DTC Laboratory Testing Market to be Worth $7.92 Billion by 2030

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     DTC Laboratory Testing Market to be Worth $7.92 Billion by 2030

 

 

 

 

 

 


 


Meticulous Research®—a leading global market research company, published a research report titled, ‘Direct-to-consumer (DTC) Laboratory Testing Market By Application (Genetic Testing {Ancestry, Carrier Status, Disease Risk [Cancer, Neurological, Cardiac]}, Diabetes, COVID, STD, Routine, CBC), Sample Type (Saliva, Urine, Blood) - Global Forecast to 2030.’

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According to this latest publication from Meticulous Research®, the DTC laboratory testing market is projected to reach $7.92 billion by 2030, at a CAGR of 10.9% during the forecast period 2023–2030. The growth of the direct-to-consumer laboratory testing market is driven by the increased awareness about personal health management, the benefits of DTC laboratory testing such as convenience, affordability, and accessibility, the increasing prevalence of chronic & infectious diseases, increasing healthcare costs, rising consumer awareness about ancestry/genealogy testing, and the rising elderly population. However, sample integrity and interference issues, regulatory concerns, the lack of reimbursements, and the lack of extensive test portfolios compared to conventional laboratory testing are restraining the growth of this market.

The growing adoption of telehealth, the rising popularity of DTC laboratory testing in emerging economies, and the increasing penetration of DTC pharmacogenomic testing are expected to generate growth opportunities for the players operating in this market. However, concerns regarding the security and privacy of genomic data, misinterpretation of test results, and the lack of professional medical counseling are major challenges to market growth.

Key Players

The key players operating in the global DTC laboratory testing market are Quest Diagnostics Incorporated (U.S.), Laboratory Corporation of America Holdings (U.S.), 23andMe Holding Co. (U.S.), Myriad Genetics, Inc. (U.S.), Everlywell, Inc. (U.S.), DirectLabs, LLC. (U.S.), Ancestry.com, LLC (U.S.), MyMedLab, Inc. (U.S.), ANY LAB TEST NOW (U.S.), Thorne HealthTech, Inc. (U.S.), and LetsGetChecked, Inc. (U.S.).

Other than these, there are several regional players such as Color Health, Inc. (U.S), Laboratoire CERBA (France), MyHeritage Ltd. (Israel), Genova Diagnostics Inc. (U.S.), Gene by Gene, Ltd. (U.S.), Metropolis Healthcare Limited (India), Vitagene (U.S.), SRL Limited (India), Hirotsu Bio Science (Japan), Ambry Genetics Corporation (U.S.), Mapmygenome India Limited (India), FamilyTreeDNA (U.S.), Genera (Brazil), Veritas Intercontinental (Spain), Medichecks.com Ltd. (U.K.), EasyDNA (U.S.) (Subsidiary of Genetic Technologies Limited (Australia), Cerascreen Biotech LLC (U.K.), and Living DNA Ltd (U.K.).

DTC Laboratory Testing Market: Future Outlook

The global DTC laboratory testing market is segmented by application (genetic testing [ancestry/genealogy, diseases risk assessment {cancer, cardiovascular diseases, neurological diseases, and other diseases}, carrier status, other genetic tests], routine clinical testing, diabetes testing, COVID-19, sexually transmitted disease testing, thyroid function testing, and other applications); sample type (saliva, urine, blood, and other sample types), and geography. The study also evaluates industry competitors and analyzes the regional and country-level markets.

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Based on application, in 2023, the genetic testing segment is expected to account for the largest share of the DTC laboratory testing market. The large market share of this segment is attributed to the rising adoption of DTC genetic testing to explore information regarding family health history and predictive testing, the launch of DTC genetic tests for new applications, and high awareness among people in developed countries regarding their ancestry and lineage. DTC lab testing for genetic testing identifies an individual at risk of specific conditions and reduces mortality and morbidity through timely screening, surveillance, and prevention. For instance, in 2022, the WHO reported that around 41 million people succumb to non-communicable diseases every year, accounting for 74% of total deaths globally. Predictive testing and knowing family history regarding chronic conditions, coupled with a healthy lifestyle and preventative measures, may reduce the risk of diseases in the future.

Based on sample type, in 2023, the blood segment is expected to account for the largest share of the DTC laboratory testing market. The large market share of this segment is attributed to factors such as a large variety of available tests using blood samples, increasing prevalence of various chronic diseases, and increasing consumer awareness regarding the monitoring of chronic diseases.

Geographic Review

This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and the Rest of Europe), Asia-Pacific (Japan, China, India, and Rest of Asia-Pacific), Latin America, and the Middle East & Africa. Based on geography, in 2023, North America is expected to account for the largest share of the global DTC lab testing market, followed by Europe and Asia-Pacific. The high prevalence of chronic diseases, high personal disposable income and high awareness regarding risks of diseases in the future support the large share of this market in North America.

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Key questions answered in the report-

·  Which are the high-growth market segments in terms of applications, sample type, and region/country?

·  What was the historical market size for DTC laboratory testing across the globe?

·  What are the market forecasts and estimates for the period 2023–2030?

·  What are the major drivers, restraints, opportunities, and challenges in the global DTC laboratory testing market?

·  Who are the major players in the DTC laboratory testing market?

·  How is the competitive landscape, and who are the market leaders in the global DTC laboratory testing market?

·  What are the recent developments in the global DTC laboratory testing market?

·  What are the different strategies adopted by the major players in the global DTC laboratory testing market?

·  What are the geographical trends and high-growth regions/countries?

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Meticulous Research®
Email- sales@meticulousresearch.com
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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