Market Overview:
The narcotics scanner market consists of devices used to detect drugs and other narcotics substances. Narcotics scanners detect the presence and identity of controlled or illegal substances like cocaine, heroin, amphetamines and others concealed within cargo, containers, vehicles or on a person. They work by analyzing characteristic Raman, infrared or nuclear quadrupole resonance signatures of substances. Narcotics scanners offer non-intrusive and non-destructive inspection capabilities with high resolution imaging for screening at airports, borders, ferry terminals and other public places. They help enhance security screening and detection of drug trafficking with potential to curb drug abuse and related crimes.
Market key trends:
One of the key trends in the narcotics scanner market is the ongoing technological developments to improve detection accuracy. Manufacturers are focusing on advanced spectroscopic techniques, artificial intelligence and machine learning capabilities to analyze imaging patterns for quick, reliable detection of new and emerging psychoactive substances. Miniaturization of narcotics scanners also allows for portable and handheld devices for field operations. Growing trafficking of synthetic drugs and new psychoactive substances has further driven the need for frequent upgrades in narcotic signatures database. Strict enforcement of regulations curbing drug smuggling across major economies also propels the demand for advanced narcotics screening solutions.
The global Narcotics Scanner Market Demand is estimated to be valued at US$ 2374.72 Mn in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Porter’s Analysis
Threat of new entrants: The market requires high R&D investments and strict government regulations for approval due to safety and security sensitive nature of devices. These barriers make threat of new entrants moderate.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes like metal detectors. However, narcotics scanners are irreplaceable for certain applications.
Bargaining power of suppliers: Major suppliers include technology companies that develop core technologies. Switching costs are high making supplier power high.
Threat of new substitutes: Though metal detectors and other security screening devices are substitutes, ability of narcotics scanners to detect hidden drugs non-intrusively makes threat of substitution low.
Competitive rivalry: The presence of a few large players results in high competitive rivalry.
Key Takeaways
The global narcotics scanner market is expected to witness high growth, exhibiting CAGR of 6.3% over the forecast period, due to increasing cross-border smuggling. North America is expected to dominate the market over the forecast period due to heavy investments in security at airports and seaports in the region.
The global narcotics scanner market size for 2023 is estimated to be US$ 2374.72 Mn. Airports are expected to be the largest application segment due to high deployment of such scanners for passenger screening.
Key players operating in the narcotics scanner market are ThermoFisher Scientific Inc., OSI Systems Inc., Chemring Group PLC, Bruker Corporation, Viken Detection, FLIR Systems Inc., Astrophysics Inc., Aventura Technologies Inc., Teknicom Solutions Ltd., L3 Security and Detection Systems Inc., Nuctech Company Limited, and Smiths Detection Inc. Innovation and portfolio expansion are the key strategies adopted by major players.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
