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 - Industry Key Buyers Chapter
The Toxicology Laboratories industry exhibits a low level of market share concentration. The industry is highly fragmented, due to being composed of small toxicology laboratories that primarily cater to regional demand, such as the local law enforcement sector. However, some large-scale companies have entered the market and have provided toxicology testing services to some markets (e.g. employers that have a multitude of establishments) throughout the United States.
Over the past five years, market share concentration has increased as a result of stronger merger and acquisition activity. Most notably, Quest Diagnostics acquired the toxicology and clinical laboratory business of medical-center operator Concentra... purchase to read more