According to the latest market report published by Credence Research, Inc. “Specimen Validity Test (SVT) Reagents Market – 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.
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 Specimen Validity Test (SVT) Reagents Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025 report at http://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.
Request Sample: http://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.
Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we’ve manufactured a firm extraordinarily prepared to this task.
Who we are
Credence Research is a worldwide firm, containing more than 15 research consultants and almost 100 research and information professionals.
Our customers mirror our worldwide nature. Around 45% are in Europe, 30% in the Americas, 13% in Asia Pacific and 12% in the Middle East and Africa.
Our firm is intended to work as one. We are a solitary global research organization united by a solid arrangement of qualities, concentrated on customer effect.
What we do
We serve customers at each level of their organization, in whatever limit we can be most helpful, whether as a trusted counsel to top management or as a hands-on mentor for forefront representatives. For each engagement, we collect a group with the most suitable experience and ability.
No matter the challenge, we concentrate on delivering functional and persevering results and preparing our customers to develop and lead. We join forces with customers to place suggestions into practice. Our research specialist works straightforwardly with customers over long stretches to create workforce aptitudes, drive operational change, and apply new working strategies.
Name: Chris Smith
Designation: Global Sales Manager