LegalLaw247.com, November 10, 2021 ) 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™, the 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% during the forecast period.
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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 are the major factors driving the growth of this market.
Services segment expected to grow at the highest CAGR during the forecast period.
Based on service and product, the drug screening market is segmented into services and products. Services segment accounted for the largest share of the market in 2019. This segment is also expected to register the highest CAGR during the forecast period, mainly due to the growing drug and alcohol consumption worldwide, funding initiatives for drug testing laboratories, new service launches, and regulatory approvals, and geographic expansion of drug and alcohol testing laboratories.
Analytical instruments are expected to dominate the drug screening products market in 2019.
Based on the product, the drug screening market is segmented into analytical instruments, rapid testing devices, and consumables. In 2019, the analytical segment is expected to dominate the market. Growing alcohol consumption and drunken driving cases, stringent government laws mandating drug and alcohol testing, and technological advancements in this market are some of the key factors driving the growth of the analytical instruments market.
Based on the sample type, the oral fluid segment is projected to grow at the highest CAGR during the forecast period.
By sample type, drug screening market is segmented into urine, breath, oral fluid, hair, and other samples. Among these, the oral fluid segment is expected to register the highest CAGR during the forecast period. The high growth of this segment is attributed to the increasing preference for oral fluid samples because of the convenient collection method, no specific requirement for sample collection, and low risk of sample adulteration.
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North America to dominate the drug screening market in 2019
In 2019, North America is expected to dominate the market, followed by Europe. The large share of this geographical segment is attributed to factors such as growing consumption of illicit drugs, the availability of government funding to curb drug addiction, the presence of laws supporting drug screening, and the growing burden of road accidents due to alcohol consumption in the region.
The market is highly competitive with the presence of several small and big players. Some of the players offering products for drug screening market 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), Siemens Healthineers (Germany), American Bio Medica Corporation (US), Sciteck, Inc. (US), ACM Global Laboratories (US), CareHealth America (US), and Clinical Reference Laboratory (US).
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Mr. Aashish Mehra
Global Drug Screening Market worth $ 10.0 billion by 2025 : Accuracy and specificity concerns related to breathalyzers
November 10, 2021 Posted By: admin
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