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The growing instances of drug abuse are compelling various governments agencies such as the US FDA, the CDC, and the Drug Enforcement Agency (DEA) impose stringent regulations pertaining to the use of drugs. Implementation of these regulations is driving the growth of the global drugs of abuse testing market. For instance, the researchers in the US are required to get approval from several organizations such as the National Institute on Drug Abuse (NIDA), the US FDA, and the DEA to procure cannabis for their research purposes. Additionally, researchers must secure additional approvals from various state government departments where the research is being conducted. These factors are expected to drive the growth of the market at a CAGR of nearly 6% during 2019-2023.
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Market Overview
Increased strategic developments
Vendors in the market are focusing on improving their product offerings and innovations to expand their product portfolios and ensure the availability of drugs of abuse testing to end-users such as research laboratories and academic institutions. Other strategic developments such as new product launches, joint ventures, collaborations, investments, and partnerships, and acquisitions adopted by the vendors are expected to fuel the growth of the global drugs of abuse testing market size during the forecast period.
Manipulation of drug screening tests
There are instances of people evading tests for illicit drugs by manipulating the specimen that was supposed to be subjected to the tests. For example, the easy availability of chemicals such as laundry detergent, table salt, and toilet bowl cleaners give people the liberty to adulterate the specimens to manipulate drug screening tests. This is expected to hinder the growth of the global drugs of abuse testing market size.
Competitive Landscape
The market appears to be fairly concentrated with few players occupying the market share. Companies such as Abbott and Bio-Rad Laboratories Inc. have intensified competition. Factors such as stringent regulatory control on the procurement of cannabis and increased strategic developments will provide significant growth opportunities for drugs of abuse testing companies. Abbott, Bio-Rad Laboratories Inc., Danaher Corp., F. Hoffmann-La Roche Ltd, and Thermo Fisher Scientific Inc. are some of the major companies covered in this report.
Table of Contents
PART 01: EXECUTIVE SUMMARYPART 07: CUSTOMER LANDSCAPEPART 09: DECISION FRAMEWORKPART 11: MARKET TRENDS
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
PART 04: MARKET SIZING
PART 05: FIVE FORCES ANALYSIS
PART 06: MARKET SEGMENTATION BY PRODUCT
PART 08: GEOGRAPHIC LANDSCAPE
PART 10: DRIVERS AND CHALLENGES
PART 12: VENDOR LANDSCAPE
PART 13: VENDOR ANALYSIS
PART 14: APPENDIX
List of Exhibits:
Executive Summary
The following companies are recognised as the key players in the global drugs of abuse testing market: Abbott, Bio-Rad Laboratories Inc., Danaher Corp., F. Hoffmann-La Roche Ltd, and Thermo Fisher Scientific Inc.Commenting on the report, an analyst from the research team said: “The latest trend gaining momentum in the market is the growth of luxury cannabis products.”
According to the report, one of the major drivers for this market is the stringent regulatory control on the procurement of cannabis.
Further, the report states that one of the major factors hindering the growth of this market is the manipulation of drug screening tests.
The study was conducted using an objective combination of primary and secondary information, including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Companies Mentioned
A selection of companies mentioned in this report includes:
- Abbott
- Bio-Rad Laboratories Inc.
- Danaher Corp.
- F. Hoffmann-La Roche Ltd
- Thermo Fisher Scientific Inc.