The global drug screening market was valued at $5,214 million in 2016, and is projected to reach $9,447 million by 2023, growing at a CAGR of 8.7% from 2017 to 2023. North America held the largest market share with more than fifty percent share in 2016.
Major factors driving the drug screening market are increase in drug consumption among youth, upsurge in consumption of alcohol and misuse of prescribed or illicit drugs by individuals. In addition, rise in awareness among the population in developing countries regarding adverse effects of drugs will help to boost the market growth. Further, governments of many developed and developing nations are raising funds to deal with increasing drug abuse and illegal drug trafficking, which will help to fuel the market growth.
Major Key Players: –
The major companies in drug screening market include Alere, Inc., Drgerwerk AG & Co. KGAA, Abbott Laboratories, Hoffmann-La Roche AG, Biorad Laboratories, Inc., Siemens AG, Thermo Fisher Scientific, Inc., Danaher Corporation, Quest Diagnostics Incorporated and Express Diagnostics International Inc.
Various strategies adopted by these companies to gain stronghold of the market include partnerships, collaborations, approvals, mergers & acquisitions, joint ventures, expansions, and others
The leading companies in Global Drug Screening Market are analyzed in the report along with their business overview, operations, financial analysis, SWOT profile and Drug Screening products and services.
The report lays emphasis on the key trends and opportunities that may emerge soon and positively impact the overall industry growth. Additionally, challenges and restraining factors that are likely to curb the growth in the years to come are put forth by the analysts to prepare the manufacturers for future challenges in advance.
Read More: https://www.openpr.com/news/2167437/global-drug-screening-market-2020-size-share-growth
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