What is the market for global Drug Screening?


Posted August 3, 2022 by singhsimone

global drug screening market is projected to reach USD 11.6 billion by 2026

 
Drug screening tests analyze biological samples, including blood, hair, and urine. Diagnosing substance abuse or the presence of metabolites in the patient's body.

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 growth of this market is driven by increasing drug and alcohol consumption, stricter laws mandating drug and alcohol testing, and increasing regulatory approvals for drug screening products and services.

Recent Developments

In August 2021, Quest Diagnostics and Select Health of South Carolina entered into an agreement to expand Select Health’s laboratory network for its Medicaid and Medicare-Medicaid dual-eligible enrollees and to enhance access to diagnostics information services for members.
LabCorp Entered into a multi-year agreement with Infirmary Health (US) to offer laboratory testing services in the eastern Gulf Coast.
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Services segment is expected to grow at the highest CAGR during the forecast period.

The services segment accounted for the largest share of 57.4% of the drug screening market. 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.

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.

The urine sample segment is expected to account for the largest share of 61.5%. 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.

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.

Key Market Players:

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).

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LabCorp (US): LabCorp is a leading player in the US drug screening services market. The company’s leading position is attributed to its wide drug testing portfolio, including over 4,800 tests
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Issued By johnny
Country United States
Categories Blogging , Health
Tags what is the market for global drug screening
Last Updated August 3, 2022