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


Posted May 24, 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.
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The growth of the direct-to-consumer (DTC) laboratory testing market is fueled by heightened awareness of personal health management, the convenience, affordability, and accessibility of DTC testing, the increasing prevalence of chronic and infectious diseases, rising healthcare costs, growing consumer interest in ancestry and genealogy testing, and the expanding elderly population. However, challenges such as sample integrity and interference issues, regulatory concerns, lack of reimbursements, and a more limited range of tests compared to traditional laboratory testing are restraining market growth.

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.


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Based on Application, The significant market share of this segment can be attributed to the increasing interest in direct-to-consumer (DTC) genetic testing, driven by the desire to uncover family health history, assess disease risks, and explore ancestry and lineage. The launch of new DTC genetic tests for various applications further contributes to this appeal, especially in developed countries. DTC genetic tests play a crucial role in identifying individuals at risk of specific conditions, facilitating timely screening, surveillance, and prevention measures to reduce mortality and morbidity.
Based on Sample Type
The significant market share of this segment stems from the advantages associated with blood samples, including the high reliability of results, the diverse range of available test options, and the convenience offered by at-home blood collection services.
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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 richa
Country India
Categories Health
Last Updated May 24, 2024