(PharmaNewsWire.Com, July 07, 2020 ) Factors such as growing drug & alcohol consumption, enforcement of stringent laws mandating drug and alcohol testing, and regulatory approvals and new product & service launches are driving the growth of the market.
What the 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. The market is dominated by North America, followed by Europe, Asia Pacific, and the Rest of the World (RoW).
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.
The growth of the global market for Drug Screening Market is primarily influenced by the following factors:
1 Growing Drug & Alcohol Consumption 2 Enforcement of Stringent Laws Mandating Drug and Alcohol Testing 3 Presence of Government Funding in Major Markets 4 Regulatory Approvals & Product Launches and Services
The study involved four major activities to estimate the current market size for particle therapy. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research.
The drug screening market is highly competitive with the presence of several big and small players. Prominent players offering products for drug screening 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). On the other hand, LabCorp (US),etc
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