Drugs of Abuse Testing Market to Exhibit Moderate 4.8% CAGR, Favorable Government Initiatives to Steer Global Market
Transparency Market Research has announced the publication of a new research report that discusses the various trends and dynamics governing the global drugs of abuse testing market. The research report, titled “Drugs of Abuse Testing Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2018,” includes Porter’s five forces analysis to try to understand the threat of new entrants, the threat of substitute products or services, the bargaining power of suppliers, the intensity of competitive rivalry, and the bargaining power of customers. The report tries to ascertain the efforts taken by non-governmental organizations and government bodies to increase awareness about drug abuse amongst various socio-economic classes. The report also includes SWOT analysis to determine the strengths, weaknesses, opportunities, and threats influencing the segments of the global drugs of abuse testing market.
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According to the research report, the global drugs of abuse testing market is expected to rise at a moderate CAGR of 4.8% during the 2013-2018 period. The growth of the global drugs of abuse testing market will be attributable to the socioeconomic losses due to the use of illegal drugs across the globe. Furthermore, the sincere efforts taken by several governments to minimize the use of these drugs and to help those abusing it will also propel the overall market. The increasing production and consumption of illicit drugs has been pinpointed as the primary cause of drug abuse by researchers. To counter these dangerous habits and illicit trade, several nations are now adopting strict drugs of abuse testing methods, thereby augmenting the global drugs of abuse testing market. The only restraint faced by this market is the unfortunate stigma associated with the testing of illicit drugs.
The global drugs of abuse testing market is segmented on the basis of technology, location, sample, and geography. The technologies used in this market are immunoassay and chromatography. Depending on location, this market is segmented into laboratory drug tests and on-site screening tests. Samples of drugs are collected through urine, hair, saliva, and others. Geographically, this market is segmented into Europe, North America, Asia Pacific, and Rest of the World.
The drugs of abuse testing market has a strong foothold in North America and Europe, as countries in these regions are keen on promoting drug screening tests, including pre-employment screening, abstinence monitoring, random drug or alcohol screening, and post-incident screening at various levels. Furthermore, government initiatives in countries such as Australia and Japan for drugs of abuse testing will also drive the overall market in the coming years.
Some of the important players in the global drugs of abuse testing market are Thermo Fisher Scientific, Psychemedics Corporation, LabCorp (Laboratory Corporation of America), Abbott Laboratories, Roche Diagnostics, Alere, Sonic Healthcare, Randox Laboratories, Quest Diagnostic, and Bio-Rad Laboratories. The research report provides a comprehensive outlook of the overall market and also explains the competitive landscape of the global drugs of abuse testing market. It also provides accurate and exact information pertaining to the regulatory framework governing the overall market. The management styles, research and development activities, product portfolio, joint ventures, strategic mergers and acquisitions, and investment outlook of these companies have been studied in this market research report.
Full Research Report on Global Drugs of Abuse Testing Market: