Breathalyzer Market: North America Remains at the Forefront of Global Demand – FactMR Study
UNITED STATES, November 24, 2021 /EINPresswire.com/ — According to Fact MR’s recent market research, sales of Breathalyzer 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, Breathalyzer 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 Breathalyzer 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 Breathalyzer 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 Breathalyzer 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 Breathalyzer
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The report offers actionable and valuable market insights of Breathalyzer. 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 Breathalyzer Market across various industries and regions.
This newly published and insightful report sheds light on Market Insights of Breathalyzer, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Breathalyzer Market.
Global Breathalyzer – Competitive Landscape
In 2017, Thermo Fisher Scientific Inc. acquired Patheon N.V. with an aim to leverage Patheon’s excellent CDMO capabilities for the company’s clinical trials services as well as bioproduction technologies. Thermo Fisher acquired about 95.3% of Patheon’s market share.
In 2017, Abbott completed the acquisition of Alere to maximize its diagnostics outreach and leverage Alere’s technologies to offer better treatment by meeting their rising demand for speedy, reliable, and actionable medical data.
Intoximeters, INC. developed a breathalyzer, Alco Sensor IV, which provides an accurate and economical method of determining the concentration of alcohol. The device is easily accessible and is developed using integrated fuel cell technology. The device is extensively used by law enforcement bodies as a preliminary breathalyzer.
Other key players operating in the global breathalyzer market comprise of AK Global Technology, Prentke Romich Company INC, Dragerwerk AG, Intoximeters, INC, Quest Products INC, Tobii Dynavox, Saltillo Corporation, Lifeloc Technologies INC, Toby Churchill Limited, and Lingraphica, among others.
According to Fact.MR, the global breathalyzer market was valued at US$ 600 Mn in 2018, and it is anticipated to clock 7.5% Y-o-Y over 2018 to surpass US$ 645 Mn by 2019 end. The recently published report by Fact.MR analyses the growth prospects of the global breathalyzer market by studying several key influencing factors.
The study finds that the rising demand for breathalyzer s in the government agencies for law enforcement applications will continue to gain traction in 2019 with an estimated valuation of US$ 250 Mn by the year end. Such proliferated rate of adoption of breathalyzer s has encouraged the manufacturers to devise feature-rich and portable devices with utmost efficiency. As a result, a notable shift towards the convergence of technological innovation and breathalyzer devices is witnessed with an aim to provide utmost accuracy.
“breathalyzers are gaining popularity as a crucial diagnostic equipment in medical settings for the detection of multiple diseases, owing to the cost-efficiency, ease of use, and portability that these devices offer. With their extended applications in the diagnostics centers, the global breathalyzer market is poised to witness promising growth prospects,” says the Fact.MR report.
Breathalyzers Sales to Soar as Demand from Law Enforcement Bodies and Medical Settings Continue to Rise
Rising trends of alcohol consumption in parallel to the growing number of cars used as the primary mode of transportation have resulted in a large number of road accidents. As a result, surging demand for determining the blood alcohol content (BAC) from the government agencies is projected to positively impact the growth of the global breathalyzer market, especially in North America. According to the U.S. law, individuals with a BrAC level of 0.08% and over are prosecuted. In such cases, breathalyzer s are used as crucial evidence for criminal trials. In addition to alcohol, there is a notable increase in the proclivity of individuals for drugs consumption. As a result, the manufacturers of the breathalyzer market have been endeavoring towards enhancing the functionality of their products to detect the cases of drug abuse.
According to the report, breathalyzer s also find their applications in the medical field. Surging demand for breathalyzer s in diagnostics centers and hospitals is attributed to the excellent ability of such devices to diagnose asthma, tuberculosis, and pylori infection, which in turn, eliminates the need for multiple blood sample tests. This paves way for the growth of the global breathalyzer market
Concerns Over Reliability and Hygiene Continue to Impede Sales
Fact.MR predicts limited growth opportunities for the global breathalyzer market, owing to the inefficiency of the devices to detect alcohol from other chemical compounds consisting of a methyl group structure. Additionally, lip glosses, mouthwash, dentures, and asthma inhalers can modify the results of the devices. Such inaccuracies in the results could pose a challenge to the adoption rate of these devices. Another crucial restraint for the breathalyzer market is the unhygienic conditions and rising health concerns, owing to which drivers hesitate to undergo such tests.
Fuel Cell Technology Holds Over Half of the Total Revenue Acquired by the breathalyzer Market
As per the report, fuel cell technology is more favored over semiconductor sensor technology, on account of its portability, alcohol specificity, and accuracy. Fact.MR forecasts that the fuel cell segment will register a valuation of over US$ 380 Mn in the breathalyzer market by 2019. The technology holds over half of the total revenue acquired by the global breathalyzer market and it is predicted to hold the largest share in the technological segment with North America contributing massively to its growth.
The Fact.MR research report analyzes the breathalyzer market for the period 2012 – 2022. According to the study, the global breathalyzer market is expected to grow at a promising CAGR through 2022.
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Report Benefits & Key Questions Answered
Breathalyzer 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.
Breathalyzer Historical volume analysis: The report provides a comparison of Breathalyzer’s historical sales and projected sales performance for 2021-2031.
Breathalyzer Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Breathalyzer market. It carefully gauges the impact of changing healthcare needs of key demographics globally
Breathalyzer Consumption by demographics: The report investigates consumer behavior affecting Breathalyzer demand outlook for the assessment period. Effect of their keenness for digital trends on Breathalyzer market is carefully analyzed
Post COVID consumer spending on Breathalyzer: 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 Breathalyzer market growth.
More Valuable Insights on Breathalyzer Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Breathalyzer, Sales and Demand of Breathalyzer, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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Source: EIN Presswire