Home Press Releases Drug Testing Market Size Worth $11.83 Billion By 2028 | CAGR: 5.0%

Drug Testing Market Size Worth $11.83 Billion By 2028 | CAGR: 5.0%

The global drug testing market size is expected to reach USD 11.83 billion by 2028 according to a new study by Polaris Market Research. The report “Drug Testing Market Share, Size, Trends, Industry Analysis Report, By Drug Type; By Sample Type; By Product (Consumables, Instruments, Rapid Testing Devices, Services); By End-Use; By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

The rapidly increasing number of people involved in substance abuse across the globe, along with stringent regulations imposed by many governments and organizations necessitating the need for substance abuse screening & testing, will propel the industry growth during the forecast period. The advancements in new technology, such as non-invasive substance abuse screening, will provide an opportunity for the industry to grow in the coming years.

 

There is a rapid increase in the use of substance abuse across the globe, with nearly 5.5% of the global population is using some form of illicit drugs. Many countries have stringent rules for substance abuse to reduce disorders and fatal road accidents.

 

For instance, in the U.K., the offender’s license will be refused or revoked upon confirmation of substance use after testing. In the U.S., people serving in workplaces, who need to be free of substance abuse, must undergo a strict screening process before enrolling them as potential employers.

 

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The advancement in technologies is expected to bring more non-invasive screening devices such as screening based on fingerprinting will be available in the market. These devices will provide rapid results within few minutes and will also eliminate the problems associated with arrangements and biohazard disposal facilities associated while using traditional samples such as urine, blood, or saliva samples.

 

Many new developments related to the market have taken place in recent times. Intelligent Fingerprinting received U.S. funding in May 2020 that will help in the development of non-invasive screening technology known as Intelligent Fingerprinting analysis technique, which will detect multiple substance abuse in less than ten minutes.

 

The emergence of the COVID-19 pandemic is expected to drive the growth of the global market in the forecast period as many people are indulging in substance abuse to overcome the mental stress caused due to loss of employment and deterioration of the economy in many parts of the world. According to a survey, there is a 17.6% increase in suspected overdoses of substances in the U.S. following stay-at-home orders due to lockdown.

 

Market participants such as Abbott Laboratories, Quidel Corporation, Quest Diagnostics Incorporated, Thermo Fisher Scientific, Inc., Siemens Healthineers, F. Hoffmann-La Roche, Agilent Technologies, Inc., LabCorp, Cordant Health Solutions, Bio-Rad Laboratories, Inc., and Omega Laboratories, Inc., are the major players operating in the global market.

 

Polaris Market research has segmented the drug testing market report on the basis of product type, sample type, drug type, end-use, and region:

 

Drug Testing, Product Outlook (Revenue – USD Million, 2016 – 2028)

  • Consumables
  • Instruments
  • Rapid Testing Devices
  • Services

Drug Testing, Sample Type Outlook (Revenue – USD Million, 2016 – 2028)

  • Urine Samples
  • Oral Fluid Samples
  • Hair Samples
  • Other Samples

Drug Testing, Drug Type Outlook (Revenue – USD Million, 2016 – 2028)

  • Alcohol
  • Cannabis/Marijuana
  • Cocaine
  • Opioids
  • Amphetamine & Methamphetamine
  • LSD
  • Others

Drug Testing, End-Use Outlook (Revenue – USD Million, 2016 – 2028)

  • Laboratories
  • Workplaces
  • Hospitals
  • Others

Drug Testing, Regional Outlook (Revenue – USD Million, 2016 – 2028)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • Italy
    • France
    • Spain
    • Austria
    • Netherlands
  • Asia Pacific
    • China
    • Japan
    • India
    • Indonesia
    • Malaysia
    • South Korea
  • Latin America
    • Brazil
    • Argentina
    • Mexico
  • Middle East & Africa
    • Israel
    • Saudi Arabia
    • South Africa
    • UAE

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