Global Drug Screening Market 2020 Size, Share, Growth Opportunities, Industry Analysis, Covid 19 Report Analysis and Forecast To 2023

According to a new report published by Allied Market Research, titled, “Drug Screening Market by Products & Services, Sample Type, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023,” the global drug screening market was valued at $5,214 million in 2016, and is projected to reach $9,447 million by 2023, growing at a CAGR of 8.7% from 2017 to 2023. North America held the largest market share with more than fifty percent share in 2016.

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Drug Screening Market research report delivers a comprehensive study on production capacity, consumption, import and export for all major regions across the world. Report provides is a professional inclusive study on the current state for the market. Analysis and discussion of important industry like market trends, size, share, growth estimates are mentioned in the report.

Major factors driving the drug screening market are increase in drug consumption among youth, upsurge in consumption of alcohol and misuse of prescribed or illicit drugs by individuals. In addition, rise in awareness among the population in developing countries regarding adverse effects of drugs will help to boost the market growth. Further, governments of many developed and developing nations are raising funds to deal with increasing drug abuse and illegal drug trafficking, which will help to fuel the market growth.

Laboratory services are currently dominating the products and services segment and is expected dominate the market during the forecast period. It occupies more than three-fifths of the total market share because of need to hire trained professionals capable of performing drug tests.

Major Key Players: -

The major companies in drug screening market include Alere, Inc., Drgerwerk AG & Co. KGAA, Abbott Laboratories, Hoffmann-La Roche AG, Biorad Laboratories, Inc., Siemens AG, Thermo Fisher Scientific, Inc., Danaher Corporation, Quest Diagnostics Incorporated and Express Diagnostics International Inc.
Various strategies adopted by these companies to gain stronghold of the market include partnerships, collaborations, approvals, mergers & acquisitions, joint ventures, expansions, and others

The leading companies in Global Drug Screening Market are analyzed in the report along with their business overview, operations, financial analysis, SWOT profile and Drug Screening products and services.
The report lays emphasis on the key trends and opportunities that may emerge soon and positively impact the overall industry growth. Additionally, challenges and restraining factors that are likely to curb the growth in the years to come are put forth by the analysts to prepare the manufacturers for future challenges in advance.

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Key Findings of the Drug Screening Market:

Under products & services equipment segment the rapid testing devices segment is projected to grow at the highest CAGR of 9.6% from 2017-2023 over the forecast period.
Hair sample segment is poised to witness the fastest growth during the forecast period.
Workplace and schools generated the highest revenue in 2016, and is expected to continue its dominance over the forecast period.
North America dominated the global drug screening market over the analysis period, and is projected to grow at a CAGR of 8.1% from 2017-2023.
Asia-Pacific drug screening market is an upcoming market and expected to generate new opportunities for market players.
In 2016, North America held five-ninths of the market share in global drug screening market, and is expected to continue this trend due its large amount of drug abuse and adoption of drug screening devices in the region. U.S. federal government is raising funds against illegal drug trafficking and driving the market in North America region. Asia-Pacific region is growing at a fastest CAGR in the forecast period due to increase in awareness regarding effects of drug abuse among developing countries. In addition, increase in investments in R&D by public and private sectors is also expected to boost the market growth.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

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