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Drug Screening Market to Reach $8.63 Billion by 2022 | Growing at a CAGR of 10.2%


Drug Screening Marke

iCrowdNewswire   Jul 27, 2020  2:00 PM ET

Factors such as growing drug & alcohol consumption, enforcement of stringent laws mandating drug and alcohol testing, and regulatory approvals and new product & service launches are driving the growth of the market.

The drug screening market was valued at USD 4.86 Billion in 2016 and is expected to reach USD 8.63 Billion by 2022, growing at a CAGR of 10.2% during the forecast period. The base year considered for the study is 2016 and the forecast period is from 2017 to 2022. The market is dominated by North America, followed by Europe, Asia Pacific, and the Rest of the World (RoW).

The global 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 2017, however, the oral fluid samples segment is expected to register the highest growth rate during the forecast period.

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What Drives the Market?

The growth of the global market for Drug Screening Market is primarily influenced by the following factors:

1 Growing Drug & Alcohol Consumption
2 Enforcement of Stringent Laws Mandating Drug and Alcohol Testing
3 Presence of Government Funding in Major Markets
4 Regulatory Approvals & Product Launches and Services

The study involved four major activities to estimate the current market size for particle therapy. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research.

The objectives of this study are as follows:

1. To define, describe, segment, and forecast the global market by product and service, sample type, end user, and region To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, challenges, and market-specific trends)

2. To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market

3. To analyze the opportunities in the market for stakeholders and provide details of competitive landscape for market leaders

4. To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW). To profile key players and comprehensively analyze their market shares and core competencies

5. To track and analyze competitive developments such as agreements, partnerships, and collaborations; acquisitions; product launches and approvals; expansions; and R&D activities in the global market.

The market is dominated by North America, followed by Europe, Asia Pacific, and the Rest of the World (RoW). 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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The drug screening market is highly competitive with the presence of several big and small players. Prominent players offering products for drug screening include Alere (US), Thermo Fisher (US), Drägerwerk (Germany), OraSure (US), Alfa Scientific Designs (US), Lifeloc (US), MPD, Inc. (US), Premier Biotech (US), Shimadzu (Japan), Siemens Healthineers (US). On the other hand, LabCorp (US),etc



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Keywords:    Drug Screening Market, Drug Testing Market , Drug and Alcohol Testing Market

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