The global Narcotics Scanner Market 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.
Market Overview:
Narcotics scanners use technologies such as X-ray, ion mobility spectrometry, and infrared absorption spectrometry to detect narcotics and chemicals like cocaine, heroin, and methamphetamine hidden inside parcels, containers, and on people passing through security checkpoints. The detection helps curb drug trafficking and consumption.
Market key trends:
One of the major trends in the narcotics scanner market is the growing usage of computed tomography (CT) technology. CT provides enhanced scanning by creating 3D images of scanned objects from different angles. This helps in accurate detection of drugs concealed inside complex structures as compared to basic 2D X-ray imaging. Moreover, manufacturers are focusing on developing portable narcotics scanners to facilitate on-field scanning at airports, railway stations, and border security checkpoints. Development of AI-powered narcotics detectors is another trend as it allows machines to identify unknown substances and their concealment techniques which helps improve detection rates.
SWOT Analysis
Strength: Narcotics scanners help detect drugs accurately and efficiently by identifying materials. They provide an effective solution to curb drug trafficking and related criminal activities.
Weakness: Narcotics scanners require high capital investments and have high operating and maintenance costs. The detection capabilities also depend on the type of drugs and materials used for concealment.
Opportunity: Increasing drug abuse and rising cross-border trafficking of illegal drugs create demand for more advanced detection technologies. Governments across regions are investing heavily in combating drug crimes.
Threats: Alternative screening methods and partner technologies pose competition. Public concerns over privacy and potential misuse of data collected during scans also act as a challenge.
Key Takeaways
The Global Narcotics Scanner Market Size is expected to witness high growth, exhibiting CAGR of 6.3% over the forecast period, due to increasing government initiatives against drug trafficking.
Regional analysis
North America dominates the narcotics scanner market currently due to strict regulations and massive investments to curb drug abuse. Asia Pacific is anticipated to grow at the fastest rate during the forecast period with rising drug seizures in countries such as India and China.
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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it