Specimen Validity Testing Market Size, Sales, Market Growth Rate And Competition Landscape, Forecast 2023

Specimen Validity Testing Market Industry Analysis by Key Players

Specimen Validity Testing Market Overview:

The Specimen Validity Testing Market is expected 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 can be attributed to growth in the drug screening market and increase in workplace drug testing. However, the emergence of alternative drug screening tests is the major factors restraining the growth of this market.

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Research Methodology

The study estimates the specimen validity testing market size for 2018 and projects its demand till 2023. In the primary research process, various sources from both demand side and supply side were interviewed to obtain qualitative and quantitative information for the report. Primary sources from the demand side include various industry CEOs, vice presidents, marketing directors, technology and innovation directors, and related key executives from the various players in the market. For the market estimation process, both top-down and bottom-up approaches were used to estimate and validate the market size of the market as well as to estimate the market size of various other dependent submarkets. All possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. This data was consolidated and added to detailed inputs and analysis from MarketsandMarkets and presented in this report.

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Segmentation:

Reagents, calibrators, and controls are expected to dominate the specimen validity testing products market in 2018.

Based on product, the specimen validity testing market is segmented into reagents, calibrators, and controls; assay kits; and disposables. In 2018, the reagents, calibrators, and controls segment is expected to dominate the market. The growth of this product segment is primarily attributed to the repeated purchase of these products.

Based type, the rapid/POC testing segment is projected to grow at the highest CAGR during the forecast period.

Based on type, the specimen validity testing market is segmented into laboratory testing and rapid/POC testing. In 2018, the laboratory testing segment is expected to account for the largest share of the market. However, 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.

North America to dominate the specimen validity testing market in 2018

In 2018, North America is expected to dominate the market followed by Europe. The large share of this region is attributed to factors such as growing consumption of illicit drugs, the presence of stringent laws mandating drug screening, availability of government funding (to help curb drug abuse), and the presence of key players in the region.

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Key Players:

The specimen validity testing market is marked by the presence of several big and small players. Prominent players offering specimen validity testing products include Thermo Fisher (US), Sciteck. (US), American Bio Medica Corporation (ABMC), Alere (US), Express Diagnostics (US), and Premier Biotech (US). While, LabCorp (US), Quest Diagnostics (US), Alere Toxicology (US), ACM Global Laboratories (US), Clinical Reference Laboratory (CRL) (US), SureHire (Canada), and CannAmm (Canada) are some of the leading service providers.

 

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Akash Raskar

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