Coherent Market Insights | June 2018
ALCOHOL BREATHALYZER AND DRUG TESTING EQUIPMENT MARKET TO BE WORTH US$ 9.7 BILLION BY 2026
Global Alcohol Breathalyzer and Drug Testing Equipment Market, by Product Type (Immunoassay Analyzers, Chromatography Instruments, Breathalyzers, Oral Fluid Testing Devices, Urine Testing Devices, and Others), by Sample Type (Urine, Breathe, Saliva, and Hair), by End User (Hospitals, Federal Departments, Rehabilitation Centers, Private Sectors, and Others) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 4,765.6 Million in 2017 and is projected to exhibit a CAGR of 8.4%over the forecast period (2018 – 2026), as highlighted in a new report published by Coherent Market Insights. The alcohol breathalyzer and drug testing equipment market is expected to gain significant traction, owing to increasing number of research undertaken by organizations to developed ultra-sensitive technology for non-invasive breath measurement.
Launch of novel devices enabling continuous alcohol monitoring to bolster market growth
Researchers are discovering new treatment options for providing low cost alcohol monitoring device that sends data to doctors and can drastically reduce healthcare expenses in addiction treatment, which in turn is expected to augment the alcohol breathalyzer and drug testing equipment market size.
Key players are focused on research and development to introduce innovative products for enhancing roadside drug detection, by developing a portable solution for the convenience of the public defenders, thus, increasing adoption of these technologically advanced devices leading to growth of the market.
Moreover, increasing number of collaborations between manufacturers to develop innovative devices is a major factor augmenting the market growth.
Key Takeaways of the Alcohol Breathalyzer and Drug Testing Equipment Market:
- The global alcohol breathalyzer and drug testing equipment market is expected to exhibit a CAGR of 8.4% over the forecast period, owing to increasing number of laws enforced to prevent driving after alcohol consumption and increasing number for fatal accidents
- Among equipment type, breathalyzer segment holds a dominant position in the alcohol breathalyzer and drug testing equipment market, owing to enhanced efficiency, accuracy, technology, and increasing popularity of breath testing devices
- Among end user, hospital segment is expected to hold dominant position in the alcohol breathalyzer and drug testing equipment market over the forecast period, owing to increasing incidence of alcohol use disorder and rising adoption of the portable breathe analyzers in the medical setting for effective treatment
- Some of the major players operating in the global alcohol breathalyzer and drug testing equipment market are Dragerwerk AG & Co. KGaA, Quest Products, Inc., Intoximeters, Lion Laboratories Ltd., C4 Development Ltd., Alere, Inc., Lifeloc Technologies, BACtrack, Securetec Detektions-Systeme AG, and Andatech Private Ltd.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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Original press release posted by ABNewsWire https://www.abnewswire.com/pressreleases/alcohol-breathalyzer-and-drug-testing-equipment-market-to-be-worthus-97-billion-by-2026_229969.html