Drug & Alcohol Test Kit Manufacturing in the US - Industry Market Research Report
Description
Drug & Alcohol Test Kit Manufacturing in the US
Drug and alcohol test kit manufacturers have benefited in recent years as demand for drug and alcohol test kits has risen. In recent years, growing rates of substance abuse and the penetration of fentanyl into the drug supply has made test kits more critical than ever. Manufacturers' growth was disrupted by the COVID-19 pandemic, as priorities abruptly shifted to combatting the pandemic. Several manufacturers, including industry leader Abbott, pivoted to develop and produce test strips that could detect the virus. Still, elevated rates of substance abuse post-COVID led manufacturers to recover revenue quickly, although global supply chain snags and labor shortages have been challenging to navigate, straining profit. In all, industry-wide revenue has been expanding at a CAGR of 3.2% over the past five years – totaling an estimated $3.7 billion in 2023 – when revenue will likely increase 1.0%.
This industry manufactures home diagnostic kits that test for the presence of alcohol or drugs in an individual. Test kits are intended for home use, although some may require a tester to send a sample to an authorized laboratory.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Drug and alcohol test kit manufacturers have benefited in recent years as demand for drug and alcohol test kits has risen. In recent years, growing rates of substance abuse and the penetration of fentanyl into the drug supply has made test kits more critical than ever. Manufacturers' growth was disrupted by the COVID-19 pandemic, as priorities abruptly shifted to combatting the pandemic. Several manufacturers, including industry leader Abbott, pivoted to develop and produce test strips that could detect the virus. Still, elevated rates of substance abuse post-COVID led manufacturers to recover revenue quickly, although global supply chain snags and labor shortages have been challenging to navigate, straining profit. In all, industry-wide revenue has been expanding at a CAGR of 3.2% over the past five years – totaling an estimated $3.7 billion in 2023 – when revenue will likely increase 1.0%.
This industry manufactures home diagnostic kits that test for the presence of alcohol or drugs in an individual. Test kits are intended for home use, although some may require a tester to send a sample to an authorized laboratory.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
41 Pages
- ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
KEY STATISTICS
Industry Data
Annual Change
Key Ratios
JARGON & GLOSSARY
Search Inside Report
Pricing
Currency Rates
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