Drug of Abuse Testing Market Size to Expand at 5% CAGR during 2021-2031; Rising Burden of Drug Use Disorders to Continue Multiplying Sales: FMI

Drug of Abuse Testing Market Size to Expand at 5% CAGR during 2021-2031; Rising Burden of Drug Use Disorders to Continue Multiplying Sales: FMI

PR Newswire

DUBAI, U.A.E., Nov. 18, 2021

A recent study on drug of abuse testing market by Future Market Insight (FMI) provides insights into micro and macroeconomic factors, impacting key developments in the market. It analyzes prevailing trends and forecasts sales projection across various segments in terms drug types, technique, and end user for the coming decade.

DUBAI, U.A.E., Nov. 18, 2021 /PRNewswire/ -- As per a detailed study by FMI, the global Drug of Abuse Testing Market size is estimated to total US$ 1.5 Bn in 2021. Introduction of analyzers for multi-drug detection at a single run and implementation of employment medical screening practices are projected to favor the demand in the market. On account of this, the drug of abuse testing market is anticipated to expand at a CAGR of 5% over the forecast period 2021-2031.

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Growing consumption of alcohol and illicit drugs has led to a significant rise in prevalence of substance use disorders across the world. According to the United Nations Office on Drugs and Crime (UNODC), nearly 35 million people are suffering from substance use disorders (SUDs), globally, in 2021. The increasing burden of SUDs is underpinning the importance of adequate testing and abuse detection, which is in turn, propelling the demand for drug of abuse testing systems.

Governments across several countries are adopting various initiatives to monitor and combat substance abuse. For instance, the U.S. Government announced allocating US$ 10 Bn to the Department of Health and Human Services (HHS) to expand access to drug abuse prevention, treatment and recovery services. Through this, they intended to combat the opioid epidemic. Such initiatives are estimated to spur the sales of drug of abuse testing systems by 6.40% year-over-year between 2020 and 2021.

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On the basis of end user, forensic laboratories are anticipated to emerge as the dominant segment in the market. Surging demand for accurate testing of individuals consuming illegal substances and illicit drugs is a chief factor driving the growth in the market.

"Launch of novel technologies to detect the use of drugs in real-time and increasing adoption of these systems for on-ground epidemiologic investigations across high-priority areas of concern are expected to fuel demand for drug of abuse testing tools," says a FMI analyst.

Key Takeaways from Drug of Abuse Testing Market Study

Key Drivers

Key Restraints

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Competitive Landscape

As per FMI, leading players in the global drug of abuse testing market are estimated to account for nearly 50% to 55% of the overall revenue share during the assessment period.

Companies operating in the market are focusing on research and development (R&D) to launch novel testing systems that are more effective and accurate. Besides this, some of the players are aiming at acquisitions, partnerships, mergers, strategic collaborations to optimize their distribution channels and expand their global footprint. For instance:

Some of the key players operating in the market profiled by FMI are:

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More Valuable Insights on Drug of Abuse Testing Market

The latest report by FMI provides a detailed analysis of the global drug of abuse testing market. It also offers credible insights into key factor driving the market through 2021 and beyond. The study discloses growth projections on drsug of abuse testing market with detailed segmentation:

By Drug Type:

By Technique:

By End User:

By Region:  

Key Questions Covered in the Report

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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