June 17, 2024

Drug For Abuse Testing Devices Market Is Driven By Increasing Drug Abuse Cases

Drug abuse testing devices are used to determine the presence of drugs or their metabolites in an individual’s biological system. These devices help to detect the presence of illegal and prescription drugs like cannabis, heroin, cocaine, amphetamines, benzodiazepines, and others in urine, saliva, sweat, or hair samples. Drug abuse testing is mainly employed in workplaces, in the criminal justice system, and in sports competitions. Owing to the growing abuse of illegal drugs like cannabis, opioids, cocaine, and increasing social acceptance of recreational drug use, a pressing need has arisen globally to effectively monitor and control substance abuse. Drug abuse has detrimental health, social, and economic effects. It is associated with risky behavior, accidents, absenteeism at work, and lower productivity.

The global Drug For Abuse Testing Devices Market is estimated to be valued at Us$ 1.65 Bn In 2023 and is expected to exhibit a CAGR Of 9.0% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the key trends in the drug abuse testing devices market is portable and easy-to-use devices. These portable devices allow for easy on-the-spot testing. For example, hair testing devices have been miniaturized which allows for easy portability. These handheld devices provide instant testing and eliminate the need to send test samples to laboratories. They give results within 10-15 minutes and are highly accurate. Technological advancements have made these devices compact, portable, and easy-to-use which is fueling their adoption. For example, devices are available that can test urine or saliva samples and immediately provide color-coded results for various drug categories like opioids, cocaine, amphetamines, and marijuana. Their easy portability allows for widespread use in workplaces, schools, sporting events, and other applications.

 

Porter’s Analysis

Threat of new entrants: The growing market size and demand for abuse testing devices attracts new players in the market. However, strict regulations and need for approvals pose a barrier for new entrants.

Bargaining power of buyers: Large healthcare organizations and hospitals have high bargaining power due to large volume purchases. However, smaller clinics and individual consumers have low bargaining power.

Bargaining power of suppliers: A few large players dominate the supply of abuse testing kits, reagents and other materials. This gives them strong bargaining power over device manufacturers.

Threat of new substitutes: Alternative testing methods like spectroscopy, chromatography pose a threat. However, devices offer ease of use and portability.
Competitive rivalry: The market comprises several global players leading to high competition. Players compete based on latest technology, accuracy, price and service.

Key Takeaways

The Global Drug For Abuse Testing Devices Market Demand is expected to witness high growth over the forecast period driven by rising drug abuse and stringent laws.

 

Regional analysis:

 

North America dominates the market currently owing to favourable reimbursement policies and high awareness. Asia Pacific is expected to grow at fastest pace during the forecast period with increasing healthcare spending and rapid urbanization in countries like India and China.

 

Key players:

 

Key players operating in the Drug for Abuse Testing Devices market are JRD Cycling, Castelli Cycling, Giro Sport Design, Champion System, Conquest Cycle Wear Ltd., 2XU Pty. Ltd., Endura Limited, Isadore Apparel, Rapha Racing Limited, Attaquer Pty Ltd., Lumiere Cycling, Panache Cyclewear Co., Cadence Collection, Voler Inc., and Ornot. These players are focusing on expanding their product portfolios and geographic presence through mergers & acquisitions.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it