CHICAGO, May 16, 2024 /PRNewswire/ -- Drug Screening Market in terms of revenue was estimated to be worth $9.1 billion in 2024 and is poised to reach $19.5 billion by 2029, growing at a CAGR of 16.6% from 2024 to 2029 according to a new report by MarketsandMarkets™.

Factors such as mounting drug & alcohol consumption, enforcement of stringent laws mandating drug and alcohol testing, increasing government funding in major markets, and rising regulatory approvals and service and product launches are the some of the factors driving the growth of this market.

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Drug Screening Market Scope:

Services segment is expected to grow at the highest CAGR during the forecast period in 2024.

On the basis of product & service segment, the drug screening market is bifurcated into services and products. In 2023, the services segment accounted for the largest share of the drug screening market. Factors such as rising global drug and alcohol consumption, funding schemes for drug testing laboratories, and rising regulatory approvals for drug products & services, and geographic extensions of drug & alcohol testing laboratories.

Analytical instruments are projected to dominate the drug screening products market in 2023, by product.

On the basis of drug screening product, the drug screening market is bifurcated into analytical instruments, rapid testing devices, and consumables. The analytical instruments are expected to dominate the market in 2023.  However, the rapid testing devices segment is expected to register the highest CAGR during the forecast period, owing to its recurring requirement. Analytical instruments for drug screening are further categorized into immunoassay analyzers, chromatography instruments, and breathalyzers. The breathalyzers segment accounted for largest share of the drug screening products market, by analytical instruments.

Urine sample segment is accounted for the largest share of the drug screening market in 2023, by sample type.

On the basis of   sample type, drug screening market is bifurcated into urine, breath, oral fluid, hair, and other samples. In 2024, the urine sample segment is expected to account for the largest share of drug screening market. Urine tests are widely adopted in drug screening tests due to their accuracy in detecting multiple drug classes. Urine tests are also cost-effective and showcase instant results.

By region, North America to dominate the market for drug screening in 2024

In 2024, North America is projected to dominate the market followed by Europe. Factors such as the increasing consumption of illicit drugs, the increasing burden of accidents due to alcohol impairment, the availability of government funding to curb drug abuse, laws supporting drug screening, and the existence of key players in the region are factors driving the growth of the drug screening market in this region.

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Drug Screening Market Dynamics:

Drivers:

1.  Growing drug and alcohol consumption

Restraints:

1.  Ban on alcohol consumption in several Islamic countries

Opportunities:

1.  Oral Fluid Testing

Challenge:

1.  Accuracy and specificity concerns related to breathalyzers

Key Market Players of Drug Screening Industry:

Prominent players offering drug screening products and services include Labcorp (US), Quest Diagnostics (US), Abbott (US), Thermo Fisher Scientific Inc. (US), Alfa Scientific Designs, Inc. (US),  OraSure Technologies Inc. (US), Siemens Healthineers AG (Germany), F. Hoffmann-La Roche Ltd   (Switzerland), MPD Inc. (US), Shimadzu Corporation (Japan), Lifeloc Technologies, Inc. (US), Drägerwerk AG & Co. KGaA (Germany), Premier Biotech, Inc. (US), Omega Laboratories, Inc. (US), Psychemedics Corporation (US), Clinical Reference Laboratory, Inc. (US), American Bio Medica Corporation (US), ACM Global Laboratories (US), CareHealth America Corp (US), Sciteck, Inc. (US), Intoximeters, Inc. (US), AccuSourceHR, Inc. (US), Cordant Health Solutions (US), Intoxalock (US), Millennium Health (US).

The primary interviews conducted for this report can be categorized as follows:

• By Company Type - Tier 1: 57%, Tier 2: 30%, and Tier 3: 13%
• By Designation - C-level: 30%, D-level: 45%, and Others: 25%
• By Region - North America: 40%, Europe: 19%, Asia Pacific: 29%, Latin America: 7% and Middle East and Africa: 5%

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Drug Screening Market - Key Benefits of Buying the Report:

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. Additionally, it analyzes the factors that can influence the market's growth, such as drivers, restraints, and opportunities. It also examines the competitive landscape, providing details on the major players in the market. Lastly, the report forecasts revenue for the market segments across four major regions.

Reasons to Buy the Report:

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.

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