Product Code: RP-ID-10336529 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Healthcare & Pharmaceuticals |
Report ID: 10336529
Market Overview:
Global Drug Screening Laboratory Services Market Size study, by Service Type (Workplace Drug Testing, Clinical Toxicology), by Sample Type (Urine Sample, Oral Fluid Sample, Hair Sample, Others), by End-User (Hospital Laboratories, Clinical Laboratories, Others) and Regional Forecasts 2020-2027
Global Drug Screening Laboratory Services Market is valued approximately at USD 6.7 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 9.4% over the forecast period 2020-2027. Drug screening tests are usually used to detect biological samples, such as blood, hair, & urine, to examine substance obsession or its metabolites in the patient’s body. In general, drug screening tests are used to assess a person’s addiction to drugs at a specific point in time. These tests are performed at hospitals, on trained athletes, at place of employment, school, and post-accident. Drug screening is a rapid & painless analysis and is considered as a vital part of enduring treatment and diagnosis. The drug screening device further improve the execution of evolving technologies that provide precise and reliable results for individuals These screening tests are increasingly used by employers to maintain a clean, safe, and healthy personnel, which aids to increase productivity and an appropriate work environment. An increase in consumption of drugs and alcohol among youth and elderly population, overconsumption of prescribed drugs, and the implementation of stringent laws mandating for alcohol & drug testing are the few factors responsible for the CAGR of the market during the forecast period. According to the World Drug Report released by UNODC (United Nations Office on Drugs and Crime), in 2019, around 35 million people were suffered from drug use disorders across the globe, while only 1 in 7 individuals receive proper diagnosis & treatment. Likewise, as per the World Drug Report 2017, the UNODC estimated that around 29.5 million people were affected by drug use disorders all over the world. This, in turn, is anticipated to accelerate the demand for drug screening laboratory services thereby, making a significant impact on the market growth in the forecast years. However, the prohibition of workplace drug testing in some countries and lower demand across underdeveloped countries are the major factors restraining the market growth over the forecast period of 2020-2027.
The regional analysis of the global Drug Screening Laboratory Services market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rise in consumption of alcohol and illicit drugs at the workplace, increasing government funding for drug testing, and the presence of a significant number of manufacturers in the region. Whereas Europe is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as a surge in the prevalence of drug abuse & drug addiction, along with the rise in healthcare reforms would create lucrative growth prospects for the Drug Screening Laboratory Services market across the European region.
Major market player included in this report are:
Abbott Laboratories
Quest Diagnostics Incorporated.
Clinical Reference Laboratory, Inc
Laboratory Corporation of America Holdings
Sterling Healthcare Opco LLC,
Cordant Health Solutions
ACM Global Laboratories, Inc.
Omega Laboratories
Millennium Health LLC
Mayo Foundation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Service Type:
Workplace Drug Testing
Clinical Toxicology
By Sample Type:
Urine Sample
Oral Fluid Sample
Hair Sample
Others
By End-User:
Hospital Laboratories
Clinical Laboratories
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Drug Screening Laboratory Services Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
Abbott Laboratories
Quest Diagnostics Incorporated.
Clinical Reference Laboratory, Inc
Laboratory Corporation of America Holdings
Sterling Healthcare Opco LLC,
Cordant Health Solutions
ACM Global Laboratories, Inc.
Omega Laboratories
Millennium Health LLC
Mayo Foundation
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