Trinity Biotech plc - American Depositary Shares (TRIB)
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Trinity Bio is a biotechnology company focused on developing innovative therapies and diagnostics for various medical conditions
The company leverages advanced technologies to create solutions aimed at enhancing patient care and improving health outcomes. By prioritizing research and development, Trinity Bio strives to bring cutting-edge products to market that address unmet medical needs, while also engaging in partnerships and collaborations within the healthcare sector to expand its reach and efficacy in the industry.
PALM BEACH, Fla., Jan. 30, 2025 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - Due to the expanding consumption of illicit drugs & alcohol across the globe the Drug Screening market is poised to grow substantially in the coming years. Drug abuse and alcohol consumption are growing worldwide. According to the World Drug Report 2023, in 2021, 1 in every 17 people aged 15–64 in the world had used a drug in the past 12 months. The number of users grew from 240 million in 2011 to 296 million in 2021 or 5.8% of the global population aged 15-64. This is a 23% increase, partly due to population growth. Other drugs like Cannabis the second most used drug, with an estimated 219 million users i.e. 4.3% of the global adult population in 2021. In 2021, according to the US Department of Transportation, National Highway Traffic Safety Administration (NHTSA), 13,384 people died in alcohol-impaired driving crashes, i.e. a 14% rise from last year. A report from MarketsAndMarkets projected that: “The global drug screening market, valued at US$7.7 billion in 2023, is forecasted to grow at a robust CAGR of 16.6%, reaching US$9.1 billion in 2024 and an impressive US$19.5 billion by 2029.North America dominates the drug screening market. This market is projected to reach USD 9.3 billion by 2029, at a CAGR of 16.4% during the forecast period. The expanding consumption of illicit drugs & alcohol will advance raise the development of drug screening products & services on the road, thereby driving the overall market growth.” Active companies in news today include: Intelligent Bio Solutions Inc. (NASDAQINBS), Cardio Diagnostics Holdings, Inc. NASDAQ: CDIONASDAQCDIO)(NASDAQ: BIAFNASDAQBIAF, Trinity Biotech plc (NASDAQ: TRIBNASDAQ), SOBR Safe, Inc. (NASDAQ: SOBRSOBR).
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Trinity stock is trading higher on Tuesday after the company announced results from its pre-pivotal clinical trial for its continuous glucose monitoring system.
Trinity Biotech stock surges on high volume after announcing increased orders for TrinScreen HIV, boosting 2024 revenue projections to $10 million. Second-quarter earnings show a 14% YoY revenue increase driven by strong HIV test sales.
