Global Drugs of Abuse Testing Market is Expected to Surge at a CAGR of 5.3% from 2016 to 2024

Drugs of Abuse Testing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast upto 2024 The global drugs of abuse testing market is dominated by players such as Laboratory Corporation of America Holdings, Thermo Fisher Scientific Inc., Drägerwerk AG & Co. KGaA, Roche Diagnostics, Express Diagnostics International Inc., Alere Inc., Shimadzu Corporation, and Siemens Healthcare.

A rising number of companies operating in the diagnostics sector are likely to enter the drugs of abuse testing market in the coming years due to the steady availability of lucrative opportunities. The widespread demand for drugs of abuse testing procedures and sophisticated equipment is likely to ensure a high degree of fragmentation within the global drugs of abuse testing market in the coming years.

According to Transparency Market Research (TMR), the global drugs of abuse testing market is likely to exhibit a robust CAGR of 5.3% between 2016 and 2024. The market, valued at more than US$4 bn in 2016, is expected to rise to a valuation of US$6.4 bn by the end of 2024.

Criminal Justice Systems Likely to Retain Dominance in Drugs of Abuse Testing Market By application, the global drugs of abuse testing market is segmented into criminal justice systems, workplace screening, and pain management testing. Of these, criminal justice systems are likely to

remain the key consumers in the global drugs of abuse testing market in the coming years due to the widespread government support to eradication of drug use. The economic damage caused by illicit drug use is the key concern behind the importance of criminal justice systems to the global drugs of abuse testing market.

Browse Full Research Report on Drugs of Abuse Testing Market: http://www.transparencymarketresearch.com/drugs-abuse-testingmarket.html Urine testing is the most commonly used mode of drugs of abuse testing.

The clear signs of drug use in urine have led to urine testing becoming a crucial element of the global drugs of abuse testing. Urine and saliva testing collectively accounted for more than two-thirds of the global drugs of abuse testing market in 2015, with urine testing accounting for more than 40% of the market.

Regionally, the global drugs of abuse testing market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is likely to retain steady dominance in the global market over the coming years, accounting for close to half of the global drugs of abuse testing market through the forecast period.

While the regulatory framework in some Asia Pacific and Latin American countries is yet to catch up with the illicit drug trade, Europe is likely to account for a key share in the global drugs of abuse testing market. The steady illicit drug trade in Latin America could, however, drive the demand from the Latin America drugs of abuse testing market in the coming years.

Rising Government Support Crucial for Global Drugs of Abuse Testing Market The prime driver for the global drugs of abuse testing market is the proactively supportive stance adopted by most governments in terms of regulating illicit drug trade and drug abuse. This has led to financial as well as regulatory incentives to the incorporation of drug abuse testing protocols, leading to steady demand from the global drugs of abuse testing market. The corporate sector has also become a major consumer of drugs of abuse testing in recent years, as drug habits of employees represent a significant economic as well as legal risk for companies.

On the other hand, the growing populist support for the legalization of drugs such as marijuana, allied to the existing legal status of extremely harmful drugs such as alcohol and tobacco, has complicated the path of the global drugs of abuse testing market. The upheaval caused by legalization movements could be an influential factor for the global drugs of abuse testing market, as it could lead to entire product lines becoming redundant due to legalization of the drug they were designed to detect.

The information in this preview comes from a TMR report titled ‘Drugs of Abuse Testing Market (Products - Analyzers (Immunoassays Analyzers, Chromatographic Devices, and Breath Analyzers), Rapid Testing Devices (Urine Testing Devices and Oral Fluid Testing Devices), and Consumables (Fluid Collection Devices); Sample - Saliva, Breath,

Urine, Blood, Hair, and Sweat; Testing - Pain Management Testing, Criminal Justice Testing, and Work Place Screening; End User Forensic Laboratories, Diagnostic Labs, On-the-spot Testing, Hospitals, and Forensic Laboratories) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.’

Browse Full Press Release on Drugs of Abuse Testing Market: Press Release

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