The global breathalyzer market is expected to grow at a CAGR of 7.5% over the forecast period. The major factors bolstering the growth of breathalyzer market include increasing alcohol abuse and stringent government regulations for mandatory alcohol testing during driving or in workplaces.
It has also been found that the technological advancements of breath analyzers, rise in availability of forbidden drugs, increase in emphasis on workplace screening also propels the market growth of the breathalyzers, globally. Therefore the demand for breathalyzers has been on a perpetual rise on account of increasing instances of alcohol abuses. The government of various countries have also regulated stringent laws to prevent the number of road mishaps and ensure the seamlessness of traffic, which is expected to fuel the growth of the global breathalyzer market.
Key Market Trends
Fuel cell technology Holds the Major Market Share During the Forecast Period
Fuel cell technology is anticipated to hold the major market share during the forecast period owing to its wide range of advantages, compact size of the device, less requirement of the power. Fuel cell technology devices are also available in handheld devices.
Therefore the manufacturers are concentrating their efforts towards enhancing the features of their devices by incorporating innovative technology, such as fuel cell. This technology holds over half of the total revenue acquired by the global breathalyzer market. Hence the growing demand for the convenient and easy to use equipment is propelling the growth of the fuel cell technology segment.
Asia-Pacific is Expected to be the Fastest Growing Region in the Breathalyzers Market
The Asia-Pacific is anticipated as the fastest growing segment during the forecast period, owing to the economic instability, unorganized government regulations, increase in availability of illicit drugs and alcohol, rise in drug trafficking, lack of awareness, fewer literacy rates compared to developed countries, presence of more untapped regions, increase in adoption of western lifestyle, etc.
However, the U.S. is anticipated to account for the highest market share in this region over the forecast period. Moreover, rising number of drunk and drive cases in this region is projected to boost the demand for breathalyzer devices.
Most of the companies present in the market are efficient at the technological front, but require significant support for enhancing their services and expanding their businesses. Therefore mergers and acquisitions offer significant opportunities to gain the attention of a large number of providers across developed regions.
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