Drug Screening Laboratory Services Market Size 2021 to Garner $7.05 Billion at 9.4% CAGR Globally by 2027
Pune, Maharashtra, India, February 18 2021 (Wiredrelease) Allied Analytics –:Stringent government regulation regarding drug abuse, rise in awareness against drug abuse, and surge in funding for drug screening have boosted the growth of the global drug screening laboratory services market. However, consideration of drug screening as a violation of rights hampers the market growth. On the contrary, development of novel drug screening tests and potential in emerging markets are expected to create lucrative opportunities for the market players in the coming years.
“Drug Screening Laboratory Services Market by Service type, (Workplace Drug Testing and Clinical Toxicology Testing), Sample Type (Urine, Oral Fluid, Hair and Others), End User (Retail, Oil & Gas, Transportation, Staffing, Government, Other Workplace, Hospital Laboratories, Clinical Laboratories, and Other Laboratories): Global Opportunity Analysis and Industry Forecast, 2020-2027 by Service type, (Workplace Drug Testing and Clinical Toxicology Testing), Sample Type (Urine, Oral Fluid, Hair and Others), End User (Retail, Oil & Gas, Transportation, Staffing, Government, Other Workplace, Hospital Laboratories, Clinical Laboratories, and Other Laboratories): Global Opportunity Analysis and Industry Forecast, 2020-2027″. According to the report, the global drug screening laboratory services industry accounted for $6.72 billion in 2019, and is expected to reach $7.05 billion by 2027, growing at a CAGR of 9.4% from 2020 to 2027.
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– During the pandemic, incidences of substance abuse have increased as people are experiencing stress, anxiety, and fear. Thus, the demand for drug screening tests has increased.
– However, disrupted supply chain and lack of healthcare professionals have negatively affected the drug screening processes.
“The workplace drug screening services market is negatively impacted by COVID 19 outbreak owing to the adoption of lock down across the globe.”
The urine sample type segment dominated the market
By sample type, the urine held the largest share in 2019, accounting for more than 90% of the global drug screening laboratory services market, owing to rise in adoption of point of care drug screening, rapid & easy drug screening, and detection multiple drug abuse cases in one test. However, the hair segment is expected to register the highest CAGR of 14.2% during the forecast period, owing to benefits such as non-invasive nature, low risk of sample tampering, and longer window of detection.
The retail segment to manifest the highest CAGR through 2027
By end user, the retail segment is expected to portray the highest CAGR of 13.1% during the forecast period. Moreover, the segment held the lion’s share in 2019, accounting for nearly one-fifth of the global drug screening laboratory services market, owing to increase in incidence of drug abuse in the retail industry.
North America dominated the market
By region, the global drug screening laboratory services market across North America held the largest share in 2019, contributing to three-fourths of the market. Moreover, the region is expected to manifest the highest CAGR of 11.3% during the forecast period, due to rise in use of alcohol and illicit drugs at workplaces, higher adoption of drug screening products, and rise in government funding for drug testing. The report includes an in-depth analysis of the market across Europe, Asia-Pacific, and LAMEA.
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Some of the key players operating in the drug screening laboratory services market include Abbott Laboratories (Alere Inc.), 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, Psychemedics, Millennium Health, Mayo Foundation For Medical Education and Research, and Precision Diagnostics.
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