$4.5bn
$XXX.Xm
18,962
396
$X.Xbn
In the US, toxicology labs play a crucial role in keeping communities safe by testing for harmful substances in everything from crime scenes to workplace environments. The rise in prevalence of drug use, expanded public and private insurance coverage and increases in employment have been key demand drivers of toxicology services. While point-of-care and at-home tests serve individual and small business needs, employers and government entities often require extensive analysis from comprehensive toxicology testing. The pandemic significantly impacted the industry. Business closures and high unemployment rates caused a sharp drop in new employee drug testing. However, despite the closure, the robust recovery allowed industry-wide revenue to grow at a CAGR of 4.5%, with projections estimating the market will reach $4.5 billion by 2024. Revenue for 2024 is expected to strengthen by 2.3% in 2024 alone, demonstrating ongoing resilience.
Industry revenue has grown at a CAGR of 4.5 % over the past five years, to reach an estimated $4.5bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Abbott Laboratories | 705.8 | 159.3 | 22.6 | |
Laboratory Corporation Of America Holdings | 585.9 | 84.5 | 14.4 | |
Quest Diagnostics Inc. | 418.5 | 69.0 | 16.5 |
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Industry revenue is measured across several distinct product and services lines, including Urine testing, Hair testing and Saliva testing. Urine testing is the largest segment of the Toxicology Laboratories in the US.
Urine testing remains the dominant service in toxicology labs
This industry receives and independently analyzes samples of biological material for various toxins, primarily drugs. Services include blood testing, saliva testing and urine testing. Employers, the medical community and law enforcement are major purchasers of this industry’s services.
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NAICS 62151 - Toxicology Laboratories in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Rising demand for drug testing drives industry growth. With increased concerns over illicit drug use, toxicology labs are experiencing a surge in service demand, leading to t...
Learn about an industry's products and services, markets and trends in international trade.
Urine testing leads in toxicology resulting from its simplicity and high metabolite concentration. Hair testing is crucial in serious investigations, while blood, sweat and b...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Laboratories are predominantly located in densely populated areas. This concentration bolsters regional development, particularly in the Southeast, West, and Southwest, which...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Consolidation in the healthcare sector intensifies competition, with lower test prices becoming a focal point. More extensive networks use their scale to provide discounted t...
Learn about the performance of the top companies in the industry.
Large laboratories are testing toxicology lab independence. Companies like Quest Diagnostics and Abbott Laboratories offer various lab services and hold sizable stakes in tox...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Government and private support are crucial for the industry. Aid from NIH, NSF, FDA and EPA, alongside private backing, helps labs adopt advanced technologies, boost efficien...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Rising wages challenge profitability, demanding more skilled employees for advanced automation. As labs raise wages, test efficiency and quality are impacted, ultimately affe...
Including values and annual change:
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Key data sources in the US include:
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The market size of the Toxicology Laboratories in the US industry in United States is $4.5bn in 2024.
There are 396 businesses in the Toxicology Laboratories in the US industry in United States, which has grown at a CAGR of 8.4 % between 2019 and 2024.
The market size of the Toxicology Laboratories in the US industry in United States has been growing at a CAGR of 4.5 % between 2019 and 2024.
Over the next five years, the Toxicology Laboratories in the US industry in United States is expected to grow.
The biggest companies operating in the Toxicology Laboratories market in United States are Abbott Laboratories, Laboratory Corporation Of America Holdings and Quest Diagnostics Inc.
Alternative testing methods and Predictive toxicology are part of the Toxicology Laboratories in the US industry.
The company holding the most market share in United States is Abbott Laboratories.
The level of competition is moderate and increasing in the Toxicology Laboratories in the US industry in United States.