The drug of abuse testing market is valued at USD 2.7 billion in 2021 and is poised to grow at a significant CAGR of 5.6% over 2022–2028. Drug abuse testing is frequently employed in forensic and clinical settings. Drug testing has increased in popularity in recent years and is frequently covered in the media. Drug testing is still done in athletics and sports today, but it is becoming more frequent in business, education, the military, retail, and public places. New technologies are being developed to speed up and improve the effectiveness of drug testing in order to meet the rising demand for such testing. Drug tests can now be administered on-site by certified personnel, with results being available in only a few minutes. The rise in the number of clinical laboratories offering drug abuse testing services has contributed to the market’s progress. The market for drug abuse testing services is also anticipated to benefit from a significant rise in the number of physician laboratories, hospital-based laboratories, retail clinics, and independent laboratories that collect samples and conduct drug screening tests. Drug abuse testing has increased over the past few years. An automated analyzer is used in a hospital laboratory to perform medical drug testing. The leading players in the market are acquiring or working with other companies to gain a more significant stake in the market as a result of the companies’ growing interest in the industry.
Recent Market Developments:
In Sept 2019, A new distribution contract was signed by Psychemedics Corporation with Toxicologia Pardini Ltda. and Sanso Holding S.A. in Brazil. Toxicologia Pardini and Sanso was chosen as the Brazilian distributor for Psychemedics’ hair drug testing services under the terms of the new deal.