The global specimen validity testing market is projected to reach USD 1.49 billion by 2023 from USD 1.10 billion in 2018, at a CAGR of 6.3%. The growth of the specimen validity testing market is primarily driven by the growth in the drug screening market and increase in workplace drug testing.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=147024121
The specimen validity testing market is witnessing a rise in mergers and acquisitions in the past few years, Many established players have acquired smaller players to strengthen their products and services portfolio and expand their presence across various geographies. Some of the recent acquisitions include the acquisition of Alere by Abbott (2017) and Cape Cod Healthcare Outreach Laboratory by Quest Diagnostic (2017).
Based on product, the market is segmented into reagent, calibrators, and controls; assay kits; and disposables. Among these, reagents, calibrators, and controls are expected to account for the largest share of the market. Also, this segment is expected to register the highest growth rate during the forecast period. The high growth of this segment is owing to its recurring requirement and repetitive usage.
Based type, the specimen validity testing market is segmented into laboratory testing and rapid/POC testing. The rapid/POC testing segment is expected to register the highest CAGR during the forecast period. The high growth can be attributed to the instant results, detection of multiple drugs at once, and recurrent & repetitive usage of rapid/POC drug testing products.
Based on the end user, the specimen validity testing market is segmented into workplaces, drug screening laboratories, criminal justice and law enforcement agencies, pain management centers, drug rehabilitation centers, and other end users. Drug rehabilitation centers are expected to grow at the highest CAGR during the forecast period. Growing consumptions of illicit drugs and government support for substance abuse treatment are the key factors driving the growth of this end-user segment.
Among the four regional segments covered in the specimen validity testing market—North America, Europe, Asia Pacific, and the Rest of the World (RoW), Asia Pacific is expected to grow at the highest CAGR during the forecast period. The high growth of this regional segment is attributed to the growing consumption of illicit drugs, strategic expansion of key players, and adoption of stringent guidelines for drug testing.
