Stratview Research has recently published a report on the Drug Screening Market. This strategically evaluated report provides a detailed overview that presents today's market scenario and future possibilities, as well as market intelligence and information, for a 5-year period from 2022 to 2028.
Drug Screening Market Insights:
The drug screening market was estimated at USD 5.24 billion in 2021 and is likely to grow at a CAGR of 16.74% during 2022-2028 to reach USD 15.52 billion in 2028.
What is drug screening?
Drug screening is defined as the process of collecting and analyzing blood, hair, urine, or saliva to detect the presence of contaminants and chemicals left in the body as a result of drug consumption. In this process, potential drugs are identified and optimized before selecting a candidate drug for a clinical trial. Drug screening is done in order to determine if a person is or has consumed drugs at a certain point in time.
COVID-19 IMPACT
The covid-19 outbreak affected the growth of the drug screening market for a short period of time due to disruption in business and economic activities across geographies. Postponement of non-essential medical services amid the covid-19 outbreak also affected the growth of the drug screening market. However, with the reopening of the economy, the market is likely to experience growth during the review period.
Market Dynamics
Increasing drug and alcohol testing measures in various countries to curb the menace of drug and alcohol abuse is likely to drive market growth significantly.
- The market growth is primarily driven by an increase in the consumption of drugs and alcohol across the geographies, particularly among the youth and elder population.
- The players operating in the market are emphasizing product innovation to strengthen their market presence and attain a competitive edge over other market players.
As per the report, the market is segmented by:
The workplace segment accounted for the largest market share in 2021.
Based on end users, the market has been divided into workplaces, criminal justice systems, law enforcement agencies, drug treatment centers, pain management centers, drug testing laboratories, and others. The segment growth can be attributed to a rising safety concern for the staff.
The market in North America accounted for the largest share in 2021 due to the high consumption of drugs and alcohol. Additionally, supporting government measures to curb the use of drugs is likely to add significantly to the market growth. The market in Europe accounted for the second-largest market share in 2021.
A sneak peek into the Report:
This report serves as a comprehensive source of market analysis. The report's layout has been kept simple in order to have the most business value possible. It offers valuable insights into business dynamics and allows current and potential market participants to make strategic decisions. The following is the report's key features:
Market structure: Overview, industry life cycle analysis, supply chain analysis
Market forecast analysis.
Competitive landscape and dynamics: Market share, product launches, etc.
Attractive market segments and associated growth opportunities
Emerging Trends Key success factors
Key Players
The market for Drug Screening is highly consolidated with the strong presence of key players such as-
- Alere Inc. (The U.S),
- Laboratory Corporation of America Holdings (The U.S),
- OraSure Technologies (The U.S),
- Quest Diagnostics (The U.S),
- Thermo Fisher Scientific (The U.S),
- Alfa Scientific Designs, Inc. (The U.S),
- MPD Inc. (The U.S),
- Lifeloc Technologies, Inc. (The U.S),
- Omega Laboratories Inc. (The U.S),
- Sciteck Diagnostics Inc (The U.S),
- ACM GLOBAL LABORATORIES (The U.S), and
- Carehealth America Corporation (The U.S).
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Research Methodology
Stratview Research's reports are the result of a thorough analysis that combines thorough secondary, and primary interviews with industry leaders, and confirmation using unique internal database and statistical methods. More than 1,000 verified secondary sources, such as annual reports from companies, press releases, fact books, journals, white papers, and blogs are reviewed and analysed.
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