Dubai, United Arab Emirates, February 1, 2022 (GLOBE NEWSWIRE) – Global cotinine test device market Recorded sales value 429.9 million USD In 2021. The market is expected to expand at a CAGR 4.7% It will grow 1.4X By the end of 2029, sales are expected to be valuable $621.4 million USD
According to a new market research report by Future Market Insights, the global cotinine test device market was valued at approximately $429.9 million in 2021 and is expected to increase at a compound annual growth rate of approximately 4.7% during the forecast period 2022-2029. The report examines the Cotinine Screening Devices Market and provides important insights for the forecast period from 2022-2029.
According to the findings of the report, the global Cotinine Screening Devices market is expected to witness significant growth during the forecast period, which will be triggered by a large number of factors such as the increasing focus on “value-based” healthcare services and the rising demand for efficient screening technologies.
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|data points||market insights|
|Market value 2022||450.3 million US dollars|
|Market value 2029||$621.4 million USD|
|Share of the largest 5 countries||71.9%|
|The main players||The major players in the Cotinine Screening Devices market are Abbott Laboratories, AlcoPro, Jant Pharmacal Corporation, Sinocare Inc. , Mossman Associates, Nano-Ditech Corp, LifeSign LLC, ALFA Scientific, Ameritek USA. Hangzhou Clongene Biotech Co., Ltd. , and Germaine Laboratories, Inc.|
Develop markets to reflect new growth possibilities
Regions such as North America and Europe are expected to enjoy significant market share in terms of value. However, developing markets are expected to anticipate profitable growth in the global cotinine testing device market in the forecast period 2022-2029. The explosive rise in workplace screenings is one of the main drivers that are creating new growth alleys for cotinine screening device manufacturers to reap the benefits from it. Economic and technological parity between developing regions with developed regions is another major factor that is estimated to generate consistent sales revenue for market players of cotinine screening devices.
Moreover, the high level of awareness and adoption of beneficial products in smoking cessation programs is also supporting profitability for developing markets such as China, India and Brazil. Factors such as the increasing prevalence of smoking, screening of employees for illegal drugs, sporting events, and health plan premium setting are expected to increase sales of cotinine screening devices in developing counties.
A growing middle-class population combined with the many compliance processes created for recruitment into the armed forces are expected to increase potential use cases for cotinine screens in 2022 and beyond. Contract manufacturing services available in developing markets coupled with cheap manpower are expected to enhance the investment quotient and attractiveness of developing countries, making them not less than hotbeds of growth opportunities.
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|Historical data available for||2014-2021|
|market analysis||Million dollars for the value|
|Main countries covered||United States, Canada, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC countries, Turkey, South Africa.|
|Major sectors covered||Device type, sample type, end user and region|
|An overview of the main companies||• Abbott Laboratories
• AlcoPro Inc.
• Gantt Pharmacal Corporation
• Sinocare Inc. , (PTS Diagnostics)
• Mosman Associates
• Nano-Ditech Corp
• LifeSign LLC
• Alpha Scientific
• Ameritech USA.
• Hangzhou Clongene Biotech Co., Ltd.
• Germaine Laboratories, Inc.
|Report coverage||Market forecast, competition intelligence, DROT analysis, market dynamics and challenges, strategic growth initiatives|
End users must show specific preferences for tapes
By device type, Cassettes are expected to hold prominent valuable shares in the global Cotinine Screening Devices market. This has resulted in large part from the cost-effectiveness, ease of examination, rapid detection, and portability of the compact cotinine assay devices. The report reviews the prominent players within the Cotinine Screening Devices market, whose success is dependent on their robust portfolios and regional presence.
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The global Cotinine Screening Devices market is highly integrated with a large group of players dominating prominent shares in the market. These players offer cotinine testers under their popular brands such as Accutest®, ALERE ISCREEN®, Reditest®, QuickProfile™, NicCheck™ I, DrugCheck® SalivaScan™, TobacAlert® and more. Mergers and acquisitions will remain a key part of the growth and expansion strategies of players in the Cotinine Screening Devices market, largely focusing on creating new business models as well as distribution channels.
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