Current Research: Specimen Validity Testing Market Covid19 Impact Analysis | Business Outlook, Growth, Revenue, Trends and Forecasts 2023
The study’s baseline year is 2017, and the forecast period is from 2018 to 2023.
[A 121-page report] The specimen validity testing market was valued USD 1.04 billion in 2017 and is expected to reach USD 1.49 billion by 2023, growing at a CAGR of 6.3 percent.
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In this study, the global market is split by product and service, type, end user, and geography.
There are two types of products on the market: things and services. The services sector is likely to grow at the fastest rate throughout the forecast period. The implementation of workplace drug testing in many countries, the increase in the number of drug screening tests, and the growing number of drug screening laboratories around the world are all contributing to the rapid growth of this market.
Reagents, calibrators, and controls, assay kits, and disposables are the three categories that make up the market. The reagents, calibrators, and controls sector is expected to account for the largest proportion of the market in 2018 due to frequent purchases of these items.
The two forms of testing accessible on the global market are laboratory testing and rapid/POC testing. In 2018, laboratory testing is expected to account for the bulk of market share. During the projected period, however, the rapid/POC testing category is expected to grow the most. The rapid growth of the rapid/POC testing segment can be attributed to benefits such as quick results, the ability to identify many substances at once, and the recurring and repetitive use of rapid/POC drug testing kits.
End users in the market include workplaces, drug screening laboratories, criminal justice and law enforcement agencies, pain management institutions, drug rehabilitation centres, and others. In 2018, the workplaces sector is expected to have the largest market share. The rise of this category can be attributed to the rising incidence of substance abuse in the workplace, as well as the growing number of organisations that have made regular drug testing mandatory.
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The specimen validity testing market is marked by the presence of several big and small players. Prominent players offering specimen validity testing products include Thermo Fisher (US), Sciteck. (US), American Bio Medica Corporation (ABMC), Alere (US), Express Diagnostics (US), and Premier Biotech (US). While, LabCorp (US), Quest Diagnostics (US), Alere Toxicology (US), ACM Global Laboratories (US), Clinical Reference Laboratory (CRL) (US), SureHire (Canada), and CannAmm (Canada) are some of the leading service providers.
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