According to P&S Intelligence, the growing awareness about drug and alcohol addiction among the youth, technological improvements in drug of abuse (DOA) testing products, and rising government initiatives are some notable factors strengthening the Europe drug of abuse testing market. The market generated a revenue of $1.7 billion in 2017, and is expected to progress at a CAGR of 9.6% during the forecast period (2018–2023).
Drug testing refers to the technical analysis of a biological specimen, such as saliva, urine, sweat, blood and breath, to detect the presence of cannabis, cocaine, and alcohol. The European DOA testing market is segmented by offering, sample type, distribution channel, and end user. Based on the offering, the market is categorized into products and services. Of these, during the 2018–2023 period, the services category is predicted to witness faster growth (CAGR of 11.1%) and expected to generate a revenue of more than $600.0 million by 2023.
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These days, the consumption of illicit drugs is rising, and it has become the responsibility of the people to keep an eye on their loved ones to see if anyone is involved in it. Companies are introducing various products to meet this objective, thereby fueling the growth of the European DOA testing market. For instance, in June 2016, F. Hoffman-LA-Roche Ltd. announced the launch of Cobas e 801 modules to cater to the increasing demand for DOA testing at hospitals. The company mentioned that the new and specific high-volume testing immunoassay solution was on sale in the countries which accept the CE Mark.
Now, one of the key factors driving the market growth is technological advancements, which are boosting the testing product usage in multiple healthcare settings. To increase the sensitivity and offer detection of newly developed designer drugs, the testing products are being advanced. Also, the growing adoption of these products for medical and legal purposes has made it imperative to produce results with high confidence levels. For instance, smartphone breath analyzers, such as DrinkMate and BACtrack, are available in the market for testing breath alcohol content. These devices are handy and can transmit results via the wireless technology.
Hence, with the increasing number of product launches and rapid advancements in technology, the drug of abuse testing market in Europe is expected to witness a steady growth during the forecast period.
This post was originally published on Financial Sector