The global Drug Testing Market is forecasted to reach USD 15.72 Billion by 2027, according to a new report by Reports and Data. The growing demand from emerging markets will help the Drug Testing Market maintain a stable growth rate over the forecast period. The progress of the global Drug Testing Market is mainly driven by stringent government rules and regulations and the increasing number of alcohol drug abuse cases. The low-cost breathalyzers in developing economies are also fueling the expansion of the market over the forecast period.
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Due to the pandemic, there are high chances of disruption in the supply chain and influence ingredients and raw material supplies. The financial crisis can let people shrink their expenses, which can lead to a decrease in the demand for alcohol and drugs. The reduction in demand will relatively affect the sales of the Alcohol Breathalyzer and Drug Testing kits. The other factor that can hinder the sales of the Alcohol Breathalyzer and Drug Testing packages is the high price points of the testing kits and the inaccurate results produced by the breathalyzers. The technological advancements of the breathalyzers will lead to more efficient and enhanced breathalyzers in the future
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The pharma and healthcare industry is expected to observe significant growth over the coming years attributed to the increasing incidence of chronic diseases across the globe, growing geriatric patient pool, availability of advanced and minimally invasive surgical and diagnostics procedures, favorable reimbursement scenario, and presence of a robust product pipeline of drugs and therapeutics. In addition, growing integration of IoT, ML, and AI in medical procedures and equipment along with rapid progress in drug design and development. Combination of innovation and technology has brought about massive changes in the healthcare industry and the rapid adoption of telemedicine, remote consultation, and e-prescription have significantly contributed to the revenue growth of the market.
Asia Pacific is expected to lead the market growth over the coming years owing to rapid advancements in healthcare sector in APAC countries such as India, China, and Japan. North America is anticipated to register highest market growth over the forecast period attributed to increasing availability of robust healthcare and clinical settings, legalization of medical marijuana, favorable reimbursement scenario, presence of key market players, and rapid technological advancements in the region.
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Further key findings from the report suggest
- The government's strict rules and regulations on alcohol and drug abuse cases are driving the Drug Testing Market. Also, the increasing consumption of alcohol and drugs is adding up to the growth of the market. Companies are embracing more eco-friendly and bio-degradable straw materials that can be recycled, renewed, and reused.
- North America has dominated the Drug Testing Market over the forecast period. The federal governments of the countries in North America are the most significant contributors to the market. Many American companies have started using testing kits due to safety concerns in the workplace. Moreover, as alcohol can affect work output and damage the company's reputation in front of the clients, they have started adopting the testing kits over the forecast period.
- The Asia Pacific registered a higher growth rate over the forecast period, along with Europe. The Drug Testing Market of Asia Pacific is boosted by the excessive usage of the testing Kits by the officials and also in transport and construction sites.
- The global Drug Testing Market is adopting some wiser strategies to say competitive in between the growing demand of the testing kits. Collaborations have been observed between prominent brands to increase their product portfolio and enter new markets. Companies adopt effective marketing and branding strategies to hold the position of the products in the competitive market.
- Key participants include Drägerwerk AG & Co. KGaA, Lion Laboratories Limited, LifeLoc Technologies Inc., BACtrack, C4 Development Ltd., Andatech Private Limited, Quest Products Inc., Alere Inc., Intoximeters and Soberlink, Inc., among others.
For the purpose of this report, Reports and Data have segmented the global Drug Testing Market on the basis of equipment, end-users, application, and region:
- Equipment Outlook (Revenue, USD Billion; 2017-2027)
- Semi-conductor based Breathalyzer
- Intoxilyzer (IR)
- Chromatographic Instruments
- Hair Testing Devices (Kits)
- Urine Testing Devices
- Oral Fluid Testing Devices (Saliva)
- Fuel cells based Breathalyzer
- Immunoassay Analyzers
- End Users Outlook (Revenue, USD Billion; 2017-2027)
- Federal Departments
- Hospitals
- Private Sectors
- Rehabilitation Centers
- Others
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Drug Detection
- Alcohol Detection
- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- S.
- Canada
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
- North America
Growing popularity of over-the-counter medications driving market growth
Growing incidence of acute and chronic diseases and lesser access to advanced medical facilities owing to low disposable income levels are driving the demand for over-the-counter medications. Availability of generic and low-cost alternatives to medical therapies are some other factors playing a major role in driving demand for over-the-counter medications.
Restriction on product launches and R&D activities to hamper market growth
Imposition of strict government regulations and shortage of funds have put a halt on the product launches and R&D activities and are expected to restrain market growth over the forecast period. In addition, launch of expensive drugs and therapies and increasing regulations regarding safety and approvals are also hampering market growth.
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