Meticulous Research®—a leading global market research company, published a research report titled, ‘Direct-to-Consumer (DTC) 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.’
According to this latest publication from Meticulous Research®, the global 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. The growth of the DTC laboratory testing market is attributed to the easy accessibility to DTC tests, the growing awareness regarding family health history and predictive testing, the increasing need for early disease diagnosis, the increasing prevalence of chronic and infectious diseases, and the rising geriatric population that prefers convenient care. Moreover, the adoption of telehealth is creating growth opportunities for this market. However, the sample integrity and interference issues limit the market growth. Additionally, misinterpretation of test results and genetic data privacy concerns pose a challenge to this market.
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DTC laboratory testing market: Future Outlook
The global DTC laboratory testing market is segmented by application (genetic testing, COVID-19, diabetes testing, sexually transmitted disease testing, cancer, disease risk assessment, routine testing, complete blood count, CBS-related/neurological diseases, thyroid stimulating hormone, 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.
Based on application, in 2022, 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 2022, the saliva 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 its benefits, such as simple, reliable, and non-invasive sample collection and convenient sample packaging and transport to testing labs.
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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 (Brazil, Mexico, Argentina, and Rest of Latin America), and the Middle East & Africa. 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.
The key players operating in the global DTC laboratory testing 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.).
Key questions answered in the report-
- What is the current value of revenue generated by DTC laboratory testing products across the globe?
- At what rate is the demand for global DTC laboratory testing products projected to grow for the next 5-7 years?
- What is the historical market size and growth rate for DTC laboratory testing across the globe?
- What are the major factors impacting the growth of this market at the global and regional levels? What are the major opportunities for existing market players and new entrants in the market?
- What impact does the current COVID-19 pandemic have on the DTC laboratory testing market at various levels in the value chain?
- Which segments in terms of the application and sample type are creating the major traction for the vendors in this market?
- What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the vendors operating in the Global DTC laboratory testing market?
- Who are the major players in the Global DTC laboratory testing market? And what are their specific products in the DTC laboratory testing industry?
- What recent developments have taken place in the global DTC laboratory testing market, and how these strategic developments are creating a global impact in this market?
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