Operating Room Equipment Market Outlook On The Basis Of Product, End-Use, Region And Forecast From 2019 to 2025: Grand View Research Inc.

San Francisco, 28 April 2023: The Report Operating Room Equipment Market Size, Share & Trends Analysis Report By Product (Anesthesia Devices, Endoscopes, OR Tables, OR Lights, Electrosurgical Devices), By End-use, And Segment Forecasts, 2018 – 2025

The global operating room equipment market size is expected to reach USD 48.50 billion by 2025 according to a new report by Grand View Research, Inc. The market is primarily driven by increasing investments for improving hospital care facilities, rising number of new hospitals & ambulatory care centers, increasing patient preference for minimally invasive procedures, and an increase in the number of surgeries performed globally.

Growing funds & investments by various government bodies and private investors are also contributing to the growth of the market. For instance, in its 2016-17 budget, the Hong Kong government dedicated a provision of USD 200 billion for a ten-year hospital development plan that would help expand and upgrade healthcare facilities. Under the plan, number of operating theaters would increase by 40% and specialist outpatient service capacity would increase by 40% from 6.8 million to 10 million attendances for a year. The development plan also includes redevelopment and expansion of various hospitals in the region.

In addition, a rapid increase in the number of elderly people & rising prevalence of chronic diseases are increasing the demand for surgical interventions and contributing to the expansion of the market. Technological innovations in medical devices are driving the adoption of advanced medical equipment in surgical procedures. Key players are focusing on product innovations and new launches to cope with growing needs.

Furthermore, improving healthcare infrastructure in emerging economies, large patient pool, and untapped opportunities in developing nations are attracting foreign investors to hospitals and the healthcare sector. Thus, growing investments in emerging economies and establishment of new hospitals & healthcare centers are expected to boost growth in the next few years. 

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Further Key Findings From the Report Suggest:

• The anesthesia devices segment held majority of the revenue share in 2016 due to a rise in the volume of surgical procedures
• Hospitals dominated the end-use segment in 2016 primarily due to increasing number of hospitals and rising investments in operating theaters
• North America dominated the global operating room equipment market owing to a rapid increase in geriatric population and rising prevalence of various diseases
• Some of the key players includeSTERIS plc; Stryker; KARL STORZ GmbH & Co. KG; GE Healthcare; Siemens Healthineers; and Hill-Rom (Trumpf Medical)

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Narcolepsy Therapeutics Market Segmented On The Basis Of Product, End-Use, Region And Forecast: Grand View Research Inc.

San Francisco, 28 April 2023: The Report Narcolepsy Therapeutics Market Analysis By Type (Cataplexy and Without Cataplexy), By Product (Central Nervous System Stimulants, Sodium Oxybate, Tricyclic Antidepressants), And Segment Forecasts, 2018 – 2025

The global narcolepsy therapeutics market is expected to reach USD 3.85 billion by 2025, according to a new report by Grand View Research, Inc. The increasing awareness about this sleep disorder among public and healthcare providers is a key factor contributing to the market growth.

The Narcolepsy Network has estimated that out of every 2,000 people 1 is afflicted by this condition. Moreover, Narcolepsy UK states that around 25% patients are identified and remaining 75% are untreated as they remain undiagnosed or are misdiagnosed, which is alarming. Some organizations and networks are constantly working to spread awareness about this condition among the patients and physicians.

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Further key findings from the report suggest:

• The narcolepsy therapeutics market is expected to grow substantially owing to the worldwide increasing incidence of this disorder.
• Narcolepsy with cataplexy was identified as the largest type segment in 2016. It is expected to retain its position throughout the forecast period owing to the rising cases of cataplexy in patients suffering from narcolepsy.
• Narcolepsy without cataplexy is likely to witness the fastest growth over the forecast period due to increasing awareness about Excessive Daytime Sleepiness (EDS) through various mediums, such as awareness campaigns
• Sodium oxybate dominated the product segment in terms of revenue share in the year 2016, and it is also expected to be the fastest growing segment over the forecast period. Drugs belonging to this class have higher costs and favorable coverage policies.
• Xyrem is the only FDA-approved drug in this category and is extensively prescribed for the treatment of cataplexy and EDS. American Academy of Sleep Medicine (ASSM) recommends it as a standard treatment of this disorder.
• Europe dominated the regional market in terms of revenue share in 2016 because of increase in capital investments and existence of established healthcare infrastructure along with a large target population
• The H1N1 influenza postvaccination pandemic of the year 2009 has resulted in growth of number of narcolepsy patients
• Asia Pacific is likely to exhibit fastest growth during the forecast period due to the rising healthcare expenditure in this region, rising awareness among people, highest prevalence in Japan, and presence of emerging economies such as China & India
• Some of the major market players are Jazz Pharmaceuticals PLC;Teva Pharmaceutical Industries Ltd.;Graymark Healthcare, Inc.;Addrenex Pharmaceuticals, Inc.; and BIOPROJET.
• Mergers and acquisitions are strategic initiatives undertaken by these market players in an attempt to remain competitive. In addition, companies are expanding their geographical presence to untapped markets.

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U.S. Specialty Injectable Generics Market Focusing On The Basis Of Therapeutic Use And Forecast 2025: Grand View Research Inc.

San Francisco, 28 April 2023: The Report U.S. Specialty Injectable Generics Market Analysis By Therapeutic Use (Oncology, Cardiovascular, Central Nervous System, Infectious Diseases, Autoimmune Disorders), And Segment Forecasts, 2018 – 2025

The U.S. specialty injectable generics market is expected to reach USD 27.8 billion by 2025, according to a new report by Grand View Research, Inc. High demand for cost-effective drugs for the treatment of cancer, autoimmune diseases, hepatitis, and infectious diseases is expected to create huge opportunities for manufacturers of specialty injectable generics. This has also encouraged many insurance companies to provide reimbursement for these products due to their low cost. According to FDA, generic drugs cost 80% to 85% lesser than branded drugs.

The affordability of these products can be attributed to elimination of certain processes, such as clinical trials, advertising, and other promotional activities. Moreover, in certain cases, a group of generic manufacturers receive approval for the commercialization of a single product. This creates pricing pressure and elevates competition, thereby resulting in the availability of cost-effective generics.

In addition, existing branded specialty injectables are expensive, thus limiting their adoption in the previous years. Increasing penetration of generic versions of these drugs and the entry of a large number of companies into the market has increased price competition, and this has resulted in the availability of drugs at affordable prices for patients. This has positively impacted emerging & price-sensitive countries and raised the demand for specialty injectable generics in the U.S.

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Further Key Findings From the Report Suggest:

• Oncology accounted for the largest market share in 2016. This can be attributed to high cancer prevalence coupled with increasing number of ANDA approvals for its treatment
• Central Nervous System is expected to grow at an exponential rate throughout the forecast period, which can be attributed to high need for specialty injectables in the treatment of neurological diseases. This is encouraging key generic manufacturers to enter this therapeutic area
• Level of competition is high as key players are adopting strategies, such as the development of new products and strategic collaborations & agreements to gain competitive advantage
• Key players are engaged in the establishment of extensive distribution systems and mergers &acquisitions to capture a larger share
• Pfizer, Inc. captured the largest share in 2016 and is involved in developing advanced technologies and formularies for high-quality generics
• One of the major deals of Pfizer, Inc. was the acquisition of Hospira, Inc. in 2015, following which it captured a greater share of the generic injectables market in the U.S.

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Molecular Cytogenetics Market Outlook On The Basis Of Application, Product, End Use, Technology, Region And Forecast to 2025: Grand View Research Inc.

San Francisco, 28 April 2023: The Report Molecular Cytogenetics Market Analysis Report By Application (Oncology, Personalized Medicine), By Product, By End Use, By Technology (FISH, Immunochemistry, Karyotyping), And Segment Forecasts, 2018 – 2025

The global molecular cytogenetics market size is expected to reach USD 3. 8 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a 10.4% CAGR during the forecast period. Mapping of human genome, coupled with continuous technological advancements in cytogenetic techniques, has enabled researchers to gain insight into the disease-causing mechanism at a genomic as well as the cellular level. Development in molecular technologies has helped in bridging the gap between molecular biology and cytogenetics, which was not possible using conventional cytogenetic techniques. 

There is a continuous growth in awareness, and consequent adoption, of genetic tests for disease prognosis. These tests also help in designing further treatment regimes for widespread chromosomal abnormalities. This is sure to boost the market growth.

Incorporation of high throughput sequencers in the cytogenetic analysis is expected to significantly enhance the market growth in the coming years. A number of researchers and scientists have begun converging cytogenetics laboratories with NGS as they complement each other. Hence, with an exponential decline in sequencing prices, this market is expected to grow at a lucrative pace.

However, ambiguous regulatory and reimbursement scenario in certain regions pertaining to the implementation of genetic tests is expected to hamper the adoption of molecular cytogenetic techniques to a certain extent.

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Further key findings from the report suggest:

• Oncology held the largest share in the market in 2016 owing to the ability of CGH technology to facilitate in-depth studies for cancer etiology
• The use of molecular cytogenetics in personalized medicine development is expected to grow lucratively during the forecast period. This is majorly due to a continuous shift toward targeted therapies for effective disease management
• The requirement of consumables in the entire cytogenetics process is attributive for the largest share of this product category
• Ongoing research projects for developing a treatment regimen of different genetic conditions have allowed clinical and research laboratories to gain a significant share in the market
• Pharmaceutical and biotech companies are expected to be a key source of revenue in the coming years. This is mainly because a number of pharmaceutical companies have expanded their business in the field of personalized medicine
• Illumina, Inc.; Agilent Technologies, Inc.; Abbott; Bio-Rad Laboratories, Inc.; and Oxford Gene Technology are some prominent companies in the market. They are involved in the development and commercialization of cytogenetics techniques
• Some major service providers are Weill Cornell Medicine; WiCell Research Institute, Inc.; ARUP Laboratories; and Integrated Systems Engineering S.r.l.

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U.S. Clinical Oncology Next Generation Sequencing Market Size Is Anticipated To Reach USD 1.53 Billion By 2024: Grand View Research Inc.

San Francisco, 27 April 2023: The Report U.S. Clinical Oncology Next Generation Sequencing Market Size, Share & Trends Analysis Report By Technology (Whole Genome Sequencing, Whole Exon Sequencing, Targeted Sequencing & Resequencing), By Workflow, By End Use, Regions, And Segment Forecasts 2018 To 2024

The U.S. clinical oncology next generation sequencing market is anticipated to reach USD 1.53 billion by 2024, according to a new report by Grand View Research, Inc. Applications of NGS platform for clinical oncology are expected to grow at a steady pace under the influence of increasing adoption of NGS platforms in oncology R&D coupled with rising incidents of cancer.

Application of NGS based cancer diagnostics for screening and monitoring of oncogenes to understand the underlying mechanism behind causes of cancer is expected to boost the growth of this vertical throughout the forecast period.

Moreover, exponentially decreasing costs for sequencing have also spurred the demand for NGS platform in clinical oncology research as whole genome analysis has become affordable even by the smaller R&D entities. In addition, high competition amongst prominent market players to enhance their share in the market is also expected to translate into increased revenues generated by these companies as a result.

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Further key findings from the report suggest:

• Out of the different technologies offered by NGS platforms, targeted sequencing & resequencing accounted for the largest share owing to the fact that it enables the study of changes in diseases at molecular level, & analyze the underlying modifications in the genetic sequence to investigate epigenomics of cancer, thus enhancing demand for more advancement in targeted sequencing tools.
• The workflow associated with genomic sequencing is expected to witness lucrative progress as a result of variation in platforms provided by prominent market players with respect to amount of DNA sequenced per cycle, read length, and runtime. Furthermore, data analysis of raw sequence data thus obtained, is the most critical step in the workflow of NGS, and is thus anticipated to experience immense growth in the coming years as a consequence of the abundance of data generated post-sequencing.
• Adoption of high throughput sequencing platform by clinical sector is observed to be more promising for NGS based oncology research market as a consequence of the usage of NGS in cancer research and more specifically in the discovery of new cancer-related genes, tumor heterogeneity, and identification of alterations that are contributive in tumorogenesis
• Key players operating in this industry include Illumina Inc., Roche, Agilent Technologies, Knome Incorporated. Genomatix Software GmbH, GATC Biotech Ag, Oxford Nanopore Technologies Ltd, Macrogen Inc., Life Technologies Corp, DNASTAR Inc, Exosome Diagnostics, Biomatters Ltd, CLC Bio, BGI, Qiagen NV, Perkin Elmer, Incorporated, Pacific Bioscience, Inc, Partek, Inc, GnuBIO, Foundation Medicine, Paradigm, Caris Life Sciences and Myriad Genetics and they are actively engaged in manufacturing and commercialization of innovative bioinformatics algorithms as demonstrated by the increasingly growing number of partnerships between prominent players and emerging players.
• For instance, In February 2016, Thermo Fisher collaborated with Invivoscribe Technologies, Inc for the development of NGS based, in vitro diagnostic (IVD) oncology tests on Ion PGM Dx System which is further anticipated to accelerate the growth of the company in near future. Similarly, in June 2016, Thermo Fisher supported enhancement and commercialization of clinical research assay and in vitro diagnostics using NGS technology launched the Ion Torrent Developers Alliance Program.

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Autoimmune Disease Diagnostics Market Segment Analysis By Type, Region And Forecast Till 2030 : Grand View Research Inc.

San Francisco, 27 April 2023: The Report Autoimmune Disease Diagnostics Market Size, Share & Trends Analysis Report By Type (Systemic Autoimmune Disease Diagnostics, Localized Autoimmune Disease Diagnostics Disease Diagnostics), By Region, And Segment Forecasts, 2018 – 2025

The global autoimmune disease diagnostics market is expected to reach a value of USD 5.0 billion by 2025, based on a new report by Grand View Research, Inc. Government organizations along with related associations strive to curb such high healthcare costs and simultaneously provide improved diagnostic and therapeutic solutions to the patients. This has resulted in increased funding by the NIH for R&D programs related to autoimmune diseases.

Moreover, the presence of favorable government initiatives aimed at curbing the incidence of these diseases and developing viable diagnostic & treatment options is expected to drive market growth over the forecast period.

Growing volume of autoimmune diagnostic procedures has heightened the need for instruments and facilities rendering faster and effective results. In an attempt to cater to ever-increasing procedure volumes, diagnostic laboratories are rapidly moving toward automation. Lab automation helps decrease workload via rapid turnaround times and helps generate standardized & reproducible results.

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Further key findings from the study suggest:

• Localized autoimmune disease diagnostics was the largest segment in 2015 owing to high usage for type 1 diabetes and idiopathic thrombocytopenic purpura
• Type 1 diabetes is estimated to grow at a significant growth rate of over 4.0% in the localized disease type segment
• Systemic disease diagnostics is anticipated to witness lucrative CAGR of around 5.0% over the forecast period due to increasing R&D for the development of novel diagnostic biomarkers for the treatment of rheumatoid arthritis and systemic lupus erythematosus
• Rheumatoid arthritis is one of the most recurring autoimmune disorders further demanding a high amount of rapid diagnostics for exploring better alternative treatments
• North America was the largest regional market in 2015. The high market penetration rate of technologically advanced products and increased lab automation rate are some of the factors contributing to its large share
• Asia Pacific region is anticipated to grow at the fastest CAGR of above 4.0% over the forecast period owing to increasing focus on type 1 diabetes diagnosis
• Some of the key players of this market include F. Hoffmann-La Roche Ltd; Siemens Healthineers; Abbott Laboratories; Beckman Coulter, Inc.; SQI Diagnostics; Quest Diagnostics; EUROIMMUN AG; AESKU. Diagnostics; Inova Diagnostics, Inc.; Crescendo Bioscience, Inc.; bioMerieux SA; Bio-Rad Laboratories, Inc.; and Hemagen Diagnostics, Inc.

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Gout Therapeutics Market Focusing On The Basis Of Component Type, Application, End-Use, Region And Forecast 2025: Grand View Research Inc.

San Francisco, 27 April 2023: The Report Gout Therapeutics Market Analysis By Drug Class (Nonsteroidal Anti-inflammatory Drugs [NSAIDs], Corticosteroids, Colchicine, Urate-Lowering Agents), By Disease Condition (Acute Gout, Chronic Gout), And Segment Forecasts, 2018 – 2025

The global gout therapeutics market is expected to reach a value of USD 8.3 billion By 2025, based on a new report by Grand View Research, Inc. The gout therapeutics market is anticipated to witness significant growth during the forecast period. This can be attributed to the introduction of major urate-lowering agents, approval of effective biologics, and increasing number of patients suffering from chronic gout.

In December 2015, AstraZeneca’s product, Zurampic (lesinurad), in combination with xanthine oxidase inhibitor (XOI) received an approval from the U. S. FDA to treat gout. Later in February 2016, the European Commission approved the drug throughout the European Union (EU). Hence, introduction of urate-lowering agents is expected to drive the market.

Introduction of biologics to treat gout and increasing adoption of newer therapies further help propel the industry. For instance, in March 2013, Novartis received an EU approval for the product, Ilaris, for use in the treatment of patients suffering from gouty arthritis.

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Further key findings from the study suggest:

• Nonsteroidal Anti-inflammatory Agents (NSAIDs) accounted for the highest share of the market in 2015, which can be credited to highest penetration, higher demand due to low cost, and efficient pain relief.
• Urate-lowering agents segment is expected to grow at the highest rate over the coming years. Expected entry of various new drugs, increasing adoption of drugs, and growing investment by key players for development of these agents are likely to drive the segment.
• Chronic gout dominated in 2015 and is expected to maintain its dominance during the forecast period. Approval of new drugs to treat chronic gout and long-term expenditure for treatment are the key factors responsible to propel the industry.
• NSAIDs, colchicine, and corticosteroids are majorly used to treat acute gout, and urate-lowering agents are utilized in chronic gout treatment in combination with NSAIDs or Colchicine.
• Geographically, North America dominated the overall industry in 2015. This is attributed to higher adoption of the newer & expensive treatments and rising awareness about arthritic conditions.
• Asia Pacific is expected to witness highest growth during the forecast period due to growing awareness and increasing healthcare expenditure. Furthermore, growing investment in the region by key players is likely to boost the regional growth.
• Some of the key players are Takeda Pharmaceutical Company Ltd.; Novartis AG; Savient Pharmaceuticals; AstraZeneca plc; GlaxoSmithKline plc; Merck& Co. Inc.; Teijin Pharma Ltd.; and Regeneron Pharmaceuticals.

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Pharmaceutical Filtration Market Outlook On The Basis Of Product, Technique, Application, Scale Of Operation, Type, System Region And Forecast : Grand View Research Inc.

San Francisco, 27 April 2023: The Report Pharmaceutical Filtration Market Size, Share & Trends Analysis Report By Product (Membrane Filters, Pre-filters & Depth Media, Cartridges & Capsules), By System, By Type, By Technique, By Application, By Scale Of Operation, And Segment Forecasts, 2018 – 2025

The global pharmaceutical filtration market size is expected to reach USD 37.3 billion by the year 2025 growing at a CAGR of 12.1%, according to a new report by Grand View Research, Inc. The growing expansion of the biopharmaceutical industry have resulted in enormous growth of the market with new and more enhanced technologies being used to cater to the need of drug manufacturers. Increasing demand for therapeutic biopharmaceuticals such as antibodies, hormones, and vaccines is a major factor that drives growth of the market during forecast period. Thus, many pharmaceuticals and biotechnology companies have begun to focus on the development of advanced biologics for the treatment of severe chronic diseases including cancer, heart disease, and rheumatic arthritis. 

Increasing investment in the R&D by pharmaceutical and biotechnology companies is another major factor supporting the growth of the sector. Technological advancements in filtration products is also expected to propel their adoption in manufacturing and research of biopharmaceuticals and other drugs. The technological advanced filters including membrane, pre-filters & depth media, and cartridges & capsules filters provide high reliability and efficiency during drug manufacturing process.

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Pharmaceutical Filtration Market Report Highlights

• Microfiltration is the fastest growing technique amongst others owing to its large application in generic and biopharmaceutical drug productions
• Final product processing was the largest revenue-grossing as well as fastest growing segment of the pharmaceutical filtration market, due to increase in number of companies engaged in pharmaceuticals and biologics production
• Membrane filters held the largest revenue share in the overall sector, which is attributed by its high usage in production, research, environmental testing, and other applications in the pharmaceutical industry
• MCE membrane filters accounted for the largest share in the membrane filters segment, due to its product advancement
• The manufacturing scale dominated the market in terms of revenue in 2016 owing to the increasing production of generic drugs and biopharmaceutical products
• North America is the leading regional sector, which is accounted for the largest revenue share of the overall market in 2016, because of the presence of large number of pharmaceutical, biopharmaceutical, and biotechnology companies in this region
• The Asia Pacific region is expected to grow at a highest CAGR during the forecast period due to escalating presence of drug manufacturers in the developing countries such as China and India
• Some of the major players include Eaton Corporation Plc; GE Healthcare, Parker Hannifin Corporation; Merck KGaA; Danaher Corporation, 3M; Amazon Filters Ltd.; Sartorius Stedim Biotech S.A.; Graver Technologies, LLC; and Meissner Filtration Products, Inc.  

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Grape Seed Extract Market Outlook On The Basis Of Product, Application, Region And Forecast : Grand View Research Inc.

San Francisco, 26 April 2023: The Report Grape Seed Extract Market Size, Share & Trends Analysis Report By Product (Powder, Liquid, Gel), By Application (Nutritional Supplements, Pharmaceutical, F&B, Personal Care), And Segment Forecasts, 2019 – 2025

The global grape seed extracts market size is expected to reach USD 201.2 million by 2025, according to a new report by Grand View Research, Inc., exhibiting a 7.6% CAGR over the forecast period. Major factors contributing to market growth are rising consumer awareness regarding healthy lifestyle and consumption of nutritious foods, as well as increasing focus on physical appearances. It has been observed that a large number of manufacturers of health and nutrition supplements use grape seed extract as an ingredient due to its oligomeric procyanidins (OPC) properties. These properties are beneficial for the treatment of conditions such as atherosclerosis, high cholesterol, poor blood circulation, macular degeneration, and nerve damage.

Revenue generated by the powdered segment accounted for a share of more than 80.0% in 2018. High ease of incorporation of powder as functional ingredient in manufacturing of food and beverages, personal care products, and nutritional supplements is expected to ensure the dominance of the segment over the forecast period. Furthermore, growing popularity of dietary supplement powders among adults in breakfast and evening meals to maintain fitness is expected to compel nutraceutical manufacturing companies to incorporate grape seed extract as a functional ingredient to their products.

The food and beverage segment is expected to value more than USD 25.0 million by 2025. Segment growth can be attributed to increasing number of health-conscious consumers on a global level, who are turning to convenience foods with high nutritional value.

Asia Pacific is expected to witness the fastest growth from 2019 to 2025, exhibiting a CAGR of 9.4%. Expansion of middle-income groups in developing countries such as China, India, Pakistan, and Bangladesh is expected to remain a favorable factor for market growth, reflecting a spike in product application in the food and beverage as well as personal care sectors. Furthermore, supportive government policies aimed at increasing manufacturing output of food processing in countries like China and India is expected to open new avenues for use of grape seed extract as a functional ingredient in the near future.

Some of the key players operating in this market are S.P.A.; Botanic Innovations LLC; Polyphenolics; Naturex; Nexira; Augusto Bellinvia srl; NetQem LLC; Hunan NutraMax Inc.; Jianhe Biotech Co., Ltd.; and Piping Rock Health Products, LLC. Various manufacturers are concentrating on new product launches and technological innovation and are collaborating with other companies to increase their product offerings and strengthen their foothold in the market.

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Grape Seed Extracts Market Report Highlights

• By product, the liquid segment is projected to register a CAGR of 9.8% from 2019 to 2025 owing to its antibacterial, parasiticidal, antiviral, cytoprotective, antifungal, and mucosa repairing properties
• Based on application, the personal care segment generated a revenue of USD 32.1 million in 2018. Incorporation of grape seed extracts in these products helps in maintaining skin moisture, reducing inflammation, and minimizing fine lines and wrinkles
• North America dominated the global grape seed extracts market in 2018 with a share of 43.3%. Increasing consumer awareness regarding a medicine-free lifestyle as well as greater spending on health and wellness have resulted in the growth of the regional market

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Drug Of Abuse Testing Services Market In-Depth Research On Basis Of Drug Type, Region And Forecast To 2028 : Grand View Research Inc.

San Francisco, 26 April 2023: The Report Drug Of Abuse Testing Services Market Size, Share & Trends Analysis Report By Drug Type (Cannabis/Marijuana, Opioids, Cocaine, Alcohol, LSD, Amphetamine & Methamphetamine), By Region, And Segment Forecasts, 2021 – 2028

The global drug of abuse testing services market size is expected to reach USD 3.8 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.2% from 2021 to 2028. The imposition of stringent laws mandating alcohol and illicit substance abuse testing is anticipated to drive the market during the forecast period. However, the violation of privacy rights while drug testing is considered a challenge and impedes the adoption of such testing services.

Workplace substance abuse is on the rise despite random tests being conducted by organizations. Commonly abused illicit drugs on the job are cannabis and cocaine. In the workplace, substance abuse might lead to significant loss of productivity, physical injuries, and even fatalities. On the basis of various drug abuse surveys, around 22.5% of people do not admit using alcohol or any illicit drugs during working hours. Around 1 in 10 respondents say that they come prepared to avoid the risk of random tests at the workplace. Therefore, there is a growing need for rapid and frequent drug of abuse testing at the workplace in order to minimize loss of productivity, absenteeism, and healthcare costs. However, with the COVID-19 crisis and subsequent lockdown scenarios throughout the world, people are staying at and working from home, which is expected to reduce the number of substance abuse cases at the workplace.

The National Institute on Drug Abuse (NIDA) has been established as one of the major federal agencies focused on supporting scientific research on drug use disorders and their consequences, thus improving public health. In March 2020, the NIDA issued a Notice of Special Interest (NOSI) highlighting the urgent need for research and data collection and analysis on the risks of COVID-19 infection in people suffering from substance use disorders. This pandemic is a potential threat to individuals who smoke tobacco or marijuana or try vaping, as the infection affects the lungs. This initiative aims at the submission of applications for Competitive Revisions to active grants, targeting research about SARS-CoV-2 infection risks in individuals with substance use disorders, especially with marijuana, nicotine, methamphetamine, and opioids.

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Drug Of Abuse Testing Services Market Report Highlights

• By drug type, cannabis/marijuana accounted for the largest market share in 2020. This can be attributed to the growing usage of cannabis across the world, especially in the U.S.
• The opioids drug type segment held a significant revenue share in 2020 due to the growing cultivation and trading of opioids in Asian countries and a rise in related overdose deaths
• North America accounted for the largest market share in 2020 due to the highest consumption of illicit drugs in the U.S. as well as the imposition of various drug policies mandating drug screening in the country
• Latin America is anticipated to witness the fastest growth during the forecast period owing to the increasing usage and trading of illegal drugs
• COVID-19 has led to a significant rise in alcohol and other substance abuse globally; however, demand for drug testing has declined due to the increased focus on measures to combat the pandemic

List of Key Players of Drug Of Abuse Testing Services Market

• Quest Diagnostics
• Abbott Laboratories
• Clinical Reference Laboratory (CRL), Inc.
• Laboratory Corporation of America Holdings
• Cordant Health Solutions
• Legacy Medical Services
• DrugScan
• Omega Laboratories, Inc.
• Psychemedics Corporation
• Millennium Health
• Mayo Clinic Laboratories
• Precision Diagnostics
• American Substance Abuse Professionals, (ASAP) Inc.
• United States Drug Testing Laboratories (USDTL), Inc.
• LGC Group

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