North America Toxicology Laboratories Market to Witness Moderate Growth Rate During 2021 to 2027
Industrial Growth Forecast Report North America Toxicology Laboratories Market 2021-2027: The Global North America Toxicology Laboratories Market Report provides Insightful information to the clients enhancing their basic leadership capacity identified with the global North America Toxicology Laboratories Market business, including market dynamics, segmentation, competition, and regional growth. The strategy of expansion has been adopted by key players who are increasing their production capacities to cater to the increasing demand for various application.
Toxicology research is a branch of science concerned with the discovery of toxins and controlled agents, as well as their legal, medicinal, and industrial implications. Toxicology research laboratories use suspect samples including vomit, hair, blood, and oral fluids to diagnose a variety of controlled drugs for improper intake.
By the end of 2027, the North American toxicology laboratories market is expected to be worth US$ 317.1 million.
Over the forecast period, rising knowledge of traditional toxicology testing instruments is expected to fuel the growth of the North American toxicology laboratories market. Due to the high intake of controlled drugs in these countries, there is a high need for traditional toxicology monitoring instruments in the U.S. and Canada. Traditional research technology is used by the majority of publicly funded toxicology laboratories (forensic laboratories). This is attributable to the high performance and low cost of these instruments. Traditional systems are heavily used in toxicology labs in hospitals and medical research centers due to cost savings.
Furthermore, the market’s development is expected to be supported by the availability of low-cost toxicity detection methods. In laboratory toxicity testing, traditional approaches like immunoassay and mass spectrometry are more cost-effective than modern methods like Polymerase Chain Reaction (PCR), high-performance liquid chromatography (HPLC), and others. A single sample test (urine or blood) will cost anywhere from $10 to $50 per sample. Toxicity testing using specialized technologies, on the other hand, could cost between $100 and $150 per sample.
In terms of value, the U.S. dominated the North America toxicology laboratories market in 2018, with an 83.1 percent share, led by Canada.
The introduction of point-of-care toxicology monitoring instruments is likely to stifle the demand for the North America toxicology laboratories market. The growing abuse of controlled substances has resulted in a strong demand for portable toxicology monitoring instruments. As a result, businesses are concentrating their efforts on designing point-of-care toxicology monitoring instruments. The commercialization of point-of-care toxicology monitoring instruments would gradually cut into the market share of traditional toxicology labs, reducing market expansion. Neogen released a compact version of its Raptor Integrated Analysis Platform in April 2019, allowing testers to conduct mycotoxin testing in the lab or anywhere they choose.
Furthermore, the market’s development is projected to be hampered by the reduced effectiveness of traditional strategies. Due to its limited effectiveness, traditional toxicology testing necessitates the use of a confirmatory test. As a result, the average expense of the procedure rises. The restricted effectiveness of traditional toxicity testing methods has resulted in a decrease in their use in critical drug testing.
The rising government spending on toxicity testing to combat illicit drug use is projected to provide attractive growth prospects for players in the North America toxicology laboratories market. The Florida Department of Health reported in December 2019 that four Florida universities have been allocated US$ 650,000 in legislatively-appropriated funds for a new experiment to monitor humans for health hazards from radioactive blue-green algae on the Treasure Coast.
Furthermore, the market’s development is projected to be supported by the convergence of toxicology findings with cloud computing technology. The analytical findings collected from the forensic sample contain sensitive details that must be shared with several agencies. With the support of cloud computing systems, such confidential findings are translated and maintained in toxicology libraries. In the toxicology research industry, certain cloud rival solutions are currently being adopted at a slow pace. However, due to the growing number of samples screened for abusive use, these innovations carry attractive growth prospects in the market in the near future.
The amphetamines segment of the North America toxicology laboratories market was worth US$ 33.3 million in 2018, and is projected to grow at a CAGR of 11.4 percent to US$ 92.9 million by 2027.
Automated toxicity testing systems for drug toxicity testing, especially for controlled drugs, are becoming more widely available. The majority of laboratory equipment suppliers are focusing on the invention of cutting-edge processing devices that can shorten the time it takes to complete drug testing. For non-alcoholic fatty liver disease (NAFLD) and non-alcoholic steatohepatitis, InSphero AG released the 3D InSight Human Liver Disease Discovery Platform in July 2019. (NASH). Scalable in vitro drug efficacy evaluation, sampling, combinatorial testing, and the analysis of complex NASH pathophysiology are all possible with the model.
The market is also seeing a number of main players form partnerships and collaborate. Draper partnered with Bristol-Myers Squibb in June 2019 to create a novel liver tissue model for opioid toxicity testing.
SOFT (Society of Forensic Toxicologist) and the American Academy of Forensic Sciences, together, recommend the ‘Forensic Toxicology Laboratory Guidelines’ pertaining to the basic requirements related to toxicity testing in forensic toxicology labs, including guidelines on the use of screening.
CLIA (Clinical Laboratory Improvement Amendments) program works towards ensuring the quality of laboratory testing in all the clinical laboratories regulated by the Centers for Medicare and Medicaid Services.
Key industry players are concentrating on developing offerings in order to increase their market share. Agilent Technologies Inc. announced the latest iteration of its shared compatibility philosophy in January 2020, allowing joint customers of Agilent Technologies and Thermo Fisher Scientific to monitor analytical instruments from both companies using a chromatography data system from either company—Agilent OpenLab CDS or Thermo Fisher Chromeleon.
Key industry players are now concentrating on product acceptance and launch in order to broaden their product range. The US Food and Drug Administration (FDA) granted Bio-Rad Laboratories, Inc. 510 (k) approval for Bio-IH-500, Rad’s electronic random access device for blood typing and sampling, in April 2019.
Major Key Players Include In North America Toxicology Laboratories Market: InSphero AG, The Charles Stark Draper Laboratory, Inc., Bristol-Myers Squibb Company, Thermo Fisher Scientific Inc., Agilent Technologies, Inc., Bio Rad Laboratories Inc., Eurofins Scientific, Neogen Corporation, Enzo Life Sciences, Inc., and Vala Sciences Inc.
Buy instant copy of this research report with Flat US $ 2000 Off@ – https://www.coherentmarketinsights.com/promo/buynow/3277
Main points in North America Toxicology Laboratories Market Report Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 North America Toxicology Laboratories Market Size Analysis from 2021 to 2027
11.6 COVID-19 Outbreak: North America Toxicology Laboratories Industry Impact
Chapter 2 Global North America Toxicology Laboratories Competition by Types, Applications, and Top Regions and Countries
2.1 Global North America Toxicology Laboratories (Volume and Value) by Type
2.3 Global North America Toxicology Laboratories (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global North America Toxicology Laboratories Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America North America Toxicology Laboratories Market Analysis
Chapter 6 East Asia North America Toxicology Laboratories Market Analysis
Chapter 7 Europe North America Toxicology Laboratories Market Analysis
Chapter 8 South Asia North America Toxicology Laboratories Market Analysis
Chapter 9 Southeast Asia North America Toxicology Laboratories Market Analysis
Chapter 10 Middle East North America Toxicology Laboratories Market Analysis
Chapter 11 Africa North America Toxicology Laboratories Market Analysis
Chapter 12 Oceania North America Toxicology Laboratories Market Analysis
Chapter 13 South America North America Toxicology Laboratories Market Analysis
Chapter 14 Company Profiles and Key Figures in North America Toxicology Laboratories Business
Chapter 15 Global North America Toxicology Laboratories Market Forecast (2021-2027)
Chapter 16 Conclusions
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
Coherent Market Insights
1001 4th Ave, #3200
Seattle, WA 98154
Phone: US +12067016702 / UK +4402081334027
- CDN Newswire