New York , Oct. 30, 2023 (GLOBE NEWSWIRE) -- The global drug screening market size is predicted to grow at a CAGR of over 19.8% from 2023 to 2035. The market is projected to garner a revenue of USD 63 billion by the end of 2035, up from a revenue of USD 7 billion in the year 2022. The growth of this market is set to be dominated by the growing illegal consumption of traditional drugs such as cocaine and marijuana. For instance, up to 21 million people use cocaine worldwide, with the Americas having the highest prevalence, according to the most recent figures. As a result, the market revenue for drug screening is poised to rise over the coming years.
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Additionally, there has been surge in initiatives by government to reduce the drug abuse. For instance, from Harm to Hope was a watershed moment for the UK government's joint purpose of combating illicit substances. For the years 2022 to 2025, financing of more than USD 3 billion is expected to be made available to carry out an ambitious plan that would set a global standard for severing drug supply chains, advancing the development of the system for treating addiction, and lowering drug demand. Hence, the market demand for drug screening is projected to grow over the coming years.
Drug Screening Market: Key Takeaways
- Market in North America to generate the largest market share.
- The Hospital segment to gather the highest growth
- Market in Asia Pacific region to grow at a highest rate
Surge in Use of Drugs in Workplace to Boost the Growth of Global Drug Screening Market
Drug screening are a crucial component of any background investigation and can assist employers in confirming that a candidate is not abusing illegal substances. Companies can uncover potential substance abusers among applicants by using drug screening. Absenteeism, poor job performance, and safety difficulties can all be caused by substance misuse. Furthermore, about 27% of respondents report using drugs while commuting to work in 2023, globally. Employers can verify that they are hiring workers who have a chance to be able to carry out their responsibilities safely and successfully by conducting drug screening on potential hires.
Drug Screening Industry: Regional Overview
The global drug screening market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Being Drugs Normalized to Drive the Market Growth in North America
The drug screening market in North America is projected to generate the largest market share of approximately 35% over the coming years. This could be owing to growing normalization of drugs among youth. However, drug overdose fatalities among adolescents are increasing at the quickest rate. The most drug-dependent age group in this category is 18 to 25-year-old, who take drugs at a rate of about 38%. Therefore, the need for drug screening in this region is growing in order to detect the drug user and to provide proper treatment to them.
Rising Consumption of Alcohol to Influence the Market Expansion in Asia Pacific
The Asia Pacific market for drug screening is set to capture the largest share in the market of about 24% over the forecast period. This could be owing to rising consumption of alcohol. However, for instance, about 3313 people were killed in accidents in India in 2021 as a result of drunk driving. As a result, the adoption of drug screening is growing in this region.
Drug Screening, Segmentation by End User
- Workplace
- Hospital
- Criminal Justice
The hospital segment is expected to capture the highest revenue of about 35% over the forecast period. This growth of the segment could be owing to rising prevalence of overdoes of medicines. Over 106,000 drug overdose deaths were reported in 2021, in US, an increase in mortality from 2019 to 2021. Hence, drug screening is extensively used in hospitals
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Drug Screening, Segmentation by Product Type
- Consumables
- Instruments
- Rapid Testing Devices
- Services
The rapid testing devices segment is predicted to gather the highest market share of about 30% over the forecast period. The major factor to dominate the expansion of this segment is rise in anti-doping cases in sports. For instance, in comparison with about 105 occurrences the year before, the Russian Anti-Doping Agency (RUSADA) reported approximately 134 instances of doping rule violations by athletes in the nation in 2022.
A few of the well-known market leaders in the global drug screening market that are profiled by Research Nester are Quest Diagnostics, Laboratory Corporation of America Holdings (LabCorp), Thermo Fisher Scientific, Alere Inc., Siemens Healthineers, Shimadzu Corporation, F. Hoffmann-La Roche AG, Express Diagnostics International Inc., OraSure Technologies, Dragerwerk AG & Co. KGaA, and others.
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Recent Development in the Market
- The U.S. Food and Drug Administration (FDA) authorized Quest Diagnostics to utilize a new test for the detection of the COVID-19 virus's Omicron form in an emergency. The examination is referred to as the "Quest SARS-CoV-2 RT-PCR test for the detection of the Omicron variant" and is intended for use with respiratory samples.
- PPD is a top global contract research organization (CRO), and Thermo Fisher Scientific announced that it had successfully acquired it. Through this acquisition, Thermo Fisher will be able to provide more clinical research services and enhance its market position in the life sciences and healthcare sectors. The acquisition is among the largest in the history of the healthcare sector, with a valuation of USD 27.2 billion.
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