The Global Drug Screening Market is forecast to reach USD 8.53 Billion by 2027, according to a new report by Reports and Data. Drug testing devices are used to test the level of drug present in the blood. The roadside drug testing devices are typically the compact handheld drug testing devices which make use of the breath specimen of the suspected drivers on the road. According to the US law and enforcements, more than 0.08% of blood alcohol concentration (BAC) can significantly affect the driving skills and possibly can be under criminal penalties. An increased awareness about drunk driving causalities, government supports regulations, and escalating volumes of adoption of the advanced roadside drug testing devices in various law enforcement departments in most of the countries are expected to accelerate the growth of this market.
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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, the growing integration of IoT, ML, and AI in medical procedures and equipment along with rapid progress in drug design and development. A 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 has significantly contributed to the revenue growth of the market.
Reports and Data utilizes a unique approach to research to offer a comprehensive overview of the global Drug Screening Market to offer insights into investment opportunities for stakeholders, investors, clients, and businesses to make informed decisions. The report includes SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis to offer a better understanding of the market scenario.
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Asia Pacific is expected to lead the market growth over the coming years owing to rapid advancements in the healthcare sector in APAC countries such as India, China, and Japan. North America is anticipated to register the highest market growth over the forecast period attributed to the 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.
The 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 RD activities to hamper the market growth
The imposition of strict government regulations and shortage of funds has put a halt on product launches and RD activities and is expected to restrain market growth over the forecast period. In addition, the launch of expensive drugs and therapies and increasing regulations regarding safety and approvals are also hampering the market growth.
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as RD investments, license agreements, partnerships, mergers and acquisitions, collaborations, and joint ventures to gain a robust footing in the market.
Key participants include Alcohol Countermeasure Systems, BACtrack, Inc., MangalIndia.com, Inc., Intoximeters, Inc., Drägerwerk AG, AK GlobalTech Corporation, Envitec Wismar GmbH, Lifeloc Technologies, Alcovisor, and Akers Biosciences, Inc., among others.
Drug Screening Market Segmentation:
Type Outlook (Revenue, USD Billion; 2016-2027)
- Alcosensor III or IV
Sales Channel Outlook (Revenue, USD Billion; 2016-2027)
- Online Retailing
- Medical Stores Brand Outlet
Application Outlook (Revenue, USD Billion; 2016-2027)
- Fuel Cell
- Semiconductor Oxide Sensor
- Infrared (IR) spectroscopy
End-Users Outlook (Revenue, USD Billion; 2016-2027)
- Highway Police
- Drug Enforcement Agency
- Bars or Restaurants Personal Use
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
Latin America (Brazil, Rest of LATAM)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East Africa)
Frequently asked questions addressed in the report:
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