USD 5.30 Billion
Report ID: SQMIG35D2032 | Region: Global | Published Date: September, 2022 | Pages: 157 | Tables: 92 | Figures: 77
Drug Testing Market was valued at USD 5.30 Billion in 2021, and it is expected to reach a value of USD 15.72 Billion by 2028, at a CAGR of 16.8% over the forecast period (2022 - 2028).
The process of detecting illicit and some prescribed medications in blood, urine, and other biological samples is known as drug testing. A drug testing method is also known as the analysis and detection of performance-enhancing substances (such as steroids and HGH) used by professional athletes to boost stamina and performance during competition. Government agencies' stringent rules demanding alcohol and drug testing for safety concerns, as well as increased activities to monitor and prevent substance addiction, are expected to boost market growth. Furthermore, the rising prevalence of substance misuse around the world has increased the necessity for screening, fueling the demand for drug testing. Furthermore, the COVID-19 epidemic and the associated business closures, economic slowdown, and job losses have harmed people's mental health and contributed to increasing rates of substance usage.
US Drug Testing Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 5.30 Billion
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The global drug testing market is segmented based on product type, sample type, end user, and region. Based on the product type, the market is segmented into analytical instruments, rapid testing devices, and consumables. Based on the sample type, the market is segmented into urine, breath, oral fluids, others. Based on the end user, the market is segmented into hospitals, workplace, criminal justice, laboratories. Based on the region it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Product Type
Based on the product type, the market is segmented into analytical instruments, rapid testing devices, and consumables. Among these, the consumables segment of the market is projected to hold the most substantial market share. The increased availability of modern consumables that offer enhanced solutions for making testing simple, precise, and quick has propelled market expansion. For example, at the 2019 American Association for Clinical Chemistry (AACC) Annual Scientific Meeting in August 2019, MedTest Dx, Inc. launched Clinitox Calibrators and Controls. These calibrators and controls perform confirmation testing for laboratories in order to reduce the need for step measurement and management of controls and certifications, as well as the necessity to purchase and set-up materials and multiple handling. This thus is projected to contribute to the segmental growth of the market in the upcoming years.
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In 2021, North America is expected to have the biggest market share. The North American market's dominance is attributed to factors such as rising illicit drug consumption, the availability of government funding to combat drug abuse, laws supporting drug screening, the rising burden of accidents caused by alcohol impairment, and the presence of key players in the region, all of which are driving the growth of the drug testing market in this region. Certain factors, such as an increase in the number of drug and alcohol misuse cases and the strict enforcement of regulations. New organ-on-a-chip technologies provide more precise and accurate perception of pharmacological effects on the human body. Organ-on-a-chip advancements are also contributing to the expansion of the North American drug testing market.
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The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions.
Top Players in the Global Drug Testing Market
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global drug testing market is segmented based on product type, sample type, end user, and region. Based on the product type, the consumables segment of the market is projected to hold the most substantial share in the market. Based on the sample type, the breath segment of the market is projected to hold the most substantial share in the market. Based on the end user, the hospitals segment of the market is projected to hold the most substantial share in the market.
|Market size value in 2021||USD 5.30 Billion|
|Market size value in 2028||USD 15.72 Billion|
|Forecast period||2022 - 2028|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Drug Testing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Drug Testing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Drug Testing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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