North America Toxicology Laboratories Market, By Drug Class (Alcohol, Amphetamines, Barbiturates, Benzodiazepines, Opiates/Opioids, Tricyclic Antidepressants, and Z Drugs), By Product Type (Instruments (Immunochemistry Analyzers, PCR Machine, Gas Chromatography (GC)-Mass Spectrometry (MS), and High Performance Liquid Chromatography(HPLC) and Reagents & Kits (ELISA, PCR, Enzyme Multiplied Immunoassay Technique (EMIT), and Radio Immuno-sorbent Assay (RIA)), By Sample Type (Urine, Blood, Hair, and Oral Fluids), By End User (Hospitals and Trauma Centers, Forensic Laboratories, Diagnostic Laboratories, and Rehabilitation Centers), and By Country (U.S. and Canada) is estimated to be valued at US$ 271.0 Million in 2023, exhibiting a CAGR of 4.1% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Key market players are focusing on the adoption of organic growth strategies such as product launches, in order to expand their product portfolio, and this is expected to drive the market growth over the forecast period. For instance, on March 13, 2023, Charles River Laboratories International, Inc., a pharmaceutical company, announced the launch of Apollo, an industry-leading, secure, cloud-based platform, for drug developers that provides access to study data, study milestones, documents, cost estimates, and program planning tools to save time, and to enhance the client experience. The platform’s current capabilities are designed to support clients with safety assessment and toxicology studies.
North America Toxicology Laboratories Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China,) in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spreads quickly, and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems regarding transportation of drugs from one place to another.
COVID-19 had a positive impact on the North America toxicology laboratories market. For instance, in August 2021, according to the article published by National Center for Biotechnology Information, during COVID-19, following real-world exposures to several toxic stresses that enhance immune system dysfunction, the primary pandemic-associated virus (SARS-CoV-2, for COVID-19) takes advantage of the weakened immune system to set off a series of events that eventually cause the pandemic.
North America Toxicology Laboratories Market: Key Developments
In April 2019, Bio-Rad Laboratories, Inc., developer and manufacturer of specialized technological products, received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for Bio-Rad’s IH-500, an automated random access system for blood typing and screening.
Browse 35 Market Data Tables and 34 Figures spread through 170 Pages and in-depth TOC on “North America Toxicology Laboratories Market”- Forecast to 2030, North America Toxicology Laboratories Market, By Drug Class (Alcohol, Amphetamines, Barbiturates, Benzodiazepines, Opiates/Opioids, Tricyclic Antidepressants, and Z Drugs), By Product Type (Instruments (Immunochemistry Analyzers, PCR Machine, Gas Chromatography (GC)-Mass Spectrometry (MS), and High Performance Liquid Chromatography(HPLC) and Reagents & Kits (ELISA, PCR, Enzyme Multiplied Immunoassay Technique (EMIT), and Radio Immuno-sorbent Assay (RIA)), By Sample Type (Urine, Blood, Hair, and Oral Fluids), By End User (Hospitals and Trauma Centers, Forensic Laboratories, Diagnostic Laboratories, and Rehabilitation Centers), and By Country (U.S. and Canada)
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Key Takeaways of the North America Toxicology Laboratories Market:
- North America toxicology laboratories market is expected to exhibit a CAGR of 4.1% during the forecast period, due to rising new technologies. For instance, in March 2021, During the 2021 Society of Toxicology (SOT) Annual Meeting, researchers from Swiss-based InSphero AG and from U.S.-based PharmaNest Inc., presented a novel key technology to help drug developers in their search for therapeutics against non-alcoholic steatohepatitis (NASH).
- Among sample type, urine segment is estimated to hold a dominant position in the North America toxicology laboratories market over the forecast period. For instance, in December 2022, Omega Laboratories, a leading provider of laboratory testing solutions, announced the launch of Urine Drugs of Abuse testing services in its state-of-the-art laboratory in Ontario, Canada. The laboratory will offer urine drug testing to complement its molecular testing.
- Major players operating in the North America toxicology laboratories market include 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.
