According to FutureWise analysis the market for drug screening in 2023 is US$ 7.3 billion, and is expected to reach US$ 24.43 billion by 2031 at a CAGR of 16.30%.
Drug screening involves examining individuals for drug usage even if they don't necessarily exhibit any signs of drunkenness or a substance use disorder. It could be carried out methodically or at random in certain demographics, including those of students, athletes, and convicts. In the process of drug screening a sample of urine, blood, breath, saliva, sweat, or hair may be tested. Urine testing is the most commonly used method because it is non-invasive, quick, and capable of detecting a wide range of drugs. It can detect drugs used within 1 to 4 days, or even longer depending on the drug. Blood testing is rarely used because it is invasive and can only detect drugs a few hours after they have been used. Hair testing is less common, but it can detect some drugs if they were used within the previous 100 days.
Government agencies' strict regulations requiring alcohol and drug screening for safety reasons as well as rising efforts to track and combat substance usage are expected to boost the market growth. Also, the prevalence of substance misuse is rising globally, which has increased the necessity for screening and fuelled the demand for drug screening. Furthermore, the COVID-19 pandemic's consequences on job losses, business closures, and the economy have had a detrimental impact on people's mental health and raised rates of substance abuse. According to CDC, 13.3% of Americans started or increased substance addiction to deal with COVID-19-related anxiety or feelings, which led to a significant increase in the need for drug screening.
FutureWise Market Research has published a report that provides an insightful analysis of drug screening market trends that are affecting the overall market growth. This report will provide a detailed analysis of market share, regional insights, and competitor analysis that includes stature of key manufacturers operational in this industry.
According to the analysis conducted by FutureWise research analysts, the drug screening market is estimated to register a considerable growth rate over the forecast period. This report lists the market segments and potential prospects available across this industry, in addition providing crucial information on the total valuation currently held by the industry. Moreover, this report will assist key management individuals in an organisation to enhance their decisions pertaining to business expansion as well as strategic changes for increasing customer base.