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Drug Screening Industry analysis, size, share, growth, scope, Global Opportunity Analysis and Industry Forecast, 2017-2023

11-30-2020 06:59 PM CET | Health & Medicine

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
Drug Screening Market

Drug Screening Market

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 test analyses biological samples, such as blood, hair, & urine; to diagnose the presence of drug abuse or its metabolites in patient’s body. Drug screening tests are used to determine if person is or was under the influences of drug at a certain point of time. Drug screening devices have improved owing to introduction of new technology; offering the users precise and accurate results. Rise in alcohol consumption among youth as well as elderly population, overuse of prescribed drugs, increase in use of narcotics and illicit drugs is a major driver for the market.

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.

The impact of the driving factors is expected to overcome the effect of restraints. Increase in consumption of alcohol and illicit drugs, establishment of stringent laws in various countries, and increase in governmental funding to control drug trafficking provide opportunity for the drug screening devices. Immunoassay analyzers occupied the largest share in the drug screening equipment market in 2016.

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Key Benefits

The study provides an in-depth analysis of the global market with current trends and future estimations from 2016 to 2023 to elucidate the imminent investment pockets.

Comprehensive analysis of factors that drive and restrict the market growth is provided.

Identification of factors instrumental in changing the market scenario, rise in opportunities, and identification of key companies that can influence this market on a global & regional scale are provided.

Key players are profiled and their strategies are analyzed thoroughly to understand the competitive outlook of the market.

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.

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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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About Us

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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