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Drug Screening Market Projected to Reach Valuation of USD 13.56 Billion by 2027

By Biswas Debanjan·Published October 20, 2021·HealthTech, Press Release

Press release Supplied by the company. Not written by TechBullion's editorial team.

Drug Screening
Drug Screening

Increasing incidences of drug abuse and stringent regulations regarding drug tests are factors expected to drive the global drug screening market growth.

The global drug screening market is expected to be valued at USD 13.56 Billion in 2027 from USD 3.83 Billion in 2019, registering a CAGR of 17.1% through the forecast period. Drug screening, also known as a drug test, identifies potential drugs prior to clinical trials for drug candidate selection. It typically involves the screening of large groups of chemicals indicated for a specific biological activity in high-throughput screening assays. It also involves the technical analysis of a biological specimen, such as hair, breath, urine, blood, sweat, or oral fluid/saliva, to accurately determine the absence or presence of the specified parent drugs.

Revenue from the global drug screening market is projected to register a substantially high growth rate over the forecast years. The increasing implementation of drug screening across hospitals, clinics, drug testing laboratories, workplaces, and research institutes is a key parameter contributing to the growth of this market. At various workplaces, these tests are carried out as pre-employment testing for individuals and employees. A significant rise in alcohol and illegal drug consumption, the augmenting number of accidents due to high alcohol consumption, and stringent laws regarding drug screening practices in developed and developing countries are the pivotal factors triggering the global market growth.

Moreover, technological advancements in drug screening techniques, rising demand for drug screening devices worldwide, and increased government focus on accelerating the development of various drug screening programs are the other factors projected to promote the market growth significantly in the near future. However, strict restrictions on illegal drug use and alcohol consumption in several countries across the world restrain the global drug screening market growth to a major extent.

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Key Highlights of the Report:

For this report, Emergen Research has segmented the global drug screening market on the basis of product and service, sample type, end-user, and region:

By Product and Service (Revenue, USD Billion; 2017–2027)

By Sample Type (Revenue, USD Billion; 2017–2027)

By End-user (Revenue, USD Billion; 2017–2027)

By Region (Revenue, USD Billion; 2017–2027)

To get leading market solutions, visit the link below: https://www.emergenresearch.com/industry-report/drug-screening-market

Company-submitted announcement. Visit their site for details.