Increasing R&D Expenditure in medical device industry Driving Growth in Drug Testing Market
What the drug screening market Looks Like?
The drug screening market was valued at USD 4.86 Billion in 2016 and is expected to reach USD 8.63 Billion by 2022, growing at a CAGR of 10.2% during the forecast period. The base year considered for the study is 2016 and the forecast period is from 2017 to 2022.
Drug abuse and alcohol consumption are increasing across the globe. According to the United Nations Office on Drugs and Crime (UNODC), in 2015, about 5% of the global adult population consumed drugs at least once. Also, 0.6% of the global adult population suffers from drug use disorders. The extent of harm caused by drugs is equal to losing 28 million years of “healthy” life (disability-adjusted life years [DALYs]), globally.
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What Drives the drug screening market?
The growth of the global drug screening market is primarily influenced by the following factors:
- Growing Drug & Alcohol Consumption
- Enforcement of Stringent Laws Mandating Drug and Alcohol Testing
- Presence of Government Funding in Major Markets
- Regulatory Approvals & Product Launches and Services
The global market by sample type is segmented into urine, breath, oral fluid, hair, and other samples. The urine sample segment is estimated to account for the largest share in 2017, however, the oral fluid samples segment is expected to register the highest growth rate during the forecast period.
Based on end users, the market is segmented into workplaces, criminal justice systems and law enforcement, drug treatment centers, pain management centers, schools and colleges, hospitals, individual users, and drug testing laboratories. In 2017, the workplace testing segment is expected to account for the largest share of the market. The growth of this end-user segment can be attributed to the growing safety concerns in the workplace and the increasing number of organizations that have made regular drug screening mandatory.
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The objectives of this study are as follows:
- To define, describe, segment, and forecast the global market by product and service, sample type, end user, and region To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, challenges, and market-specific trends)
- To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
- To analyze the opportunities in the market for stakeholders and provide details of competitive landscape for market leaders
- To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW). To profile key players and comprehensively analyze their market shares and core competencies
- To track and analyze competitive developments such as agreements, partnerships, and collaborations; acquisitions; product launches and approvals; expansions; and R&D activities in the global market.
The market is dominated by North America, followed by Europe, Asia Pacific, and the Rest of the World (RoW). The dominance of the North American market is attributed to factors such as rising consumption of illicit drugs, availability of government funding to curb drug abuse, and the presence of laws supporting drug screening, and growing burden of accidents due to unsafe levels of alcohol consumption. Target Audience for this Report:
- Drug and alcohol testing laboratories
- Drug and alcohol testing product manufacturing companies
- Rapid drug screening device manufacturers
- Law enforcement agencies
- Healthcare providers
- Government agencies
- Research and consulting firms
- Venture capitalists
The Drug Screening Market is highly competitive with presence of several big and small players. Prominent players offering drug screening products include Alere (US), Thermo Fisher (US), Drägerwerk (Germany), OraSure (US), Alfa Scientific Designs (US), Lifeloc (US), MPD, Inc. (US), Premier Biotech (US), Shimadzu (Japan), Siemens Healthineers (US). While, LabCorp (US), Quest Diagnostics (US), Omega Laboratories (US), Psychemedics (US), CRL (US), SureHire (Canada), and CannAmm (Canada) are some of key players offering drug screening services.
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