Drug for Abuse testing devices help detect the presence of drugs in biological samples such as urine, blood, saliva, hair, and sweat at the point of collection. These devices offer quick and easy testing with accurate results. The global Drug for Abuse Testing Devices Market is estimated to be valued at US$ 1.91 Bn in 2023 and is expected to exhibit a CAGR of 9.0% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
The end sentence is formated as The global drug for abuse testing devices Market is estimated to be valued at US$ 1.91 Bn in 2023 and is expected to exhibit a CAGR of 9.0% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing prevalence of drug abuse across the world is a key factor driving growth of the drug abuse testing devices market. According to the United Nation's World Drug Report 2021, around 273 million people, or 5.5% of the global population aged 15–64 years, used drugs worldwide in 2019. Amphetamines, opioids, and cannabis continue to account for the largest numbers of people who use drugs worldwide. Hair testing is expected to gain more traction in the drug abuse testing devices market during the forecast period owing to its ability to detect drug use from up to 90 days prior to testing.
Segment Analysis
The global drug for abuse testing devices market can be segmented based on type and end users. Within type, the rapid-testing devices segment holds the largest market share as they are widely used owing to the quick and convenient test results. These devices can provide results within a few minutes without the need for any laboratory services.
Key Takeaways
The global Drug for Abuse Testing Devices Market Growth is expected to witness high growth over the forecast period. The market is projected to grow at a CAGR of 9% during 2024-2031 and reach a value of US$ 4.27 Bn by 2031.
Regional analysis: North America currently dominates the global market and is expected to continue its lead over the forecast period as well. The region accounts for over 35% of the global market share due to stringent laws regarding drug testing and growing substance abuse. The Asia Pacific region is expected to witness the fastest growth over the coming years supported by growing awareness regarding harmful effects of drug abuse and increasing investments by key players in emerging countries.
Key players: Key players operating in the drug for abuse testing devices market are JRD Cycling, Castelli Cycling, Giro Sport Design, Champion System, Conquest Cycle Wear Ltd., 2XU Pty. Ltd., Endura Limited, Isadore Apparel, Rapha Racing Limited, Attaquer Pty Ltd., Lumiere Cycling, Panache Cyclewear Co., Cadence Collection, Voler Inc. JRD and Castelli Cycling lead the market with their wide product portfolio and global presence.
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The new research report titled "Drug Abuse Testing Market, Global Industry Analysis, and Forecast to 2027" gives a detailed analysis and future forecasts of the market.
The report highlights the significant players, including market size, share, and demand, development.
This report further covers the latest trends, technological advancements, and growth opportunities.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Drug Abuse Testing Market Research Report" by requesting FREE Sample Copy athttps://www.valuemarketresearch.com/contact/drug-abuse-testing-market/download-sampleMarket DynamicsThe rapid increase in the number of substance abusers and people consuming illicit drugs will stimulate this market's growth.
Mandatory guidelines for workplaces and schools to conduct drug abuse testing on suspicious candidates will benefit market growth.
Extensive use of drug abuse testing for medical screening, Legal or forensic information, Sports/athletics testing, and in Monitoring pain medication use will boost the market growth.
