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Drug Screening Global Market Analysis, Trends, Growth, Research And Forecast 2033
Drug Screening Global Market
As per the report, the drug screening market size has grown rapidly in recent years. It will grow from $7.65 billion in 2023 to $8.79 billion in 2024 at a compound annual growth rate (CAGR) of 14.9%. The drug screening market size is expected to see rapid growth in the next few years. It will grow to $15.04 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%.
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Increasing Drug And Alcohol Usage
Growing drug and alcohol consumption is expected to propel the growth of the drug screening market going forward. Drug addiction is a disease that affects a person's brain and behavior, resulting in the inability to control the use of a legal or illegal drug or medication. Substances such as alcohol, marijuana, and nicotine also are considered drugs. As drug and alcohol addiction increases, the chances of disease are higher which triggers the need for drug screening. For instance, in 2022, drug and alcohol consumption continued to be a significant concern worldwide. According to the National Survey on Drug Use and Health (NSDUH), 13.5% of Americans aged 12 and over used drugs in the last month, marking a 3.8% increase year-over-year. Moreover, the report also states that 59.277 million or 21.4% of people aged 12 and over have used illegal drugs or misused prescription drugs within the last year. The pandemic effects also ramp up drug risks, as cannabi*s intake by youth had increased by as much as four times in parts of the world. Therefore, growing drug and alcohol consumption is driving the growth of the drug screening market during forecast period.
Introduction Of Innovative Products
The launch of innovative products is a key trend gaining popularity in the drug screening market. Major companies operating in the drug screening market are focusing on developing and launching innovative products to meet fast-growing industry demand and strengthen their market position. Additionally, due to COVID, there was a sudden change in the drug screening approach, which changed the screening methodologies and pushed innovation and new product development by companies. Companies are striving to develop new products such as a new drug test that is more effective and can be widely used by laboratories. For instance, in September 2022, Sysmex Corporation, a Japan-based healthcare company, launched the UF-1500 Fully Automated Urine Particle Testing Analyzer, a new product for use in urine sediment testing and screening. The UF-1500 inherits the high levels of functionality and usability of the UF-5000 Fully Automated Urine Particle Analyzer, Sysmex's flagship model in urine sediment testing, while achieving a downsizing of the former model.
The drug screening market covered in this report is segmented -
1) By Products: Rapid Testing Devices, Consumables, Other Products
2) By Sample Type: Oral Fluid Sample, Hair Sample, Urine Sample, Breath Sample, Other Sample Types
3) By End User: Drug Testing Laboratories, Workplaces, Criminal Justice and Law Enforcement Agencies, Hospitals, Drug Treatment Centers, Individual Users, Pain Management Centers, Schools and Colleges
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Major companies operating in the drug screening market include Laboratory Corporation, Quest Diagnostics Incorporated, Alere Inc., OraSure Technologies Inc., Alfa Scientific Designs Inc., Abbott Laboratories, Thermo Fisher Scientific Inc., Drägerwerk AG & Co. KGaA, LifeLoc Technologies Inc., MPD Inc., Omega Laboratories Inc., Premier Biotech Inc., Psychemedics Corporation, F. Hoffmann-La Roche Ltd., Shimadzu Corporation, Siemens Healthineers AG, Medtox Scientific Inc., American Screening Corporation, Clinical Reference Laboratory Inc., Express Diagnostics International Inc., Global Drug Testing Services, Kroll Laboratory Specialists Inc., LabOne Inc., Medscreen Laboratories, National Screening Centers Inc., American Bio Medica Corporation, Mayo Clinic Laboratories, ACM Global Laboratories, Intertek Group plc, Eurofins Scientific SE
Contents of the report:
1. Executive Summary
2. Drug Screening Market Report Structure
3. Drug Screening Market Trends And Strategies
4. Drug Screening Market - Macro Economic Scenario
5. Drug Screening Market Size And Growth
…..
27. Drug Screening Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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