The global specimen validity test (SVT) reagents market was valued at US$ 832.8 Mn in 2016, and is expected to reach US$ 1,341.9 Mn by 2025, expanding at a CAGR of 5.4% from 2017 to 2025.
It is studied that, in the base year 2016, laboratory based screening was major revenue generating segment due to presence of large number of certified laboratories and stringent guidelines to regulate the accuracy and integrity of the laboratories. However, increasing adoption of stricter regulatory guidelines for pre-employment and random drug testing expected to assist on-site screening market growth during forecast period.
Currently, North America is largest revenue contributor in global SVT reagents market; contributing more than 65 percent of total market share. Stringent guidelines have been structured by the government to overcome adulteration of the drug testing specimen is prime contributor in North America SVT reagent market. Presence of large number of industries and growing number of pre-employment and random drug testing at workplace are another factors that assisting the SVT reagents market growth in North America. However, Asia Pacific is expected to show lucrative growth during forecast period due to developing healthcare infrastructure, rising adoption of stringent regulatory guidelines for drug testing and rising number of drug abuse population.
Key Market Movements:
- Easy availability of adulterants, increase in number of drug abuse population and stringent regulatory guidelines enforced by regulatory agencies are prime factors that are driving the growth of SVT reagent market in North America.
- Increasing number of partnership of key manufacture with local players in developing countries, rising adoption of stricter regulatory guidelines for drug testing and rising number of drug addicted population would assist SVT reagent market growth during forecast period.
Key Topics Covered:
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Specimen Validity Test (SVT) Reagents Market Analysis
Chapter 4 Global Specimen Validity Test (SVT) Reagents Market, by Location Type
Chapter 5 Global Specimen Validity Test (SVT) Reagents Market, By Geography
Chapter 6 Company Profiles
- Sciteck, Inc.
- Thermo Fischer Scientific
- American Screening Corporation, Inc.
- American Bio Medica Corporation
- Geisinger Health System
- HireRight, LLC
- LabCorp (Laboratory Corporation of America)
- Mayo Medical Laboratories
- Options Lab, Inc.
- Quest Diagnostics, Inc.
- Redwood Toxicology Laboratory
- SciTest Laboratories, Inc.
For more information about this report visit https://www.researchandmarkets.com/research/5ckg7n/global_specimen
Laura Wood, Senior Manager
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SOURCE Research and Markets
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