Press release
Global Drug Screening Market to Generate $9.4 Billion by 2023: Allied Market Research
Drug Screening Market
According to the report published by Allied Market Research, the global drug screening market generated $5.2 billion in 2016, and is projected to reach $9.4 billion by 2023, witnessing a CAGR of 8.7% from 2017 to 2023. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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Sriram Radhakrishnan, a Team Lead, Healthcare at Allied Market Research, stated, "The increasing awareness regarding the ill effects of drug abuse along with the increased stringency of regulations to prohibit drug abuse is expected fuel the innovations and market growth."
COVID-19 scenario:
• During the outbreak of the COVID-19 pandemic, incidences of substance abuse have increased as people started to experience more stress, anxiety, and fear. Thereby, the demand for drug screening tests has increased, which in turn, positively impacted the global drug screening market.
• On the other hand, disruptions in the supply chain and lack of healthcare professionals have negatively impacted the global drug screening market.
The report offers detailed segmentation of the global drug screening market based on products & services, sample type, end user, and region.
Based on products & services, the laboratory services segment held the highest market share in 2020, accounting for more than three-fifths of the total market share, and is expected to continue its leadership status during the forecast period.
Based on sample type, the urine sample segment registered CAGR of 8.6% during the forecast period. Moreover, the hair sample segment is estimated to register the highest CAGR of 12.6% from 2021 to 2030.
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Based on end user, work place and school held the highest market share, contributing to two-thirds of the total market share, and is estimated to continue its dominant share by 2030. The same segment is projected to manifest the fastest CAGR during the forecast period.
Key players operating in this market include Alere, Inc., Drägerwerk 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.
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About Allied Market Research:
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.
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