AUG 13,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Global Drug Screening Market.
The Global Drug Screening Market is estimated to grow from USD 4.4 billion in 2020 to USD 11.1 billion by 2026 at a healthy CAGR of 17% during the forecast period.
Drug screening is defined as the process of collecting and analysing 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 of time.
Market Dynamics
Increasing drug and alcohol testing measures in various countries to curb the menace of drug and alcohol abuse is likely to drive the market growth significantly.
• The global market growth is primarily driven by an increase in 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.
Segment Analysis
End User Trends
The workplace segment accounted for the largest market share in 2020.
Based on end user, the market has been divided into workplace, criminal justice systems and law enforcement agencies, drug treatment centers, pain management centers, drug testing laboratories and others. The segment growth can be attributed to rising safety concern for the staff.
Regional Trends
The market in North America accounted for the largest share in 2020 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 2020.
Key Players:
• 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).
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Global Drug Screening Market analysis report discusses the following heads in great detail:
• Market structure: Overview, industry life cycle analysis, supply chain analysis
• COVID-19 Impact Assessment
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors