Rapid Oral Fluid Screening Market to Register 7% CAGR Amid Rising Efforts By Government to Prevent Drug Abuse
20 Oct 2022
AcquisitionCollaborate
Rising Preference for Strips Over Slab and Cassettes to Create Lucrative Prospects for Rapid Oral Fluid Screening Companies
The rapid oral fluid screening devices market research report published by Fact.MR delves into key observations concerning prominent expansion parameters prevailing across key segments for the upcoming decade. It provides details about growth drivers, trends, and opportunities across leading segments, including drug type, forms, product type, end user, and region.
NEW YORK, Oct. 20, 2022 /PRNewswire/ -- The global rapid oral fluid screening devices market is projected to grow at a robust CAGR of 7% during the forecast period (2018-2028). Rising incidence of alcohol and drug misuse across the world is the key factor providing impetus to the growth in rapid oral fluid screening devices market.
Similarly, stringent regulations put into place for mandatory drug & alcohol testing is expected to bolster the demand in the market over the forecast period (2018-2028). Subsequently, increased usage of fluid screening devices by physicians and hospital-based laboratories to carry out diagnostic operations will aid the growth.
Governments in numerous nations are working on evaluating strategies to lessen the threat of drug and alcohol misuse. This is expected to push the demand for rapid oral fluid screening devices during the forecast period. Furthermore, as technology becomes easier to build and is subject to limited laws, the market is becoming more accessible to new players.
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In terms of forms, the strips are expected to be the dominant segment as end-users prefer them over swabs and cassettes due to their attractive benefits. Strips are predicted to provide a better solution as compared to other types due to their ease of mobility and convenience.
They are also less expensive than swabs and cassettes, which is why a significant number of people choose to use them. Aside from the benefits of the strips, another set of variables driving the growth of the target segment is the increased necessity for screening drugs and alcohol owing to increased usage and addiction.
Regionally, North America is predicted to lead the global rapid oral fluid screening devices market during the projection period. This can be attributed to the ever-increasing instances of drug abuse & alcoholism, increasing efforts of the government to prevent drug abuse and availability of advanced products.
Based on forms, strips segment will continue to lead the global rapid oral fluid screening devices market during the forecast period.
The 6-panel saliva test kits category contributed more than 30% of
revenue share in 2017 and it is likely to retain its dominance during the forecast period.
North America will continue to remain at the top of the ladder in the global rapid oral fluid screening devices market through 2028.
South Asia rapid oral fluid screening devices market is expected to grow at the highest CAGR during the next ten years.
The U.S. rapid oral fluid screening devices market is likely to grow at a robust pace during the projected period.
Growth Drivers:
Rising alcohol & drug consumption along with implementation of stringent regulations for mandatory drug & alcohol testing is expected to boost the rapid oral fluid screening devices market.
Increased prescription drug abuse is expected to fuel the expansion of the rapid oral fluid screening devices market during the forecast period.
Rapid transition from lab-based screening to disposable devices is expected to push the demand for rapid oral fluid screening devices during the projected period.
Restraints:
Shorter window of detection with rapid oral fluid screening devices is restraining the growth of the market.
The growth will also be hampered by a lack of knowledge about the existence of advanced rapid saliva screening devices.
High expenses associated with research and development capabilities will stymie market expansion.
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Key players in the rapid oral fluid screening devices market are adopting strategies such as new product launches and approvals, partnerships, acquisitions, mergers, and collaborations to increase their sales and expand their global footprint.
For instance,
In 2018, Premium Biotech Inc. received 510(k) clearance from the Food and Drug Administration (FDA) for two additional oral fluid assays, Oxycodone and Methadone for OralTox, their patented rapid oral fluid drug screen device.
In March 2021, to provide customers with the most recent advancement in fast oral drug testing, Data Facts, a top provider of domestic and international background screening solutions, announced a partnership with Premier Biotech.
Key Companies Profiled by Fact.MR
Securetec Detektions-Systeme AG
MEDACX Ltd.
AccuBioTech Co. Ltd.
More Valuable Insights on
Rapid Oral Fluid Screening Devices Market
In the latest study, Fact.MR offers a detailed study on global rapid oral fluid screening devices market for the forecast period of 2018 to 2028. This study also highlights key drivers promoting the sales of rapid oral fluid screening devices through detailed segmentation as follows:
Drug Type:
Alcohol
Marijuana (THC)
Opioids
Cocaine
Amphetamines
Methamphetamines
Benzodiazepines
Others
Forms:
Cassettes
Swabs
Strips
Product Type:
1- Panel Saliva Drug Test Kits
4- Panel Saliva Drug Test Kits
5- Panel Saliva Drug Test Kits
6- Panel Saliva Drug Test Kits
7- Panel Saliva Drug Test Kits
8- Panel Saliva Drug Test Kits
9- Panel Saliva Drug Test Kits
10- Panel Saliva Drug Test Kits
12- Panel Saliva Drug Test Kits
End User:
Hospitals
Private Employers
By Region:
North America
Latin America
Europe
Oceania
Middle East & Africa
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Key Questions Covered in the Rapid Oral Fluid Screening Devices Market Report
What is the projected value of the rapid oral fluid screening devices market in 2018?
At what rate will the global rapid oral fluid screening devices market grow until 2028?
Which are the factors hampering the growth in the rapid oral fluid screening devices market?
Which region is expected to lead in the global rapid oral fluid screening devices market during 2018-2028?
Which are the factors driving the rapid oral fluid screening devices market during the forecast period?
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About Fact.MR
Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories. We are committed to deliver insights that help businesses gain deeper understanding of their target markets. We understand that making sense of the vast labyrinth of data can be overwhelming for businesses. That's why focus on offering insights that can actually make a difference to bottom-lines.
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