Drug Abuse Testing Market to Reach Tremendous Growth by 2027: Redwood Toxicology Laboratory (Abbott), F. Hoffmann-La Roche Ltd – 3rd Watch News

According to The Insight Partners market research study titled Drug Abuse Testing Market to 2027 – Global Analysis and Forecasts by Product, Sample Type and End User. The Global Drug Abuse Testing Market is expected to reach US$ 9,393.17 Mn in 2027 from US$ 5,783.71 Mn in 2018. The market is estimated to grow with a CAGR of 5.7% from 2019-2027. The report highlights the trends prevalent in the global drug abuse testing market and the factors driving the market along with those that act as deterrents to its growth.

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Global drug abuse testing market, based on the end user, was segmented as, hospitals, diagnostic laboratories and forensic laboratories. In 2018, hospitals held the largest share of the market, by end user. In addition, the segment is also anticipated to grow at a significant rate during the forecast period. The advanced healthcare facilities in hospital settings and continuous availability of services for acute and complex conditions factors are anticipated to lead to the growth of the segment during the forecast period.

The market for drug abuse testing is expected to grow, owing to factors such as increasing consumption of illicit drugs and laws and regulations related to drug abuse. In addition, growing adoption of LIMS in cannabis testing laboratories is likely to have a positive impact on the growth of the market in the coming years.

The major players operating in the drug abuse testing market include, Redwood Toxicology Laboratory (Abbott), F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific, Inc., OraSure Technologies, Inc., UCP Biosciences, MEDACX Ltd., Beckman Coulter, Inc. (Danaher), Alcolizer Pty Ltd., Wondfo, DRÄGERWERK AG & CO. KGAA, American Screening Corporation, Inc, Mercedes Medical, Alfa Scientific Designs, Inc., Express Diagnostics Int’l, Inc., Omega Laboratories, Inc. and Laboratorio Sodré. 

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Drug use in excess can have a wide range of short and long-term, direct, and indirect effects. Short-term effects can range from changes in restlessness, appetite, blood pressure, heart rate, stroke or heart attack, psychosis, overdose, and even death. These health-related effects can occur even after just one use of drugs. On the other hand, longer-term effects can include cancer, heart or lung disease, mental illness, hepatitis, HIV/AIDS, and others. The long-term drug use can also lead to an addiction that results in brain disorders such as, anxiety, paranoia, depression, aggression, hallucinations, and others. For instance, according to the National Institute of Drug use, approx. 43.4 million (17.9%) adults ages 18 and older experienced some form of mental illness in 2015, in which 8.1 million had both a substance use disorder and another mental illness.

The increasing use of illicit drugs is subjected to various regulations. The government conducts many acts for the law or regulation on drug abuse including SUPPORT Act, 21st Century Cures Act, Comprehensive Addiction and Recovery Act (CARA), Affordable Care Act (ACA), Tribal Law and Order Act (TLOA), Mental Health Parity and Addiction Equity Act, Americans with Disabilities Act (ADA), Sober Truth on Preventing (STOP) Underage Drinking Act, Garrett Lee Smith Memorial Act and Children’s Health Act.

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  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the drug abuse testing market.
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  • The key findings and recommendations highlight crucial progressive industry trends in the global drug abuse testing market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.

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Source: https://3wnews.org/uncategorised/1045024/drug-abuse-testing-market-to-reach-tremendous-growth-by-2027-redwood-toxicology-laboratory-abbott-f-hoffmann-la-roche-ltd/