Drug Screening Market is a CAGR of 16% during the forecast period 2022-2032

As per the Future Market Insights research, the drug screening market is forecasted to advance at a tremendous pace with a CAGR of 16% during the forecast period 2022-2032.

Drug Screening Market to reach US$ 5.3 Bn in 2021 to US$ 18 Bn by 2032 showing an immense improvement

A crucial driver of the drug screening market is the overuse of prescribed drugs and the elevated use of narcotics. According to one of the recent World Drug Reports, drug and alcohol abuse and consumption are on the rise globally.

Drug abuse killed nearly 500,000 people, while drug use disorders resulted in the loss of 18 million years of a healthy life, primarily due to opioids. Similar increases in alcohol consumption have been observed, with the consequences being an increase in the incidence of impaired driving.

The rising consumption of illicit drugs and alcohol will accelerate the development of drug screening products and services on the road, fuelling the drug screening market growth.

Request a sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-14265

Some countries, including South Africa, Colombia, Chile, Argentina, and Canada, consider workplace drug and alcohol testing to violate employee privacy. Such prohibitions in various countries may impede the adoption of drug screening devices etc., thereby limiting the overall market growth.

Several new products, devices, and services have also received regulatory approval and are being adopted by government agencies and corporate organizations and are expected to broaden drug screening market opportunities.

Companies in this market are expected to gain new opportunities as their business strategies shift toward oral swab drug tests and the development of the concept of fingerprint-based drug screening, thereby driving the demand for drug screening devices etc.,

Furthermore, New Psychoactive Substances (NPS) such as tryptamines, ketamine, piperazine, and phenethylamines can be considered emerging trends in the drug screening market. Owing to its low cost and dependability, urine samples are the most commonly used for testing, ramping up urine drug tests.

Influenced by factors as mentioned earlier and developments, the drug screening market is forecasted to touch US$ 11 Bn by 2026.

Key Takeaways:

• By product type, the consumables segment is likely to dominate the market since they provide improved solutions to make testing accurate and quick, accelerating market growth.
• As it is a quicker and less invasive sample to collect at the roadside, the oral fluid sample segment is expected to account for a significant drug screening market share by sample type.
• By drug type, the cannabis/marijuana segment is forecasted to hold sway over the drug testing industry since marijuana or cannabis is the most commonly used illicit substance in critical markets.
• Drug testing laboratories are predicted to be at the forefront of the market by end-use, owing to their widespread acceptance and accurate result.
• The drug screening market size accounted for around US$ 5.3 Bn in 2021.

 Request a TOC@ https://www.futuremarketinsights.com/toc/rep-gb-14265

“North America is projected to reign the market owing to the government implementing strict workplace testing regulations as well as expansion strategies followed by players. Furthermore, the region’s high adoption of technologically advanced solutions & favourable reimbursement scenarios has fuelled the market growth. New organ-on-a-chip platforms enable more precise and accurate perception of drug effects on the human body, and its advancements are also contributing to the growth of the North American drug screening market.” asserts an FMI researcher.

Competitive Landscape:

Some of the notable players in the drug screening market are Premier Biotech (US), Abbott Laboratories (US), Alfa Scientific Designs (US), OraSure Technologies (US), Shimadzu (Japan), Drägerwerk (Germany), LifeLock (US), Thermo Fisher Scientific (US), MPD Inc. (US), Omega Laboratories (US), Psychemedics (US), Roche (Switzerland), and Siemens Healthineers (Germany), Quest Diagnostics (US).

To capture larger market shares, key companies are pursuing various growth strategies such as mergers and acquisitions, geographic expansion, product invention leading to some significant recent developments in the drug screening market.

• Drager Safety Canada’s Drager drug test 5000 drug testing device received government approval, making it the country’s first roadside oral fluid drug testing device with active government support.
• Intelligent fingerprinting limited, based in the United Kingdom, has released the world’s first portable fingerprint drug test to detect and analyze marijuana, opiates, and amphetamines. The newly launched device allows for sample collection and analysis in 10 minutes, speeding up the process.

Key Segments

By Sample Type:

• Urine samples
• Breath Samples
• Oral Fluid Samples
• Hair Samples
• Other Samples

Ask An expert here @ https://www.futuremarketinsights.com/askus/rep-gb-14265

By Product and Service:

• Drug screening
• Analytical Instruments
• Rapid Testing Devices
• Consumables
• Drug Screening Service

By End User:

• Drug Testing Laboratories
• Criminal Justice and Law Enforcement Agencies
• Hospitals
• Drug Treatment Centers
• Individual Users
• Pain Management Centers
• Schools and Colleges
• Workplaces

By Region:

• North America
• Latin America
• Asia Pacific
• Europe
• Middle East & Africa

About FMI:

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs