Drug of Abuse (DOA) Testing Market, Advanced Technologies and Growth 2024
Posted by Yash Chauhan on February 27th, 2019
The driving factor for the growth of the drug of abuse testing market includes the advancement in technology for the development and production of DOA products with high specificity and sensitivity against complex new designer drugs. The reduction in testing time with newly developed products also drives the growth of the market. Additionally, government initiatives to increase awareness towards drug abuse, and also the global rise in production and trade of drugs are expected to render growth of the market.
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Based on the sample type, the DOA testing market is segmented into urine, saliva, hair, and others. The most common form of sample used for drug of abuse testing is urine, due to the presence of parent drug or metabolites that can help detect the presence of many illicit drugs. This led to the high demand of urine as sample type for DOA testing with a contribution of more than 50% in the market in 2017.
Asia-Pacific DOA testing industry is expected to witness a significant growth at a high CAGR of 10.4% during the forecast period. The growth is driven by the rising production, as well as consumption of illicit drugs. In addition, the rise in organisational compliance for testing of drug of abuse at workplace will also drive the growth of the regional market.
The key players of the DOA testing industry are Siemens AG, Danaher Corporation, Merck KGaA, Express Diagnostics Int'l, Inc., Drägerwerk AG & Co. KGaA, bioMérieux S.A., Quest Diagnostics Inc., Waters Corporation, Abbott Laboratories, Alere Inc., Psychemedics Corporation, Randox Laboratories Ltd., Bio-Rad Laboratories, Inc. and ThermoFisher Scientific Inc, and Sonic Healthcare Ltd.
The DOA testing players are undergoing collaborations and acquisition of other players to gain larger market share. In January 2017, Sonic Healthcare Limited signed a binding agreement for the acquisition of Medical Laboratory Bremen, with operations in two medical laboratories in the North West of Germany, focussed on specialty testing. The company’s acquisition was closed with a purchase price of €63 million, with the strategic commitment to grow in laboratory medicine.
Source: VynZ Research
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About the AuthorYash Chauhan
Joined: February 25th, 2019
Articles Posted: 106
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