Industry Analysis & Industry Trends
The Toxicology Laboratories industry has experienced steady growth during 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. In order 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 SWOT Analysis Chapter
The Toxicology Laboratories industry is in the growth stage of its life cycle, characterized by growth stronger than the overall economy, high technological change, increasing market acceptance and consolidation by the industry's largest players. Over the past five years, the industry has experienced accelerated growth as the US economy recovers from the depths of the recession. Corporate profit margins have expanded quickly and as a result, corporations are taking on new employees, which creates demand for drug testing programs.
Industry value added (IVA), a measure of the industry's contribution to the overall economy, is projected to grow at an average annual rate of 3.8% over the 10 years to 2019... purchase to read more