Breaking News
Home >> News >> Specimen Validity Test Reagents Market Growing at a CAGR of 7.0% From 2019-2029

Specimen Validity Test Reagents Market Growing at a CAGR of 7.0% From 2019-2029

According to the latest report published by Acute Market Reports “Specimen validity test reagents market” – Growth, Future Prospects and Competitive Analysis, 2019-2029,” the specimen validity test reagents market is expected to expand at a CAGR of 7 % from 2021 to 2029.

Specimen validity testing (SVT) is performed on a urine drug screen specimen to detect substitution, adulteration, or dilution. The use of drugs is directly affected as demand for testing kits increase. Laboratory based screening was major revenue generating segment due to presence of large number of certified laboratories and stringent guidelines to regulate the accuracy and integrity of the laboratories. However, increasing adoption of stricter regulatory guidelines for pre-employment and random drug testing expected to assist on-site screening market growth during the forecast period.

The complete report is available at https://www.acutemarketreports.com/report/specimen-validity-test-svt-reagents-market

Currently, North America is largest revenue contributor in global SVT reagents market; contributing more than 65 percent of total market share. Stringent guidelines have been structured by the government to overcome adulteration of the drug testing specimen is prime contributor in North America SVT reagent market. Presence of large number of industries and growing number of pre-employment and random drug testing at workplace are another factors that assisting the SVT reagents market growth in North America. However, Asia Pacific is expected to show lucrative growth during forecast period due to developing healthcare infrastructure, rising adoption of stringent regulatory guidelines for drug testing and rising number of drug abuse population.

The World Health Organization (WHO) reports that cannabis is the most widely used illicit drug in the world, representing half of all drug seizures worldwide. An estimate of 147 million people as 2.5% of the world’s population uses marijuana each year. The United States: 5.89%, Greenland: 5.63%, Mongolia: 5.24%, United Kingdom: 5.22% & New Zealand: 4.91% are the top 5 countries with major drug illicit.

In 2020, according to the American Medical Association report, in December more than 40 U.S. states have seen increases in opioid-related mortality along with on-going concerns for those with substance use disorders. The pandemic led to major use of opioids under depression & leading to mental disorders. The testing played vital role in breaking habit of drugs consumption on large scale.The emerging technology & innovation in healthcare has developed the specimen validity test through urine samples. The urine drug testing is a well-established & readily available clinical tool to objectively assess an individual’s illicit drug use behaviors. Illicit drug use is defined as the use of marijuana, cocaine, heroin, hallucinogens, inhalants, or the non-medical use of prescription

Key players in the market are Alere, Thermo Fisher, Scitek, LabCorp, Quest Diagnostics, Alfa Scientific Designs, American Bio Medica Corporation, Express Diagnostics, ACM Global Laboratories, Clinical Reference Laboratory & Premier Biotech.

Key Market Movements:

  • Specimen validity test reagents market is developing significantly with an expected CAGR of 7% from 2021 – 2029.
  • Technology & innovation in accurate testing are key growth factors.
  • Specimen validity test reagents are carried to test the use of illicit drug.
  • The pandemic led effect testing as major intake of drugs resulted in depression.
  • North America, Europe & Asia Pacific dominates the market in the regional analysis.
  • The market tends to grow as the consumption of drugs increases in various regions.
  • Key players in the market are Alere, Thermo Fisher, Scitek, LabCorp, Quest Diagnostics, Alfa Scientific Designs, American Bio Medica Corporation, Express Diagnostics, ACM Global Laboratories, Clinical Reference Laboratory & Premier Biotech.
  • The key strategy of key companies include delivering innovative, customized drug testing products & solutions backed by an unwavering commitment to the consumers.

Specimen validity test reagents market is segmented into:

ATTRIBUTEDETAILS

Research Period

 2019-2029

Base Year

 2020

Forecast Period

 2021-2029

Historical Year

 2019

Unit

 US$ Million

Segmentation

 By Product (2019-2029; US$ Mn)

 

 By Test Type (2019-2029; US$ Mn)

 

 By Application (2019-2029; US$ Mn)

 

 By Region (2019-2029; US$ Mn)

 

 Global Impact of Covid-19 Segment (2020-2021; US$ Mn)

* Detailed Segments are available on the report page

About Us

Acute Market Reports is a worldwide market research and counseling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives.

Contact

Acute Market Reports
Address: 90 Church St, FL 1 #3514,
New York, NY 10008 United States
Toll Free(US/CANADA): +1-855-455-8662
E-mailsales@acutemarketreports.com

Websitehttps://www.acutemarketreports.com

Leave a Reply

Your email address will not be published. Required fields are marked *