Drug of Abuse Testing Market - Key Research Findings
- The global drug of abuse testing market in 2019 is estimated to be valued ~ US$ 1,300
- The drug of abuse testing market is anticipated to grow at a CAGR of ~5% during the forecast period of 2019-2029.
- Immunoassay is expected to remain as the most preferred technique for drug of abuse testing among the healthcare professionals.
- The growth in demand for immunoassays can be primarily attributed to the shift towards the adoption of on-the-spot testing and higher adoption of disposable point of care blood testing devices.
- North America is anticipated to account for ~29% of the revenue shares in the drug of abuse testing market by the end of 2029.
- The drug of abuse testing market in North America is expected to gain increasing popularity over the forecast period, due to rise in number of clinical laboratories offering drugs of abuse testing services in the region along with various favourable government initiatives.
- Forensic laboratories are projected to continue to be the prominent end-user, creating lucrative growth opportunities for drug of abuse testing market players.
- Over the recent past, the use of drug of abuse testing in forensic laboratories has witnessed significant growth. The increased demand for proper testing of individuals using illicit drugs is expected to skyrocket the growth of the drug of abuse testing market.
Key Factors Shaping the Drug of Abuse Testing Market
- Rising Number of Clinical Laboratories
The increasing number of clinical laboratories offering drugs of abuse testing services has been largely contributing to the market growth. Moreover, significant rise in the number of physician laboratories, hospital-based laboratories, independent laboratories and retail clinics for sample collection and performing tests for screening of various drugs are expected to fuel the growth of the drug of abuse testing market.
For instance, Centers for Medicare and Medicaid Services and Department of Health and Human Services in the U.S. have estimated that there were nearly 137,000 clinical laboratories in the U.S. alone in 2015. This number is increasing gradually year by year, due to advancements in the diagnostic industry and growing availability of low-cost equipment. Such factors are likely to play an important role in improving market vendors’ bottom lines as well as growth strategies.
- Transition from Laboratory-based Screening to Disposable Equipment
Due to an elevated price of lab-based screening tests, and the expertise and resource needed in transfer of technique from collection site to the lab, the shift towards the adoption of on-the-spot testing is witnessing a rapid increase. Such factors are anticipated to provide a boost to the growth of the drug of abuse testing market.
Moreover, businesses are also developing new, easy-to-use disposable drug of abuse testing systems at reasonable rates, catering to increasing demand from various end users. Thus, the growth of the drug of abuse testing market is expected to be driven by the growing inclination towards new technologies, over the forecast period.
- Manufacturers Focusing on Awareness Initiatives
In order to increase customer pool, drug of abuse testing providers and manufacturers of the drug abuse test kits are focusing on creating awareness among patients and drug store owners about the effects of drug abuse and importance of drug screening. Various businesses are also providing the law enforcement agencies with instruction on identifying prospective drug and alcohol abusers and information on using drug abuse tests.
For instance, companies such as Quest Diagnostics Inc., Express Diagnostics International Inc. and others are providing training on identification and handling of test drugs through training programs or online services. Thus, such initiatives are expected to create new opportunities and scope for market players to flourish in the drug of abuse testing market.
Drug of Abuse Testing Market Structure Analysis
- The global drug of abuse testing market is a fairly competitive market. Quest Diagnostics, Roche Holding AG, Siemens AG (Siemens Healthineers), and Thermo Fisher Scientific, Inc. are the key players contributing maximum revenue share to the market.
- Business expansion through acquisitions, mergers, partnerships and collaborations are policies pursued by leading participants in the drug of abuse testing market.
- Notable R&D investments for efficient and cost effective testing methods are expected to increase the growth opportunities for the drug of abuse testing market.
- Key players participating in the drug of abuse testing market are Quest Diagnostics, Roche Holding AG, Thermo Fisher Scientific, Inc., Siemens AG (Siemens Healthineers), Abbott Laboratories (Alere, Inc.), Shimadzu Corporation, Express Diagnostics International Inc., Drägerwerk AG & Co. KGaA, and Laboratory Corporation of America Holdings.
- The local and global business participants are benefiting from a significant marketing network of distributors in regional and foreign lands.
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FREQUENTLY ASKED QUESTIONS ABOUT DRUG OF ABUSE TESTING MARKET
Why drug of abuse testing market is expected to evidence mid-single digit growth rate in the future?
Growing abuse of prescription drugs, awareness initiatives from the manufacturers and rise in number of clinical laboratories offering drugs of abuse testing services are the key factors expected to increase adoption of drug of abuse testing among the end-users.
What factors may negatively impact the target market ?
Poor social structure, low awareness related to the effects of drug abuse and weak antidrug policies have failed to create the potential market for drug abuse testing service providers and product manufacturers..
Which type of technique holds the high market potential?
Immunoassay technique is expected to hold the largest share in the market and is expected to continue to do so during the forecast period.
What is the competitive nature of the current drug of abuse testing market?
The drug of abuse testing market is highly consolidated market with leading industry players holding over three fourth of the market.
Which region will lead the global sales of drug of abuse testing market?
North America is currently dominating region in the global drug of abuse testing market and expected to remain at the leading position in the future.
- Rapid Testing
- Diagnostics Laboratories
- Forensic Laboratories
- North America
- Latin America
- Western Europe
- Eastern Europe
- Middle East and Africa