According to a new market research study titled ‘Drug Abuse Testing Market to 2027 – Global Analysis and Forecasts by Product, Sample Type and End User.’ The global drug abuse testing market is expected to reach US$ 9,393.17 Mn in 2027 from US$ 5,783.71 Mn in 2018.
Global drug abuse testing market, based on sample type, was segmented as, urine, saliva, blood and others. In 2018, urine segment led the market by the sample type. In addition, the segment is also expected to grow at a fastest rate, due to cost-effective, easy, and quick method.
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The market is estimated to grow with a CAGR of 5.7% from 2019-2027. The report highlights the trends prevalent in the global drug abuse testing market and the factors driving the market along with those that act as deterrents to its growth.
Apart from inorganic growth strategies, the companies have also adopted organic growth strategies such as, product launch & development and expansion during recent years. For instance, Beckman Coulter Diagnostics announced the addition of 6-Acetylmorphine (6-AM) and Buprenorphine (BUP) assays to its broad menu of drugs-of-abuse tests that meet the demands of onsite testing laboratories.
This implies a bright picture of the type of strategies majorly incorporated by the market players to retain their positions as well as to generate increased growth revenue in the drug abuse testing market. The global leaders in the market have been majorly adopting strategies such as mergers & acquisitions and agreements as key strategies to improve its product offerings in order to build up customer-centric benefits to its end users and enhance its geographic diversification.
Some of the notable players in the global drug abuse testing market include, Redwood Toxicology Laboratory (Abbott), F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific, Inc., OraSure Technologies, Inc., UCP Biosciences, MEDACX Ltd., Beckman Coulter, Inc. (Danaher), Alcolizer Pty Ltd., Wondfo, DRÄGERWERK AG & CO. KGAA, American Screening Corporation, Inc, Mercedes Medical, Alfa Scientific Designs, Inc., Express Diagnostics Int’l, Inc., Omega Laboratories, Inc. and Laboratorio Sodré. The major market players within recent years have been observed to invest a substantial amount towards the development of new products
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