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(IT-NEWSWIRE.COM, June 22, 2021 ) The specimen validity testing market is expected to reach USD 1.86 billion by 2027 from USD 1.10 billion in 2018, at a CAGR of 6.3%. Growth in the drug & alcohol treatment and increase in workplace drug testing are the factors driving the growth of the specimen validity testing market.
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.
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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.
While the specimen validity testing market represents significant growth opportunities, market growth may be hindered due to the emergence of alternative drug screening tests. 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 Scientific (US), Sciteck, Inc. (US), American Bio Medica Corporation (ABMC), Alere [now a part of Abbott (US)], Express Diagnostics Intl, Inc. (US), and Premier Biotech, Inc. (US). While, Laboratory Corporation of America Holdings (LabCorp) (US), Quest Diagnostics (US), Alere Toxicology (Alere) (US), ACM Global Laboratories (US), Clinical Reference Laboratory (CRL) (US), SureHire (Canada), and CannAmm (Canada) are some of the leading service providers.
Alere is a leader in the specimen validity tests market owing to its strong brand name and robust product portfolio. Alere’s portfolio includes drug testing cups, temperature testing strips, and adulteration strips for specimen validity testing. The company has a strong geographic presence across North America, Europe, the Middle East, Asia Pacific, Latin America, and Africa. This strong network enables Alere to distribute products across the globe. In the past three years, the company adopted inorganic growth strategies such as agreements, partnerships, and collaborations to maintain its leading position in the market.
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
Source: EmailWire.Com 
Source: EmailWire.com
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