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Global Drug Screening Laboratory Services Market to Gain Impetus Rising at 9.40% CAGR between 2020 and 2027

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Global Drug Screening Laboratory Services Market to Gain Impetus Rising at 9.40% CAGR between 2020 and 2027

October 26
20:53 2020
Global Drug Screening Laboratory Services Market to Gain Impetus Rising at 9.40% CAGR between 2020 and 2027
GLOBAL DRUG SCREENING LABORATORY SERVICES MARKET SIZE STUDY, BY SERVICE TYPE (WORKPLACE DRUG TESTING, CLINICAL TOXICOLOGY), BY SAMPLE TYPE (URINE SAMPLE, ORAL FLUID SAMPLE, HAIR SAMPLE, OTHERS), BY END-USER (HOSPITAL LABORATORIES, CLINICAL LABORATORIES, OTHERS) AND REGIONAL FORECASTS 2020-2027

Report Ocean has recently published a research study on the global drug screening laboratory services market. The report, titled “Global Drug Screening Laboratory Services Market Size study, by Service Type (Workplace Drug Testing, Clinical Toxicology), by Sample Type (Urine Sample, Oral Fluid Sample, Hair Sample, Others), by End User (Hospital Laboratories, Clinical Laboratories, Others) and Regional Forecasts 2020-2027,” offers a detailed assessment of this market, including individual analyses of each of its segments.

 GET SAMPLE COPY @ https://www.reportocean.com/industry-verticals/sample-request?report_id=bw1494

According to the research study, the global drug screening laboratory services market stood at US$6.7 bn in 2019 and is anticipated to rise at a CAGR of more than 9.4% over the period of 2020-2027.

The increasing consumption of drugs and alcohol among young adults has concerned authorities across various economies. As per the World Drug Report, published by United Nations Office on Drugs and Crime (UNODC), approximately 35 million people were suffering from drug use disorders in 2019, globally, while only 1 in 7 people could receive proper diagnosis and treatment. Governments have implemented strict regulations to keep drug and alcohol consumption in check, among which drugs and screening laboratory services take the front seat. On the flip side, the ban on the testing of drugs at the workplace in some countries and the lesser demand across underdeveloped economies may act as a restraint for the growth of the global drug screening laboratory services market over the forecast period, reports the research study.

North America to Retain Leadership

In terms of the region, the worldwide market for drug screening laboratory services is considered to have a presence across Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading the worldwide market due to the rise in the consumption of alcohol and banned drugs at the workplace. The increase in the government funding for drug testing and the existence of a large pool of market players in the region are likely to support North America in retaining its position in this market during the forecast period.

Europe, among the regional markets for drug screening laboratory services, is reporting a higher growth rate at present and is projected to continue doing so over the forecast period. Factors, such as, increasing drug abuse and drug addiction among the young generation and the rising count of healthcare reforms, are expected to create lucrative opportunities for the Europe drug screening laboratory services market over the next few year, states the report study.

Impact of Covid 19 on Global Drug Screening Laboratory Services Market

The Coronavirus pandemic has shifted everyone’s focus towards Covid 19 and pushed other things in the corner. The global drug screening laboratory services market is also affected by the emergence of this virus. The investments in research for the development of these services have now found their route towards research for Covid Vaccines and treatments. Researchers expect this scenario to remain so over the next few months.

Key Findings:

  • North America is the leading the worldwide market due to the rise in the consumption of alcohol and banned drugs at the workplace.
  • The Europe drug screening laboratory services market is reporting a higher growth rate at present and is projected to continue doing so over the forecast period.

The global drug screening laboratory services is segmented into:

By Service Type

  • Workplace Drug Testing
  • Clinical Toxicology

By Sample Type

  • Urine Sample
  • Oral Fluid Sample
  • Hair Sample
  • Others

By End User

  • Hospital Laboratories
  • Clinical Laboratories
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Rest of the World

Companies Mentioned in the Report

  • Abbott Laboratories
  • Quest Diagnostics Inc.
  • Clinical Reference Laboratory Inc.
  • Laboratory Corporation of America Holdings
  • Sterling Healthcare Opco LLC
  • Cordant Health Solutions
  • ACM Global Laboratories Inc.
  • Omega Laboratories
  • Millennium Health LLC
  • Mayo Foundation

READ FULL REPORT @ https://www.reportocean.com/industry-verticals/sample-request?report_id=bw1494

Media Contact
Company Name: Report Ocean
Contact Person: Nishi Sharma
Email: Send Email
Phone: +91-9997112116
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City: Ghaziabad
State: UP, 201017
Country: India
Website: www.reportocean.com

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