Drug of Abuse Testing Market Current and Future Trends, Leading Players, Industry Segments and Regional Forecast to 2021 to 2031 | Says FMI
As per a recent market analysis by Future Market Insights, the global drug of abuse testing market is projected to top US$ 1.5 Billion in 2021, expanding at over 5% CAGR over the forecast period.
According to recently published data from Future Market Insights (FMI), the global market for drug misuse testing is expected to reach a value of US$ 1.5 billion in 2021, with sales increasing at a rate of over 5% CAGR through 2031.
The demand for drug testing services will increase as opioid use among the elderly population becomes more prevalent. Also, due to the growing need for quick and accurate drug testing equipment in forensic laboratories, hospitals, and senior citizen care facilities, sales of drug of abuse testing kits are anticipated to increase.
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Growth can be attributed to the increasing opioid dependence in the geriatric population as a result of high dosage prescription opioid use for pain management. Chronic pain is prevalent among patients suffering from arthritis, heart diseases, and cancer Opioids are prescribed for pain management, however, overdose can result in fatalities.
In response to this, manufacturers are launching rapid, accurate, disposable, and easy-to-use drug of abuse testing kits to detect drug dependence among the elderly. This is indicative of lucrative prospects for new market entrants over the assessment period.
Drug of Abuse Testing Market by Category
By Drug Type:
· Psychostimulants
· Narcotic
· Cannabinoids
· Sedatives
· Others
By Technique:
· Immunoassay
· Chromatography
· Rapid Testing
By End User:
· Hospitals
· Diagnostics Laboratories
· Forensic Laboratories
· Others
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