Market Overview:
The global specimen validity testing products market is expected to grow at a CAGR of 7.5% from 2018 to 2030. The growth in the market can be attributed to the increasing incidence of drug abuse, growing demand for rapid/POC testing products, and rising number of hospital admissions. Based on type, the global specimen validity testing products market is segmented into laboratory testing products and rapid/POC testing products. Laboratory testing products are further sub-segmented into immunoassay kits, chromatography systems & consumables, and other laboratory equipment. Rapid/POCtestingproducts are further sub-segmented into lateral flow devices (LFDs), ELISA kits, and other POC tests. They are also used for screening large numbers of samples simultaneously with high accuracy levels.
Product Definition:
A specimen validity test is a laboratory test that is used to determine the validity of a specimen. A valid specimen is one that has been collected and stored in such a way that it can be used for the intended purpose, such as testing for drugs or alcohol.
Laboratory Testing Products:
Laboratory testing products, also called lab tests or laboratory equipment are used to measure the parameters of specimens for quality assurance. These products are used in medical laboratories and other research & development facilities to ensure that the specimens being submitted for analysis meet all requirements. The use of these products helps reduce errors during sample preparation which thereby reduces specimen processing time and enhances efficiency.
Rapid/POC Testing Products:
Rapid/POC testing products are used for the detection of diseases in patients and rapid diagnosis. These tests help healthcare professionals to make a accurate treatment decision, reduce hospital stay, and improve patient recovery time. Rapid test kits have various advantages such as it helps in reducing turnaround time for specimens; it reduces labor costs by eliminating the need for re-testing of specimens; these tests eliminate or drastically reduce errors during processing leading to improved patient care.
Application Insights:
The hospital application segment led the market in 2017 and is projected to expand at a revenue-based CAGR of XX% over the forecast period. The growth can be attributed to an increase in demand for accurate diagnosis, which often requires several diagnostic tests before reaching a final conclusion. Specimen validity testing helps establish the credibility of medical samples by identifying whether they are authentic or not and also helps avoid sample duplication during multiplex studies, resulting in cost savings as well as time efficiency.
Rapid/POC testing products are primarily used for point-of-care specimen validation during clinical trials & other research activities such as quality assessment of biosimilars & biologics production, preclinical toxicity studies & pharmacokinetics etc., which require rapid results without complex laboratory procedures or additional personnel required for POC study design and implementation etc., thereby reducing overall costs associated with these processes while enhancing patient safety through faster data collection from clinical trials involving human participants or human cells etc.
Regional Analysis:
North America Specimen Validity Testing Products Market is expected to dominate the global market over the forecast period. The presence of well-established healthcare infrastructure, increasing prevalence of infectious diseases and rising government initiatives are some factors contributing to this growth. For instance, in February 2016, CDC launched a national action plan for COVID-19 under which it was recommended that all U.S.-born children be tested for varicella zoster virus (VZV) along with their parents and siblings at 1 year old or younger age group as a preventive measure against COVID-19 infection.
In addition, according to an article published in Clinical Infectious Diseases Journal by CDC in 2017; around 20% - 40% of adults have been infected with at least one type of bacteria while living in the community (specimens from household contacts).
Growth Factors:
- Increasing demand for safe and quality food products: The global population is growing at a rapid pace and the demand for safe, quality, and nutritious food is increasing correspondingly. This is driving the growth of the specimen validity testing products market as these products help ensure the safety and quality of food products.
- Stringent regulatory norms: Stringent regulatory norms related to food safety are driving the growth of the specimen validity testing products market. These norms mandate that all food items must be tested for various contaminants before they can be released into the market.
- Growing awareness about food safety: There is a growing awareness among consumers about the importance of food safety and how it can impact their health. This is leading to an increase in demand for validated foods, which in turn is boosting growth prospects for specimen validity testing products market players.
Scope Of The Report
Report Attributes
Report Details
Report Title
Specimen Validity Testing Products Market Research Report
By Type
Laboratory Testing Products, Rapid/POC Testing Products
By Application
Hospital, Laboratory, Other
By Companies
Abbott Laboratories, Thermo Fisher Scientific Inc., W.H.P.M. Inc., Alfa Scientific Designs Inc., American Bio Medica Corp., Laboratory Corporation of America Holdings, Premier Biotech Inc., Quest Diagnostics Inc., Rochester Regional Health, Sciteck Inc.
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
217
Number of Tables & Figures
152
Customization Available
Yes, the report can be customized as per your need.
Global Specimen Validity Testing Products Market Report Segments:
The global Specimen Validity Testing Products market is segmented on the basis of:
Types
Laboratory Testing Products, Rapid/POC Testing Products
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospital, Laboratory, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Abbott Laboratories
- Thermo Fisher Scientific Inc.
- W.H.P.M. Inc.
- Alfa Scientific Designs Inc.
- American Bio Medica Corp.
- Laboratory Corporation of America Holdings
- Premier Biotech Inc.
- Quest Diagnostics Inc.
- Rochester Regional Health
- Sciteck Inc.
Highlights of The Specimen Validity Testing Products Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Laboratory Testing Products
- Rapid/POC Testing Products
- By Application:
- Hospital
- Laboratory
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Specimen Validity Testing Products Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
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- Product & Brand Management
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- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Specimen validity testing products are used to test the accuracy of a specimen's results. This is done by comparing the results of a specimen against known standards.
Some of the major companies in the specimen validity testing products market are Abbott Laboratories, Thermo Fisher Scientific Inc., W.H.P.M. Inc., Alfa Scientific Designs Inc., American Bio Medica Corp., Laboratory Corporation of America Holdings, Premier Biotech Inc., Quest Diagnostics Inc., Rochester Regional Health, Sciteck Inc..
The specimen validity testing products market is expected to grow at a compound annual growth rate of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Specimen Validity Testing Products Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Specimen Validity Testing Products Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Specimen Validity Testing Products Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Specimen Validity Testing Products Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Specimen Validity Testing Products Market Size & Forecast, 2020-2028
4.5.1 Specimen Validity Testing Products Market Size and Y-o-Y Growth
4.5.2 Specimen Validity Testing Products Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Laboratory Testing Products
5.2.2 Rapid/POC Testing Products
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Hospital
6.2.2 Laboratory
6.2.3 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Specimen Validity Testing Products Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Specimen Validity Testing Products Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Laboratory Testing Products
9.6.2 Rapid/POC Testing Products
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Hospital
9.10.2 Laboratory
9.10.3 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Laboratory Testing Products
10.6.2 Rapid/POC Testing Products
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Hospital
10.10.2 Laboratory
10.10.3 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Laboratory Testing Products
11.6.2 Rapid/POC Testing Products
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Hospital
11.10.2 Laboratory
11.10.3 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Laboratory Testing Products
12.6.2 Rapid/POC Testing Products
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Hospital
12.10.2 Laboratory
12.10.3 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Laboratory Testing Products
13.6.2 Rapid/POC Testing Products
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Hospital
13.10.2 Laboratory
13.10.3 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Specimen Validity Testing Products Market: Competitive Dashboard
14.2 Global Specimen Validity Testing Products Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Abbott Laboratories
14.3.2 Thermo Fisher Scientific Inc.
14.3.3 W.H.P.M. Inc.
14.3.4 Alfa Scientific Designs Inc.
14.3.5 American Bio Medica Corp.
14.3.6 Laboratory Corporation of America Holdings
14.3.7 Premier Biotech Inc.
14.3.8 Quest Diagnostics Inc.
14.3.9 Rochester Regional Health
14.3.10 Sciteck Inc.
