Dublin, June 04, 2024 (GLOBE NEWSWIRE) -- The "Global Drug Screening Market by Product (Rapid Testing (Urine, Oral), Analytical (Breathalyzer, Immunoassay, Chromatography)), Sample (Urine, Breath, Hair), Drug (Alcohol, Cannabis, Opioids), End User (Workplace, Hospital, Law) - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global drug screening market is projected to reach USD 19.5 billion by 2029, from USD 9.1 billion in 2024, at a CAGR of 16.6%
The report dives into the global drug screening market, aiming to assess its current size and predict its future growth. It accomplishes this by segmenting the market based on various factors including product type, service type, sample collection method, end user, and geographical location. By understanding these market segments, the report offers insights into the opportunities available for businesses in this field.
Factors such as enforcement of stringent laws mandating drug & alcohol testing, increasing drug & alcohol consumption, growing regulatory approvals for drug screening products & services. However, prohibits on alcohol consumption in Islamic countries and bans on workplace drug testing in particular countries may hamper the growth of this market to a definite extent.
In 2023, North America holds for the largest share of the drug screening market followed by Europe. However, Asia Pacific is deemed to register the highest growth rate during the forecast period. The high growth of this regional segment is credited due to the growing illicit consumption of drugs, stricter regulations are being implemented that require more frequent drug testing.
Drug screening services are expected to grow at the highest CAGR from 2024-2029.
Drug screening market is divided into drug screening products and drug screening services. The services segment is stated to hold the highest growth rate during the forecast period, factors such increasing drug & alcohol consumption worldwide, geographic expansions of drug & alcohol testing laboratories, funding initiatives for drug testing laboratories, stringent laws regarding drug testing, and increasing approvals for drug tests contribute to the market.
Analytical instrument segment to dominate the drug screening products market from 2024-2029.
Drug screening products are divided into analytical instruments, rapid testing devices, and consumables. The analytical instruments segment holds for the largest share of the drug screening products market in 2023. Factors such as growing alcohol consumption, rising drunk driving & DUI cases, stringent government laws mandating drug & alcohol testing, and technological advancements in analytical instruments. However, the rapid testing devices market is stated to register the highest growth rate during the forecast period, owing to its constant requirement.
The report provides insights on the following pointers:
- Market Penetration: extensive information on drug screening offered by the top 25 players in the drug screening market. The report analyses the drug screening market by product and service, sample type, drug type, end user, and region.
- Analysis of key drivers (increase in drug abuse and alcohol consumption, enforcement of stringent laws,) restrains (ban on alcohol consumption on Islamic states), challenges (false positive and inaccurate results of breathalyzer), opportunities (oral fluid testing and emerging economies) are contributing the growth of the drug screening market.
- Market Development: Comprehensive information about economic emerging markets. The report analyses the markets for various drug screening across key geographic regions.
- Product Development/Innovation: Detailed insights on upcoming trends, research & development activities, and new product/service launches in the drug screening market.
- Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the drug screening market.
- Company profiling: In-depth assessment of company profiling and their market ranking and strategies of the leading players in the drug screening market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 505 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $9.1 Billion |
| Forecasted Market Value (USD) by 2029 | $19.5 Billion |
| Compound Annual Growth Rate | 16.6% |
| Regions Covered | Global |
Company Profiles
- Laboratory Corporation of America Holdings
- Quest Diagnostics
- Abbott
- Orasure Technologies Inc.
- Alfa Scientific Designs Inc.
- Thermo Fisher Scientific Inc.
- Dragerwerk AG & Co. KGaA
- Lifeloc Technologies, Inc.
- Mpd Inc.
- Omega Laboratories, Inc.
- Premier Biotech, Inc.
- Psychemedics Corporation
- F. Hoffmann-La Roche Ltd.
- Shimadzu Corporation
- Siemens Healthineers AG
- American Bio Medica Corporation
- Acm Global Laboratories
- Carehealth America Corp.
- Clinical Reference Laboratory, Inc.
- Intoximeters
- Sciteck, Inc.
- Accusourcehr, Inc.
- Cordant Health Solutions
- Intoxalock
- Millennium Health
- Advacare Pharma
For more information about this report visit https://www.researchandmarkets.com/r/vi59nl
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