Kenneth Research, in its repository of market research reports, have recently added a report on Global Roadside Drug Testing Devices Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031. The Global Roadside Drug Testing Devices Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical/Energy industries, creating a huge demand for products.
Enquire before purchasing this report – : https://www.kennethresearch.com/sample-request-10321986
Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global Roadside Drug Testing Devices Market is valued approximately at USD 999.4 million in 2019 and is anticipated to grow with a healthy growth rate of more than 4.0% over the forecast period 2020-2026. Drug testing devices are used to analyze biological samples such as blood, hair & urine etc., to diagnose the existence of drug abuse or its metabolites in patient’s body. Broad drug and alcohol testing portfolio involve of rapid analyzer-based tests, immunoassay reagents, laboratory tests, and visual-read screening devices. These testing can help law enforcement agencies to test suspicious drivers from drug and alcohol intake, and quickly get them off the road. As the incidences of deaths caused due to drink and drive scenarios is an alarming rate of concern for government authorities worldwide. Rise in usage of drugs and alcohol among youth and elderly population, overconsumption of prescribed drugs and the enforcement of stringent laws mandating for drug testing are the few factors responsible for high CAGR of the market over the forecast period. According to the World Drug Report 2019 released by UNODC (United Nations Office on Drugs and Crime), there were around 35 million people suffer from drug use disorders around the world, while only 1 in 7 people receive treatment. Similarly, as per the World Drug Report 2017, the UNODC claims that almost 29.5 million people suffer from drug use disorders around the world. This, in turn, is anticipated to accelerate the demand of Roadside Drug Testing Devices around the world. However, ban on alcohol consumption in Islamic countries and prohibition of workplace drug testing in some countries are the few factors expected to restrain the market growth over the forecast period of 2020-2026.
The regional analysis of global Roadside Drug Testing Devices market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rising consumption of illicit drugs, along with the high availability of government funding to curb drug abuse in the region. However, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026, due to increasing cases of accidents due to overconsumption of drugs and rising availability of public and private funding towards the production of drugs testing device in the region.
Major market player included in this report are:
AK GlobalTech Corporation.
Akers Biosciences, Inc.
Alcohol Countermeasure Systems Corp
Cannabix Technologies Inc.
Drägerwerk AG & Co. KGaA
Lifeloc Technologies, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Sample Type:
Drug Enforcement Agencies
Rest of the World
Get a Sample Copy of this Report with Graphs and Charts: https://www.kennethresearch.com/sample-request-10321986
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026
Target Audience of the Global Roadside Drug Testing Devices Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
About Kenneth Research
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defence, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research, are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
Email : email@example.com
Phone: +1 313 462 0609