Specimen Validity Testing Market Insights, Future Trends, On-going Demand, Opportunities, Segmentation & Forecast - 2028

Reports And Data

Growing global incidence of substance abuse, increasing cases of prescription diversion, and stringent laws mandating drug screening tests.

NEW YORK, NY, UNITED STATES, November 1, 2021 /EINPresswire.com / -- 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. Rapidly rising incidence of drug abuse, increasing number of drug screening labs across the globe, and growing demand for presumptive tests are key factors expected to drive market revenue growth over the forecast period. Presence of stringent regulations that mandate drug screening tests and increasing adoption of drug screening at workplace are also expected to contribute to market growth going ahead. Rising use of illicit drugs and growing diversion of prescription drugs is also expected to drive market growth going ahead.

Specimen Validity Testing (SVT) is performed on urine specimen to detect adulteration, substitution, or dilution. Specimen validation testing plays a crucial role in the healthcare sector as it allows clinicians to assess patient's behavior, medicine adherence, and honesty in communication. Clinicians generally order SVT to make informed therapeutic decisions about medical conditions of their patients, which also includes therapeutic overuse and illicit drug abuse. Specimen validity testing enables clinicians and toxicologists ensure the integrity of the test through accurate measurements of creatinine, pH, and specific gravity. This has boosted its adoption in law enforcement agencies and in criminal justice and this is expected to drive market growth going ahead.

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Rapid adoption of urine drug testing at workplace has contributed significantly to revenue growth of the global specimen validity testing market. Specimen validity testing and urine drug screening are crucial tools that allow employers enhance workplace safety and this is expected further fuel market growth going ahead. Growing awareness regarding drug screening tests and increasing efforts by governments to encourage specimen validity testing and drug screening and research programs are also expected to drive revenue growth of the market over the forecast period. However, availability of alternative drug screening tests is expected to restrain market growth to a certain extent over the forecast period.

Key Offerings of the Global Specimen Validity Testing Market Report:

•Deep insights into the Specimen Validity Testing market landscape
•Key details about the regional segmentation of the Specimen Validity Testing market
•Analysis of the crucial market trends with regards to both current and emerging trends
•Extensive overview of the key manufacturers and prominent players of the industry
•Comprehensive study of the market segmentation and recent developments

Market Dynamics:

Ongoing efforts of key players to develop advanced therapeutics and drugs, rapid adoption of advanced technologies such as artificial intelligence, additive manufacturing, ad blockchain technologies, among others, and growing focus on precision medicine have led to rapid changes in the pharma and healthcare industry. Legalization and acceptance of medical marijuana, rising focus on connected devices in healthcare sector, and popularization of beyond-the-pill have further revolutionized the healthcare industry. The emergence of COVID-19 pandemic has played a crucial role in the progress of healthcare industry with rapid shift in focus on preventive healthcare, increasing awareness about health and wellness, growth of telemedicine and teleconsultation, and rapid adoption of advanced technologies to cater to the growing patient pool.

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Competitive Landscape:

The report offers a comprehensive overview of the competitive landscape of the market to offer key insights about the key companies operating in the market. The section discusses in detail the initiatives and innovations adopted by the key players to gain a strong foothold in the market. It also provides insights into mergers and acquisitions, joint ventures, collaborations, partnerships, and agreements, among others to offer a better understanding of the market.

Key companies in the market include:

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.

Some 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.

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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)

•Products
oReagents, Calibrators, & Controls
oAssay Kits
oDisposable
•Services

Type Outlook (Revenue, USD Billion; 2018-2028)

•Laboratory Testing
•Rapid/POC Testing

End-use Outlook (Revenue, USD Billion; 2018-2028)

•Workplaces
•Drug Screening Laboratories
•Law Enforcement Agencies
•Pain Management Centres
•Drug Rehabilitation Centres
•Others

Regional Analysis:

The section covers a comprehensive analysis of key regions for production and consumption ratio, import/export analysis, supply and demand dynamics, regional trends and demands, and presence of prominent players in each region. The regional analysis segments also offers a country-wise analysis to offer panoramic view of the market and help investors, clients, stakeholders, and businesses better understand the opportunities and growth scope of the Specimen Validity Testing market.

The regional analysis covers:

•North America (U.S., Canada, Mexico)
•Europe (U.K., Italy, Germany, France, Rest of Europe)
•Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
•Latin America (Chile, Brazil, Argentina, Rest of Latin America)
•Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client's make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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