NEW YORK, May 30, 2018 (GLOBE NEWSWIRE) -- The drug of abuse testing market size is expected to grow at a CAGR of 9.6% between 2017-2023, to reach $9.1 billion by 2023. The market is driven by increased adoption at organizational levels, increase in the consumption of illegal drugs, and high production and trade of illicit drugs, worldwide. Also, the global rise in the number of road accidents and death rates, initiatives by government and non-profit organizations to reduce drug abuse levels, and technological advancements are increasing the demand for such products.
Request a sample of this report at: https://www.psmarketresearch.com/market-analysis/drug-of-abuse-testing/report-sample
Technological advancements in drug of abuse testing are leading to their increased acceptance in various settings. There are various technological advancements that have been taking place in the drug of abuse testing that increase sensitivity, reduce consumption of time, and facilitate detection of newly developed designer drugs. The increased use of drug of abuse tests for legal and medical purposes has made it imperative to produce results with high confidence levels. As a result, improvement can be observed in various facets such as chemistry, materials, device and equipment. For instance, smartphone breath analyzers manufactured by BACtrack, Edge Tech Labs and others for measuring breath alcohol content are small in size, portable and can be used to transfer results with the help of wireless technology. Therefore, technological advancements are driving the growth of the global drug of abuse testing market.
The legalization of various drugs is hampering the growth of the drug of abuse testing market. For instance, Oregon and Alaska received full legalization for retail sale and possession of small amounts of marijuana, in November 2014. The legalization of these drugs depends upon the potential risk associated with its consumption. For instance, in the U.S., various groups and people support the legalization of marijuana for medical purposes. Jamaica and Costa Rica have also decriminalized the usage of marijuana for personal consumption. Due to such measures being taken towards legalization of illicit drugs people tend to misuse it and are consuming drugs at a high rate which is in turn affecting the growth of drug of abuse testing market.
Access Report Summary with Detailed TOC on Drug of Abuse Testing Market at: https://www.psmarketresearch.com/market-analysis/drug-of-abuse-testing
Some of the key players operating in the drug of abuse testing market include Danaher Corporation, Siemens AG, Merck KGaA, Drägerwerk AG & Co. KGaA, Express Diagnostics Int'l, Inc., bioMérieux S.A., Waters Corporation, Roche Holding AG, Quest Diagnostics Inc., Laboratory Corporation of America Holdings, Alere Inc., Abbott Laboratories, Randox Laboratories Ltd., Psychemedics Corporation, Bio-Rad Laboratories, Inc., Sonic Healthcare Ltd., and ThermoFisher Scientific Inc.
More Reports by P&S Market Research
Molecular Biology Kits & Reagents and Enzymes Market
Molecular biology kits and reagents and enzymes helps in detecting specific sequences in DNA or RNA. In addition, they help in detection of infectious diseases, genetic disease screening, human leukocyte antigen typing, extraction and purification of nucleic acid and detection of amplified nucleic acid.
Single-Cell Analysis Market
Growing geriatric population, technological advancements in single-cell analysis products, high prevalence of infectious diseases are the important drivers for this market. However, high cost of single-cell analysis products, intellectual property rights issues restrict innovations in assay kits are the key restraints in the growth of the global single-cell analysis market worldwide.
https://www.psmarketresearch.com/market-analysis/single-cell-analysis-market
About P&S Market Research
P&S Market Research is a market research company, which offers market research and consulting services for various geographies around the globe. We provide market research reports, industry forecasting reports, business intelligence, and research-based consulting services across different industry/business verticals.
As one of the top growing market research agency, we’re keen upon providing market landscape and accurate forecasting. Our analysts and consultants are proficient with business intelligence and market analysis, through their interaction with leading companies of the concerned domain. We help our clients with B2B market research and assist them in identifying various windows of opportunity, and framing informed and customized business expansion strategies in different regions.
Contact:
P&S Market Research
347, 5th Ave. #1402
New York City, NY - 10016
Toll-free: +1-888-778-7886 (USA/Canada)
Email: enquiry@psmarketresearch.com