Drug of Abuse Testing Market Size, Top Key Players, Latest Trends, Regional Insights and Global Industry Dynamics By 2029 | Quest Diagnostics, Roche Holding AG & So on…
Drug of Abuse Testing Market Study: Government Initiatives and Enforcement of Strict Laws to Offer Tailwinds
According to a recently published report by Future Market Insights (FMI), the global drug of abuse testing market was valued at US$ 1.3 Bn in 2019. Enforcement of legislation of alcohol and drug (A&D) testing and an increase in the number of disorders related to overconsumption of illicit substances are expected to boost the market growth, during the forecast period 2019-2029. Additionally, numerous government initiatives to reduce ill effects of substance abuse at workplace and number of accidents caused by excessive consumption of illicit drug are likely to contribute to growth of the drug of abuse testing market.
The drug of abuse testing market is anticipated to grow at a CAGR of ~5% during the forecast period of 2019-2029.
Governments Put Emphasis on Drug Free Workplace
For companies, the risk of hiring a person who is a drug addict manifests in several different ways, as there is a significant loss of productivity. Due to reduced productivity of such individuals, numerous employers emphasize implementing acts that will reduce the number of incidents associated with drug intake. For instance, the U.S has stringent laws for drug abuse, and mandates alcohol and drug testing by executing the Drug-Free Workplace Act. The objective of this act is to identify employees who require treatment to overcome their drug consumption. By addressing this issue, employers can improve their safety, productivity, and morale. In addition, India has taken the drug of abuse testing seriously, by making it a mandated process for all the employed individuals in the country. For instance, in an attempt to ensure that pilots and ATC officers are not high on drugs, the Directorate General of Civil Aviation (DGCA) introduced tests to check pilots, flight attendants, and ATC officers for psychoactive substances.
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Cannabinoids Remain Highly Consumed Drug
In 2019, cannabinoids accounted for more than 28% of the total revenue share of the drug of abuse testing market. Cannabis is the largest consumed drug across the globe, particularly in North America and European countries. Legalizing marijuana for recreational purposes is the major reason for increased consumption of cannabis. Furthermore, physicians providing treatment to senior citizens through pain management are prescribing several drugs of abuse testing such as narcotics, which is a lucrative business for physicians in order to obtain reimbursement from services such as Centers for Medicare and Medicaid Services (CMS). Owing to this, the consumption of narcotics across the globe is witnessing a significant rise.
- Rapid Testing
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- Diagnostics Laboratories
- Forensic Laboratories
- North America
- Latin America
- Western Europe
- Eastern Europe
- Middle East and Africa
North America Leads Global Drug of Abuse Testing Market
As of 2019, North America held 30% of the total revenue share of the global drug of abuse testing market. Drug abuse is a serious problem that can lead to legal, health, and financial problems, and North America is witnessing the same problem in recent years. Therefore, government of the United States is executing various initiatives to monitor the symptoms and to determine whether a population is abusing drugs. For counter-acting drug abuse in the U.S., Patients and Communities Act of 2018 is the latest law implemented by the government.
Table Of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
2.3. Inclusions and Exclusions
3. Market Background
3.1. Macro-Economic Factors
3.1.1. Growing Impact of Drug and Alcohol Abuse on Public Health
3.1.2. Rise in Law Enforcement Spending for Illicit Drug Interdiction
3.2. Forecast Factors – Relevance & Impact
3.2.1. Rise in Number of Clinical Laboratories offering Drugs of Abuse Testing Services
3.2.2. Awareness Initiatives from the Manufacturers
3.2.3. Rising R&D investments
3.2.4. Drug Abuse Testing Regulation
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3.3. Market Dynamics
3.3.3. Opportunity Analysis
4. Global Drug of Abuse Testing Market Demand (Size in US$ Mn) Analysis 2014-2018 and Forecast, 2019-2029
4.1. Historical Market Value (US$ Mn) Analysis, 2014-2018
4.2. Current and Future Market Value (US$ Mn) Projections, 2019-2029
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Drug of Abuse Testing Market Analysis 2014-2018 and Forecast 2019-2029, by Drug Type
5.1. Introduction / Key Findings
And So On…
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