21 Sep, 2021, 08:30 ET
NEW YORK, Sept. 21, 2021 /PRNewswire/ -- The drug of abuse testing services market is anticipated to reach USD 4.08 billion by 2028 according to a new study conducted by Polaris Market Research. the market is anticipated to register a CAGR of 5.4% from 2021-2028. A rise in cases of prescription drugs abuse across the globe coupled with an increasing number of drug-related deaths is augmenting the market growth. In addition to this, increasing government awareness programs and enforcement of stringent laws authorizing drug and alcohol testing are further supporting the overall growth of the market. Moreover, various market participants are emphasizing the development of highly advanced and cost-effective drug abuse testing devices to detect drugs, which is creating a positive outlook for the market.
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Key Highlights of Drug of Abuse Testing Services Market
- Based on drug type, the cannabis segment dominated the drug of abuse testing services market and is expected to account for the largest share in the market. This segment's growth is attributed to the rise in cannabis abuse among people across the globe.
- North America region is witnessing a surge in the rate of substance use disorder amid the COVID-19 pandemic. This factor is projected to fuel the demand for drug of abuse testing services in this region.
- Increasing R&D programs complemented by the major technological advancements in drug abuse testing services and the rise in adoption of advanced testing devices, especially in major developing countries, is propelling the market growth.
- A free street drug testing site has started under the Vancouver Island Drug Checking project, initiated by the group of scientists from the University of Victoria. Under this initiative, anonymous drug testing will be provided to anyone who needs it.
North America led the market for drug of abuse testing services and is predicted to continue the same growth to maintain the leading position in the market. This region has experienced a rise in illicit drug users in the region. Governments of leading countries from this region are focusing on the awareness initiatives and also making drug of abuse testing in several places. On the other side, the regional market in the Asia Pacific is expected to garner a high growth rate on account of the increasing prevalence of drug abuse and growing demand for the necessity of drug of abuse testing services in major developing countries such as China and India.
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Key market players are focusing on reforming their business strategies such as acquisitions, joint ventures, mergers, expansion, and product launches. These players are also investing heavily in the R&D programs for bringing advancement in their service offerings. Prominent players present in the drug of abuse testing services market include Quest Diagnostics, United States Drug Testing Laboratories (USDTL), Inc., Abbott Laboratories, Laboratory Corporation of America Holdings, Clinical Reference Laboratory (CRL), Inc., Cordant Health Solutions, DrugScan, Omega Laboratories, Inc., Legacy Medical Services, Psychemedics Corporation, Mayo Clinic Laboratories, Precision Diagnostics, Millennium Health, American Substance Abuse Professionals (ASAP), Inc., and LGC Group.
- Supply Side: Testing Laboratories
- Demand Side: Government Organization, Private Company
- Regulatory Side: World Health Organization
Polaris Market research has segmented the drug of abuse testing services market report on the basis of drug type, end-use, and region:
Drug of Abuse Testing Services, Drug Type Outlook (Revenue – USD Million, 2016 – 2028)
- Amphetamine & Methamphetamine
Drug of Abuse Testing Services, End Use Outlook (Revenue – USD Million, 2016 – 2028)
- Specialty Centers
Drug of Abuse Testing Services, by Regional Outlook (Revenue – USD Million, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
- Saudi Arabia
- South Africa
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About Polaris Market Research
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