The North America Toxicology Laboratories Market is expected to grow at an unstoppable rate In Upcoming Years. With environmental health being a matter of concern, everything – right from public transport networks, power supply, and storage of waste to monitoring the ecological balance is being taken up by IoT and AI. It could, thus, be inferred that with “smart cities” would come “smart end-user solutions” in the years to come.
According to a revised report published by Persistence Market Research, the North America toxicology laboratories market is valued at US$ 180 Mn, and is predicted to surge at a CAGR of 11% over the forecast period (2021–2031).
Toxicology 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 perform the diagnosis of numerous controlled substances for excessive consumption with the help of suspect samples such as urine, hair, blood, and oral fluids.
This research examines the numerous devices, reagents, and kits used in forensic laboratories (public and commercial), clinics, rehabilitation centers, hospitals, and diagnostics laboratories to diagnose the amount of substance.
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Clinical research, forensic, and anti-doping toxicology laboratories can now easily and quickly optimize their liquid chromatography-mass spectrometry (LC-MS) methods for targeted screening and quantification, despite the challenges of analyzing increasing numbers of analytes in biological matrices.
Companies involved in the production of drug testing kits and instruments in the U.S. are now focusing on the commercialization of novel reagents that ensure rapid test results. Such initiatives are taken up by companies in view of the large demand-supply gap in toxicology services in the U.S, which is expected to boost the demand for toxicology laboratories in North America.
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Key Takeaways from Market Study
“The market is expected to witness significant growth in the near future owing to growing awareness regarding drug product safety along with advancements in technology,” says an analyst of Persistence Market Research.
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Government Initiatives towards Toxicology Laboratories
Government officials are enforcing strict regulatory norms to prevent the misuse of regulated substances, which, in turn, is leading to a rise in the use of toxicology testing across the North American market.
The U.S. Controlled Substances Act controls the manufacturing, distribution, and dispensing of controlled substances across the U. S. The Controlled Substances Act (CSA) establishes a unified legal framework to regulate certain drugs that are deemed to pose a risk of abuse and dependence. The CSA may apply to drugs that are medical or recreational, and legally or illicitly distributed.
Such stringent government regulations have also mandated the drug monitoring of employees at their workplace. Before granting any reimbursement to claimants, insurance service providers conduct toxicological tests.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the North America toxicology laboratories market in its latest study, presenting historical demand assessment of 2016 – 2021 and projections for 2021 – 2031.
The research study is based on drug class (alcohol, amphetamines, barbiturates, benzodiazepines, illicit drugs, opiates/opioids, tricyclic antidepressants, and Z drugs), product (reagents & kits and instruments), sample (urine, blood, hair, and oral fluids), and end user (hospitals, clinics, diagnostic laboratories, forensic laboratories, and rehabilitation centers), across seven key regions of the world.
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