Drug Screening Service Market Hits New High | Major Giants- LabCorp, Drägerwerk, SureHire

The latest study released on the Global Drug Screening Service Market by HTF MI evaluates market size, trend, and forecast to 2031. The Drug Screening Service market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends, growth drivers, opportunities and upcoming challenges and about the competitors.

Key Players in This Report Include: LabCorp (United States), Quest Diagnostics (United States), Abbott Laboratories (United States), Drägerwerk AG & Co (Germany), Psychemedics Corporation (United States), Omega Laboratories, Inc. (United States), Thermo Fisher Scientific (United States), Siemens Healthineers (Germany), Precision Diagnostics (United States), SureHire (Canada), Cordant Health Solutions (United States), Tenet Diagnostics Center (India), OraSure Technologies (United States), Redwood Toxicology Laboratory (United States), Onsite Diagnostics Pty. Ltd. (Australia)

According to HTF Market Intelligence, the global Drug Screening Service market is valued at USD ~9.3 billion in 2024 and is estimated to reach a revenue of USD ~24.2 billion by 2031, with a CAGR of ~12.6% from 2024 to 2031.

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Definition:
Drug screening services are procedures used to detect the presence of drugs or their metabolites in biological samples like urine, blood, or hair. These services are employed across multiple sectors including employment, legal, healthcare, and sports to ensure safety, compliance, and well-being. Technological advancements have made testing more accurate, rapid, and convenient, leading to increased adoption. As substance abuse remains a global issue, demand for comprehensive and reliable drug screening is on the rise.

Market Trends:
Use of automated screening tools, integration of cloud-based reporting, and growth in pre-employment and post-accident testing services.

Market Drivers:
Increasing substance abuse, stricter workplace regulations, and government policies on public safety are fueling the drug screening market.

Market Opportunities:
Rise in at-home testing kits, demand from emerging economies, and growing investment in mobile testing labs present new growth avenues.

Market Challenges:
Privacy concerns, false positives/negatives, and high service costs for comprehensive testing challenge market penetration.

Fastest-Growing Region:
Asia-Pacific

Dominating Region:
North America

Market Leaders & Development Strategies:
In April 2024, Accurate Background launched a new next-gen drug & health screening services namely, mobile-first drug and health screening, which is designed to create a better candidate experience. The regulatory landscape is critical in shaping the drug screening service market. In the U.S., for example, the Department of Transportation mandates regular drug testing for employees in specific industries, while the Drug-Free Workplace Act encourages similar initiatives across federal contractors.

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The Global Drug Screening Service Market segments and Market Data Break Down are illuminated below:
Drug Screening Service Market is Segmented by Type (Laboratory-based, On-site) by Drug Type (Cannabinoids, Opioids, Stimulants, Others) by Sample Type (Urine Samples, Breath Samples, Oral Fluid Samples, Hair Samples, Others) by End User (Criminal Justice and Law Enforcement Agencies, Hospitals, Drug Treatment Centers, Individual Users, Pain Management Centers, Schools and Colleges, Others) and by Geography (North America, LATAM, West Europe, Central & Eastern Europe, Northern Europe, Southern Europe, East Asia, Southeast Asia, South Asia, Central Asia, Oceania, MEA)
Global Drug Screening Service market report highlights information regarding the current and future industry trends, growth patterns, as well as it offers business strategies to helps the stakeholders in making sound decisions that may help to ensure the profit trajectory over the forecast years.

Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
• The Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
• North America (United States, Mexico & Canada)
• South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
• Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
• Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).

Objectives of the Report
• -To carefully analyze and forecast the size of the Drug Screening Service market by value and volume.
• -To estimate the market shares of major segments of the Drug Screening Service
• -To showcase the development of the Drug Screening Service market in different parts of the world.
• -To analyze and study micro-markets in terms of their contributions to the Drug Screening Service market, their prospects, and individual growth trends.
• -To offer precise and useful details about factors affecting the growth of the Drug Screening Service
• -To provide a meticulous assessment of crucial business strategies used by leading companies operating in the Drug Screening Service market, which include research and development, collaborations, agreements, partnerships, acquisitions, mergers, new developments, and product launches.

Read Detailed Index of full Research Study: https://www.htfmarketintelligence.com/report/global-drug-screening-service-market

Major highlights from Table of Contents:
Drug Screening Service Market Study Coverages:
• It includes major manufacturers, emerging player's growth story, and major business segments of Drug Screening Service market, years considered, and research objectives. Additionally, segmentation on the basis of the type of product, application, and technology.
• Drug Screening Service Market Executive Summary: It gives a summary of overall studies, growth rate, available market, competitive landscape, market drivers, trends, and issues, and macroscopic indicators.
• Drug Screening Service Market Production by Region Drug Screening Service Market Profile of Manufacturers-players are studied on the basis of SWOT, their products, production, value, financials, and other vital factors.

Key Points Covered in Drug Screening Service Market Report:
• Drug Screening Service Overview, Definition and Classification Market drivers and barriers
• Drug Screening Service Market Competition by Manufacturers
• Impact Analysis of COVID-19 on Drug Screening Service Market
• Drug Screening Service Capacity, Production, Revenue (Value) by Region (2024-2031)
• Drug Screening Service Supply (Production), Consumption, Export, Import by Region (2024-2031)
• Drug Screening Service Production, Revenue (Value), Price Trend by Type {Laboratory-based, On-site}
• Drug Screening Service Manufacturers Profiles/Analysis Drug Screening Service Manufacturing Cost Analysis, Industrial/Supply Chain Analysis, Sourcing Strategy and Downstream Buyers, Marketing
• Strategy by Key Manufacturers/Players, Connected Distributors/Traders Standardization, Regulatory and collaborative initiatives, Industry road map and value chain Market Effect Factors Analysis.

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Key questions answered
• How feasible is Drug Screening Service market for long-term investment?
• What are influencing factors driving the demand for Drug Screening Service near future?
• What is the impact analysis of various factors in the Global Drug Screening Service market growth?
• What are the recent trends in the regional market and how successful they are?

Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Middle East, Africa, Europe or LATAM, Southeast Asia.

Nidhi Bhawsar (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Phone: +15075562445
sales@htfmarketreport.com

About Author:
HTF Market Intelligence Consulting is uniquely positioned to empower and inspire with research and consulting services to enable businesses with growth strategies, by offering services with extraordinary depth and breadth of thought leadership, research, tools, events, and experience that assist in decision-making.

This release was published on openPR.