Redding, California, Oct. 20, 2022 (GLOBE NEWSWIRE) -- According to a new market research report, ‘Direct-to-Consumer Laboratory Testing Market by Application (Genetic Testing, COVID-19, Diabetes, STD, Risk Assessment, Cancer, Routine Testing, CBC, CNS, TSH), Sample Type (Saliva, Urine, Blood, Nasopharyngeal, Fecal) - Global Forecast to 2029,’ published by Meticulous Research®, the DTC Laboratory Testing Market is projected to reach $14.61 billion by 2029, at a CAGR of 21.2% during the forecast period 2022–2029.
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DTC testing enables consumers to order laboratory tests without the involvement of their healthcare provider. The results obtained with these tests can be used to monitor existing health conditions, identify unknown medical conditions, and procure data regarding personal characteristics. There is a rising prevalence of chronic conditions around the globe, which is expected to drive the growth of the DTC laboratory testing market. For instance, according to the International Agency for Research on Cancer, it is estimated that the number of new cancer cases in Asia will rise to around 12.3 million by 2030 from 9.5 million in 2020. Similarly, in Europe, 4.9 million cancer cases by 2030 from 4.3 million in 2020.
Due to several regulations and restrictions, people could not order a laboratory test independently without a physician's authorization. With the emergence of DTC tests, people can now order laboratory tests directly without the involvement of their physicians. The DTC testing industry has observed significant growth, which is attributed to the increasing involvement of the people in their health decisions and their exploration of new ways to participate in the decisions affecting their healthcare. This is expected to drive the growth of the DTC laboratory testing marker in the future as well.
Impact of the COVID-19 Pandemic on the DTC Laboratory Testing Market
During the COVID-19 pandemic, the lockdowns and travel restrictions affected several industries. These restrictions resulted in reduced import-export activities, disruption of supply chain management, and limited industrial work, which negatively impacted the market.
The DTC testing laboratories provided self-test kits for consumers to test for COVID-19 and played a vital role in the fight against the pandemic. Several DTC laboratory testing companies focused on molecular and immunological tests for innovation in DTC testing, leading to the growth of the DTC laboratory testing market through the pandemic.
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As self-isolation practices were adopted during the pandemic due to the risk of getting infected with the virus at the testing centers and hospitals, there was an increased demand for easy-to-use rapid tests. This resulted in the development of antigen antibody-based tests. DTC laboratory testing market witnessed a growth in the pandemic, which is expected to continue even after the pandemic because of the increasing prevalence of diseases and ease of accessibility to consumers.
Based on application, in 2022, the genetic testing segment is expected to account for the largest share of the DTC lab testing Market. The large market share of this segment is attributed to the rise in the appeal of DTC genetic testing to explore information regarding family health history and predictive testing, high curiosity among people in developed countries regarding their ancestry and lineage, and the launch of DTC genetic tests for new applications. For instance, in March 2022, Ancestory.com LLC (U.S.) launched introvert and extrovert test results in the reports. This test analyzes DNA factors responsible for being introverted and extroverted. Moreover, in March 2019, 23nadMe, Inc. (U.S.) launched its offering under which the company will provide a genetic health predisposition report on Type 2 diabetes.
Based on sample type, in 2022, the saliva segment is expected to account for the largest share of the DTC Laboratory Testing Market. Factors contributing to the large share of this segment include the convenience and simplicity of saliva sample collection as well as the easy transport of samples compared to other sample types such as blood.
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Based on geography, in 2022, 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 and high awareness regarding risks of diseases in the future support the large share of this market. However, 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.
The report includes an extensive assessment of the product portfolio, geographic analysis, and key strategic developments of the industry's leading market participants in the last four years (2019–2022). The DTC Laboratory Testing Market has witnessed several product launches, enhancements, approvals, partnerships & agreements, expansions, and acquisitions. For instance, in May 2022, Laboratory Corporation of America Holdings (U.S.) launched its Neurofilament Light Chain (NFL) blood test to identify and verify signs of neurodegenerative disease. Furthermore, in June 2020, Quest Diagnostics Incorporated (U.S.) received emergency use approval from the FDA for its Quest Diagnostics Self-collection Kit for COVID-19.
Some of the key players operating in this market are Quest Diagnostics Incorporated (U.S.), Laboratory Corporation of America Holdings (U.S.), EverlyWell, Inc. (U.S.), DirectLabs, LLC (U.S.), Ancestry.com, LLC (U.S.), 23andMe, Inc. (U.S.), MyMedLab, Inc. (U.S.), ANY LAB TEST NOW (U.S.), WellnessFx, Inc. (U.S.), LetsGetChecked, Inc. (U.S.), and Myriad Genetics, Inc. (U.S.).
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
Scope of the Report:
Direct-to-Consumer (DTC) Laboratory Testing Market, by Application
- Genetic Testing
- COVID-19
- Cancer
- Diabetes Testing
- Disease Risk Assessment Testing
- Sexually Transmitted Disease Testing
- Routine Testing
- Complete Blood Count
- CNS-related/Neurological Disease
- Thyroid Stimulating Hormone Testing
- Other Applications
(Note: The other applications segment comprises drug screening, infectious disease testing, and stool testing)
Direct-to-Consumer (DTC) Laboratory Testing Market, by Sample Type
- Saliva
- Urine
- Blood
- Other Sample Types
(Note: The other sample types segment comprises stool, nasopharyngeal swab, vaginal swab, buccal swab, and semen)
Direct-to-Consumer (DTC) Laboratory Testing Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- Japan
- China
- India
- Rest of APAC (RoAPAC)
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America (RoLATM)
- Middle East & Africa
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