfa Scientific Designs, SureHire, LifeLock, Omega Laboratories, CannAmm, Shimadzu, Psychemedics, Laboratories Corporation of America Holdings(LabCorp), Randox Laboratories, Sonic Healthcare, Bio-Rad Laboratories are the key players in the market
The drug of abuse testing market is predicted to touch USD 9419.56 Million by 2030.
Increased use of drug testing, rising consumption of illegal drugs, and increase in road accidents are boosting market growth.
Social issues related to drug abuse testing may limit market growth.