Drug of Abuse Testing Market - Market Share, Growth 2020: Acute Market Reports


Posted September 18, 2015 by poonam

According to a recent report by Acute Market Reports, Global Drug of Abuse Testing Market is expected to reach $3.9 Billion by the end of 2020
 
Drug of abuse testing is based on diagnosing drug addiction, also called substance use disorder, requiring a thorough evaluation and often includes an assessment by a psychiatrist, a psychologist, or a licensed alcohol and drug counselor. Blood, urine or other lab tests are used to assess drug use, but they're not a diagnostic test for addiction. These tests may be used for monitoring treatment. The testing technologies consist of immunoassay technique and chromatography technique, used for both onsite as well as laboratory testing.

[b]Key findings of Drug of Abuse Testing Market:[/b]

• The global drug of abuse testing market is expected to reach $3.9 billion in 2020, mainly driven by increased use of illicit drugs and need of drug abuse testing at organizational level.
• Onsite testing market is more than double the size of laboratory testing market due to ease of use, cost effectiveness and immediate results.
• Urine followed by saliva is the most common specimen used in the drug of abuse testing. Hair, as a specimen, is also becoming a more effective way for testing long term drug use.
• North America was the largest market by geography for drug abuse testing in 2014, with 76.4% share of the total market. It was followed by Europe with 16.4% share and Asia with a 4.7% share of the total market.

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The use of illicit drugs is rising every year globally and has become a big concern for countries including the U.S., the U.K. Japan, Germany, India and China. Illicit drugs in use include heroin, cannabis, cocaine, ecstasy and amphetamine. With a rapid increase in drug trafficking, the need for drugs for abuse testing has been on rise. There are several factors driving the drug of abuse testing market, such as increased drug testing needs at the organizational level, a global rise in the use of illegal drugs and increase in the consumption of illicit drugs.

On the other hand, the drug of abuse testing market is impacted by social concerns attached with workplace drug testing and legalization of various illicit drugs. In November 2012, Colorado and Washington State legalized possession of small amounts of marijuana for private recreational use.

According to data from the UNODC and European crime-fighting agency Europol, the annual global drugs trade is worth around $435.0 billion a year, with the annual cocaine trade worth $84 billion.

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On the basis of type of tests, the market is divided into laboratory testing and onsite testing. Laboratory based tests requires skilled and trained personnel for providing detailed analysis. Whereas, onsite drugs of abuse testing provide immediate results. And on the basis of sample used for testing, urine is the preferred sample type. Hair, oral fluid and sweat are the other preferred samples used for drugs of abuse testing.
Major Competitors: Roche Holding Limited, Quest Diagnostics, Laboratory Corporation of America Holdings, Alere, Inc., Abbott Laboratories, Randox laboratories, Psychemedics Corporation, Bio-Rad Laboratories, Sonic Healthcare and Thermo Fisher Scientific are the major players in the global drug of abuse testing market.

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[b]eport Coverage[/b]

• Provides comprehensive understanding of the market with the help of informed market outlook, opportunities, challenges, trends, size and growth, competitive analysis, major competitors and Porter analysis
• Identifies the key drivers of growth and challenges of the key industry players. Also, assesses the future impact of the propellants and restraints on the market
• Uncovers potential demands in the market
• Porter analysis identifies competitive forces within the market
• Provides information on the historical and current market size and the future potential of the market
• Provides sizes of key regional markets using yardsticks of processes, segments, products, end user and technology, etc (as applicable)
• Highlights the competitive scenario of the market, major competitors, market share, benchmarking, investments and merger & acquisitions
• Provides profiles of major competitors of the market including details of their operations, product and services, recent developments and key financial metrics.
• Profiles provide better understanding of competition as well as the demands of the market.

[b][u]About Acute Market Reports[/u][/b]
Acute Market Reports is the most sufficient collection of market intelligence services online. It is your only source that can fulfill all your market research requirements. Acute Market Reports provide online reports from over 100 best publishers and upgrade Acute Market Reports collection regularly to offer you direct online access to the world’s most comprehensive and recent database with expert perceptions on worldwide industries, products, establishments and trends. Acute Market Reports database consists of 200,000+ market research reports with detailed & minute market research.

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Issued By Acute Market Reports
Website Global Drug of Abuse Testing Market 2020
Country India
Categories Health , Marketing , News
Tags drug of abuse testing market , drug of abuse testing market size , global drug of abuse testing market
Last Updated September 18, 2015