March 1, 2024
Drug for Abuse Testing Devices Market

The Growing Global Drug Testing Services Market To Boost The Growth Of Drug For Abuse Testing Devices Market

The global Drug For Abuse Testing Devices Market is estimated to be valued at US$ 1.65 Bn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Drug abuse testing devices help detect the presence of drugs or toxic chemicals in biological samples collected from individuals suspected of drug consumption or intoxication. These devices can test samples like urine, blood, sweat, hair, and oral fluids for the presence of drugs and their metabolites. Common drugs that are tested include marijuana, cocaine, amphetamines, opioids, and other prescription medications. Drug abuse testing provides useful information in various settings like workplace, clinical, criminal justice, and pain management to monitor drug use and rehabilitation programs. Regular drug testing can promote drug-free workplace, school, or treatment environment.

Market key trends:

One of the major trends in the drug abuse testing devices market size is the introduction of integrated drug screening systems. These systems help analyze multiple samples simultaneously for various drugs with high sensitivity and specificity. For example, Alere DDS®2 integrates immunoassay, chromatography, and mass spectrometry into a single platform to allow highly accurate drug screening. Growing legality of marijuana in some regions is also fueling the demand for drug testing to monitor cannabis consumption in safety-sensitive jobs like transportation. In addition, increasing awareness about risks of prescription drug misuse has led to higher screening of opioids and benzodiazepines across healthcare and criminal justice settings. Stringent government regulations pertaining to workplace drug testing are further supporting the growth of this market.

Porter’s Analysis

Threat of new entrants: Low barrier for new entrants to enter the market. However, established players have strong brand recognition and distribution network which act as entry barriers for new players.

Bargaining power of buyers: Buyers have high bargaining power due to presence of numerous providers of drug abuse testing devices. Buyers can negotiate on price and demand transparency in test results.

Bargaining power of suppliers: Few major companies dominate the supply market. Suppliers have moderate bargaining power due to differentiated products and patents.

Threat of new substitutes: No major substitute technologies available currently. Alternative drug testing methods have limitations.

Competitive rivalry: Intense competition due to presence of global and regional players. Players compete on parameters like innovation, quality, reliability and services.

Key Takeaways

The global Drug For Abuse Testing Devices Market is expected to witness high growth, exhibiting CAGR of 5.3% over the forecast period, due to increasing drug abuse and stringent laws and regulatory guidelines mandating drug abuse testing.

North America is expected to dominate the global market during the forecast period. Presence of major players, increasing awareness about drug abuse effects, and stringent government regulations are some factors expected to drive the North America regional market. The Asia Pacific market is projected to exhibit the fastest growth rate during the forecast period due to growing healthcare infrastructural development and increasing healthcare spending.

Key players operating in the Drug For Abuse Testing Devices include Quest Diagnostics, Roche Holding AG, Thermo Fisher Scientific, Inc., Siemens AG (Siemens Healthineers), Abbott Laboratories (Alere, Inc.), Shimadzu Corporation, Express Diagnostics International Inc., Dr├Ągerwerk AG & Co. KGaA, Laboratory Corporation of America Holdings. Players compete on parameters like innovation, quality, reliability and after-sales services.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it