Drugs of Abuse Testing Market size to Grow at a CAGR of 5.25% | Technavio

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NEW YORK , May 23, 2022 /PRNewswire/ -- Technavio categorizes the drugs of abuse testing market as a part of the global life science tools and services market. The drugs of abuse testing market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches.

Technavio has announced its latest market research report titled Drugs of Abuse Testing Market by Product and Geography - Forecast and Analysis 2022-2026
Technavio has announced its latest market research report titled Drugs of Abuse Testing Market by Product and Geography - Forecast and Analysis 2022-2026

Drugs of Abuse Testing Market: Key Drivers

The increase in strategic developments is driving the drugs of abuse testing market A few of the strategies adopted include the launch of new products, partnerships, expansion projects, product approvals, joint ventures, acquisitions, collaborations, and investments. For instance, Laboratory Corp. of America Holdings (LabCorp) and the Recovery Platform jointly offer access to medication-assisted opioid treatment on a national basis in the US. The Recovery Platform has been designed to help primary care physicians address and manage the recovery of patients suffering from opioid-use disorders in a compliant and efficient manner.

View market report outlook to learn more about factors influencing the market.

Drugs of Abuse Testing Market: Key Trends

The increased adoption of information management solutions is expected to positively impact the drugs of abuse testing market in the forecast period. The LIMS software systems provide savings on additional costs by eliminating the need for paper records as a single LIMS software manages the functioning of the entire drug abuse testing laboratory. Vendors such as Analytical 360, Cannalysis, and CannaSafe Analytics offer LIMS software programs of their own, which assist drug abuse testing laboratories in carrying out the analysis efficiently besides offering great cost savings.

Vendor Insights

The report identifies the following as the dominant vendors in the market:

  • Abbott Laboratories

  • Bio Rad Laboratories Inc.

  • CareHealth America Corp.

  • Clinical Reference Laboratory Inc.

  • Cordant Health Solutions

  • Danaher Corp.

  • Dragerwerk AG and Co. KGaA

  • F. Hoffmann La Roche Ltd.

  • Laboratory Corp. of America Holdings

  • Omega Laboratories Inc.

  • Ortho-Clinical Diagnostics Inc.

  • Precision Diagnostics

  • Psychemedics

  • Quest Diagnostics Inc.

  • Randox Laboratories Ltd.

  • Shimadzu Corp.

  • Siemens Healthineers AG

  • Thermo Fisher Scientific Inc.

  • Merck KGaA

  • SureHire Inc.

Product Insights and News

The drugs of abuse testing market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. For instance, Abbott Laboratories offers the iScreen Drugs of Abuse Test Card, which rapidly screens for a broad range of illicit and prescription drugs. The company also offers to manufacture branded generic pharmaceuticals for established and emerging markets.

Learn more about the vendors in the market as you download your sample copy

North America's Contribution to Drugs of Abuse Testing Market

The increase in the demand for drug abuse testing due to the rise in cases of drug abuse is expected to facilitate the drugs of abuse testing market growth in North America over the forecast period. North America is expected to contribute to 37% of market growth as countries such as the US and Canada are the key markets for drug abuse testing. Market growth in the region is expected to be higher than the growth of the drugs of abuse testing market in the Rest of the World (ROW).

Download your sample copy and know more about the market contribution in North America

Drugs of Abuse Testing Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 5.25%

Market growth 2022-2026

$ 1.24 billion

Market structure

Fragmented

YoY growth (%)

5.15

Regional analysis

North America, Europe, Asia, and Rest of World (ROW)

Performing market contribution

North America at 37%

Key consumer countries

US, Canada, Denmark, China, and India

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Abbott Laboratories, Bio Rad Laboratories Inc., CareHealth America Corp., Clinical Reference Laboratory Inc., Cordant Health Solutions, Danaher Corp., Dragerwerk AG and Co. KGaA, F. Hoffmann La Roche Ltd., Laboratory Corp. of America Holdings, Omega Laboratories Inc., Ortho-Clinical Diagnostics Inc., Precision Diagnostics, Psychemedics, Quest Diagnostics Inc., Randox Laboratories Ltd., Shimadzu Corp., Siemens Healthineers AG, Thermo Fisher Scientific Inc., Merck KGaA, and SureHire Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Get your report sample copy to unlock scope and parent market analysis insights

Market Segmentation

The drugs of abuse testing market is segmented by product into instruments segment and consumables segment. The instruments segment is expected to be the major contributor to the market. The growth can be attributed to the availability of a broad range of advanced instruments coupled with continuous innovations increasing the overall efficiency of the drugs of abuse testing process.

Key Highlights

  • CAGR of the market during the forecast period 2022-2026

  • Accurate predictions on upcoming trends and changes in consumer behavior

  • Detailed information on factors that will drive drugs of abuse testing market growth during the next five years

  • A thorough analysis of the market's competitive landscape and detailed information on vendors

  • Comprehensive details of factors that will challenge the growth of drugs of abuse testing market vendors

  • Precise estimation of the drugs of abuse testing market size and its contribution to the parent market

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Table of Contents

1 Executive Summary

  • 1.1 Market overview

2 Market Landscape

  • 2.1 Market ecosystem

3 Market Sizing

  • 3.1 Market definition

  • 3.2 Market segment analysis

  • 3.3 Market size 2021

  • 3.4 Market outlook: Forecast for 2021-2026

4 Five Forces Analysis

  • 4.1 Five forces summary

  • 4.2 Bargaining power of buyers

  • 4.3 Bargaining power of suppliers

  • 4.4 Threat of new entrants

  • 4.5 Threat of substitutes

  • 4.6 Threat of rivalry

  • 4.7 Market condition

5 Market Segmentation by Product

  • 5.1 Market segments

  • 5.2 Comparison by Product

  • 5.3 Instruments - Market size and forecast 2021-2026

  • 5.4 Consumables - Market size and forecast 2021-2026

  • 5.5 Market opportunity by Product

6 Customer Landscape

  • 6.1 Customer landscape overview

7 Geographic Landscape

  • 7.1 Geographic segmentation

  • 7.2 Geographic comparison

  • 7.3 North America - Market size and forecast 2021-2026

  • 7.4 Europe - Market size and forecast 2021-2026

  • 7.5 Asia - Market size and forecast 2021-2026

  • 7.6 Rest of World (ROW) - Market size and forecast 2021-2026

  • 7.7 US - Market size and forecast 2021-2026

  • 7.8 Denmark - Market size and forecast 2021-2026

  • 7.9 China - Market size and forecast 2021-2026

  • 7.10 Canada - Market size and forecast 2021-2026

  • 7.11 India - Market size and forecast 2021-2026

  • 7.12 Market opportunity by geography

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers

  • 8.2 Market challenges

  • 8.3 Impact of drivers and challenges

  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview

  • 9.2 Vendor landscape

  • 9.3 Landscape disruption

  • 9.4 Industry risks

10 Vendor Analysis

  • 10.1 Vendors covered

  • 10.2 Market positioning of vendors

  • 10.3 Abbott Laboratories

  • 10.4 Bio Rad Laboratories Inc.

  • 10.5 Danaher Corp.

  • 10.6 F. Hoffmann La Roche Ltd.

  • 10.7 Laboratory Corp. of America Holdings

  • 10.8 Merck KGaA

  • 10.9 Ortho-Clinical Diagnostics Inc.

  • 10.10 Quest Diagnostics Inc.

  • 10.11 Siemens Healthineers AG

  • 10.12 Thermo Fisher Scientific Inc.

11 Appendix

  • 11.1 Scope of the report

  • 11.2 Inclusions and exclusions checklist

  • 11.3 Currency conversion rates for US$

  • 11.4 Research methodology

  • 11.5 List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library and its client base consist of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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