Drug Screening Market worth $19.5 billion by 2029

Labcorp (US): Labcorp is a leading player in the US drug screening services market that provides clinical laboratory services and drug development solutions. The company operates through two reportable segments-Diagnostics Laboratories (Dx), which includes routine testing and specialty/esoteric testing, and Biopharma Laboratory Services (BLS), consisting of Early Development Research Laboratories and Central Laboratory Services.
The global drug screening market [https://www.marketsandmarkets.com/Market-Reports/drug-alcohol-screening-market-162987773.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=paidpr], valued at US$7.7 billion in 2023, is forecasted to grow at a robust CAGR of 16.6%, reaching US$9.1 billion in 2024 and an impressive US$19.5 billion by 2029. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. Some of the key factors such as the enforcement of stringent laws mandating drug & alcohol testing, the rising drug & alcohol consumption are driving the market. However, bans on alcohol consumption in Islamic countries may restrain the growth of this market to a certain extent.

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Browse in-depth TOC on "Drug Screening Market"

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Services segment is expected to grow at the highest CAGR during the forecast period in 2024.

On the basis of product & service segment, the drug screening market is bifurcated into services and products. In 2023, the services segment accounted for the largest share of the drug screening market. Factors such as rising global drug and alcohol consumption, funding schemes for drug testing laboratories, and rising regulatory approvals for drug products & services, and geographic extensions of drug & alcohol testing laboratories.

Analytical instruments are projected to dominate the drug screening products market in 2023, by product.

On the basis of drug screening product, the drug screening market is bifurcated into analytical instruments, rapid testing devices, and consumables. The analytical instruments are expected to dominate the market in 2023. However, the rapid testing devices segment is expected to register the highest CAGR during the forecast period, owing to its recurring requirement. Analytical instruments for drug screening are further categorized into immunoassay analyzers, chromatography instruments, and breathalyzers. The breathalyzers segment accounted for largest share of the drug screening products market, by analytical instruments.

Urine sample segment is accounted for the largest share of the drug screening market in 2023, by sample type.

On the basis of sample type, drug screening market is bifurcated into urine, breath, oral fluid, hair, and other samples. In 2024, the urine sample segment is expected to account for the largest share of drug screening market. Urine tests are widely adopted in drug screening tests due to their accuracy in detecting multiple drug classes. Urine tests are also cost-effective and showcase instant results.

By region, North America to dominate the market for drug screening in 2024

In 2024, North America is projected to dominate the market followed by Europe. Factors such as the increasing consumption of illicit drugs, the increasing burden of accidents due to alcohol impairment, the availability of government funding to curb drug abuse, laws supporting drug screening, and the existence of key players in the region are factors driving the growth of the drug screening market in this region.

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The primary interviews conducted for this report can be categorized as follows:

* By Company Type - Tier 1: 57%, Tier 2: 30%, and Tier 3: 13%
* By Designation - C-level: 30%, D-level: 45%, and Others: 25%
* By Region - North America: 40%, Europe: 19%, Asia Pacific: 29%, Latin America: 7% and Middle East and Africa: 5%

Key Market Players of Drug Screening Industry:

Prominent players offering drug screening products and services include Labcorp (US), Quest Diagnostics (US), Abbott (US), Thermo Fisher Scientific Inc. (US), Alfa Scientific Designs, Inc. (US), OraSure Technologies Inc. (US), Siemens Healthineers AG (Germany), F. Hoffmann-La Roche Ltd (Switzerland), MPD Inc. (US), Shimadzu Corporation (Japan), Lifeloc Technologies, Inc. (US), Dragerwerk AG & Co. KGaA (Germany), Premier Biotech, Inc. (US), Omega Laboratories, Inc. (US), Psychemedics Corporation (US), Clinical Reference Laboratory, Inc. (US), American Bio Medica Corporation (US), ACM Global Laboratories (US), CareHealth America Corp (US), Sciteck, Inc. (US), Intoximeters, Inc. (US), AccuSourceHR, Inc. (US), Cordant Health Solutions (US), Intoxalock (US), Millennium Health (US).

Labcorp (US): Labcorp is a leading player in the US drug screening services market that provides clinical laboratory services and drug development solutions. The company operates through two reportable segments-Diagnostics Laboratories (Dx), which includes routine testing and specialty/esoteric testing, and Biopharma Laboratory Services (BLS), consisting of Early Development Research Laboratories and Central Laboratory Services. The company's Diagnostics Laboratories (Dx) segment offers drug and alcohol testing services. The company has more than 67,000 employees serve clients in over 100 countries, worked on over 84% of the new drugs approved by the FDA in 2023 and executed more than 600 million tests for patients around the world. The company has more than 80,000 employees, serves clients in more than 100 countries. Recently, in 2024 Labcorp announces acquisition of select assets of BioReference Health's diagnostic business expanding access to the company high-quality clinical laboratory services.

Abbott (US): Abbott is one of the global providers of rapid, point of care tests and leader in drug screening market. Abbott operates via five business segments: Established Pharmaceuticals Products, Nutritional Products, Diagnostic Products, & Medical Devices. The Diagnostic products include sales of diagnostic systems tests for blood banks, hospitals, commercial laboratories, and alternate-care testing sites. The company provides drug screening products and services through the diagnostic products segment. The company's Diagnostics Product is further segmented into Core Laboratory, Rapid Diagnostics, Molecular, and Point of care. The company has a strong presence in North America, Europe, Asia Pacific, Latin America, & Middle East & Africa. The company provide substance abuse testing products and services for a array of settings such as rehabilitation centers,hospitals, criminal justice agencies, physician offices, workplace, and occupational health clinics, and homes.

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