Drug Screening Laboratory Services Market Size to Garner $7.05 Billion at 9.4% CAGR Globally by 2027

19 Aug 2021
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Vaccine
Stringent government regulation regarding drug abuse, rise in awareness against drug abuse, and surge in funding for drug screening have boosted the growth of the global drug screening laboratory services market "Drug Screening Laboratory Services Market by Service type, (Workplace Drug Testing and Clinical Toxicology Testing), Sample Type (Urine, Oral Fluid, Hair and Others), End User (Retail, Oil & Gas, Transportation, Staffing, Government, Other Workplace, Hospital Laboratories, Clinical Laboratories, and Other Laboratories): Global Opportunity Analysis and Industry Forecast, 2020-2027 by Service type, (Workplace Drug Testing and Clinical Toxicology Testing), Sample Type (Urine, Oral Fluid, Hair and Others), End User (Retail, Oil & Gas, Transportation, Staffing, Government, Other Workplace, Hospital Laboratories, Clinical Laboratories, and Other Laboratories): Global Opportunity Analysis and Industry Forecast, 2020-2027". According to the report, the global drug screening laboratory services industry accounted for $6.72 billion in 2019, and is expected to reach $7.05 billion by 2027, growing at a CAGR of 9.4% from 2020 to 2027. Request for Sample Report for More Insights@ Stringent government regulation regarding drug abuse, rise in awareness against drug abuse, and surge in funding for drug screening have boosted the growth of the global drug screening laboratory services market. However, consideration of drug screening as a violation of rights hampers the market growth. On the contrary, development of novel drug screening tests and potential in emerging markets are expected to create lucrative opportunities for the market players in the coming years. Covid-19 scenario:- During the pandemic, incidences of substance abuse have increased as people are experiencing stress, anxiety, and fear. Thus, the demand for drug screening tests has increased. However, disrupted supply chain and lack of healthcare professionals have negatively affected the drug screening processes. The urine sample type segment dominated the market:- By sample type, the urine held the largest share in 2019, accounting for more than 90% of the global drug screening laboratory services market, owing to rise in adoption of point of care drug screening, rapid & easy drug screening, and detection multiple drug abuse cases in one test. However, the hair segment is expected to register the highest CAGR of 14.2% during the forecast period, owing to benefits such as non-invasive nature, low risk of sample tampering, and longer window of detection. The retail segment to manifest the highest CAGR through 2027:- By end user, the retail segment is expected to portray the highest CAGR of 13.1% during the forecast period. Moreover, the segment held the lion's share in 2019, accounting for nearly one-fifth of the global drug screening laboratory services market, owing to increase in incidence of drug abuse in the retail industry. North America dominated the market:- By region, the global drug screening laboratory services market across North America held the largest share in 2019, contributing to three-fourths of the market. Moreover, the region is expected to manifest the highest CAGR of 11.3% during the forecast period, due to rise in use of alcohol and illicit drugs at workplaces, higher adoption of drug screening products, and rise in government funding for drug testing. The report includes an in-depth analysis of the market across Europe, Asia-Pacific, and LAMEA. Major market players:- Abbott Laboratories (Alere Inc.) Clinical Reference Laboratory, Inc Quest Diagnostics Incorporated. Sterling Healthcare Opco, Llc. Laboratory Corporation of America Holdings Acm Global Laboratories, Inc Cordant Health Solutions Psychemedics Omega Laboratories Mayo Foundation For Medical Education and Research Millennium Health Precision Diagnostics Similar Reports: Dendritic Cell Cancer Vaccines Market - Global Opportunity Analysis and Industry Forecast, 2019-2028 Automated External Defibrillators Market - Global Opportunity Analysis and Industry Forecast, 2019-2028 About Us: Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. 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