Cotinine Testing Devices Market Reaches Valuation
DUBAI, United Arab Emirates, 01 Feb. 2022 (GLOBE NEWSWIRE) — The world Cotinine Testing Devices Market value of recorded sales US$429.9 million in 2021. The market is expected to expand at a cumulative CAGR of 4.7% and will grow 1.4X by the end of 2029, where sales are expected to be worth US$621.4 million.
According to a new market research report from Future Market Insights, the global cotinine testing devices market was valued at around US$429.9 million in 2021 and is expected to grow at a CAGR of around 4.7% during the forecast period 2022-2029. The report examines the Cotinine Testing Devices market and provides key insights for the forecast period 2022-2029.
According to the findings of the report, the global cotinine testing devices market is expected to witness significant growth over the forecast period, which will be triggered by a multitude of factors such as the increasing emphasis on “ value” and strong demand for effective screening techniques.
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|Data points||Market overview|
|Market value 2022||US$450.3 million|
|Market value 2029||US$621.4 million|
|Share of top 5 countries||71.9%|
|Key players||Major players in the Cotinine Testing 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. and Germaine Laboratories. , Inc.|
Develop markets to reflect new growth opportunities
Regions such as North America and Europe are expected to hold a major market share in terms of value. However, developing markets are expected to anticipate lucrative growth in the Global Cotinine Testing Devices Market over the forecast period 2022-2029. The exponential increase in workplace testing is one of the key drivers that is opening up new growth avenues for manufacturers of cotinine testing devices that they can take advantage of. Economic and technological parity of developing regions with developed regions is another major factor estimated to generate stable sales revenue for Cotinine Testing Devices market players.
Additionally, the increasing level of awareness and adoption of useful products in smoking cessation programs further enhances the lucrativeness of developing markets such as China, India, and Brazil. Factors such as rising prevalence of smoking, employee illicit drug testing, sporting events, and health plan premium decision are expected to boost sales of cotinine testing devices in developing countries.
The burgeoning middle class population along with the multiple compliances created for recruitment into the armed forces are expected to increase the potential use cases of cotinine testing devices in 2022 and beyond. Contract manufacturing services available in developing markets, coupled with cheap labor, are expected to boost the investment quotient and attractiveness of developing countries, making them hotbeds of opportunity of growth.
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|Historical data available for||2014-2021|
|Market analysis||Million USD for 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 South.|
|Key Segments Covered||Device type, sample type, end user and region|
|Profiled Key Companies||• Abbott Laboratories
• AlcoPro inc.
• Jant Pharmaceutical Corporation
• Sinocare Inc.,(PTS Diagnostics)
• Mossman Associates
• Nano-Ditech Corp.
• LifeSign LLC
• ALFA Scientific
• Ameritek United States.
• Hangzhou Clogene Biotech Co.
• Germaine Laboratories, Inc.
|Report cover||Market forecasts, competitive intelligence, DROT analysis, market dynamics and challenges, strategic growth initiatives|
End users should view marked preferences for cassettes
By device type, cassettes are expected to hold significant value shares of the global cotinine screening devices market. This is primarily a result of the cost effectiveness, ease of screening, rapid detection and portability of these compact cotinine screening devices. The report profiles the leading Cotinine Testing Devices market players whose success is driven by their strong portfolios and regional presence.
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The global cotinine testing devices market is significantly consolidated with a group of players holding major market shares. These players offer 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 elements in the growth and expansion strategies of players in the cotinine testing devices market, with a focus on building new business models as well as distribution channels .
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