Overview of This Study:
This study involved four major activities in estimating the current size of the drug screening market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market
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Major Growth Driving Factors:
The growth of this market is driven by increasing drug and alcohol consumption, strict enforcement of laws mandating drug and alcohol testing, and increasing regulatory approvals for drug screening products and services. Meanwhile, alcohol consumption bans in Islamic countries and workplace drug testing bans in certain countries could hamper the growth of this market to some extent.
Recent Developments in Drug Screening Market
· In August 2021, Quest Diagnostics and Select Health of South Carolina entered into an agreement to expand Select Health’s laboratory network for its Medicaid and Medicare-Medicaid dual-eligible enrollees and to enhance access to diagnostics information services for members.
· In September 2020, LabCorp Entered into a multi-year agreement with Infirmary Health (US) to offer laboratory testing services in the eastern Gulf Coast.
· In May 2020, Psychemedics introduced a vaping panel test that detects the ingestion of marijuana, CBD, and nicotine drugs by all methods, including electronic cigarettes or smoking
· In April 2019, Thermo Fisher Scientific introduced CEDIA Mitragynine (Kratom) Assay for the detection of Kratom for criminal justice and forensic use only
· In May 2018, Omega Laboratories introduced the Omega Hair 17-panel drug test capable of detecting 45 different substances, including eight commonly abused variants of benzodiazepines
OPPORTUNITY: Emerging economies
Fingerprint-based drug testing is a relatively new concept that has gained significance due to the COVID-19 pandemic. The coronavirus has made it difficult to execute drug testing in hospitals, labs, and other facilities due to the risk of transmitting the infection. Although fingerprint-based drug screening can help limit the spread of COVID, it is noninvasive, portable, less time-consuming, hygienic, enables social distancing, is user-friendly, and requires no specific preparation for sample collection and handling.
Global Market Key players
The drug screening market is highly competitive and populated by several big and small players. Prominent players offering drug screening products and services include LabCorp (US), Quest Diagnostics (US), Abbott Laboratories (US), Thermo Fisher Scientific, Inc. (US), Alfa Scientific Designs, Inc. (US), OraSure Technologies, Inc. (US), Siemens Healthineers (Germany), Roche (Switzerland), MPD Inc. (US), Shimadzu (Japan), LifeLoc Technologies (US), Drägerwerk (Germany), Premier Biotech, Inc. (US)
Different Growth Strategies Adopted by Them:
Market Competitive Analysis:
Top 10 players in this industry profiled in the report include. These players have adopted various strategies including expansions, mergers & acquisitions, joint ventures, new product launches, and collaborations to gain a strong position in the industry.
LabCorp (US): LabCorp is a leading player in the US drug screening services market. The company’s leading position is attributed to its wide drug testing portfolio, including over 4,800 tests.
Abbott Laboratories (US): Abbott Laboratories has a strong product portfolio, and its FDA and CE Mark-approved products have helped the company enhance its presence in the drug screening market.
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Major Revenue Growth Expectations:
The global drug screening market is projected to reach USD 11.6 billion by 2026, from USD 5.3 billion in 2021, at a CAGR of 16.8% during the forecast period.
