Drug Testing Supplier Intelligence by key partivipants - Quest Diagnostics, Abbott Laboratories, Quidel, Thermo Fisher S

Drug Testing Procurement Intelligence

The drug testing category is expected to grow at a CAGR of 6.5% from 2023 to 2030. 

The key drivers of the market growth are the increasing consumption of alcohol by young people and the elderly, the overuse of prescribed medications, and the rising use of narcotics. The demand for drug testing is also anticipated to increase due to the increased instances of illegal drug use and the rising crime rates linked to drug misuse. There is more competition among manufacturers, and those developing innovative products across a wider range of categories are capturing a larger share of the market.

Order your copy of the Drug Testing category procurement intelligence report 2023-2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis 

Drug Testing Procurement Intelligence Report Scope

The Drug Testing category is expected to have pricing growth outlook of 9 - 10% (Annually) from 2023 to 2030, with below pricing models. 

Supplier Selection Scope of Report

• Cost and pricing
• Past engagements
• Productivity
• Geographical presence

Supplier selection criteria of Report

• Regulatory compliance
• validation and certification, delivery time
• location
• reliability
• experience
• technical specifications
• operational capabilities
• regulatory standards and mandates
• category innovations
• others.

Drug Testing Procurement Intelligence Report Coverage

Grand View Research will cover the following aspects in the report:

• Market Intelligence along with emerging technology and regulatory landscape
• Market estimates and forecasts from 2022 to 2030
• Growth opportunities, trends, and driver analysis
• Supply chain analysis, supplier analysis with supplier ranking and positioning matrix, supplier’s recent developments
• Porter’s 5 forces
• Pricing and cost analysis, price trends, commodity price forecasting, cost structures, pricing model analysis, supply and demand analysis
• Engagement and operating models, KPI, and SLA elements
• LCC/BCC analysis and negotiation strategies
• Peer benchmarking and product analysis
• Market report in PDF, Excel, and PPT and online dashboard versions 

Drug Testing Procurement Cost and Supplier Intelligence

Suppliers often use a volume-based pricing strategy. Suppliers frequently offer discounts and other incentives to customers who require numerous tests, which in turn helps the suppliers to increase their sales. Additionally, it provides a cost-effective choice for individuals who require ongoing or recurring services. The cost of the equipment, which includes drug testing kits that range from USD 2 to USD 350 depending on the accuracy and kind of sample, is a significant cost component. The typical cost of other equipment, including sterilizing supplies, lab coats, and other sanitary things, is typically between USD 200 - USD 500. The cost of insurance, which must be purchased to cover losses and damages that may result from conducting testing, is another significant cost component. It includes property and general liability and may cost between USD 500 - USD 2,500.

The United States and China are the global leaders in this category as they are heavily investing in research and development to improve the accuracy and efficiency of drug testing technologies. Choosing a trustworthy supplier with a track record of delivering high-quality goods and first-rate customer service is the finest sourcing strategy in the category. Another key parameter to consider is whether the goods adhere to industry norms and rules. Observing OSHA's (Occupational Safety and Health Administration) standards, for instance. In order to prevent tampering or contamination and to guarantee the integrity and authenticity of the results, it is essential to maintain a safe and documented chain of custody for samples.

List of Key Suppliers

• Quest Diagnostics
• Abbott Laboratories
• Quidel
• Thermo Fisher Scientific
• Siemens Healthineers
• Bio Rad Laboratories
• Agilent Technologies
• Labcorp
• Clinical Reference Laboratory
• Cordant Health Solutions

Add-on Services provided by Grand View Research Pipeline:

Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process

Offering cost transparency for different products / services procured by the client. A typical report involves 2-3 case scenarios helping clients to select the best suited engagement with the supplier

Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house.

A typical newsletter study by capturing latest information for specific suppliers related to: M&As, technological innovations, expansion, litigations, bankruptcy etc.

Browse through Grand View Research’s collection of procurement intelligence studies:

Advertising Services Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Enzymes Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends
• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions