Published Date: 14-Jul-2021
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According to a new report Global Drug Testing Market, published by KBV research, The Global Drug Testing Market size is expected to reach $11.7 billion by 2027, rising at a market growth of 5.1% CAGR during the forecast period.
The services segment registered significant share of the drug testing market in 2020. The growth of the segment is expected to fuel by a surge in strategic initiatives being undertaken by several companies like collaborations, acquisitions, and partnerships in order to support public safety and government agencies. In August 2020, Averhealth obtained drug testing services of Treatment Assessment Screening Center (TASC). Averhealth would offer advanced substance use monitoring services for customers of TASC.
The oral fluid sample segment registered a substantial revenue share of the global drug testing market. The growth of the segment is credited to the fact that this method is a relatively fast and less invasive method of sample collection at the roadside. As per the NCBI 2020 study, a study performed among staff and patients revealed that people highly prefer oral fluid samples as compared to urine samples as they assist in saving time and maintain dignity, irrespective of the extra costs.
In 2020, North America emerged as the leading region of the global drug-testing market by obtaining the highest revenue share. The region would showcase a similar trend even during the forecast years. Some of the catalysts for the growth of the regional market are the existence of leading market players deploying comprehensive expansion strategies and stringent norms for workplace testing.
Full Report: https://www.kbvresearch.com/drug-testing-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Quest Diagnostics, Incorporated, Abbott Laboratories, F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific, Inc., Siemens AG (Siemens Healthineers), Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., Dragerwerk AG & Co. KGaA, Quidel Corporation, and Omega Laboratories, Inc.
By Drug Type
By Sample Type
By Product Type
By End User
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