(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Aug. 13, 2024 (GLOBE NEWSWIRE) -- The "Drug Abuse Testing Market Report By Drug Type, Product & Services, Sample Type, End Users Countries and Company Analysis 2024-2032" report has been added to ResearchAndMarkets.com's offering.
Global Drug Abuse Testing Market Analysis
Drug Abuse Testing Market will attain US$ 11.87 billion by 2032, up from US$ 6.17 billion in 2023, with a CAGR of 7.53% between 2024 and 2032.
Strict rules and guidelines pruned at work places, educational institutions and sports activities organizations are the key factors for the growth of the drug abuse testing market. Various industries require the implementation of drug testing in order to maintain a safe as well as an environmentally sustainable workplace. Schools alongside other institutions such as faculties and faculties on the similar method hire drug testing as a strategy of discouraging learners from taking drugs. Besides, it will be important for the corporations related to sports to look into furthering fair competition and safeguarding the health of the athletes. Any regulation tends to always cover drug testing offerings, to ensure both adherence to the standards specified as well as safety of the delivery to different categories of consumers.
Increasing concern for the effects of drugs on fitness and the value of the early identification of the issue to encourage to recover stimulates the drug abuse test market. It is important to stress that tasks within the sphere of public health activity and popularization of awareness campaigns disregard complete programs of substance abuse prevention and cure and include regular drug testing.
This facility proposes the use of drug testing to track patient improvement and adherence to the prescription regimens offered by healthcare sellers and rehabilitation facilities. Such endeavors, backed by governmental and non-governmental bodies, cultivate a preventive strategy to managing as well as minimizing the consequences of substance dependence, essentially popularizing the market for drug testing services.
The versatility in drug testing technologies has a lot to do with the boost of growth the market has undergone through. They have relations to the refinement of various facets of the drug testing process be it precision, efficiency, or user-friendliness. For instance, the development in such drug testing products as the rapid testing kits has escalated by providing speedy and accurate results. Moreover, the development of the non-invasive tests, which include saliva and hair checks, has provided other options concerning people that are subjected to drug testing.
Moreover, the incorporation of strategies in virtual health systems for effects tracking and reporting has enhanced the full drug testing procedure's ease and feasibility. Such advancements have helped to decrease the time taken in getting the look at effects and increase the users' compliance with the testing procedures. Furthermore, those advancements have rendered it possible to increase the options of the drug testing packages in various facility types, ranging from scientific facilities or chemistry-based testing to home testing services. These improvements have dramatically transformed the drug testing further that makes it more efficient and flexible in any healthcare and non-healthcare organizations.
Asia Pacific Drug Abuse Testing Market
The drug abuse testing market in the Asia Pacific is steadily rising on account of the enhancing cost of substance related issues and more emphasis on early diagnose and prevent techniques. Countries like China, India, and Japan have witnessed an increase in the cases of the abuse of drugs hence leading the governments and the companies to adopt strict drug testing measures in workplaces, colleges, and rehabilitation centers. New testing techniques that are faster than urine testing and the new drug testing kits also drive this market by offering accurate and quick results.
Asian drug abuse testing market is emerging because of advancement in health care facilities, rising position in public health tasks pertaining to funding, complicity between government agencies and private companies and the implementation of drug testing in regulation enforcement and forensic programs.
Drug Abuse Testing Company Analysis
Some of the giant companies that have made a mark in the drug abuse testing industry include Danaher Corporation, LabCorp, Abbott Laboratories, Quest Diagnostics, Thermo Fisher Scientific Inc, F. Hoffmann-La Roche Ltd., Bio-Rad Laboratories Ltd. and Medtronic Plc. These groups provide a wide range of drug testing products such as testing kits, laboratories, and new electronics and chemical for drug identification and analysis. These contributions facilitate maintaining safe places of work, policing duties, and health risk assessment processes.
Drug Abuse Testing Company News
In February 2024, OraSure Technologies Inc. (OSUR) highlighted solid financial performance during its profit call, with increased operating income, expanded gross margins, and a robust cash balance. In February 2024, Veriteque (US) and OraSure Technologies (US) agreed to a distribution deal for SwabTek test kit products. OraSure's oral fluid screening solutions will complement Veriteque's SwabTek brand presumptive field test kits. In December 2023, Quest Diagnostics (US) launched a new confirmatory testing service for novel psychoactive substances (NPS). The panel tests cover 88 different compounds from various drug classes, including synthetic cannabinoids, designer stimulants, opioids, benzodiazepines, fentanyl analogs, and other additives found in illicit drugs.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 240 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $6.17 Billion |
| Forecasted Market Value (USD) by 2032 | $11.87 Billion |
| Compound Annual Growth Rate | 7.5% |
| Regions Covered | Global |
Key Players Analysis: Business Overview, Product Portfolio, Recent Development & Strategies, Revenue Analysis
Danaher Corporation LabCorp Abbott Laboratories Quest Diagnostics Thermo Fisher Scientific Inc. F. Hoffmann-La Roche Ltd. Bio-Rad Laboratories Ltd. Medtronic Plc.
Product & Services - Market breakup in 4 viewpoints
Analysers Rapid Testing Devices Consumables Laboratory Services
Sample Type - Market breakup in 5 viewpoints
Urine Oral Fluid Breath Hair Others
Drug Type - Market breakup in 7 viewpoints
Alcohol Cannabis/Marijauna Cocaine Opioids Amphetamine & Methaphetamine LSD Others
Country - Market breakup of 25 Countries
North America United States Canada Europe France Germany Italy Spain United Kingdom Belgium Netherland Turkey Asia Pacific China Japan India South Korea Thailand Malaysia Indonesia Australia New Zealand Latin America Brazil Mexico Argentina Middle East & Africa Saudi Arabia UAE South Africa
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Drug Abuse Testing Market
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