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.
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Global Drugs of Abuse Testing Market to be worth US$6,781.6 mn by 2025
The analysts of this TMR report have evaluated that the global drugs of abuse testing market was worth approximately US$4,443.9 mn in 2017 and by the end of 2025, future opportunities are expected to translate into a revenue of US$6,781.6 mn. During the forecast period of 2017 to 2025, the demand in the global drugs of abuse testing market is projected to increment at a CAGR of 5.4%.
Based on product type, the TMR report segments the drugs of abuse testing market into analyzers, rapid testing devices, and consumables. The analyzers segment is further sub-segmented into immunoassay analyzers, chromatographic devices, and breath analyzers, whereas rapid testing devices have been bifurcated into urine testing and oral fluid testing. Consumables are divided into fluid collection devices and others. Based on sample type, the market has been categorized into breath, saliva, blood, urine, and hair and sweat. Testing type bifurcation of the market has been done into paint management testing, criminal justice testing, and workplace screening. The report also evaluates the potential of demand that can be expected from the end users in hospitals, diagnostics laboratories, on-the-spot testing, and forensic laboratories. Geographically, North America and Europe have been identified as the two most profitable regions.
Government Initiatives for Workplace Drug Testing Driving Demand
According to the National Institute of Drug Abuse, more than 115 US citizens die as a result of opioid overdose every day. The country has been taking vigorous efforts to curtail this growing concern and consequently, the demand for equipment and instruments that can test the presence of drugs of abuse is increasing. Similar adoption is also being noticed in some of the European regions including the U.K., France, and Germany. Governments in these countries are also encouraging the corporate sectors to provide for work place drug tests in order to hold the escalating percentage of drug addicts. The mushrooming of diagnostic laboratories, improving healthcare infrastructure in several emerging economies, and prevalent demand for prohibited drugs are some of the other factors augmenting the demand in the global drugs of abuse testing market.