Drug Screening Market Size Expected to Reach US$ 18.99 Billion and growing at CAGR of 17.3% Forecast by 2022 To 2029
DBMR has added a new report to their increasing litany of reports titled “Drug Screening Market Report”. The new study encompasses valuable insights using a variety of graphs, tables and figures that explores opportunities, trends and drivers surrounding the Drug Screening industry. This Report is created to provide the market landscape and unlimited guideline about contemporary market size, share, driving factors, trends, progressive growth, and dominant players of the Drug Screening market. The report serves overall information on the market to top manufacturers, distributors, traders, dealers. It will help them understand the product scope, market overview, market driving force, technological innovation, market risk, opportunities, and research findings.
Surging usage of drugs across the globe has accelerated drug screening adoption. According to the World Drug Report 2022, drug use disorders were estimated to affect 36.3 million people worldwide in 2019, accounting for nearly 13% of the global population. Drug use killed nearly half a million people in the same year and drug use disorders resulted in the loss of 18 million years of healthy life, primarily due to opioids. For subsiding the consumption of the drug, the stringent regulations are imposed widely. The market is projected to grow immensely over the forecasted period due to these factors.
Global Drug Screening Market was valued at USD 5.3 billion in 2022 and is expected to reach USD 18.99 billion by 2029, registering a CAGR of 17.3% during the forecast period of 2022-2029. The “urine” accounts for the largest sample type segment in the drug screening market within the forecasted period owing to the benefits it offers such as cost-effectiveness, high detection accuracy of multiple drugs and instant results. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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An international Drug Screening Market report explains market definition, classifications, applications, and engagements in the market. The industry report makes available an in depth description, competitive scenario, wide product portfolio of key vendors and business strategy adopted by competitors along with their SWOT analysis and porter's five force analysis. This wide ranging report is the best overview about global industry perspective, comprehensive analysis, size, share, growth, segment, trends and forecast. The winning Drug Screening report includes estimations of all the market drivers and market restraints which are mainly obtained from SWOT analysis while also providing the CAGR projections for the historic year 2020, base year 2029, and forecast period 2022-2029.
Drug Screening Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Growing Drugs Consumption
The rising consumption of illicit drugs is also expected to accelerate the market's overall growth as they further increase the adoption of drug screening products and services on the road. Moreover, the illegal drug use by teens will bolster the market growth.
Furthermore, the screening is easy to implement, thus offering flexible and effective workplace drug testing, which is also expected to fuel market growth. The increase in governmental funding to control drug trafficking is a significant factor that is projected to cushion the market's growth. The increasing road accidents due to overdose of drugs while driving and prescription drug misuse will further expand the drug screening market's growth rate in the future.
Restraints/Challenges Global Drug Screening Market
Prohibition of Drug Testing
The drug testing at some places (especially at workplace) is considered as a violation of employee privacy, which is expected to obstruct market growth.
The ban in consumption of drugs in certain places and accuracy issues related to breathalyzers are projected to challenge the drug screening market in the forecast period of 2022-2029.
Stringent Laws to Offer Growth Opportunities
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Product and Services
- Rapid Testing Devices (RTD)
- Laboratory Services
- Oral Fluid or Saliva
- Other Samples
- Workplace and Schools
- Criminal Justice Systems and Law Enforcement Agencies
- Drug Testing Laboratories
- Drug Treatment Centers
- Personal Users
- Pain Management Centers
Some of The Key Players Covered in the Drug Screening Market:
- Quest Diagnostics Incorporated.
- Thermo Fisher Scientific, Inc.
- Laboratory Corporation of America Holdings.
- F. Hoffmann-La Roche Ltd
- bioMérieux SA
- Drägerwerk AG & Co. KGaA,
- Bio-Rad Laboratories Inc
- Biomedical Diagnostics
- MPD, Inc.
On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Drug Screening market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Drug Screening market.
Regions and Country Level Analysis:
The report offers exhaustive assessment of different region-wise and country-wise Drug Screening markets such as the U.S., Canada, Germany, France, the U.K., Italy, Russia, China, Japan, South Korea, Taiwan, India, Australia, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Mexico, Brazil, Argentina, Saudi Arabia, UAE, Turkey, etc.
The report includes country-wise and region-wise market size for the period 2016-2029, by countries (regions), by Type, and by Application, as well as by players for North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.
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Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Europe or Asia.
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