Global Drugs of Abuse Testing Market: Snapshot
According to the United Nations Office on Drugs and Crime, nearly five percent of the global adult population consumed some sort of prohibited drug at least once in 2015. That percentage escalates steeply if we consider it within the U.S., a country that has been marred by the cases of substance abuse for several decades. Similar incrementing numbers are being observed in European nations too and as a result, resilient measures are now being undertaken by respective governments to overcome this cause of premature death among the adults. Consequently, the global drugs of abuse testing market is flourishing, with the demand projected to expand at a notable CAGR of 5.4% during the forecast period of 2017 to 2025. The analysts of the report have evaluated that there were opportunities worth US$4,443.9 mn in the global drugs of abuse testing market in 2017. By the end of the aforementioned forecast period, 2025, the valuation of the market is estimated to swell up to US$6,781.6 mn.
The market for drugs of abuse testing, which can be an in-house or onsite examination of drugs within a human body, is gaining traction from a number of factors such as advancements in technology of analyzers, increasing availability of forbidden drugs, and growing emphasis on work place screening among the urban populations. The advent of testing devices that are overcoming the need for a sample of saliva, urine, or blood to be taken to a laboratory is foreseen as a major boon for the drugs of abuse testing market. On the other hand, lack of awareness regarding the availability of advanced drug testing devices and its consideration as a violation of privacy rights in some countries are a few restraints hampering the growth of the market.
The U.S. to Sustain North America as the Most Lucrative Region
Geographically, the global drugs of abuse testing market has been categorized into five regions: North America, Europe, Asia Pacific, Latin America and Middle East and Africa. North America accounted for a 49.3% of the total demand in 2016, followed by Europe. Demand for rapid testing devices in North America is high as the government is regularizing the rules and regulation for illicit drugs consumption. By the end of 2025, the North America drugs of abuse testing market is estimated to be worth US$3,467.2 mn, expanding at an above-average CAGR of 5.8% during the forecast period of 2017 to 2025.
Thermo Fisher Scientific Inc., Siemens Healthineers, F. Hoffmann-La Roche Ltd., Drägerwerk AG & Co. KGaA, Laboratory Corporation of America Holdings, Danaher Corporation (Beckman Coulter, Inc.), and Abbott Laboratories are some of the key players that have been profiled in this report.