The latest market report published by Acute Market Reports “Global Drug Abuse Testing Screening Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 - 2023,” the drug abuse testing/screening market was valued at USD 3,303.4 Mn in 2015, and is expected to reach USD 4,555.9 Mn by 2023, expanding at a CAGR of 4.6% from 2016 to 2023.
Browse the full report Drug Abuse Testing/Screening Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2023 at https://www.acutemarketreports.com/report/drug-of-abuse-testing-screening-market
Market Insights
The American Society of Addiction Medicine (ASAM) suggests that, the most important contribution of the scientific study of addiction in the last half century has been the new understanding of the neurobiology of brain reward. In addition, the article titled “An Overview of Present and Future Drug Testing”, authored by David M. Martin and published in The Journal of Global Drug Policy and Practice explains that, over the past 30 years drug testing has evolved from a series of obscure laboratory tests to a multibillion dollar global industry that is constantly observed in day to day life. Drug of abuse testing is related to diagnosis of drug addiction that requires a thorough evaluation and mainly comprises assessment by a psychiatrist, a psychologist, or a licensed alcohol and drug counselor. The samples used for drug testing are blood, oral fluids, urine or others. The testing technologies consist of immunoassay technique and chromatography technique, used for both onsite as well as laboratory testing. On the basis of type of location, the market is segmented into laboratory-based screening and onsite screening. Laboratory based tests requires skilled and trained personnel for providing detailed analysis. Whereas, onsite drugs of abuse testing provide immediate results. The key factors assisting the growth of drug of abuse testing market are globally rising consumption of illicit drugs, adoption of drug of abuse (DOA) testing at organizational level, increased production of illicit drugs and their trade and increasing death rates/road accidents due to drug abuse.
Market Competition Assessment
The drug of abuse testing or screening market is observed as the most diversified and competitive market comprising large number of players. The market is dominated by several players, depending on their major competencies. The key players in this market are Roche Holding Limited, Quest Diagnostics, Laboratory Corporation of America Holdings, Alere, Inc., Abbott Laboratories, Randox laboratories, Psychemedics Corporation, Bio-Rad Laboratories, Sonic Healthcare and Thermo Fisher Scientific.
Key Market Movements
