Cordant Health Solutions

Jul 4, 2023

" - https://www.reportlinker.com/p06457498/?utm_source=GNW , Thermo Fisher Scientific Inc., Siemens Healthcare Private Limited, F. Hoffmann-La Roche Ltd, Cordant Health Solutions, Omega Laboratories Inc., Psychemedics Corporation, Zimmer Biomet, Homology Medicines Inc., and bioMérieux Inc. The global drugs of abuse (DOA) testing market is expected to grow from $6.03 billion in 2022 to $6.65 billion in 2023 at a compound annual growth rate (CAGR) of 10.1%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The drugs of abuse (DOA) testing market is expected to reach $9.35 billion in 2027 at a CAGR of 8.9%. The drugs of abuse (DOA) testing market includes revenues earned by entities by providing services such as analyzers, rapid testing devices, consumables, and laboratory services.The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. Drug of abuse (DOA) testing refers to the examination of a substance, such as a drug, chemical, or plant product, that is usually treated recreationally.It includes marijuana, cocaine, opioids, amphetamines, alcohol, and PCP, which are tested for on a drug panel. The patient’s urine, saliva, blood, hair, or sweat are used in this clinical screening procedure. North America was the largest region in the drugs of abuse(DOA) testing market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in drugs of abuse (DOA) testing report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The main products and services for drug of abuse (DOA) testing are analyzers, rapid testing devices, consumables, and laboratory services.An analyzer is a device that automatically measures the chemical concentration of one or more components or another associated physical quantity, continuously or intermittently. There are sample types included such as urine, hair, oral fluid, and breat, and are available in various applications such as pain management, criminal justice, and workplace screening. The end users involves hospitals, diagnostic laboratories, forensic laboratories, and others. Increasing demand for drug abuse treatment is expected to propel the growth of the drugs of abuse (DOA) testing market going forward.Drug abuse or substance abuse refers to the use of a substance in quantities that are harmful to the user or others. Drug testing aids in the identification of compounds that are not normally found in the body.The process starts with a screening test, which is followed by a second test to find and/or confirm the presence of a substance or substances, so increasing demand for drug abuse treatment will propel the market’s growth. For instance, in June 2021, according to United Nations Office on Drugs and Crime (UNODC), a US-based drug control and crime prevention organization, combining the United Nations International Report 2021 World Drug Report, over 36 million individuals in the world have drug use disorders, and over 275 million people used drugs in 2020. Therefore, increasing demand for drug abuse treatment is driving the drug of abuse (DOA) testing market. Technology advancement is a key trend gaining popularity in the drugs of abuse (DOA) testing market.Major companies operating in the drugs of abuse (DOA) testing market are focused on developing new technological solutions to strengthen their position in the market. For instance, in May 2020, a Canada-based technology company created instruments to detect THC in breath for law enforcement.Cannabix Technologies’ point-of-care breath testing solutions is used for the detection of 9-tetrahydrocannabinol ("THC"), the psychoactive element in marijuana that contributes to impairment, are at the forefront of industry research and development. The THCBA detects THC in breath using microfluidic sensor technology.The THCBA includes appealing features such as single-stage direct breath capabilities and a one-handed ergonomic design. So far, testing has shown that the device can produce results in less than 5 minutes from the time the sample is eaten. In June 2020, Medix Biochemica, a Finland-based biotechnology company, acquired Biostride Inc. for an undisclosed amount. With this acquisition, Biostride’s array of drug of abuse antibodies and antigens is now available to IVD and drug testing customers worldwide. The acquisition is consistent with Medix’s plan to streamline the IVD supply chain and emerge as the industry’s top provider of vital raw materials. Biostride Inc., a US-based producer of antibodies and antigens for the IVD industry for drugs of abuse and hormone testing. The countries covered in the drugs of abuse (DOA) testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The drugs of abuse (DOA) testing market research report is one of a series of new reports from.The Business Research Company that provides drugs of abuse (DOA) testing market statistics, including drugs of abuse (DOA) testing industry global market size, regional shares, competitors with a drugs of abuse (DOA) testing market share, detailed drugs of abuse (DOA) testing market segments, market trends and opportunities, and any further data you may need to thrive in the drugs of abuse (DOA) testing industry. This drug of abuse (DOA) testing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.