0

Specimen Validity Testing Market by Type and Geography - Forecast and Analysis 2020-2024

  • Published: Apr 2020
  • Pages: 120
  • SKU: IRTNTR40313
Technavio

The 2022-2026 version of this report is just being published. Buy it now and get up to $1000 worth of free customization!

Get me the latest version! (includes COVID-19 impact)
Safe and Secure SSL Encrypted
  • 2500.00
  • USD

The specimen validity testing market size has the potential to grow by USD 393.04 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period because of the steady increase in year-over-year growth.

This report provides a detailed analysis of the market by type (products and services) and geography (Asia, Europe, North America, and ROW). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Abbott Laboratories, Alfa Scientific Designs Inc., American Bio Medica Corp., Laboratory Corporation of America Holdings, Premier Biotech Inc., Quest Diagnostics Inc., Rochester Regional Health, Sciteck Inc., Thermo Fisher Scientific Inc., and W.H.P.M. Inc.

Market Overview

specimen-validity-testing-market-size

Browse TOC and LoE with selected illustrations and example pages of specimen validity testing market

Request a FREE sample now!

Market Competitive Analysis

The specimen validity testing market is fragmented due to the presence of numerous vendors, ranging from small regional vendors to large global vendors. The leading vendors have strong financial abilities, high R&D activities, and technical expertise for developing advanced products and offer low-cost services. Vendors are focusing on adopting both organic growth strategies such as product launches and inorganic growth strategies such as mergers and acquisitions to increase their dominance and expand their product offerings. Quest Diagnostics Inc., Rochester Regional Health, Sciteck Inc., Thermo Fisher Scientific Inc., and W.H.P.M. Inc. are some of the major market participants. Although the growing consumption of alcohol and illicit drugs will offer immense growth opportunities, the presence of a stringent regulatory framework will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this specimen validity testing market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this specimen validity testing market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

  • Abbott Laboratories
  • Alfa Scientific Designs Inc.
  • American Bio Medica Corp.
  • Laboratory Corporation of America Holdings
  • Premier Biotech Inc.
  • Quest Diagnostics Inc.
  • Rochester Regional Health
  • Sciteck Inc.
  • Thermo Fisher Scientific Inc.
  • W.H.P.M. Inc.

Specimen Validity Testing Market: Segmentation by Region

specimen-validity-testing-market-share-by-region

For more insights on the market share of various regions Request for a FREE sample now!

North America had the largest specimen validity testing market share in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The increase in drug positive results at workplaces and growing promotions from governments to counter drug abuse are driving market growth in North America. Moreover, the presence of a significant number of vendors offering advanced specimen validity testing products and services in countries such as the US and Canada is also benefiting the growth of the regional specimen validity testing market. will significantly influence specimen validity testing market growth in this region.

49% of the market’s growth will originate from North America during the forecast period. The US is one of the key markets for specimen validity testing in North America. Market growth in this region will be slower than the growth of the market in other regions.

Specimen Validity Testing Market: Segmentation by Type

specimen-validity-testing-market-share-by-distribution-channel

Request for a FREE sample and Get more information on the market contribution of various segments

The products segment includes reagents, calibrators, controls, assay kits, and disposables used in specimen validity testing procedures. Specimen validity testing products are finding increasing use in determining the concentration of creatinine, density of dissolved particles, and pH value of a specimen. Moreover, the growing number of product approvals and the use of such advanced and reliable products are enabling service providers to efficiently detect the adulteration, substitution, and dilution in specimens.

Market growth in this segment will be slower than the growth of the market in the services segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the specimen validity testing market size.

Specimen Validity Testing Market: Key Drivers and Trends

The rising trend of drug abuse is resulting in a significant number of drug-related disorder cases and deaths. The annual cost related to drug abuse and addiction in the US is estimated at about USD 700 billion, due to the loss of workplace productivity, an increase in healthcare expenses, and criminal activities. In order to counter the growing practices of drug abuse, several public and private bodies such as corporate office, drug rehabilitation centers, law enforcement agencies, and government facilities are increasingly adopting specimen validity testing services. Additionally, the growing number of drug rehabilitation centers aid in increasing the routine prescription of the specimen validity testing to monitor the habitual drug intakes among people undergoing treatment for substance abuse disorders. Moreover, the increasing burden of drug abuse and drug-related disorders has also led several governments to take measures for countering drug abuse practices through regulatory mandates and awareness campaigns. Such initiatives have also increased the demand for drug abuse testing and specimen validity, testing products and services.

Growing investments from vendors in R&D and increasing competition in the market enabled vendors to consistently focus on product developments and launches. Owing to the presence of stringent regulations on specimen validity tests and assays, vendors are concentrating on developing reliable products to meet high precision and quality requirements during specimen validity testing. This has led to the increasing number of product clearances and certifications. The rising number of product approvals, one of the key specimen validity testing market trends, will drive the demand for specimen validity testing across the globe. Such factors will drive market growth at a CAGR of about 6% during the forecast period.

specimen-validity-testing-market-report

Request for a FREE sample now!

Specimen Validity Testing Market: Key Highlights of the Report for the Forecast Period 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive specimen validity testing market growth during the next five years
  • Precise estimation of the specimen validity testing market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the specimen validity testing industry across Asia, Europe, North America, and ROW
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of specimen validity testing market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

Read More Read Less

Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Type

  • Market segments
  • Comparison by Type placement
  • Products - Market size and forecast 2019-2024
  • Services - Market size and forecast 2019-2024
  • Market opportunity by Type

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • Asia - Market size and forecast 2019-2024
  • ROW - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography

Drivers, Challenges, and Trends

  • Market drivers
  • Volume driver - Demand led growth
  • Volume driver - Supply led growth
  • Volume driver - External factors
  • Volume driver - Demand shift in adjacent markets
  • Price driver - Inflation
  • Price driver - Shift from lower to higher priced units
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Abbott Laboratories
  • Alfa Scientific Designs Inc.
  • American Bio Medica Corp.
  • Laboratory Corporation of America Holdings
  • Premier Biotech Inc.
  • Quest Diagnostics Inc.
  • Rochester Regional Health
  • Sciteck Inc.
  • Thermo Fisher Scientific Inc.
  • W.H.P.M. Inc.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
Technavio

TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
Technavio

TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
Interested in this report?
Get your FREE sample now!
The specimen validity testing market growth will increase by $393.04 million during 2019-2024.
The specimen validity testing market is expected to grow at a CAGR of 6.08% during 2019-2024.
Technavio has segmented the specimen validity testing market by type (Products and Services) and geographic (North America, Europe, and Asia).
Abbott Laboratories, Alfa Scientific Designs Inc., American Bio Medica Corp., Laboratory Corporation of America Holdings, Premier Biotech Inc., Quest Diagnostics Inc., Rochester Regional Health, Sciteck Inc., Thermo Fisher Scientific Inc., W.H.P.M. Inc. are a few of the key vendors in the specimen validity testing market.
North America will register the highest growth rate of 52.75% among the other regions. Therefore, the specimen validity testing market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the specimen validity testing market growth are:
  • Growing consumption of alcohol and illicit drugs
  • Advent of rapid POC testing procedures
The specimen validity testing market vendors should focus on grabbing business opportunities from the products segment as it accounted for the largest market share in the base year.
Safe and Secure SSL Encrypted
Technavio

Single User:

2500 USD

Technavio Get the report (PDF) sent to your email within minutes.

Subscribe & Save

Get lifetime access to our
Technavio Insights

Want to customize this report?

This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time.

We offer $1000 worth of FREE customization at the time of purchase
Technavio
Enquire Before Buying
  1. Home
  2. Health Care
  3. Published Report
17,000 reports available | Plans starting from just 5,000 USD | Get FREE trial>>