Global drug screening market is projected to witness a CAGR of 14.65% during the forecast period 2024–2031, growing from USD 7.02 billion in 2023 to USD 20.96 billion in 2031. Growth in the global drug screening market is driven by various factors, such as increasing alcohol and drug consumption, technological advancements in drug testing products, and increased implementation of strict rules and regulations regarding proper drug screening among the people to maintain discipline and safety measures. Growing investments in research and development activities, presence of several top players, and collaborative ventures, such as mergers and acquisitions, partnerships, distribution agreements, and frequent new product launches, further accelerate the growth of the global drug screening market.
The global drug screening market is experiencing tremendous growth due to various key factors. One of the primary drivers is the increasing global consumption of drugs and alcohol, leading to an increased demand for drug screening services worldwide. Stringent regulations frameworks to enhance drug and alcohol testing are fueling the market’s expansion. Additionally, excessive drug abuse leads to a rising burden of accidents, which has further accelerated the need for developing effective drug screening solutions. Government initiatives and support, such as granting funds, to manage and monitor drug abuse play a pivotal role in propelling market growth. The presence of key market players, along with continuous technological advancements in drug screening products, are enhancing their efficiency and effectiveness, thereby driving demand for more advanced solutions. Moreover, collaboration activities, such as mergers and acquisitions, distribution agreements, and partnerships, further accelerate growth of the global drug screening market.
Get Full Access of Report: https://www.marketsandata.com/industry-reports/drug-screening-market
For instance, in January 2024, OraSure Technologies, Inc., which is a global leader in diagnostics, announced that it has signed a distribution agreement with Sapphiros, which is a Boston-based diagnostics company. Through this strategic partnership, OraSure expects to develop cost-effective diagnostics tests and enhance its product portfolio, as well as expand its business globally.
Increasing Consumption of Psychoactive Substances
The increased consumption of drugs and alcohol is accelerating the drug screening market. Anxiety, stress, depression, isolation, and limited access to social help have contributed to higher drug abuse among the population. Rising cases of drug overdose, which leads to many adverse effects, such as accidents, self-destruction activities, and even death, have surged the need for drug screening services. For instance, according to World Drug Report 2023, the total number of drug users in the year 2021 was estimated to be 296 million. It is also estimated that cannabis is the most widely used drug by the population across the globe. This increasing drug abuse led to the global burden on health and health-care systems, emphasizing the importance of following strict drug screening activities. Additionally, drug screening plays an essential role in minimizing the growing cases of accidents, such as road traffic accidents, which is acting as a major factor flourishing the market growth.
Download Free Sample Report: https://www.marketsandata.com/industry-reports/drug-screening-market/sample-request
Government Initiatives
The government plays a crucial role in managing and controlling the increased prevalence of drug abuse by continuously developing policies and programs to monitor drug abuse cases within the country. The government is involved in promoting research and development activities to develop highly efficient drug abuse detection products and devices. For instance, the National Institute on Drug Abuse, which is a federal agency that works on supporting scientific research on understanding and controlling drug abuse, emphasizes on promoting research and development activities to control global drug abuse. The federal agency brings concerns on various aspects of drug abuse, such as developing drug testing kits that can efficiently and accurately detect alcohol and drug consumption. Due to these frequent governmental support and initiatives, public and private diagnostics companies are excessively involved in developing innovative drug screening products and have increased investment activities, which is further improving the overall global drug screening market.
Increased Demand for Rapid Testing Devices
Among the component segment, rapid testing devices are gaining popularity, due to which this segment is expected to grow at a faster pace in the global drug screening market. These devices are easy to administer, are cost-effective, and give faster results due to which they are excessively used in the market. As the demand is rising, several leading players are launching this product in their product portfolio. For instance, in April 2023, MIP Discovery, which is a pioneer in developing reagents, announced the launch of “Novel nanoMIPTM affinity reagents” using its proprietary nanoMIPTM technology to detect opioid. This reagent is highly sensitive and robust in detecting opioid consumption. These latest launches by key companies in this segment are expected to enhance growth in the global drug screening market.
Growing Demand for Oral Fluid Samples-based Testing Kits
Among the sample type segment, oral fluids, such as saliva-based samples, are expected to show significant growth in the future. There have been increased investments and research and development activities to develop oral fluid sample-based diagnostics kits by several leading players, which is accelerating market growth. For instance, Alfa Scientific Designs Inc., which is a global leader in the development and manufacturing of rapid immunoassay point-of-care tests, states in its latest article that saliva testing has gained tremendous growth over the past few years. Several rapid diagnostic test manufacturers have claimed that saliva samples give faster results compared to other samples. Additionally, saliva samples possess several benefits over other samples as they can be done anywhere, anytime, do not require other tools and appliances for data collection, and do not have any privacy issue. Due to these potential benefits of saliva-based tests, several leading players prefer to invest in developing diagnostics kits that use saliva samples to detect drug abuse, further enhancing their product portfolio and leading to the growth of global drug screening market.
North America Holds the Maximum Share in the Market
North America dominates the global drug screening market due to its robust healthcare system and implementation of strict rules and regulations regarding drug abuse. The availability of technologically advanced drug screening kits and their high efficiency in detecting drug usage further propels the drug screening market in the region. Additionally, the increasing prevalence of drug abuse in the United States is compelling the requirement for efficient drug screening products, thereby significantly impacting the market growth. For instance, according to the U.S. National Center for Drug Abuse Statistics, around 19.4% of U.S population have used illegal drugs at least once in the year 2021. Additionally, The Journal of the American Medical Association report also states that between January 2021 and June 2021, approximately 1,150 youngsters within the age group of 14 to 18 died from drug overdose. Due to this increasing number of people involved in excessive drug and alcohol consumption, there has been a substantial need for drug screening activities to combat the increasing number of drug abuse cases in the region.
Future Market Scenario (2024–2031F)
The global drug screening market is expected to grow in the future, primarily due to increased global consumption of drugs and alcohol, stringent rules and regulations on drug testing, and government initiatives and support to combat drug abuse. Additionally, technological advancements and increased investments by public and private diagnostics manufacturers will lead to the development of more efficient drug screening products, thereby creating lucrative market opportunities. Moreover, favorable regulatory frameworks that help in faster FDA approvals, while maintaining the accuracy and efficacy of the drug testing devices, further accelerate the growth of the global drug screening market.
Report Scope
“Drug screening Market Assessment, Opportunities, and Forecast, 2017–2031F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of the global drug screening market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.
Trending Reports
https://www.marketsandata.com/industry-reports/metastatic-colorectal-cancer-market
https://www.marketsandata.com/industry-reports/intratumoral-cancer-therapies-market