Jan 21, 2021 SOURCE: PR NewsWire

Rapid Oral Fluid Screening Device Market Size USD 24.08 Billion By 2027 | CAGR: 20.7% : Polaris Market Research

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)

    --  Alcohol
    --  Marijuana
    --  Opioids
    --  Cocaine
    --  Amphetamine
    --  Methamphetamine
    --  Benzodiazepines
    --  Others

Global Rapid Oral Fluid Screening Device Market, By Form (Revenue - USD Million, 2016 - 2027)

    --  Cassettes
    --  Swabs
    --  Strips

Global Rapid Oral Fluid Screening Device Market, By End-Use (Revenue - USD Million, 2016 - 2027)

    --  Hospital
    --  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)

Target Audience

    --  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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