Global Drug Screening Market Growth By Top Leading Players | Orasure Technologies, Quidel, Thermo Fisher, DrugScan, Inc.
Drug screening is majorly used at workplaces for testing employees, in the criminal justice system, pain management clinics, Federal drug testing programs and in hospitals. Global Drug Screening Market is estimated at $4.8 Bn (2020) growing at a CAGR of 15.8% through 2020-2025. Growing drug usage after the COVID-19 pandemic and an increase in the abuse of illicit drugs like cannabis are the main factors driving the drug screening market growth.
COVID-19 pandemic led to increase in drug abuse In the wake of the COVID-19 crisis, more than 100 million people lost their jobs. Globally, there is an increase in mental health issues. This may have led to an increase in drug abuse. In parallel, drug traffickers have quickly recovered from initial setbacks caused by lockdown restrictions, driven in part by a rise in the use of technology (drug traffickers using online platforms etc.) and cryptocurrency payments that are operating outside the regular financial system. The demand for drug screening services/products is projected to rise as a result of these factors. “The pandemic fueled discussions about substance use disorders (SUDs), as drug and alcohol use along with the associated deaths from their overdoses increased. Confusion, loneliness, and unemployment caused more people to either start/increase drugs and alcohol consumption, when many treatment centers and support groups were unavailable during the pandemic” – CEO, Leading Drug and Alcohol Screening Laboratory
Explore Premium Report on Drug Screening Market @ https://meditechinsights.com/global-drug-screening-market/ The U.S. witnessed a 30% increase in deaths related to drug overdose in 2020 During the COVID-19 pandemic, the U.S. witnessed a worse substance abuse crisis. During the pandemic, more than one in ten adults started or increased their alcohol or drug usage. Drug overdose-related deaths increased as a result of this. According to CDC statistics, deaths due to drug overdose (primarily driven by opioids) recorded 30% increase in 2020 and reached over 93,000 from about 72,000 deaths in 2019. The need for drug screening in the US has significantly increased as a result. Regional Adoption: Drug Screening Market Comprehensive regional assessment of the global drug screening market suggests that U.S. is presently the largest market for drug screening. The major reason being - drug screening is mandatory/legal for all private or public employees in the U.S. The employers are allowed to perform random tests for their existing employees as well as pre-employment test in case of hiring new employees. Pre-employment or random screening, however, is banned in several European countries. The unfavorable regulations have been the major obstacle for growth in the European drug screening market. Competitive Landscape Analysis of Drug Screening Market Some of the key players in global drug screening market are Quest Diagnostics, Abbott, LabCorp, Clinical Reference Laboratory, Inc., Orasure Technologies, Quidel, Thermo Fisher, DrugScan, Inc., Lion Laboratories, Drägerwerk, and Intoximeters.
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