LegalLaw247.com, May 01, 2021 ) Major Growth Drivers:
Growth in this market is attributed to the rising drug & alcohol consumption, the enforcement of stringent laws mandating drug and alcohol testing, government funding in major markets, and regulatory approvals and product and service launches.
On the other hand, bans on alcohol consumption in Islamic countries and the prohibition of drug testing at workplaces in certain regions are some major factors that may hinder the market growth.
According to the new market research report ” Drug Screening Market by Product (Consumables, Urine testing devices, Analytical, Breathalyzer, Chromatography) & Services, Sample Type (Urine, Breath), End User (Workplace, Laboratories, Criminal Justice, Hospitals) – Global Forecast to 2025″, published by MarketsandMarkets™ , global drug screening market is projected to reach USD 10.0 billion by 2025, from USD 4.5 billion in 2020, at a CAGR of 17.3%.
The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. This study involved four major activities in estimating the current size of the drug screening market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market.
Expected Revenue Growth:
[192 Pages Report] The global drug screening market is projected to reach USD 10.0 billion by 2025, from USD 4.5 billion in 2020, at a CAGR of 17.3%.
COVID-19 impact on the drug screening market
COVID-19 has resulted in significant disruptions to businesses and economic activities globally and is expected to have a short-term negative impact on the drug screening market due to limited or non-availability of medical facilities/treatment centers, harm reduction service providers, and the fear of infection transmission. To reduce the strain on the healthcare system and decrease disease transmission, various governments worldwide provided guidelines to postpone or delay non-essential medical and surgical procedures.
Browse in-depth TOC on “Drug Screening Market”
192 – Tables
35 – Figures
192 – Pages
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The rapid testing devices segment will witness the highest growth during the forecast period.
Based on product, the drug screening market is segmented into analytical instruments, rapid testing devices, and consumables. Rapid testing devices market is further subsegmented into urine testing devices and oral fluid testing devices. The urine testing devices segment is expected to account for the largest market share in 2019. However, the oral fluid testing devices segment is projected to register highest CAGR during the forecast period. The high growth in this segment is attributed to the benefits it offers such as shorter detection window, non-invasive nature, and low risk of sample tampering.
The urine sample segment dominated the drug screening market in 2019.
The global drug screening market by sample type is segmented into urine, breath, oral fluid, hair, and other samples. The urine sample segment is estimated to account for the largest share in 2019; however, the oral fluid samples segment is expected to register the highest growth rate during the forecast period.
North America was the largest regional market for drug screening market in 2019.
The drug screening market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World. In 2019, North America was the largest regional segment of the overall market, followed by Europe. The dominance of the North American market is attributed to factors such as rising consumption of illicit drugs, availability of government funding to curb drug abuse, and the presence of laws supporting drug screening, and growing burden of accidents due to unsafe levels of alcohol consumption.
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Key Market Players
The prominent players operating in this market include LabCorp (US), Quest Diagnostics (US), Alere (US), OraSure (US), Alfa Scientific Designs (US), Thermo Fisher Scientific (US), Drägerwerk (Germany), LifeLoc (US), MPD Inc. (US), Omega Laboratories (US), Premier Biotech (US), Psychemedics (US), Roche (Switzerland), Shimadzu (Japan), and Siemens Healthineers (Germany).
Mr. Aashish Mehra
May 1, 2021 Posted By: admin
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