Growing global incidence of substance abuse, increasing cases of prescription diversion, and stringent laws mandating drug screening tests are key factors driving market growth Market Size – USD 1.25 Billion in 2020, Market Growth – at a CAGR of 6.6%, Market Trends – Increasing adoption of urine drug testing at workplaces The global specimen validity testing market size is expected to reach USD 2.10 Billion by 2028 at a CAGR of 6.6%, according to the latest report by Reports and Data.
Clinicians generally order SVT to make informed therapeutic decisions about medical conditions of their patients, which also includes therapeutic overuse and illicit drug abuse.
Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/4098Some Key Highlights From the Report:Reagents, calibrators, and controls segment is expected to account for largest revenue share among the products segment.
Growth can be attributed to increasing demand and repeated purchase of reagents due to rising number of specimens being tested in drug screening laboratories.Laboratory testing segment is expected to register robust revenue CAGR over the forecast period owing to increasing drug testing in established healthcare facilities, rising cases of drug abuse, and implementation of standardized specimen validity testing protocols in laboratories.Workplace segment is expected to register significant revenue growth over the forecast period owing to rising incidence of drug abuse at workplaces and increasing number of offices and organizations mandating workplace drug screening.North America is expected to account for largest revenue share between 2021 and 2028, attributable to growing use of illicit drugs, increasing incidence of prescription diversion, and presence of stringent laws mandating drug screening in countries in the region.
The key companies profiled in the market are: Thermo Fisher Scientific, Inc., Sciteck, American Bio Medica Corporation, Alere, Express Diagnostics, Premier Biotech, LabCorp., Quest Diagnostics, Alere Toxicology, ACM Global Laboratories, Clinical Reference Laboratory (CRL), SureHire, and CannAmm.For the purpose of this report, Reports and Data has segmented the global specimen validity testing market based on product & services, type, end-use, and region: Product & Services Outlook (Revenue, USD Billion; 2018-2028)ProductsReagents, Calibrators, & ControlsAssay KitsDisposableServicesType Outlook (Revenue, USD Billion; 2018-2028)Laboratory TestingRapid/POC TestingEnd-use Outlook (Revenue, USD Billion; 2018-2028) WorkplacesDrug Screening LaboratoriesLaw Enforcement AgenciesPain Management CentresDrug Rehabilitation CentresOthers Browse Complete Report “Specimen Validity Testing Market” @ https://www.reportsanddata.com/report-detail/specimen-validity-testing-marketThe report further segments the market on the basis of key regions of the world and offers an assessment of the production and manufacturing capacity, import and export, production and consumption patterns, supply and demand ratio, and the presence of key players in each region.
In-depth regional analysis covers: North AmericaU.S.CanadaMexicoEuropeGermanyU.K.FranceBENELUXRest of EuropeAsia PacificChinaJapanSouth KoreaRest of APACLatin AmericaBrazilRest of LATAMMiddle East & AfricaSaudi ArabiaA.E.Rest of MEAThe report includes primary and subjective research with a comprehensive study examined and validated by industry professionals and experts.