What This Report Will Provide?

Healthcare infrastructural development is a key issue in most developed and developing countries. Increased investments in healthcare infrastructure also have a positive impact on the medical beds market. Increased investments lead to increased costs allocated for medical beds, which is an important factor driving market growth.

Expected Revenue Growth:[192 Pages Report]

The global drug screening market is projected to reach USD 10.0 billion by 2025, from USD 4.5 billion in 2020, at a CAGR of 17.3%.

Major Growth Boosters:

Growth in this market is attributed to the rising drug & alcohol consumption, the enforcement of stringent laws mandating drug and alcohol testing, government funding in major markets, and regulatory approvals and product and service launches. On the other hand, bans on alcohol consumption in Islamic countries and the prohibition of drug testing at workplaces in certain regions are some major factors that may hinder the market growth

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Recent Developments :

• In 2020, LabCorp Entered into a multi-year agreement with Infirmary Health (US) to offer laboratory testg services in the eastern Gulf Coast.
• In 2020, Psychemedics introduced a vaping panel test that detects the ingestion of marijuana, CBD, and nicotine drugs by all methods, including electronic cigarettes or smoking
• In 2019, Quest Diagnostics acquired some assets of the clinical laboratory services business of Boston Clinical Laboratories. This allowed BCL’s patients and providers to access Quest services.
• In 2017, Alfa Scientific Designs introduced a new product line, Instant-view-PLUS.

COVID-19 impact on the drug screening market

COVID-19 has resulted in significant disruptions to businesses and economic activities globally and is expected to have a short-term negative impact on the drug screening market due to limited or non-availability of medical facilities/treatment centers, harm reduction service providers, and the fear of infection transmission. To reduce the strain on the healthcare system and decrease disease transmission, various governments worldwide provided guidelines to postpone or delay non-essential medical and surgical procedures. Restrictions and lockdowns were also imposed in travel, business operations, public gatherings, and shelter-in-place orders, all of which have further impacted market growth.

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Growing drug and alcohol consumption

Drug abuse and alcohol consumption are increasing across the globe. According to the World Drug Report 2019, in 2017, about 5.5% of the global population aged 15–64 consumed drugs at least once. In 2017, 35 million people had substance use disorders, a 14.8% increase from 30.5 million in 2016. In the same year, 585,000 people died as a result of drug use. The extent of harm caused by drugs is equal to losing 28 million years of “healthy” life (disability-adjusted life years or DALYs) globally. Alcohol consumption has shown similar increases, with consequences witnessed in the rising incidence of impaired driving.

Regional Growth Analysis:

The drug screening market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World. In 2019, North America was the largest regional segment of the overall market, followed by Europe. The dominance of the North American market is attributed to factors such as rising consumption of illicit drugs, availability of government funding to curb drug abuse, and the presence of laws supporting drug screening, and growing burden of accidents due to unsafe levels of alcohol consumption.