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| Global Breathalyzers Market |
The global Breathalyzers Market is estimated to be valued at US$ 10.6 Bn in 2023 and is expected to
exhibit a CAGR of 18 % over the
forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market Overview:
Breathalyzers are devices used to test the alcohol content in human breath in order
to determine alcohol impairment level. These devices are compact, portable and
easy to use instruments used for preliminary screening of alcohol presence in
the human body by law enforcement agencies, healthcare professionals and
individuals. Breathalyzers provide accurate, rapid and convenient blood alcohol
content (BAC) readings which aids in curbing alcohol consumption while driving
as well as enables early intervention in alcoholism treatment.
Market key trends:
Growing emphasis on road safety measures and stringent regulations against
drink driving in various countries is a major factor driving demand for
breathalyzers. Furthermore, remote breathalyzer testing solutions gaining
popularity for employee alcohol screening and alcohol monitoring of
parolees/probationers is expected to open lucrative growth opportunities.
Technological advancements in sensor technology and development of touchscreen
enabled smart breathalyzers with wireless connectivity solutions are some
recent trends witnessed in the market. However, alternative mobile apps based
on speech and face analysis offer competition to traditional breathalyzer
devices.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate due to the
requirement of large investments in R&D and manufacturing of breathalyzers.
However, the growth in the market provides opportunities for new players.
Bargaining power of buyers: The bargaining power of buyers is high due to the
presence of several key players operating in the market. Buyers have various
product options at competitive prices.
Bargaining power of suppliers: The bargaining power of suppliers is moderate
due to the availability of substitute components. However, suppliers have
differentiation in terms of technology and quality.
Threat of new substitutes: The threat of substitutes is low as breathalyzers
are highly effective and efficient for alcohol detection.
Competitive rivalry: High owing to the presence of numerous global and regional
players offering a wide range of breathalyzer devices.
Key Takeaways
The Global
Breathalyzers Market is expected to witness high growth, exhibiting
CAGR of 18.% over the forecast period, due to increasing drunk driving cases
and stringent laws by governments.
The North America region is expected to dominate the Breathalyzers Market owing
to stringent drunk driving laws in countries like the US and Canada. Europe is
also expected to hold a significant share in the market due to favorable
regulations regarding alcohol detection.
Key players operating in the Breathalyzers Market are Cannabix Technologies
Inc., Alcohol Countermeasure Systems Corp., Dragerwerk AG & Co. KGa,
Intoximeters Inc., Lifeloc Technologies Inc., MPD Inc., Quest Products Inc.,
Advanced Safety Devices LLC, Aerocrine AB, Akers Biosciences Inc., Alcolizer
Pty Ltd., Alcopro Inc., Guth Laboratories Inc., Meretek Diagnostics Group of
Otsuka America Pharmaceutical Inc., PAS Systems International Alcohol Sensor
Systems, Toshiba Medical Systems Corp., TruTouch Technologies Inc., ENVITE-
WISMER GmbH, AK GlobalTech Corporation, Intoximeter Inc., and BACtrack Inc.
Read More: https://www.trendingwebwire.com/breathanlyzers-market-analysis/