The 2021-2031 period to see the North American toxicology lab market move towards dramatic growth with an 11% CAGR

Posted by Archit Sanjay on June 28th, 2022

The  North American Toxicology Lab market  is set to grow at a substantial pace over the forecast period. Vital signs monitoring, in combination with wearable devices, aids in symptom control and 24/7 education. Portable dongles are also available to connect to smartphones to measure biomarkers for chronic ailments. This monitoring is more convenient and cost effective than in-person assistance. This trend would be prevalent in the healthcare sector in the future.

According to a revised report released by Persistence Market Research, the North American toxicology laboratory market is valued  at US $ 180 million and is expected to increase at an  11% CAGR  over the forecast period (2021-2031).

Toxicological testing is a science that deals with the identification of poisons and controlled substances and their effect on the legal, clinical and industrial environment. Toxicology testing laboratories diagnose numerous controlled substances for excessive consumption with the help of suspicious samples such as urine, hair, blood and oral fluids.

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This research examines the numerous devices, reagents and kits used in forensic laboratories (public and commercial), clinics, rehabilitation centers, hospitals and diagnostic laboratories to diagnose the amount of substance.

Companies involved in the manufacture of drug testing kits and tools in the United States are now focusing on commercializing new reagents that ensure rapid test results. Such initiatives are being taken by companies in consideration of the large gap between supply and demand for toxicology services in the United States, which is expected to increase the demand for toxicology laboratories in North America.

Company profiles:

  • Thermo Fisher Scientific, Inc.
  • Danaher Corporation
  • Agilent Technologies
  • Alere, Inc.
  • Bio Rad Laboratories Inc.
  • Neogen Corporation
  • Bruker
  • WATERS
  • Redwood Toxicology Laboratory
  • Principles Laboratory
  • Pacific Toxicology Laboratories
  • Medical Toxicology Laboratory, LLC
  • ITR Canada
  • Laboratori NMS
  • National Toxicology Labs, Inc
  • BATTS Laboratories

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Key points of the market study

  • Amphetamines are expected to contribute more than 26% of the market's revenue share by 2031.
  • ELISA and RIA kits top the demand rankings by product, thanks to the advanced application of these kits for primary sample analysis.
  • Urine samples are expected to account for a 60% market share, due to their prominent use in the detection of opioids, alcohol and amphetamines.
  • Of all end users, forensic labs account for more than 5% market share, attributed to the substantial need for these labs by federal agencies and other private companies.
  • The United States has the largest share of the North American toxicology laboratory market.
  • Leading instrument and reagent manufacturers are gaining core competencies through new product launches and are focusing on making improvements in achieving results in minimal time.
  • The US market is expected to be the fastest growing market with a CAGR close to 12%.

"The market is expected to see significant growth in the near future due to growing awareness of the safety of pharmaceuticals along with technological advances,"  says an analyst with Persistence Market Research.

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Government initiatives towards toxicology laboratories

Government officials are enforcing stringent regulatory rules to prevent misuse of regulated substances, which, in turn, is leading to an increase in the use of toxicology testing in the North American market.

The United States Controlled Substances Act Controls the Manufacture, Distribution, and Dispensing of Controlled Substances in the United States The Controlled Substances Act (CSA) establishes a unified legal framework to regulate certain drugs that are believed to pose a risk of abuse and addiction. CSA can apply to drugs that are medical or recreational and legally or illicitly distributed.

Such stringent government regulations have also mandated drug monitoring of employees in the workplace. Before granting any reimbursement to claimants, insurance service providers conduct toxicology tests.

What does the report cover?

Persistence Market Research offers a unique perspective and actionable insights into the North American toxicology laboratory market in its latest study, presenting the 2016-2021 historical demand assessment and 2021-2031 projections.

The research study is based on drug class (alcohol, amphetamines, barbiturates, benzodiazepines, illicit drugs, opioids / opioids, tricyclic antidepressants and Z drugs), product (reagents, kits and tools), sample (urine, blood, hair and fluids) and end users (hospitals, clinics, diagnostic laboratories, forensic laboratories and rehabilitation centers), in seven key regions of the world.

Who we are:

Persistence Market Research (PMR), as a third-party research organization, works through a unique fusion of market research and data analytics to help companies rise to the top, regardless of the turmoil faced due to financial / natural crises.

Contact us:

Persistence Market Research
Address - 305 Broadway, 7th Floor, New York City, NY 10007 United States
US Ph. - + 1-646-568-7751
USA-Canada Toll Free - +1 800-961-0353
Sales  - sales @ persistencemarketresearch
Site web .com - https://www.persistencemarketresearch.com

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Archit Sanjay

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Archit Sanjay
Joined: April 12th, 2021
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