Drug Screening Market to Hit USD 11.6 billion by 2026
The report "Drug Screening Market by Product (Consumables, Urine Testing Devices, Analytical, Breathalyzer, Chromatography, Immunoassay) & Services, Sample Type (Urine, Breath), End User (Workplace, Laboratories, Criminal Justice, Hospitals) - Global Forecast to 2026" The global drug screening market is projected to reach USD 11.6 billion by 2026, from USD 5.3 billion in 2021, at a CAGR of 16.8% during the forecast period. The rising drug & alcohol consumption, the enforcement of stringent laws mandating drug and alcohol testing, government funding in major markets, and regulatory approvals and product and service launches are the major factors driving the growth of this market.
Access Sample Copy of the Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=162987773
Services segment is expected to grow at the highest CAGR during the forecast period.
Based on service and product, the drug screening market is segmented into services and products. The services segment accounted for the largest share of 57.4% of the drug screening market in 2020. This segment is also expected to register the highest CAGR during the forecast period, mainly due to the growing drug & alcohol consumption worldwide, funding initiatives for drug testing laboratories, service launches and regulatory approvals, and geographic expansion of drug testing laboratories.
Analytical instruments are expected to dominate the drug screening products market in 2020.
Based on the product, the drug screening market is segmented into analytical instruments, rapid testing devices, and consumables. In 2020, the analytical segment is expected to dominate the market with a share of 53.0%. The high growth in this segment is owing to their recurring requirement and repetitive usage.
Based on the sample type, the urine sample segment is accounted for the largest share of the drug screening market.
By sample type, drug screening market is segmented into urine, breath, oral fluid, hair, and other samples. Among these, the urine sample segment is expected to account for the largest share of 61.5% in 2020. The high growth of this segment is attributed due to the benefits it offers such as easy collection method, high accuracy in the detection of multiple drugs, cost-effectiveness, and instant results.
North America to dominate the drug screening market in 2020.
In 2020, North America is expected to dominate the market with a share of 48.2%, followed by Europe. The large share of this geographical segment is attributed to factors such as growing consumption of illicit drugs, the availability of government funding to curb drug abuse, laws supporting drug screening, the growing burden of accidents due to alcohol impairment, and the presence of key players in the region are driving the growth of the drug screening market in this region.
The drug screening market is highly competitive with the presence of several small and big players. Some of the players offering products for drug screening market include Abbott Laboratories (US), Thermo Fisher Scientific (US), Quest Diagnostics (US), Alfa Scientific Designs (US), Roche (Switzerland), OraSure Technologies (US), MPD Inc. (US), and Shimadzu (Japan).
Don’t miss out on business opportunities in Drug Screening Market. Speak to our analyst and gain crucial industry insights that will help your business grow.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441