Industry Analysis & Industry Trends
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 during the economic recovery. 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. 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. This growth is anticipated to continue over the next five years.... purchase to read more
Industry Report - Starting a New Business Chapter
The Toxicology Laboratories industry is typified by low barriers to entry. Overall, the industry has low barriers to entry, which can be partly attributed to the industry's high level of fragmentation. Due to many toxicology laboratories catering to local or regional market niches, such as local law enforcement, potential industry entrants benefit from low barriers to entry. However, new industry entrants may grapple with incumbent firms having contracts with markets, such as large businesses and the law enforcement sector, thereby adding to barriers to entry.
Further adding to the industry's barriers to entry, new industry entrants contend with relatively high purchase expenditures. In the next five years, the industry's barriers to entry will likely rise... purchase to read more