Drug Screening Market to Reach Market Valuation of USD 35.18 Billion by 2031 | SkyQuest Technology
Westford, USA, Sept. 27, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the Global Drug Screening Market will reach a value of USD 35.18 Billion by 2031, with a CAGR of 16.5% during the forecast period (2024-2031). Drug screening market is speedily progressing with focus on the analysis or testing for the presence of substances and drugs in individuals. It comprises testing methods like saliva, blood, urine and hair and applications like forensic examinations, workplace testing, and clinical diagnostics. The drug screening market is propelled by the growing awareness of substance abuse, workplace safety needs and strict regulations, and improvements in testing methods. In addition, the need for early detection of substance use illnesses and growth of drug abuse is fueling the market.
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Drug Screening Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 10.37 Billion |
| Estimated Value by 2031 | USD 35.18 Billion |
| Growth Rate | Poised to grow at a CAGR of 16.5% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, End-User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Growing number of patent filings by major market players |
| Key Market Opportunities | Growing Advancements that Improve Predictive Power of Drug Screening |
| Key Market Drivers | Increased Consumption of Alcohol and Drug |
Drug Screening Market Segmental Analysis
Global Drug Screening Market is segmented by Product & Service, Sample Type, application, end user and region.
Based on Product & Service, the market is segmented into Drug Screening Services, and Drug Screening Products.
Based on Sample Type, the market is segmented into Urine Samples, Breath Samples, Oral Fluid Samples, Hair Samples, and Other Samples.
Based on Drug Type, the market is segmented into Cannabis, Alcohol, Cocaine, Opioids, Amphetamine and Methamphetamine, and Other Drugs.
Based on end user, the market is segmented into Drug Testing Laboratories, Workplaces, Criminal Justice Systems and Law Enforcement Agencies, Hospitals, Drug Treatment Centers, Individual Users, Pain Management Centers, Schools and Colleges, and Other End Users.
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Cannabis Segment to Hold Maximum Market Share Owing to Increased Applications and Legalization
By type, the cannabis segment held a notable market share in the previous years and is anticipated to lead in the future, owing to its legalization for recreational and medicinal purposes in different regions. This has led to increased demand for cannabis drug screening in legal compliance needs and workplace testing. This, along with its broader applications, is fueling the segment’s growth. On the other hand, the opioids segment will grow considerably in the forthcoming years owing to the major rise in the cases of opioid-associated fatalities and overdoses. This upsetting growth in prescription opioid misuse and unlawful use of opioids like synthetic opioids and heroin is resulting in the escalating need for opioid drug screening.
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Drug Testing Laboratories Segment Led the Market Due to Exhaustive Drug Screening Services Offered
By end-user, the drug testing laboratories segment dominated the market in the past years and will continue to lead in the future owing to its widespread services that use technologies and advanced testing techniques to confirm reliable and accurate results. These laboratories cater to several customers, such as healthcare facilities, workplaces, law enforcement agencies, and sports organizations. On the other hand, the workplaces segment will hold a notable market in the future owing to the increasing need to ensure a productive and safe working environment. Companies are increasingly becoming aware of the negative effects of drug abuse on productivity, workplace safety, and overall performance. This ultimately increases the need for effective drug screening services, thus impacting the segment’s growth.
Highly Developed Healthcare Infrastructure to Dominate Market in North America
Geographically, North America dominated the drug screening market in 2023 and is expected to lead in the future as well owing to the presence of well-developed healthcare infrastructure and strict regulatory laws that encourage drug monitoring and testing programs. Moreover, the rising cases of drug addiction and abuse in the region are fueling the market growth. in addition, the region is home to several leading drug screening laboratories and companies, contributing to the market dominance.
Asia-Pacific is the fastest-growing region among others due to factors like developing healthcare infrastructure, speedy economic growth, and negative impacts of drug abuse. This enforces strict policies and regulations by organizations and governments to mandate drug screening in different sectors. Moreover, the growing disposable income in developing nations like India and China is increasing affordability of these services, thus impacting the market growth in the region.
Drug Screening Market Insight
Drivers:
- Presence of Strict Laws to Support Drug Screening
- Availability of Services and Products for Drug Testing
- Advancements in Testing Technologies
Restraints:
- Ban on Workplace Drug Testing
- Lack of Trained Laboratory Experts
- High Cost of Advanced Drug Screening Technologies
Prominent Players in Drug Screening Market
- Quest Diagnostics (US)
- Abbott (US)
- OraSure Technologies Inc. (US)
- Alfa Scientific Designs Inc. (US)
- Thermo Fisher Scientific, Inc. (US)
- Drägerwerk AG & Co. KGaA (Germany)
- Lifeloc Technologies, Inc. (US)
- MPD Inc. (US)
- Omega Laboratories, Inc. (US)
- Premier Biotech, Inc. (US)
- Psychemedics Corporation (US)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Shimadzu Corporation (Japan)
- Siemens Healthineers AG (Germany)
- American Bio Medica Corporation (US)
- ACM Global Laboratories (US)
- CareHealth America Corp. (US)
- Clinical Reference Laboratory, Inc. (US)
- Intoximeters (US)
- Sciteck, Inc. (US)
- AccuSourceHR, Inc. (US)
- Cordant Health Solutions (US)
- Intoxalock (US)
- Millennium Health (US)
- AdvaCare Pharma (US)
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Key Questions Answered in Global Drug Screening Market Report
- What is the growth rate of the Global Drug Screening Market by 2031, as per SkyQuest Technology?
- What are the drivers and opportunities in the Drug Screening Market?
- Who are the leading companies operating in the Drug Screening Market and what are the commonly adopted market strategies?
This report provides the following insights:
Analysis of key drivers (rising awareness and prevention programs, growing healthcare initiatives, increasing demand in forensic and legal applications), restraints (privacy issues, low awareness in unexplored regions, regulatory challenges), opportunities (workplace wellness initiatives, public health and government initiatives, expansion in developing markets), and challenges (reliability and accuracy concerns, technological integration, growing drug trends) influencing the growth of drug screening market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the drug screening market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the drug screening market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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