The global drug testing equipment market is expected to register a market value of US$ 5.2 billion in 2023 and is projected to accumulate a valuation of US$ 16.4 billion by exhibiting a CAGR of 12.1 % in the forecast period 2023 to 2033. The Drug Testing Equipment market registered a growth of 7.1 % CAGR in the historical period 2018 to 2022.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 5.2 billion |
| Projected Market Value in 2033 | US$ 16.4 billion |
| Growth Rate (2023 to 2033) | 12.1% CAGR |
The increasing use of alcohol among young adults and the elderly, abuse of prescribed medicinal drugs, and increasing usage of opioids and other illegal drugs are the main factors driving the drug testing equipment market. The burgeoning cases of illegal drug consumption and mounting crime rates related to drug abuse are further driving the demand for drug testing devices.
In addition, during the COVID-19 pandemic, mental health issues were on the rise which lead to increased drug abuse among a few people which boosted the demand for drug testing devices. Likewise, drug traffickers have bounced back from previous setbacks caused by the lockdown and are now becoming more active in their drug abuse practices as it became easy due to digital currency transactions that work beyond the traditional financial system allowing increased anonymity. Therefore, the demand for drug testing and screening equipment is expected to rise.
Also, with marijuana or cannabis being the most commonly used illegal substance in a few markets, the demand for its testing kits and equipment is bound to increase. Apart from this, almost all sports organizations across the globe have stringent regulations on drug abuse since substance abuse and the use of performance-enhancing substances are becoming a trend in a few regions. Thus, many sports bodies like the International Olympic Committee (IOC), the International sports federation (ISF), and other sporting bodies have incorporated the mandatory drug testing procedure for participants before taking part in the sporting event. This trend will directly fuel product demand in the coming years as well.
Besides this, intense competition among the manufacturers working on launching new drug testing devices in a broad range of categories is grabbing a big portion of the market. Furthermore, advances in technology are significantly fuelling the sales of these pieces of equipment. On the other hand, the launch of new drug abuse testing equipment makes presumptive drug testing as simple as alcohol testing with a preliminary breath tester. Intelligent Fingerprinting is a subsidiary of the University of East Anglia in the United Kingdom which developed this technology to ease up the testing procedure.
This technology works by looking for metabolites of cocaine, cannabis, and opiates in perspiration present in a latent fingerprint. A metabolite is a substance formed when a drug is broken down or metabolized in the body. The researchers believe it can be further modified to detect other drugs as well like methamphetamine and MDMA. The testing method comprises coating the fingerprint in an antibody-covered particle microfluidic solution. The solution changes color when the antibodies bind to the drug and its metabolites.
Geographically, North America is expected to lead the drug testing equipment market by commanding over 46.4% market share by end of the forecast period. The growth is attributed to a strong presence of industry players implementing expansion strategies and strict norms for workplace testing. In addition, favorable reimbursement policies and the growing adoption of technologically advanced solutions in the region are further supplementing the market growth.
The market in Asia Pacific is expected to witness a significant CAGR of 10.8% during the forecast period due to the surging demand for drug and substance abuse screening from emerging economies, such as India and China. Further, the growing prevalence of drug abuse disorders, drug-related crimes, and a surge in road accidents is expected to propel the demand for drug testing devices in this region.
Recent developments and breakthroughs in technology, mergers, acquisitions, collaborations, and partnerships within the companies involved in manufacturing drug testing equipment are anticipated to create new avenues for market expansion during the forecast period.
According to latest research by Future Market Insights Research, The Drug Testing Equipment Market is set to witness a thriving growth in forecast period 2021-2031 registering a CAGR up to 17%.
The reason for this is increasing consumption of drugs and alcohol in the young and old generation, and the stringent laws imposed by the government which includes mandatory testing of drug and alcohol, fund raising by government in major market etc. The Addiction of drugs and alcohol is the major reason for the growth of market.
The Existing market players are focusing Constantly on Innovation and upgradation in the technologies and efficiency of product used for Drug testing equipment.
The laws imposed by the governments which makes drug test and alcohol test compulsory in several regions drives the demand for the market.
The Test carried out in hospitals and clinics before any surgery or if patients suffer from any problem also helps in boosting the growth of the market. The increase in urine sample segmentation test boosted the market growth.
The introduction of new technologies such as rapid testing kits which makes the testing easier and gives the accurate result to the patient within no time, these advancement drives the demand of the market.
In Covid-19 pandemic the growth of market Had and positive impact on the drug testing kit market, the prevalence in the use of rapid testing kits the market was growing consistently in upward direction, there was an invention of Fingerprint-based drug testing which has gained its ground due to Covid-19 pandemic.
USA and Canada are the region where the investment related to research & development, Addition of technologies, strategic improvements, and others are more superior than other regions and hence the reason for the Table topper of the market.
The technological advancement in healthcare sector is high in this region and the presence of well-established key players drives the growth of the market in the region. Rise in consumption of Narcotic drugs, increase in government funding to Early detection of drug abuse, and the presence of laws supporting drug testing, and growing incidence of accidents due to unsafe level of consumption of alcohol rise the demand of market.
Europe is enjoying at the second spot where several factors like automation and better technical inclusion and Scope is present. European healthcare professionals are very innovative and advanced hence there is increase in demand for the drug testing equipment. Europe has some established key players in the market and many emerging and rising stars of the Drug testing equipment industry are rising every year this boosts the demand of the market.
The Asia Pacific region has better prospect in growing with a high rate of CAGR in the coming years as the regional market will witness several changes in the healthcare sector. China is leading producer of drug testing kits in the Asia-Pacific region which helps the growth of the region. The increasing expenditure on the healthcare sector in the region leads to boost for demand in region.
According to FMI analysis
are identified as the key players of the Drug testing equipment market.
VANTEC Europe rolls out with International fingerprinting for logistics and warehousing operations needed in fingerprint drug testing across the region.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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Drug Testing Equipment Market
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