NEW YORK, Jan. 21, 2021 /PRNewswire/ -- The global rapid oral fluid screening device market size is predicted to reach USD 24.08 billion by 2027. according to a new study conducted by Polaris Market Research. the market is anticipated to register a CAGR of 20.7% from 2020 to 2027. Increasing cases of alcohol and drug abuse have led to a surge in demand for screening devices, which in turn boosted the market growth. Additionally, stringent regulations enforced for mandatory testing for drug & alcohol, growing adoption of fluid screening devices by physicians and hospital-based laboratories to carry out diagnostic procedures are some of the key factors working in the favor of the market. To reduce the menace of drug and alcohol abuse, governments of various countries are working on the implementation of testing measures, thereby fueling market growth. Moreover, the rising cost associated with laboratory-based testing has resulted in a growing preference for on-the-spot-testing.
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Key Highlights of Rapid Oral Fluid Screening Device Market
- Strips segments contributed the largest revenue share in the rapid fluid screening device market owing to increased use by end-users as a replacement over the cassettes and swabs. Easy portability with better convenience makes strip a better choice compared to other rapid oral fluid screening devices
- Increasing R&D activities by manufacturers to create strong product pipelines of rapid oral fluid screening devices has boosted the overall development of the market. It has also helped institutions to get the products at cost-effective rates.
- With increased cases of road accidents in Asian countries, governments from the Asia Pacific regions started giving more emphasis on preventive measures. They have made it mandatory to conduct testing at workplaces as well as performing random checks on the road.
- The shorter detection period of rapid oral fluid screening devices makes such devices ideal investments for institutions to conduct screening of drug-impaired driving, creating lucrative opportunities for companies working in the industry.
Rapid oral fluid screening devices provide a wide range of screening abilities such as marijuana, cocaine, methamphetamine, and opioids are expected to drive rapid oral fluid screening device market growth over the forecast period. In addition, the growing need for drug screening across the regions owing to increasing consumption of illegal narcotics is expected to drive the demand for these devices in the coming years.
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Regional Outlook & Growth Analysis
North America is witnessing a significant surge in demand for rapid oral fluid screening devices owing to the increasing prevalence of drug abuse and stringent regulatory policies by respective institutions. Growing awareness among the population regarding the necessity of such a testing measure is also favoring market growth. The Asia Pacific is progressing as the fasted growing region on account of the growing need for screening alcohol abuse in-home care settings, workplaces, and roadside testing. The emerging need for having on the spot results to take necessary actions on the individuals is also driving major demand for such screening devices in the region.
Market Participants :
Players operating in the global rapid oral fluid screening device include OraSure Technologies, Inc., Oranoxis Inc., Guangzhou Wondfo Biotech Co., Ltd, UCP Biosciences, Inc., MEDACX Limited, Screen Italia Srl, and AccuBioTech Co. Ltd., among others. Moreover, developing and commercializing products that evaluate adherence to HIV medications, Market players are experiencing a surge in competition due to the entry of several giants into the industry. To stay ahead of the competitors, companies are focusing on developing more cost-effective products.
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Polaris Market Research has segmented the rapid oral fluid screening device market report on the basis of drug type, form, end-use, and region
Global Rapid Oral Fluid Screening Device Market, By Drug Type (Revenue – USD Million, 2016 – 2027)
Global Rapid Oral Fluid Screening Device Market, By Form (Revenue – USD Million, 2016 – 2027)
Global Rapid Oral Fluid Screening Device Market, By End-Use (Revenue – USD Million, 2016 – 2027)
- Diagnostic Laboratories
- Forensic Laboratories
- Private Employers
- Home Care Setting
Rapid Oral Fluid Screening Device Market Regional Outlook (Revenue – USD Million, 2016 – 2027)
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
- Supply Side: Medical Device Manufacturers and Suppliers
- Demand Side: Hospitals, Research Laboratories, Academic Medical Centers, Government Institutions
- Regulatory Side: World Health Organization (WHO)
- Associations and Industry Bodies: Food and Drug Associate (FDA)
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About Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.
SOURCE Polaris Market Research