Dublin, Nov. 06, 2023 (GLOBE NEWSWIRE) -- The "Drug Abuse Testing Market, Size, Global Forecast 2024-2030, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
The global Drug of Abuse Testing Market is expected to reach US$ 10.28 billion by 2030, exhibiting a notable CAGR of 7.54% from 2022 to 2030. This market has seen a surge in popularity in recent years, expanding its application beyond athletics and sports to sectors like business, education, the military, retail, and public spaces.
Innovations in technology have led to more efficient and rapid drug testing methods, with licensed personnel capable of administering tests online and delivering results within minutes. These tests can detect various substances, including pharmaceutical drugs like opioids, sedatives, and stimulants, and are typically conducted using urine, saliva, or hair samples.
The growth of the drug abuse testing market is driven by strict laws mandating drug testing, government initiatives to combat drug abuse, increased alcohol and drug consumption, and the rising mortality rates associated with drug abuse. The market has also benefited from the development of cost-effective testing kits and technological advancements, making drug abuse testing more accessible and efficient.
Key Highlights:
- Global Challenge of Drug Abuse: The global issue of drug abuse, particularly prominent in the United States, has led to increased demand for drug testing. The Centers for Disease Control and Prevention (CDC) initiated campaigns to combat drug overdose fatalities in the US. Modern technology and advanced drug testing products, combined with a rising demand for illicit substances and large-scale drug trafficking, have significantly contributed to the market's growth.
- Youth and Substance Abuse: Statistics reveal a concerning trend, with 14.2% of youngsters aged 12-17 admitting to using alcohol or illicit drugs. The market is responding to this challenge, with companies like Cannabix Technologies Inc. continually improving THC Breath Analyzers for testing purposes.
- Substance Abuse in the US: In the United States, a significant portion of the population, approximately 19.4% or 31.9 million individuals aged 12 and older, has engaged in illicit substance use. This includes illegal drug use and the misuse of prescription medications. With alcohol and tobacco users added, the total number of substance abusers in the US reaches 165 million.
- Cannabis Dominance: Cannabis or marijuana is a dominant category in the drug abuse testing market due to its increasing cultivation and usage worldwide. The changing legal landscape and shifting attitudes toward marijuana have led to a surge in demand for drug testing solutions. This segment's significance highlights its role in shaping drug abuse testing dynamics.
- Workplace Testing: Workplace drug testing has taken the lead in the market due to the global emphasis on maintaining drug-free work environments. Employers worldwide implement stringent drug testing regulations to ensure safety, productivity, and compliance. The workplace sector has witnessed substantial growth as awareness of the negative effects of substance abuse on work performance has increased.
- China's Rising Role: China has emerged as a global player in the drug abuse testing market. Its cost-effective services and high-quality technologies have contributed to its growing prominence in the industry. China's efforts to meet the increasing global demand for reliable drug screening solutions have propelled it to international recognition.
The drug abuse testing market encompasses various segments, including products and services, sample types, drug types, and end users, reflecting the diversity and complexity of this growing sector.
Prominent Companies in the Drug Abuse Testing Market:
- Danaher Corporation
- LabCorp
- Abbott Laboratories
- Quest Diagnostics
- Thermo Fisher Scientific Inc.
- F. Hoffmann-La Roche Ltd.
- Bio-Rad Laboratories Ltd.
- Medtronic PLC
As the market for drug abuse testing continues to evolve and expand, these companies play a significant role in providing essential services and technologies to address the challenges posed by substance abuse.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $6.18 Billion |
| Forecasted Market Value (USD) by 2030 | $10.28 Billion |
| Compound Annual Growth Rate | 7.5% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/c1c9rm
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