Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’. According to the report, the global drugs of abuse testing market was valued at US$ 4.6 Bn in 2018 and is projected to expand at a CAGR of 5.7% from 2019 to 2027.
Overview
Illicit drug consumption is largely a youth phenomenon, gradually increasing through teens and reaching peak in persons aged 18 to 25. Abuse of drugs and alcohol has negative consequences on society and poses a significant burden on the workplace and health care systems.
North America dominated the global drugs of abuse testing market in 2018 and the trend is anticipated to continue during the forecast period. Highly structured health care industry, increased usage of illicit drugs, and introduction of the Affordable Care Act in the U.S. are expected to drive the market in North America.
Moreover, North America is also likely to be a highly lucrative market for drugs of abuse testing and it is expected to expand at a high CAGR during the forecast period
Get a sample of the report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=54426
Rise in law enforcement spending for illicit drug interdiction and growing impact of drug and alcohol abuse on public health to Drive Market
Governments across the world have increased expenditure on law enforcement agencies aimed toward drug interdiction through mandatory screening of potential illicit drug abusers. For instance, in the U.S., the Office of National Drug Control Policy spent US$ 31.1 Bn for illicit drug control in 2015 in order to reduce drug use and its consequences.
Substance abuse has high impact on the health of individuals and their families. According to United Nations World Drug Report (2016), an estimated 1 in 20 adults aged between 15 and 65 used at least one drug in 2014. Moreover, over 29 million drug users suffer from substance use disorders leading to high health consequences.
Analyzers Segment to Dominate Market
Based on product type, the global drugs of abuse testing market has been divided into analyzers, rapid testing devices and consumables. The analyzers segment has been bifurcated into immunoassays analyzers, chromatographic devices and breath analyzers.
The analyzers segment dominated the global drugs of abuse testing market in 2018 and the trend is projected to continue during the forecast period. Increase in use of analyzers to accelerate the growth of the segment. Increase in the popularity of breath analyzers is also major factor for to boost the market growth.
Request For Custom Research @ https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=54426
Further, the rapid testing devices segmented into urine testing devices and oral fluid testing devices and consumables divided into fluid collection devices and others.
Work Place Screening to be Highly Lucrative Segment
In terms of testing type, the global drugs of abuse testing market has been classified into pain management testing, criminal justice testing and work place screening.
The work place screening of abuse testing segment dominated the drugs of abuse testing market owing to rise in trend of evaluating employees for drug abuse testing at workplaces in order to enhance productivity in business and avoid workplace related injuries.
North America to Dominate Global Market
In terms of region, the global drugs of abuse testing market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global drugs of abuse testing market in 2018, followed by Europe.
North America accounted for major share of the global drugs of abuse testing market in 2018, increased consumption of illicit drugs and the penetration of insurance plans for costly diagnosis tests, making it one of the largest markets in terms of revenue
According to CDC, approximately 10.6% of the U.S. population aged 12 years and above consumed illicit drugs in 2016.
Competitive Landscape
The global Drugs of abuse testing market is fragmented in terms of number of players. Key players in the global market include Alere Inc., Laboratory Corporation of America Holdings, Roche Diagnostics, Thermo Fisher Scientific Inc., Drägerwerk AG & Co. KGaA, Siemens Healthineers, Express Diagnostics International Inc. and Shimadzu Corporation among others
Make an Enquiry before Buying @ https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=54426
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
For More Research Insights on Leading Industries, Visit Our YouTube Channel and hit subscribe for Future Update – https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ
Contact
Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com
