Global Narcotics Scanner Market: Growth, Trends and Forecast (2018-2023) - Increasing Investments in R&D Activities is Spurring Growth - ResearchAndMarkets.com
The "Global Narcotics Scanner Market: Growth, Trends and Forecast (2018-2023)" report has been added to ResearchAndMarkets.com's offering.
The narcotics scanner market is expected to record a CAGR of over 6% during the forecast period of 2018-2023.The rising instances of trafficking of cocaine, heroin, etc, have augmented the demand for narcotic scanners in multiple industries, such as law, aviation, and military. As a result, the adoption rate of narcotics scanners is on the rise, to scan and monitor people and luggage, prevent permanent losses, and ensure the safety of people.
However, issues related to lack of investments from the transport operators are estimated to hinder the growth of the market, during the forecast period.
Increasing Need for Immediate Response to Catastrophic Attacks
Various law enforcement agencies, such as Phoenix (Arizona) Police Department, are implementing sophisticated narcotics analysis technologies that are designed to improve the safety and welfare of the communities they protect and serve. With the emergence of cannabinoids (K2, spice), dibutylone, and synthetic cathinones (bath salts) that are visually indistinguishable from one another in the market, there is a dire need to deploy narcotic scanners to restrict the unauthorized movements of drugs.
Asia-Pacific Poised to Record the Fastest Growth
The Asia-Pacific segment is projected to record the fastest growth in the narcotics scanner market, owing to the increasing inflow of investments for the development of the transit sector, particularly airports. The escalation in the production and use of amphetamines and synthetic drugs, in economies, such as China, Singapore, and Vietnam, is anticipated to play a crucial role in the growth of the market studied.
Moreover, the UN Office on Drugs and Crime reported a massive seizure of 287 million methamphetamine tablets in East Asia, which has raised concerns related to excessive usage of drugs in China, Singapore, and Malaysia. These factors are further expected to drive the demand for narcotic scanners, in order to support the prosperity of countries.
Market Developments through 2017-2018
- OSI Systems Inc. facilitated Albanian Customs and State Police, in seizing 1,350 lbs. of cocaine being smuggled into Albania. The narcotics were detected by Rapiscan Eagle scanning systems, operated by the company's Albania subsidiary.
- Smiths Detection Inc. launched IONSCAN 600, the first explosive trace detection system to be approved on the TSA Air Cargo Screening Technology List (ACSTL), to ensure the security of cargo aboard airplanes. The IONSCAN 600 is a portable desktop trace detection system that detects minute quantities of explosives, in addition to narcotics (such as fentanyl), within seconds.
Key Topics Covered
1.1 Key Study Deliverables
1.2 Market Definition
1.3 Study Assumptions
2. Research Methodology
3. Executive Summary
4. Narcotics Scanner Market Insights
4.1 Narcotics Scanner Market Overview
4.2 Porter's Five Forces Analysis
4.3 Industry Value Chain
5. Narcotics Scanner Market Dynamics
5.1 Narcotics Scanner Market Drivers
5.1.1 Increasing Investments in R&D Activities for Narcotics Scanners
5.1.2 Rising Need for Immediate Response to Catastrophic Attacks
5.2 Narcotics Scanner Market Restraints
5.2.1 Lack of Investments from Transport Operators
6. Global Narcotics Scanner Market Segmentation
6.1 By Product Type
6.2 By Technology
6.2.1 Ion Mobility Spectrometry Technology
6.2.2 Contraband Detection Equipment
6.2.3 Videoscope Inspection System
6.3 By End-user Industry
6.3.2 Public Transportation
6.3.3 Defense and Military
6.3.5 Law Enforcement
6.3.6 Critical Infrastructure Access Control
6.4 By Geography
6.4.1 North America Narcotics Scanner Market (2018-2023)
6.4.2 Europe Narcotics Scanner Market (2018-2023)
6.4.3 Asia-Pacific Narcotics Scanner Market (2018-2023)
6.4.4 Latin America Narcotics Scanner Market (2018-2023)
6.4.5 Middle East & Africa Narcotics Scanner Market (2018-2023)
7. Competitive Intelligence - Company Profiles
7.1 Argos Security Services Inc
7.2 LaserShield Systems Inc
7.3 L-3 Communications Security and Detection Systems Inc
7.4 Bruker Corporation
7.5 Safran SA
7.6 OSI Systems Inc
7.7 FLIR Systems Inc
7.8 Aventura Technologies Inc
7.9 Smiths Detection Inc
7.10 KeTech Group Limited
7.11 Klipper Enterprises
7.12 Chemring Group PLC
7.13 MATRIX Security and Surveillance Pvt Ltd
7.14 Teknicom Solutions Ltd
7.15 Mistral Solutions Pvt Ltd
List Not Exhaustive
8. Investment Analysis
9. Future of the Global Narcotics Scanner Market
For more information about this report visit https://www.researchandmarkets.com/research/qnz2s6/global_narcotics?w=4
View source version on businesswire.com: https://www.businesswire.com/news/home/20181129005391/en/