New York, March 15, 2016 (GLOBE NEWSWIRE) -- Persistence Market Research delivers key insights on the North America Toxicology Laboratories Market in its latest outlook titled “North America Market Study on Toxicology Laboratories: Increasing Usage of Toxicology Testing Services in Crime Investigation is Expected to Drive the Growth of Toxicology Laboratories”.
The North America Toxicology Laboratories market is expected to reach US$ 198.2 Mn by the end of 2022 at a CAGR of 11.1% during the forecast period. On the basis of drug class, the North America toxicology laboratories market is segmented into alcohol, amphetamines, barbiturates, benzodiazepines, opiates/opioids, tricyclic antidepressants, and Z-Drugs. Weak regulatory control on prescription drugs with regard to over-the-counter purchases has been resulting in increased substance abuse and for amphetamines in particular. This increased consumption is fueling the demand for drug toxicology testing of amphetamines across the U.S. Amphetamines drug toxicity testing segment has been estimated to contribute highest in terms of revenue, accounting for 27.7% of the total toxicology laboratories market share in 2015. The opiate/opioids drug class segment has been estimated to be the fastest-growing segment of the North America toxicology laboratories market, registering a CAGR of 13.3% during the forecast period.
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North America toxicology laboratories market is majorly driven by increasing abuse of controlled substances and drugs, increased expenditure by the government agencies on toxicity testing to control consumption of illegal drugs, and favorable reimbursement policies for conducting toxicity testing across workplaces. Additionally, commercial availability of high-end drug testing instruments, and economical, rapid, and effective methods to conduct drug testing is expected to drive the growth of the North America toxicology laboratories market. However, the introduction of point-of-care toxicology testing devices, longer wait time for sample testing in laboratories, and limited efficacy of conventional techniques are factors likely to impede the growth of the North America toxicology laboratories market over the forecast period.
On the basis of sample type, the North America toxicology laboratories market is segmented into, urine, blood, hair, and oral fluid type segments. Urinalysis is one the most prominent techniques used to analyze toxicity in urine samples. This is due to its non-invasive approach, which promotes application in analyzing alcohol, opioids, and amphetamine drug traces and levels in samples. The urine sample segment has been estimated to account for ~62% revenue share in overall toxicology laboratories market in 2015.
Table of Content: http://www.persistencemarketresearch.com/toc/9707
The U.S. toxicology laboratories market has been estimated to account for over 83% revenue share of the overall North America toxicology laboratories market in 2015. This is attributed to substantially high levels of drug abuse and unregulated prescribing patterns for hallucination drugs such as amphetamines, barbiturates, benzodiazepines, tricyclic antidepressants, and Z Drugs.
The report begins with an overview of the North America toxicology laboratories market in terms of value, and a detailed analysis of key trends, drivers, and restraints, and opportunities, which are the main factors impelling growth of the toxicology laboratories market are covered in this section. Impact analysis of key growth drivers and restraints based on the weighted average of each of these factors in a model-based approach is included in the report. The report provides in-depth information on the potential scope of high-end confirmatory testing instruments to provide clients with crystal clear decision-making insights.
Browse through the full Global Toxicology Laboratories Market Report at http://www.persistencemarketresearch.com/market-research/north-america-toxicology-laboratories-market.asp
Key players operating in the North America toxicology laboratories market include Thermo Fisher Scientific, Agilent Technologies, Bio Rad Laboratories Inc., Alere Inc., Eurofins Scientific, Neogen Corporation, Enzo Life Sciences, Inc., and Vala Sciences Inc. Presence of vast demand-supply gap in toxicology sample processing is compelling manufacturers to develop point-of-care toxicity testing instruments, which would enable rapid testing of drug samples. As results, the U.S. toxicology laboratories market is largely influenced by handheld drug testing instruments and this is expected to be one of the key areas for investment.
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Source:Persistence Market Research