Albany - NY, July 29, 2015 (GLOBE NEWSWIRE) -- Socioeconomic losses triggered by use of illicit drugs have raised global concerns. Government and non-government agencies of several nations have adopted several initiatives to curb the increasing incidence of drug abuse. This is expected to give momentum to the global drug abuse testing market. According to a report published by Transparency Market Research, the global drugs abuse testing market is projected to exhibit moderate expansion at a 4.8% CAGR between 2013 and 2018. The report is titled "Drugs of Abuse Testing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2018" and is available on Transparency Market Research's website for sale. Not just production but trade of illicit drugs has also increased, which has spurred illicit drug consumption substantially. To counter the escalating consumption of illicit drugs, drugs of abuse testing is now being adopted at organizational levels. Additionally, the report mentions that the increasing death rates and rising number of road accidents due to drug abuse is expected to boost the global drugs of abuse testing market considerably.
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However, the society is yet to discard the stigma associated with the testing of illicit drugs, which is why the drugs of abuse testing market is encountering numerous obstacles. Complications associated with legalization of various drugs, cost concerns, and economic volatility are other factors which could emerge as potential threats to the market. Among the key geographical segments of the global drugs of abuse testing market, North America has demonstrated impressive growth in the adoption of drugs of abuse testing. The presence of the U.S. in North America has got the region the title of the fastest growing drugs of abuse testing market. Other leading markets for drugs of abuse testing are Germany, Japan, the U.K., and other European economies.
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The UNODC (United Nations Office on Drugs and Crime) published a report in 2013, which states that the population of illicit drug users increased from 167 million in 2009 to 315 million in 2011. It represented 3.6% and 6.9% of worldwide adult population in the respective year. Studies have revealed that opiates, opioids, and cannabis are the most commonly consumed illicit drugs.
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To combat the rising incidence of drug abuse, numerous organization across Europe and North America are conducting drug screening tests such as random drug or alcohol screening, pre-employment screening, abstinence monitoring, and post-incident screening at various levels. This has propelled the global drugs of abuse testing market significantly. Other factors such as favorable government initiatives supporting drugs of abuse testing, especially in countries such as Australia, Japan, the U.S., and the U.K., have also propelled the global market for drugs abuse testing. Among the segmentation based on sample, drug abuse testing from urine samples holds the largest share of the market. The segment is expected to expand at a 5.0% CAGR between 2013 and 2018. Drugs of abuse testing carried out using saliva and hair specimens has also gained significant impetus in recent times. The commercial availability of on-site screening test kits for drugs abuse testing have further boosted the global drugs abuse testing market.
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The report profiles leading players in the market to measure the market's competitiveness. Some of the companies profiled in the report are LabCorp, Quest Diagnostics, Abbott Laboratories, and Alere. The report identifies Roche Diagnostics as one of the most prominent players in the global drugs of abuse testing market.
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Companies mentioned in the research report
The prominent players operating in the drugs of abuse testing market are Thermo Fisher Scientific, LabCorp (Laboratory Corporation of America), Psychemedics Corporation, Abbott Laboratories, Bio-Rad Laboratories, Alere, Roche Diagnostics, Sonic Healthcare, Randox Laboratories, and Quest Diagnostic. Among these, Roche Diagnostics dominates the global drugs of abuse testing market.
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Segmentation based on technology
Segmentation based on location
- On-site screening test
- Laboratory drug test
Segmentation based on sample
Major geographies analyzed under this research report are:
- North America
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Browse All Other Pharmaceutical Market Research Reports: http://www.transparencymarketresearch.com/pharmaceutical-market-reports-1.html
Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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Source:Transparency Market Research