LONDON--(BUSINESS WIRE)--Technavio has been monitoring the specimen validity testing market and it is poised to grow by USD 393.04 million during 2020-2024, progressing at a CAGR of about 6% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request Latest Free Sample Report on COVID-19 Impact
Frequently Asked Questions-
What was the value of the specimen validity testing market in 2019?
A. Technavio says that the value of market was at USD 1,145.22 million in 2019 and is projected to reach USD 1,538.26 million by 2024.
At what rate is the market projected to grow during the forecast period 2020-2024?
A. Growing at a CAGR of almost 6%, the market growth will accelerate in the forecast period.
What is the key factor driving the market?
A. Rising consumption of alcohol and illicit drugs.
Who are the top players in the market?
A. 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. are the top players in the market.
Which region is expected to hold the highest market share in the market?
A. North America.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. 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. are some of the major 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.
Rising consumption of alcohol and illicit drugs has been instrumental in driving the growth of the market. However, the presence of a stringent regulatory framework might hamper market growth.
Specimen Validity Testing Market 2020-2024: Segmentation
Specimen Validity Testing Market is segmented as below:
- North America
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40313
Specimen Validity Testing Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our specimen validity testing market report covers the following areas:
- Specimen Validity Testing Market size
- Specimen Validity Testing Market trends
- Specimen Validity Testing Market industry analysis
This study identifies the growing adoption of inorganic growth strategies by vendors as one of the prime reasons driving the specimen validity testing market growth during the next few years.
Specimen Validity Testing Market 2020-2024: Vendor Analysis
We provide a detailed analysis of around 25 vendors operating in the specimen validity testing market, including some of the vendors such as 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. Backed with competitive intelligence and benchmarking, our research reports on the specimen validity testing market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
Register for a free trial today and gain instant access to 17,000+ market research reports. Technavio's SUBSCRIPTION platform
Specimen Validity Testing Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist specimen validity testing market growth during the next five years
- Estimation of the specimen validity testing market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the specimen validity testing market
- 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
Table of Contents:
- Market Overview
- Market ecosystem
- Value chain analysis
- 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
- 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
- Landscape disruption
- 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.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.