Drug Screening Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
Global Drug Screening Market: Snapshot
Most drug addicts find it difficult to wean themselves away from the fatal substance and require a protracted therapy for that. And the pace with which the substance abuse problem has become increased, means that such therapies are gaining traction. An important part of it is the drug screening process which has seen its market grow steadily owing to the increasing number of drug addicts around the world.
Going forward, the drug screening market is expected to rise further because of the formulation of strict rules and regulations to curb the menace. Those mostly include mandatory drug and alcohol testing. Increased government spending on such devices is serving to benefit the market. Another factor that is stoking the drug screening market is the swift approval and launch of more sophisticated products owing to the constant thrust on product development by keen players. However, on the flipside, ban of consumption of alcohol in many Islamic nations, prohibition of workplace drug testing in many organizations, and inaccuracy of breathalyzers at times is posing a challenge to growth in market.
Going forward, oral fluid testing will open up new frontiers of growth for players in the market. Yet another channel of growth would open up because of fingerprint-based drug screening.
Currently, North America and Europe account for maximum share in the drug screening market. This is because of organizations such as Drug Enforcement Administration (DEA) in place in the U.S. and various stringent regulations in North American and European countries. In the next few years, however, emerging economies of Asia Pacific will power market growth because of the mushrooming small and medium drug treatment institutions in the region. Most of the savvy players are turning their gaze towards the region in order to grow further.
Global Drug Screening Market: Overview
Drugs are the number one cause of premature death across the world and despite tight security measures at the borders, a number of governments are failing to contain this expanding issue. Now, several governments are adopting screen methods to test potential addicts on the run time as well as encouraging corporate organizations to introduce workplace check-ups. Consequently, the demand in the global drug screening market is poised to expand a notable CAGR during the forecast period of 2017 to 2025.
This report on the global drug screening market is an all-inclusive business intelligence study that showcases its lucrativeness. Compiled by a group of professional research analysts, the report aims to aid as a reliable guide for targeted audiences such as drug and alcohol testing laboratories, manufacturers of testing product and equipment, rapid drug screen device manufacturers, healthcare providers, law enforcement agencies, government agencies, and venture capitalists. Starting with an executive summary that includes overview of how the demand for drug screening has evolved in the recent past and where it is headed, the report dives into the analysis of various market dynamics, such as trends, drivers, opportunities, and challenges. The report also divides the drug screening market into logical segments and determines the potential of demand that can be expected out of various regions and countries. Finishing up a thorough study, the report includes an extended and featured section on the competitive landscape of the global drug screening market, wherein a number of key vendors have been profiled for their product portfolio, business establishment, and recent strategic decisions.
Global Drug Screening Market: Trends and Opportunities
Some of the key factors driving the demand in the global drug screening market are: enforcement of stringent laws that mandate drug and alcohol testing in a number of countries, and growing consumption of drug and alcohol and inflicted community issues, presence of government funding in major markets. In addition to that, a number of new products, devices, and services have gained regulatory approvals, and are gaining adoption among both government agencies and corporate organizations. On the other hand, ban on alcohol consumption in a number of countries that follow Islam ideologies, prohibition of workplace drug testing in some countries, and issues pertaining to accuracy and specificity of breathalyzer are a few restraints obstructing the drug screen market from flourishing.
Global Drug Screening Market: Market Potential
The vendors operating in this market are expected to gain new opportunities is they transform their business strategies towards oral fluid testing and develop the concept of fingerprint-based drug screening. Additionally, market players are expected to make a foray into the emerging economies to find new consumers.
Global Drug Screening Market: Regional Analysis
North America and Europe are the two most profitable regions in the global drug screening market. In the developed country of the U.S., government has its Drug Enforcement Administration (DEA) in place since long that readily adopts new products that helps them curtail the ubiquity of drugs. Similar controlling measures are taken in a number of European countries such as the U.K., Germany, and France. However, the emerging economies in Asia Pacific, wherein small and medium enterprises are mushrooming, are expected to turn the region into a lucrative one towards the end of the forecast period.
Global Drug Screening Market: Competitive Landscape
Siemens Healthineers, Drägerwerk, Alere, Alfa Scientific Designs, Thermo Fisher, Roche, Shimadzu, MPD, Inc., OraSure, Lifeloc, LabCorp, Psychemedics, Quest Diagnostics, Omega Laboratories, SureHire, CRL, and CannAmm are a few key players currently ahead of the curve in the global drug screen market.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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