According to Fact MR’s recent market research, sales of Rapid Oral Fluid Screening Devices to swell at propelled CAGR through 2031, as investment towards expansion of healthcare infrastructure continues rising. The goal of the survey is uncover growth opportunities, key trends, growth drivers, and challenges. It also provides recommendations to assist businesses in preparing for unforeseen challenges.
Focus on improving overall patient care will remain a chief growth driver. Besides this, Rapid Oral Fluid Screening Devices market will continue gaining from increasing willingness among patients and families to spend on advanced healthcare.
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To offer an in-depth overview, the report provides sales projections for over 20 countries. It also identifies segments exhibiting maximum growth.
Digital Transformation in Healthcare Presenting Opportunities for Rapid Oral Fluid Screening Devices Market Growth
Healthcare organizations around the world are deploying digital tools to accommodating changing consumer preferences. They are pressing on solving the long-standing challenge pertaining to care model innovation.
Considering this, the focus on making healthcare affordable and more transparent will increase. Adoption of care model innovation in healthcare will have a profound impact on the Rapid Oral Fluid Screening Devices market.
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Rapid Oral Fluid Screening Devices market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Rapid Oral Fluid Screening Devices
The report offers actionable and valuable market insights of Rapid Oral Fluid Screening Devices. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Rapid Oral Fluid Screening Devices Market across various industries and regions.
This newly published and insightful report sheds light on Market Insights of Rapid Oral Fluid Screening Devices, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Rapid Oral Fluid Screening Devices Market.
Rapid Oral Fluid Screening Devices Market – Key Insights
- The rapid oral fluid screening devices market registered growth at a CAGR of over 4% during the period, 2013–2017. The growth rate of rapid oral fluid screening devices market can be attributed to a cohort of factors, such as growing alcohol & drug consumption. Moreover, stringent regulations put into place for mandatory drug & alcohol testing are also working in favor of the manufacturers of oral fluid screening devices.
- The 6-panel saliva test kits segment accounted for over 30% revenue share in 2017 and will continue to be the ‘top-selling’ variant among all other product types in the rapid oral fluid screening devices market.
- North America will continue to be the leading market for rapid oral fluid screening devices alongside the ever-increasing instances of drug abuse & alcoholism. Nearly 19.7 million adults (aged 12 & older) suffered from substance use disorder resulting in adverse effects on health, according to a study by the National Survey on Drug Use and Health (NSDUH).
- South Asia will emerge as a high-growth market for rapid oral fluid screening devices on account of rising cases of illicit drug usage. Strenuous efforts to prevent drug abuse by governments of leading South Asian countries are likely to propel growth of this regional market.
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Worldwide sales of rapid oral fluid screening devices are estimated to surpass 17,700 thousand units in 2019, up from nearly 16,500 units in 2018. The growing demand for of rapid oral fluid screening devices can be attributed to the ever-augmenting cases of drug abuse and alcoholism in many countries across the globe. Tougher regulations and mandates for drug and alcohol testing continue to induce momentum in this market.
The study finds that efficacy of oral fluid for drug testing is being widely acknowledged on account of accuracy and precision of results. Multiple applications, such as pain management, drug treatment, and DUID (driving under influence of drugs) or drug-impaired driving, entail use of rapid oral fluid screening devices for instant yet accurate results. In addition, increasing number of hospital-based laboratories and independent laboratories are making use of rapid oral fluid screening devices to perform multimodal tests.
As per the research study, oral fluid serves as a viable medium for drug testing, on account of the convenience to collect and low risks of sample adulteration. Results obtained via oral fluid offer better understanding of the impact of drug abuse and seamless evaluation of an individual’s behavioral changes. As per the report, shorter window of time will continue being a key growth inhibitor of rapid oral fluid screening devices market. Drugs ingested in less than around 24 hours and cannabis ingested in less than around 4 hours are effectively detected by these devices, which makes them a misfit in case of challenging and prolonged screening sessions. This, in turn, is likely to pose significant challenges for the manufacturers in the rapid oral fluid screening devices market.
Prescription drug abuse i.e. the intentional usage of medications without prescriptions is emerging as a serious concern across the globe that can lead to devastating results. The practice of prescription drug abuse rising at alarming rates and subsequent number of deaths in consequence of drug overdose is resulting in ever-increasing number of emergency room visits, which, in turn, is likely to significantly contribute to growth of rapid oral fluid screening devices market.
End-Users Prefer Strips as Ideal Rapid Oral Fluid Screening Devices over Swabs and Cassettes
According to the research study, end-users are likely to opt for strips over swabs and cassettes, with global sales anticipated to exceed 11,400 thousand units in 2019. Easy-to-carry with minimum inconvenience involved makes strip a feasible option as compared to other forms of rapid oral fluid screening devices. In addition, strips are highly cost-effective as compared to swabs and cassettes, which makes it a viable investment for end-users who value frugality. As per the report, Europe and North America represent are likely to brim with opportunities for the key players of rapid oral fluid screening devices market, on account of the highest rates of illicit drug usage.
One of the pervasive trends favoring the growth of rapid oral fluid screening devices market is the ever- growing trend of workplace drug testing. More and more number of employers are conducting oral fluid testing sessions for post-accident, pre-employment, and randomized drug tests using rapid oral fluid screening devices. This process of drug test results in multiple financial and practical benefits, providing enough credence to its importance in dynamic workplaces.
The research report by Fact.MR offers incisive insights into the forecast analysis of rapid oral fluid screening devices market. As per the report, the rapid oral fluid screening devices market is estimated to grow at a value CAGR of over 7% during the forecast period.
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Report Benefits & Key Questions Answered
- Rapid Oral Fluid Screening Devices Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
- Rapid Oral Fluid Screening Devices Historical volume analysis: The report provides a comparison of Rapid Oral Fluid Screening Devices’s historical sales and projected sales performance for 2021-2031.
- Rapid Oral Fluid Screening Devices Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Rapid Oral Fluid Screening Devices market. It carefully gauges the impact of changing healthcare needs of key demographics globally
- Rapid Oral Fluid Screening Devices Consumption by demographics: The report investigates consumer behavior affecting Rapid Oral Fluid Screening Devices demand outlook for the assessment period. Effect of their keenness for digital trends on Rapid Oral Fluid Screening Devices market is carefully analyzed
- Post COVID consumer spending on Rapid Oral Fluid Screening Devices: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Rapid Oral Fluid Screening Devices market growth.
More Valuable Insights on Rapid Oral Fluid Screening Devices Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Rapid Oral Fluid Screening Devices, Sales and Demand of Rapid Oral Fluid Screening Devices, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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