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Specimen Validity Testing market expected to grow at 1.49 billion in revenue by 2023 scrutinized in new research

Materials and Chemicals

Specimen Validity Testing Market report provides analysis of top players in all regions with industry size, growth, revenue, cost, sales, technology, market insights, demand, trend, key statistics and industry forecasts to 2023.

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The Global Specimen Validity Testing Market is committed fulfilling the requirements of the clients by giving them thorough insights into the market. An exclusive data offered in this report is collected by research and industry experts team.

Specimen Validity Testing Market spread across 121 Pages, profiling  11 companies and supported with tables and figures are now available in this research report.

The Specimen Validity Testing Market is expected to reach US$ 1.49 Billion by 2023 from US$ 1.10 Billion in 2018, at a CAGR of 6.3%. Growth in the drug screening market and the increase in workplace drug testing are fueling the growth of the specimen validity testing market.

The Specimen Validity Testing Market is segmented into products and services. The services segment is projected to register the highest CAGR during the forecast period; growth in this segment is attributed to the growing implementation of workplace drug testing in several countries, increasing number of drug screening tests, and the growing number of drug screening laboratories across the globe.

“By Type, laboratory testing is expected to dominate the market during the forecast period”

The Specimen Validity Testing Market is segmented into laboratory testing and rapid/POC testing. The laboratory testing segment is expected to dominate the market during the forecast period.

The accuracy of test results and cost-effectiveness of laboratory testing are other key factors driving the demand for this segment.

“Asia Pacific to witness high growth during the forecast period”

North America is expected to account for the largest share of the market followed by Europe. However, Asia Pacific is expected to register the highest CAGR during the forecast period.

The high growth in the APAC regional segment is attributed to the developing healthcare infrastructure, rising adoption of stringent regulatory guidelines for drug testing, increase in the number of illicit drug users, and strategic expansion of key market players in the region.

Report Highlights:

  • To profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies
  • To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW).
  • To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
  • To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
  • To track and analyze competitive developments such as acquisitions; product launches; expansions; agreements, partnerships, and collaborations; and R&D activities in the market

Target Audience for Specimen Validity Testing Market: Rapid drug screening device manufacturers, Drug and alcohol testing laboratories, Specimen validity testing reagent manufacturers, Workplace drug testing, Law enforcement agencies, Government agencies, Venture capitalists, Research and consulting firms.

Competitive Landscape of Specimen Validity Testing Market:

Introduction

Market Ranking Analysis, By Key Player

Competitive Scenario

Product Launches and Approvals

Acquisitions

Partnership, Agreements, and Collaboration

Expansions

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Most Popular Companies in the Specimen Validity Testing Market include are Alere  (Subsidiary of Abbott Laboratories) (US), Thermo Fisher (US), Scitek (US), LabCorp (US), Quest Diagnostics (US), Alfa Scientific Designs (US), American Bio Medica Corporation (US), Express Diagnostics (US), ACM Global Laboratories (US), Clinical Reference Laboratory (CRL), Premier Biotech (US).

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