LeapZipBlog: Johnson Paul's blog: Specimen Validity Test (SVT) Reagents Market Is Expected To Reach US$ 1,341.9 Mn by 2025

Specimen Validity Test (SVT) Reagents Market Is Expected To Reach US$ 1,341.9 Mn by 2025

September 23, 2019 by Johnson Paul  

According to the latest market report published by Credence Research, Inc. “Specimen Validity Test (SVT) Reagents Market By Location Type (On-Site Screening, Laboratory-based Screening) - Growth, Future Prospects and Competitive Analysis, 2017 - 2025” 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.

Market Insights:

Specimen validity test (SVT) is generally performed on the urine sample for the screening of drugs and its metabolite in order to detect, adulteration or dilution of urine specimen. 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.

Browse the full report at https://www.credenceresearch.com/report/specimen-validity-test-svt-reagents-market

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.

Market Competition Assessment:  

The specimen validity test (SVT) reagents market is currently dominated by two players such as Sciteck, Inc., Thermo Fischer Scientific. However, there are number of specimen validity test performing laboratories are present in North America such as American Screening Corporation, Inc., American Bio Medica Corporation, Geisinger Health System, HireRight, LLC, LabCorp, Mayo Medical Laboratories, Options Lab, Inc., Quest Diagnostics, Inc., Redwood Toxicology Laboratory, SciTest Laboratories, Inc. and Other.

Download Free PDF Sample Request: https://www.credenceresearch.com/sample-request/58748

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.

By Location Type

  • On-Site Screening
  • Laboratory-based Screening

By Geography Segment

  • North America
  • Europe
  • Asia Pacific (APAC)
  • Middle East & Africa (MEA)
  • Latin America

 

Medium Blog: https://medium.com/@kumarganesh028/specimen-validity-test-svt-reagents-market-is-expected-to-reach-us-1-341-9-mn-by-2025-d47c5c629be8