Quest Diagnostics: Quest Diagnostics announced that it had received emergency use authorization from the U.S. Food and Drug Administration (FDA) for a new test that can detect the Omicron variant of the COVID-19 virus. The test is called the "Quest SARS-CoV-2 RT-PCR test for the detection of the Omicron variant" and is designed to be used with respiratory specimens.
Thermo Fisher Scientific: Thermo Fisher Scientific announced that it had completed the acquisition of PPD, a leading global contract research organization (CRO). The acquisition will expand Thermo Fisher's capabilities in clinical research services and strengthen its position in the healthcare and life sciences markets. The acquisition was valued at USD 27.2 billion and is one of the largest in the history of the healthcare industry.
Author Credits: Radhika Gupta, Shivam Bhutani
Report ID: 4891
Published Date: May 02, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
Increasing prevalence of drug abuse, and stringent government regulations are the major factors driving the market growth.
The market size of drug screening is anticipated to attain a CAGR of 19.80% over the forecast period, i.e., 2023-2035.
The major players in the market are Shimadzu Corporation, F. Hoffmann-La Roche AG, Express Diagnostics International Inc., OraSure Technologies, Drägerwerk AG & Co. KGaA, and others.
The market is segmented by product type, end user, and by region.
The hospital segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
The variability in drug test results is estimated to be the growth hindering factor for the market expansion.
The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
The market is segmented by product type, end user, and by region.