Latin America Drug Of Abuse Testing Services Market Size & Outlook
Latin America drug of abuse testing services market, 2018-2030 (US$M)
Related Markets
Latin America drug of abuse testing services market highlights
- The Latin America drug of abuse testing services market generated a revenue of USD 296.7 million in 2023.
- The market is expected to grow at a CAGR of 2.8% from 2024 to 2030.
- In terms of segment, cannabis/marijuana was the largest revenue generating drug type in 2023.
- Cannabis/Marijuana is the most lucrative drug type segment registering the fastest growth during the forecast period.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 296.7 million |
| Market revenue in 2030 | USD 359.2 million |
| Growth rate | 2.8% (CAGR from 2023 to 2030) |
| Largest segment | Cannabis/marijuana |
| Fastest growing segment | Cannabis/Marijuana |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Alcohol, Cannabis/Marijuana, Cocaine, Opioids, Amphetamine & Methamphetamine, LSD, Other Drug Types |
| Key market players worldwide | Quest Diagnostics Inc, Abbott Laboratories, Clinical Reference Laboratory, Cordant Health Solutions, ZeOmega, Psychemedics Corp, Millennium HealthCare Inc, Mayo Clinic, Precision Diagnostics, LGC Group, Labcorp Drug Development, Legacy Medical, Drugscan, USDTL |
Other key industry trends
- In terms of revenue, Latin America region accounted for 4.5% of the global drug of abuse testing services market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 4,717.6 million by 2030.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
Drug Of Abuse Testing Services Market Scope
Drug Of Abuse Testing Services Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America drug of abuse testing services market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to drug of abuse testing services market will help companies and investors design strategic landscapes.
Cannabis/marijuana was the largest segment with a revenue share of 24.27% in 2023. Horizon Databook has segmented the Latin America drug of abuse testing services market based on alcohol, cannabis/marijuana, cocaine, opioids, amphetamine & methamphetamine, lsd, other drug types covering the revenue growth of each sub-segment from 2018 to 2030.
The growth of Latin America’s drug of abuse testing services market can be attributed to the increasing penetration of key players in the region. Several key players have established their testing laboratories in countries such as Brazil and Mexico to gain a competitive edge.
High drug consumption in several Latin American countries and high prevalence of substance use disorder in the region is anticipated to create lucrative opportunities in the market. However, uncertain regulatory scenario related to workplace drug testing in some Latin American countries is anticipated to be a major impediment to market demand.
Reasons to subscribe to Latin America drug of abuse testing services market databook:
-
Access to comprehensive data: Horizon Databook provides over 1 million market statistics and 20,000+ reports, offering extensive coverage across various industries and regions.
-
Informed decision making: Subscribers gain insights into market trends, customer preferences, and competitor strategies, empowering informed business decisions.
-
Cost-Effective solution: It's recognized as the world's most cost-effective market research database, offering high ROI through its vast repository of data and reports.
-
Customizable reports: Tailored reports and analytics allow companies to drill down into specific markets, demographics, or product segments, adapting to unique business needs.
-
Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of Latin America drug of abuse testing services market databook
-
Our clientele includes a mix of drug of abuse testing services market companies, investment firms, advisory firms & academic institutions.
-
30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
-
Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
-
The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America drug of abuse testing services market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America drug of abuse testing services market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
Latin America drug of abuse testing services market size, by country, 2018-2030 (US$M)
Latin America Drug Of Abuse Testing Services Market Outlook Share, 2023 & 2030 (US$M)
Related industry reports
Related regional statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
