As per the Future Market Insights research, the drug screening market is forecasted to advance at a tremendous pace with a CAGR of 16% during the forecast period 2022-2032.
A crucial driver of the drug screening market is the overuse of prescribed drugs and the elevated use of narcotics. According to one of the recent World Drug Reports, drug and alcohol abuse and consumption are on the rise globally.
Drug abuse killed nearly 500,000 people, while drug use disorders resulted in the loss of 18 million years of a healthy life, primarily due to opioids. Similar increases in alcohol consumption have been observed, with the consequences being an increase in the incidence of impaired driving.
The rising consumption of illicit drugs and alcohol will accelerate the development of drug screening products and services on the road, fuelling the drug screening market growth.
Some countries, including South Africa, Colombia, Chile, Argentina, and Canada, consider workplace drug and alcohol testing to violate employee privacy. Such prohibitions in various countries may impede the adoption of drug screening devices etc., thereby limiting the overall market growth.
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Several new products, devices, and services have also received regulatory approval and are being adopted by government agencies and corporate organizations and are expected to broaden drug screening market opportunities.
Companies in this market are expected to gain new opportunities as their business strategies shift toward oral swab drug tests and the development of the concept of fingerprint-based drug screening, thereby driving the demand for drug screening devices etc.,
Furthermore, New Psychoactive Substances (NPS) such as tryptamines, ketamine, piperazine, and phenethylamines can be considered emerging trends in the drug screening market. Owing to its low cost and dependability, urine samples are the most commonly used for testing, ramping up urine drug tests.
Influenced by factors as mentioned earlier and developments, the drug screening market is forecasted to touch US$ 11 Bn by 2026.
Key Takeaways:
- By product type, the consumables segment is likely to dominate the market since they provide improved solutions to make testing accurate and quick, accelerating market growth.
- As it is a quicker and less invasive sample to collect at the roadside, the oral fluid sample segment is expected to account for a significant drug screening market share by sample type.
- By drug type, the cannabis/marijuana segment is forecasted to hold sway over the drug testing industry since marijuana or cannabis is the most commonly used illicit substance in critical markets.
- Drug testing laboratories are predicted to be at the forefront of the market by end-use, owing to their widespread acceptance and accurate result.
- The drug screening market size accounted for around US$ 5.3 Bn in 2021.
Competitive Landscape:
Some of the notable players in the drug screening market are Premier Biotech (US), Abbott Laboratories (US), Alfa Scientific Designs (US), OraSure Technologies (US), Shimadzu (Japan), Drägerwerk (Germany), LifeLock (US), Thermo Fisher Scientific (US), MPD Inc. (US), Omega Laboratories (US), Psychemedics (US), Roche (Switzerland), and Siemens Healthineers (Germany), Quest Diagnostics (US).
To capture larger market shares, key companies are pursuing various growth strategies such as mergers and acquisitions, geographic expansion, product invention leading to some significant recent developments in the drug screening market.
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