Dublin, Dec. 21, 2021 (GLOBE NEWSWIRE) -- The "Specimen Validity Test Reagents Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029" report has been added to ResearchAndMarkets.com's offering.
The Global Specimen validity test reagents market is projected to grow at a CAGR of 7%. The emerging technology & innovation in healthcare has developed the specimen validity test through urine samples.
Specimen validity testing (SVT) is performed on a urine drug screen specimen to detect substitution, adulteration, or dilution. It provides clinicians with critical information about the accuracy and reliability of drug test results. Drug testing is a well-established & readily available clinical tool to objectively assess an individual's illicit drug use behaviours.
Illicit drug use is defined as the use of marijuana, cocaine, heroin, hallucinogens, inhalants, or the non-medical use of prescription. According to the Substance Abuse and Mental Health Services Administration (SAMHSA) nearly 8.7% of the American population aged 12 or older participate in illicit drug use.
The market is driven by the testing of illicit drug use by many people in various regions. The increase in the number of drug abuse populations and stringent regulatory guidelines enforced by regulatory agencies in developed countries such as the United States are prime factors that are driving the growth of the SVT reagent market. North America alone contributed more than 60 percent of the total market share in 2020.
Use of Illicit Drugs by Youth Drives the Market
Illicit drugs consist of Marijuana, opioids, cocaine & other drugs. 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.
These countries also have substantial growth in health care to test the people with major use of drugs. The specimen validity test is performed on large scale in these countries. As a result, many people end with rehabilitation centres, strict laws are made to control the drug market. The specimen validity test market tends to grow as significant use of illicit drugs is accounted for. The market is expected to grow in future.
North America Dominates the Market & Asia-Pacific Emerges
In spite of stringent drug policies and punitive laws, the United States has high levels of lifetime illegal drug use. A 2018 study found that the United States has illicit drug use rates among the highest in the world. Eastern European nations reported the highest rates of alcohol consumption. The 2019 NSDUH indicated that more than 12 million young adults (ages 18 to 25) used marijuana. Findings from the 2019 NSDUH indicated that 3.5% of the U.S. population aged 12 & over misused prescription pain relievers. In the 2019 NSDUH, there were an estimated 97,000 people aged 12 & over in the U.S. who had used cocaine use in the past year. As a significant rise in the market, the market grew substantially as testing increased along with drug use. The Asia Pacific was the region with emerging growth followed by North America & Europe.
COVID-19's Impact on the Market
The ongoing stress and uncertainty of COVID-19 have led to increased demand for mental health services from psychologists in the U.S. however conditions such as anxiety & depression aren't the only mental health issues people are facing. Experts say misuse of opioids and stimulants is also on the rise & psychologists are in a good position to help. 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 ongoing concerns for those with substance use disorders. The pandemic accounted for major testing in many regions as drug use increased.
Historical & Forecast Period
This research report presents the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2029.
Key Quest Answered
- What are the key market segments in the current scenario and in the future by product categories?
- What are the key market segments in the current scenario and in the future by region?
- What is the key impact of COVID-19 over market revenues and market determinants in the Specimen validity test reagents market?
- What are the primary and secondary macro and micro factors influencing the market growth currently and during the forecast period?
- What are the primary and secondary macro and micro factors deterring the market growth currently and during the forecast period?
- How to overcome the current market challenges and leverage the opportunities in each of the market segments?
- Who are the key players in the Specimen validity test reagents market and what are their key product categories and strategies?
- What are the key strategies - mergers/acquisitions/R&D/strategic partnerships etc. that companies are deploying to enhance market revenues and growth?
Key Topics Covered
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Market Dynamics
Chapter 4 Specimen Validity Test Reagents Market (SVTR), by Product
Chapter 5 Specimen Validity Test Reagents Market (SVTR), by Test Type
Chapter 6 Specimen Validity Test Reagents Market (SVTR), by Application Areas
Chapter 7 North America Specimen Validity Test Reagents Market Analysis
Chapter 8 Europe Specimen Validity Test Reagents Market Analysis
Chapter 9 Asia-Pacific Specimen Validity Test Reagents Market Analysis
Chapter 10 Rest of the World Specimen Validity Test Reagents Market (SVTR) Market Analysis
Chapter 11 Company Profiles
- Alere
- Thermo Fisher
- Scitek
- LabCorp
- Quest Diagnostics
- Alfa Scientific Designs
- American Bio Medica Corporation
- Express Diagnostics
- ACM Global Laboratories
- Clinical Reference Laboratory
- Premier Biotech
For more information about this report visit https://www.researchandmarkets.com/r/xtitnz
