DUBLIN–(BUSINESS WIRE)–The “Drug Screening Global Market Report 2024” report has been added to ResearchAndMarkets.com’s offering.
The global drug screening market is witnessing a substantial growth period and is projected to continue on this trajectory through to the year 2028. The latest comprehensive Drug Screening Global Market Report 2024 now available for consideration, offers an extensive exploration of the various factors propelling the market forward, including the increasing incidence of drug and alcohol addiction and the rising demand for substance abuse treatment.
The report details significant developments within the drug screening industry such as the growing market size, which was valued at $7.65 billion in 2023 and is expected to surge to $15.04 billion by 2028, growing at a CAGR of 14.4%. A pivotal element in this growth has been the consistent rise in the use and misuse of prescription drugs, as well as illegal substances.
Major Shifts Shaping the Drug Screening Landscape
- The report outlines the escalation of drug and alcohol consumption, particularly during the ongoing pandemic, which has notably influenced the need for robust drug screening apparatus. Specifically, the year over year increase in substance use among Americans 12 years and above has been a clarion call for more comprehensive screening measures in varying contexts.
- Technological evolution has been marked as a primary driver for market growth, with the development of swift, efficient, and innovative drug testing equipment. The advancements in artificial intelligence for enhanced screening accuracy exemplify the fusion of technology and healthcare expertise.
- Strategic collaborations and acquisitions between companies are spotlighted, painting a picture of a market characterized by synchronized efforts toward enhancing drug screening capabilities. Partnerships like that of PhoreMost Ltd. and ThinkCyte K.K. are leveraging AI to advance the scope of phenotypic drug screening, strengthening the veracity of substance detection.
The report emphasizes meaningful implications for the drug screening market across geographic regions, highlighting North America as the largest region in the domain, with Asia-Pacific identified as the fastest-growing market throughout the forecast period. This underscores a dynamic expansion of drug screening demands and solutions across different continents.
Rigorous Change Across Diverse Sectors Aiding Drug Screening Growth
In the mix of contributing sectors—from workplaces to criminal justice systems and healthcare—the drug screening market findings depict a multidimensional approach to addressing the escalating concerns of substance misuse. Corporate wellness, evolving drug policies, and regulatory frameworks across the globe are anticipated to consistently mold market dynamics.
The recent publication is a resourceful document for stakeholders within the drug screening industry, policymakers, research scientists, and public health officials. It presents an unparalleled assessment of current trends and future market projections necessary for informed decision-making processes.
As drug screening continues to be an indispensable facet of public health measures, workplace policies, and legal regulations, the global market is set to tackle the burgeoning demand with innovative solutions and strategic partnerships. The detailed analysis and anticipation of future trends in the Drug Screening Global Market Report 2024 are pivotal for all industry partakers who are aiming to adapt and thrive in an ever-evolving landscape.
A selection of companies mentioned in this report includes
- Laboratory Corporation
- Quest Diagnostics Incorporated
- Alere Inc.
- OraSure Technologies Inc.
- Alfa Scientific Designs Inc.
- Abbott Laboratories
- Thermo Fisher Scientific Inc.
- Drägerwerk AG & Co. KGaA
- LifeLoc Technologies Inc.
- MPD Inc.
- Omega Laboratories Inc.
- Premier Biotech Inc.
- Psychemedics Corporation
- F. Hoffmann-La Roche Ltd.
- Shimadzu Corporation
- Siemens Healthineers AG
- Medtox Scientific Inc.
- American Screening Corporation
- Clinical Reference Laboratory Inc.
- Express Diagnostics International Inc.
- Global Drug Testing Services
- Kroll Laboratory Specialists Inc.
- LabOne Inc.
- Medscreen Laboratories
- National Screening Centers Inc.
- American Bio Medica Corporation
- Mayo Clinic Laboratories
- ACM Global Laboratories
- Intertek Group plc
Eurofins Scientific SE
For more information about this report visit https://www.researchandmarkets.com/r/xmli7h
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900