The global Cotinine Screening Devices Market sales is anticipated to reach US$ 450.3 million by 2022. The market is estimated to grow at a cumulative CAGR of 4.7% and will rise 1.4X by the end of 2032, with sales totaling US$ 645 million.
According to the report’s findings, the global Cotinine Screening Devices Market is expected to grow significantly over the forecast period, owing to a number of factors such as a growing emphasis on ‘value-driven’ healthcare services and high demand for effective screening techniques.
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Developing Markets to Reflect New Growth Possibilities
North America and Europe are likely to have a significant market share in terms of value. However, developing markets are likely to have profitable growth in the global cotinine screening equipment market from 2022 to 2032. One of the primary drivers establishing new growth pathways for makers of cotinine screening equipment is the exponential rise in workplace screening. Another major aspect expected to provide consistent sales revenue for cotinine screening equipment market players is the economic and technological parity of developing and developed regions.
Furthermore, increased levels of knowledge and use of smoking cessation products are bolstering the attractiveness of developing countries such as China, India, and Brazil. Factors such as increasing smoking prevalence, screening employees for illicit drugs, sporting events, and determining health plan premiums are expected to drive up sales of cotinine screening equipment in emerging countries.
The growing middle-class population, as well as the numerous compliances required for military recruitment, are expected to expand the possible use cases of cotinine screening devices in 2022 and beyond. Contract manufacturing services accessible in developing markets, along with a cheap labour force, are predicted to increase developing countries’ investment and attractiveness quotients, transforming them into nothing less than hotbeds of growth prospects.
End Users to Show Marked Preferences for Cassettes
By device type, the cassettes are expected to hold prominent value shares of the global cotinine screening devices market. This has majorly resulted from the cost effectiveness, ease of screening, quick detection, and portability of these compact cotinine screening devices. The report features the prominent players in the cotinine screening devices market, whose success has been riding on their strong portfolios and regional presence.
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The global cotinine screening devices market is significantly consolidated with a chunk of players commanding prominent shares of the market. These players are offering cotinine screening devices under their popular brands such as Accutest®, ALERE ISCREEN®, Reditest®, QuickProfile™, NicCheck™ I, DrugCheck® SalivaScan™, TobacAlert®, among others. Mergers and acquisitions will remain one of the key part of the growth & expansion strategies of cotinine screening devices market players, with an extensive emphasis on creating newer business models as well as distribution channels.
Cotinine Screening Devices Market, By Category
Device Type:
- Cassettes
- Strips
- Reader
By Sample Type:
- Blood Sample
- Urine Sample
- Saliva Sample
By End-User:
- Hospitals
- Laboratories
- Clinics
- Workplace Screening Centers
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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