Stratview Research releases a new report on the Specimen Validity Testing Market that shows lucrative growth opportunities in the global industry during the next five-year period. This report ensures reliable information related to the present and future market trends. The following summary will give an overview of the challenges, dynamics, and more details mentioned in the report.
Specimen Validity Testing Market Insights:
Specimen Validity Testing Market is likely to witness a steady CAGR of over 6.5% during the forecast period.
The Specimen Validity Testing Market size depends upon several factors that have a direct or indirect influence on the demand and supply chain. The report published by Stratview Research throws light on the vital extracts of many such factors derived using different types of analysis like supply chain analysis, etc. These methods help in analyzing the core strength of the companies, identifying their growth strategies, and recognizing their gaps as well as opportunities to lay out an effective roadmap that leads to higher profitability.
Market Drivers
Major factors such as increasing illegal drug-related activities, stringent drug-screening regulations, and increasing government investment to combat drug abuse are expected to drive the market growth during the forecast period. Furthermore, rising demand for presumptive tests, growing consumption of illicit drugs among the younger generation, and the adoption of drug screening tests at the workplace are all expected to have a significant impact on the demand for the market.
Key Players
The report also highlights the topmost linchpins active in the market. According to the list, here are few key players mentioned in the report -
- ACM Global Laboratories.
- Alfa Scientific Designs, Inc.
- American Bio Medica Corporation
- Clinical Reference Laboratory, Inc.
- GenomeWeb LLC.
- Laboratory Corporation of America
- Premier Biotech, Inc.
- Quest Diagnostics Incorporated.
- Sciteck, Inc.
- Thermo Fisher Scientific Inc.
Market Segmentation:
The report segments based upon geographics, demographics, benefits and volume etc., identifies the most attractive segments and sub-segments and have different driving factors. The segmentation mentioned in the report has been arranged in such a way that it can help users to be more efficient in terms of time, investment, and other resources. It also allows the businesses to learn more about their target audience so that they can tailor their strategies, and campaigns in increasing their market share and revenue.
Based on the products & services type, the market is segmented as products and services. The products segment is further sub-segmented as reagents, calibrators, and controls; assay kits; and disposables. The reagents, calibrators, and controls sub-segment is expected to dominate the market during the forecast period, owing to the increasing demand for reagents and rapid screening kits in drug screening laboratories.
Based on the testing type, the market is segmented as laboratory testing and rapid/POC testing. Rapid/POC testing is expected to grow at a higher CAGR in the market during the forecast period. The benefits of instant results, the ability to detect multiple drugs at once, and the recurrent and repetitive use of rapid/POC drug testing products are driving the segment's growth.
In terms of regions, the market is segmented as North America, Europe, Asia-Pacific, and Rest of the World. Among these regions, North America is the dominant region in the market due to stringent laws for drug screening, increasing government investment to control drug abuse, and increase in the consumption of illicit drugs. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
Report Customization Options
Stratview Research offers one of the following free customization options to the users along with this detailed report:
Company Profiling
· Detailed brief of additional market players.
· SWOT analysis of key players.
· Competitive Benchmarking
Benchmarking of the market key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.
Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.
