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Thursday, 18 January 2018

Drug of Abuse Testing Services Market Growth Prospect, Value Chain Analysis and Forecast by 2014-2025

The Global Drug of Abuse Testing Services Market is expected to reach USD 2.9 billion by 2025, according to a new report by Hexa Reports. Increase in demand for therapy for substance abuse is one of the crucial factors anticipated to boost the market. According to World Drug Report 2016, annually, treatments for drug abuse are accessible to only 17% of the total drug abusers. In North American, Eastern & Southeastern Europe, and Asia, opioid is one of the major drugs of concern.

According to World Drug Report 2016, 1 in every 20 people aged 15 to 64 consumed at least one drug in 2014. More than 29 million people who abuse drugs are estimated to suffer from drug-related disorders. There are 12 million people that abuse drugs, out of whom 14% are suffering from HIV. Cannabis and amphetamine are some of the highly abused drugs globally. Approximately 183 million people used cannabis in 2014. Stringent regulations for drug abuse testing at workplaces, such as Omnibus Transportation Employee Testing Act of 1991, etc., are expected to increase demand for screening kits over the forecast period.

Morbidity and mortality due to drug abuse are rising globally. One in every 4 deaths is attributed to tobacco, alcohol, and illicit drug consumption. The overdose of opioids results in adverse and serious health conditions. In the U.S., the nonmedical use of prescription opioids has considerably increased. According to statistics reported by National Institute of Drug Abuse, overdose of opioids results in more than 90 deaths every day in the U.S. The rise in prevalence of comorbidities associated with substance abuse, such as HIV and hepatitis C, have resulted in increase in demand for screening procedures. Furthermore, increase in the number of government initiatives to control illicit drugs and alcohol usage and rise in number of treatment alternatives are also driving the market.

Further key findings from the report suggest:
• The global drug of abuse testing services market size was estimated at USD 1,465.4 million in 2016 and is expected to grow at a CAGR of 8.1% from 2017 to 2025
• Cannabis emerged as the largest drug type segment and the opioids segment is anticipated to witness fastest growth over the next 8 years
• The North America region accounted for the largest market share in 2016 due to increased usage of medical marijuana, increased usage of investigational testing, and rise in number of toxicology laboratories.
• Asia Pacific is anticipated to witness lucrative growth over the next decade due to increase in alcohol consumption and related disorders in this region
• The market is highly consolidated in the U.S., with Laboratory Corporation of America Holdings; Alere; United States Drug Testing Laboratories, Inc. (USDTL); Quest Diagnostics, Inc. holding 85% market share.

Table of Contents
• Chapter 1 Research Methodology
• Chapter 2 Executive Summary
• Chapter 3 Drug of Abuse Testing Services Market Variables, Trends & Scope
• Chapter 4 Drug of Abuse Testing Services Market: Product Estimates & Trend Analysis
• Chapter 5 Drug of Abuse Testing Services Market: Regional Estimates & Trend Analysis, by Drug Type
• Chapter 6 Competitive Landscape

For More Details Visit @ Hexa Reports

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