Jan 26, 2018   SOURCE: PR NewsWire

Global Drug Screening Market with Forecasts to 2022 - Growing Drug & Alcohol Consumption is Driving the Projected $8.6 Billion Market

DUBLIN, Jan. 26, 2018 /PRNewswire/ --

The "Drug Screening Market by Product, Drug Screening Services, Sample Type, End User - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.

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The drug screening market is expected to reach USD 8.63 billion million by 2022 from USD 5.32 billion in 2017, at a CAGR of 10.2%.

Growing drug & alcohol consumption, enforcement of stringent laws mandating drug and alcohol testing, and the presence of government funding in major markets are factors driving the growth of the drug screening market. On the other hand, market growth may be limited to a certain extent due to the prohibition of workplace drug testing in some countries and the ban on alcohol consumption in several Islamic countries.

Drug screening market is segmented into products and services. The services segment is projected to register the highest CAGR during the forecast period, growth in this segment is attributed to factors such as the growing drug and alcohol consumption worldwide, funding initiatives for drug testing laboratories, new and regular service launches and regulatory approvals, and the geographic expansion of drug and alcohol testing laboratories.

The drug screening market is segmented into urine, breath, hair, oral, and other samples on the basis of sample type. The urine sample segment is expected to dominate the market during the forecast period due to the benefits it offers such as high accuracy in the detection of multiple drugs, cost-effectiveness, and instant results.

In 2017, North America is expected to account for the largest share of the market followed by Europe. However, Asia is expected to register the highest CAGR during the forecast period. The high growth in this regional segment is attributed to the growing consumption of illicit drugs, rising number of drunk-driving cases, growing awareness regarding drug screening tests and the strategic expansion of the market players in the region.

Market Dynamics

Drivers

    --  Growing Drug & Alcohol Consumption
    --  Enforcement of Stringent Laws Mandating Drug and Alcohol Testing
    --  Presence of Government Funding in Major Markets
    --  Regulatory Approvals & Product Launches and Services

Restraints

    --  Ban on Alcohol Consumption in Several Islamic Countries
    --  Prohibition of Workplace Drug Testing in Some Countries

Opportunities

    --  Oral Fluid Testing
    --  Emergence of Fingerprint-Based Drug Screening
    --  Emerging Economies

Challenges

    --  Accuracy and Specificity Concerns Related to Breathalyzers

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Drug Screening Market, by Product & Service

7 Drug Screening Market, by Sample Type

8 Drug Screening Market, by End User

9 Drug Screening Market, by Region

10 Competitive Landscape

11 Company Profiles

    --  Alere
    --  Alfa Scientific Designs
    --  Drgerwerk
    --  Labcorp
    --  Lifeloc
    --  MPD Inc.
    --  Omega Laboratories
    --  Orasure
    --  Premier Biotech
    --  Psychemedics
    --  Quest Diagnostics
    --  Roche
    --  Shimadzu
    --  Siemens Healthineers
    --  Thermo Fisher Scientific

For more information about this report visit https://www.researchandmarkets.com/research/b5xgw3/global_drug?w=5

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SOURCE Research and Markets