Healthcare IT (HCIT) is fastest growing segment fueling the growth of Drug for Abuse Testing Devices Market

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 5.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Drug for abuse testing devices help identify the presence of drugs or metabolites in the body by analyzing samples such as urine, blood, hair, oral fluid etc. These products play an important role in drug screening programs by ensuring job security, public safety and health.

Market key trends:

The adoption of healthcare IT solutions is one of the key trends witnessed in the drug for abuse testing devices market. Integration of IT with diagnostic products helps generate faster and accurate test results while streamlining workflow. IT solutions also enable efficient data management and sharing of reports between labs and law enforcement agencies. This significantly improves monitoring and prevention of drug abuse in the society.

Segment Analysis

The global drug for abuse testing devices market size is segmented based on product, sample type, end user, and region. Based on product, the market is segmented into consumables and equipment. The consumables segment is expected to dominate the market during the forecast period. Consumables are frequently required for testing which drives the growth of this segment. Based on sample type, the market is categorized into urine, breath, oral fluid, hair, and other samples. The urine sample segment accounted for the largest share of the market in 2020 due to non-invasive sample collection process.

Key Takeaways

The global drug for abuse testing devices market size was valued at US$ 1.65 billion in 2023. The market is expected to witness high growth, exhibiting a CAGR of 5.3% over the forecast period, due to rising drug abuse cases globally.

The North American region dominated the global market in 2023 and is expected to maintain its dominance over the forecast period. This is attributed to the growing cases of drug abuse and related healthcare costs in the region.

Key players operating in the drug for abuse testing devices market are Quest Diagnostics, Roche Holding AG, Thermo Fisher Scientific, Inc., Siemens AG (Siemens Healthineers), Abbott Laboratories (Alere, Inc.), Shimadzu Corporation, Express Diagnostics International Inc., Drägerwerk AG & Co. KGaA, Laboratory Corporation of America Holdings. These companies have strong distribution networks and provide a variety of drug testing devices across different sample types.

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