Factors like increasing use of illicit drugs among teenagers; growing production of bath salts, synthetic cannabinoids, and other emerging drugs; and rising number of government initiatives to reduce the levels of drug abuse are projected to increase the at-home drug of abuse testing market size from $483.6 million in 2017 to $831.9 million by 2023. Due to these factors, the market is expected to progress at a CAGR of 9.6% during the forecast period.
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One of the prime factors driving the at-home DOA testing market growth is the increasing abuse of illicit drugs by teenagers. Adolescents, these days, are trying and experimenting with several illicit substances, such as drugs and alcohol, to escape from their troubles. In this search for an escape route, teenagers use drugs and gradually become addicted to them. To keep a check on these young kids, educational institutions and parents are adopting at-home drug of abuse (DOA) products like dip cards and strips.
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Geographically, North America led the market in the past, accounting for a share of 49.2% in 2016 because of the growing availability of illicit drugs, rising drug trafficking, and increasing workplace monitoring for consumption of illicit drugs. The U.S. held the major share of the market within the region in the past. The Asia-Pacific region is expected to advance at the fastest pace during the forecast period, owing to the surging consumption of illicit drugs and increasing compliance in companies for DOA testing.
This study covers
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings