DTC Laboratory Testing Market is projected to reach $7.92 billion by 2030


Posted April 16, 2024 by Richasinha

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 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. Direct-to-consumer laboratory tests are tests that can be self-ordered by consumers without the involvement of their healthcare providers. The sample collected from the consumer is processed at a laboratory, and the results are sent directly to the consumer.
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/direct-to-consumer-laboratory-testing-market-5351

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.


Based on ApplicationThe large market share of this segment is attributed to the rising appeal of DTC genetic testing to explore information regarding family health history and disease risk assessment testing, the launch of new DTC genetic tests for new applications and increasing curiosity among people in developed countries regarding their ancestry and lineage. DTC genetic tests identify individuals at risk of specific conditions to reduce mortality and morbidity through timely screening, surveillance, and prevention. Download Free Sample Report here: https://www.meticulousresearch.com/download-sample-report/cp_id=5351
Based on Sample Type
The large market share of this segment is attributed to the benefits of blood samples, such as the high reliability of the results, the wide range of test options available, and the convenience of at-home blood collection service.
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Asia Pacific: The Fastest Growing Market
Asia-Pacific is slated to register the highest CAGR during the forecast period. The factors driving the growth of the DTC laboratory testing market in Asia-Pacific are the increasing prevalence of infectious & chronic diseases and the increasing awareness in people regarding disease risk prediction and healthy lifestyle.
Key Players
The report includes a competitive landscape based on an extensive assessment of the product portfolio offerings, geographic presences, and key strategic developments in leading industry market players over the past 3–4 years. The key players profiled 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.).
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Issued By meticulous research
Country India
Categories Health
Tags dtc lab testing
Last Updated April 16, 2024