Specimen Validity Testing Market trends and key leading players

(IT-NEWSWIRE.COM, August 11, 2020 ) The specimen validity testing market is expected to reach USD 1.49 Billion by 2023 from USD 1.10 Billion in 2018, at a CAGR of 6.3%. The growth of the specimen validity testing market can be attributed to growth in the drug screening market and increase in workplace drug testing. However, the emergence of alternative drug screening tests is the major factors restraining the growth of this market.

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Most key players adopted product launches as their primary growth strategy between 2015 and 2018. The specimen validity testing market is marked by the presence of several big and small players. Prominent players offering specimen validity testing products include Thermo Fisher Scientific (US), Sciteck, Inc. (US), American Bio Medica Corporation (ABMC), Alere [now a part of Abbott (US)], Express Diagnostics Int'l, Inc. (US), and Premier Biotech, Inc. (US). While, Laboratory Corporation of America Holdings (LabCorp) (US), Quest Diagnostics (US), Alere Toxicology (Alere) (US), ACM Global Laboratories (US), Clinical Reference Laboratory (CRL) (US), SureHire (Canada), and CannAmm (Canada) are some of the leading service providers.

Alere is a leader in the specimen validity tests market owing to its strong brand name and robust product portfolio. Alere’s portfolio includes drug testing cups, temperature testing strips, and adulteration strips for specimen validity testing. The company has a strong geographic presence across North America, Europe, the Middle East, Asia Pacific, Latin America, and Africa. This strong network enables Alere to distribute products across the globe. In the past three years, the company adopted inorganic growth strategies such as agreements, partnerships, and collaborations to maintain its leading position in the market.

Premier Biotech is a prominent player in the specimen validity testing market. The company primarily operates in the US and caters to a wide range of customers. To maintain its leading position in the SVT market, the company focuses on organic expansions, such as new product launches. Some of the recent launches by the company include the Rapid Test for 6-Acetylmorphine (6-AM) and U-Tox.

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Alfa Scientific Designs is one of the key players in the rapid specimen validity testing devices market. To gain a competitive edge in the market, the company focuses on adopting organic growth strategies such as product launches. Some of its recent launches include Instant-view-PLUS Urine DOA (2017), Instant-view- PLUS Saliva Test (2017), and the Instant-view Push button Multi-drug Urine Test cup (2016).

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Specimen Validity Testing Market trends and key leading players