Vision Research Report, Recently Announced New Report on “drug of abuse testing services market – Global Industry Analysis, Market Size, Share, Growth, Trends, Region Outlook, And Segment Forecasts, 2021 – 2030″.
Global “Drug of abuse testing services market” Report 2021 covering manufacturers, regions, segments, forecast to 2030 is that the recent research report with correct information and extremely authentic info. The report provides insights on market share, market size, rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, and distributors. The Drug of abuse testing services research report focuses on the competitive surroundings that has section on company profile covering product specifications, geographical coverage, recent developments, revenue analysis, and market shares. what is more, the report offers strategic recommendations so as to help the consumers to align business goals.
The Drug of abuse testing services market revenue share is set to grow at a yearly rate of 15.2% during 2021-2030, while its valuation is Projected to jump from $ XX Bn in 2020 to $4.8 Bn in 2030.
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Report Highlights
The cannabis/marijuana segment dominated the overall market in 2020 with a share of 26.0%. This can be attributed to the fact that marijuana or cannabis is the most commonly used illicit drug in the world. According to the Substance Abuse and Mental Health Services Administration, in 2018, the most commonly used illicit drug in the U.S. was marijuana, which was used by about 43.5 million people. Based on drug type, the market is segmented into alcohol, cannabis/marijuana, cocaine, opioids, amphetamine and methamphetamine, LSD, and others.
The opioids segment accounted for the second-largest share in 2020. This can be attributed to the increasing opioid crisis in key regions, such as North America and Europe. As per data published by the National Center for Drug Abuse Statistics, in 2018, around 2 million people in the U.S. had opioid use disorder (including heroin abuse and prescription pain reliever). Furthermore, key players in the market are undertaking organic growth strategies to expand their opioids testing portfolio.
In 2020, North America captured the largest share of 39.1%, primarily due to the presence of prominent players undertaking extensive expansion strategies. Its dominant share can also be attributed to the increasing prevalence of substance abuse in the region and government initiatives to control it. Furthermore, an increased rate of substance use disorder due to the COVID-19 pandemic is anticipated to boost the demand for the drug of abuse testing services in the region. However, nationwide lockdowns due to COVID-19 are anticipated to reduce the demand for workplace drug testing services, thus leading to sluggish market growth.
Global Drug of abuse testing services market report provides key statistics on the state of the trade and could be a valuable supply of steerage and direction for corporations and people curious about the market. The Drug of abuse testing services trade trends and promoting channels analysed. Drug of abuse testing services Market discovers numerous topics like regional market scope, product market numerous applications, market size consistent with specific product, sales and revenue by region, producing analysis, Industrial Chain, Market result Factors Analysis, market size forecast, and more. Finally, the practicableness of latest investment comes is evaluated and overall analysis conclusions offered.
Key Players
Market Segmentation
Global Drug of abuse testing services Market: Drivers and Restrains
The analysis report has incorporated the analysis of various factors that augment the market’s growth. It constitutes trends, restraints, and drivers that remodel the market in either a positive or negative manner. This section additionally provides the scope of various segments and applications that may probably influence the market within the future. The elaborated info is predicated on current trends and historic milestones. This section additionally provides an analysis of the amount of production regarding the world market and regarding every kind from 2021-2030.
COVID-19 impact on the Drug of abuse testing services market
COVID-19 is associate communicable disease caused by the novel coronavirus. for the most part unknown before this happening across the world, COVID-19 has captive from a regional crisis to a worldwide pandemic in precisely a matter of a number of weeks. the world Health Organization (WHO) declared COVID-19 as an epidemic on March 11, 2021.
COVID-19 has compact most the industries across the world by disrupting provide chains and impeding numerous industrial operations. COVID-19-responsive measures undertaken by governments, like lockdown and social distancing, led to the closure of producing plants in the initial stage of the pandemic. With only a few industrial operations allowed, the demand for numerous input product within the industrial sector has declined considerably.
Key Highlights Involved in the Market Research Report: –
Drug of abuse testing services Market Study Coverage: It includes key market segments, key makers covered, the scope of product offered within the years thought of, world Drug of abuse testing services Market and study objectives. in addition, it touches the segmentation study provided within the report on the idea of the sort of product and applications.
Drug of abuse testing services Market executive Summary: This section emphasizes the key studies, market rate, competitive landscape, market drivers, trends, and problems additionally to the gross indicators.
Drug of abuse testing services Market Production by Region: The report delivers knowledge associated with import and export, revenue, production, and key players of all regional markets studied area unit coated during this section.
Drug of abuse testing services Market Profile of Manufacturers: Analysis of every market player profiled is elaborated during this section. This section conjointly provides SWOT analysis, products, production, value, capacity, and different very important factors of the individual player.
The report delivers a comprehensive study of all the segments and shares info concerning the leading regions within the market. This report additionally states import/export consumption, offer and demand Figures, cost, business share, policy, price, revenue, and gross margins.
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