The Toxicology Laboratories industry has experienced steady growth over the past five years as demand for employee drug testing, the industry's largest product segment, rose in line with increased employment and general economic expansion. Underpinning growth in employee toxicology testing is the trend of increasing illicit drug use in the United States, the economic costs of which have been substantial over the five years to 2019. To avoid productivity losses, most businesses have required drug tests of workers, at least upon initial employment, which has driven steady revenue growth for the industry. Revenue growth is anticipated to continue over the next five years. However, it is anticipated to rise slower, as the incarceration rate is expected to fall over the five years to 2024.
This industry receives and independently analyzes samples of biological material for various toxins, primarily drugs. Services include blood testing, saliva testing and urine testing. Employers, the medical community and law enforcement are major purchasers of this industry’s services.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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