Direct-to-Consumer Laboratory Testing Market: Growing Consumer Preference to Perform Tests with Confidentiality Boosts Market Growth
Direct-to-Consumer Laboratory Testing Market: Introduction
According to the report, the global direct-to-consumer laboratory testing market was valued at US$ 2.4 Bn in 2020. It is projected to expand at a CAGR of ~26% from 2021 to 2031. Direct-to-consumer (DTC) laboratory testing, also known as direct access testing, enables patients to order tests directly from a laboratory without having to go through their healthcare practitioner. These test results can be used to track a current health condition, diagnose a previously undiagnosed medical issue, or provide information on personal health traits. DTC laboratory testing is an important part of ongoing attempts to improve people's engagement in their healthcare, and it is critical that the results are accurate and accessible. Laboratory professionals play a critical part in this process.
The prevalence of various lifestyle-associated and infectious diseases such as obesity, hypertension, diabetes, cancer, and STD has increased. This is likely to augment the demand for direct-to-consumer (DTC) laboratory testing for early diagnosis. According to the Centers for Disease Control and Prevention, heart diseases account for nearly 655,000 deaths in the U.S. each year. Cancer is a leading cause of death across the world. A majority of cancer cases are caused due to lifestyle-related factors. Various DTC test kits are available for testing and detection of both health and lifestyle-related diseases.
Request Brochure of Report - https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=75779
Moreover, a surge in the demand for early disease detection & diagnosis coupled with personalized medicines is anticipated to drive the direct-to-consumer (DTC) laboratory testing market. Furthermore, an increase in the geriatric population vulnerable to chronic illnesses drives the demand for direct-to-consumer laboratory testing. The direct-to-consumer laboratory testing market in Asia Pacific is expected to expand at a CAGR of 31.6% from 2021 to 2031. Increased awareness initiatives and developments conducted by government organizations to promote genetic research in countries across Asia are anticipated to drive the market in the region.
Increase in Emphasis on Patient-driven Healthcare to Fuel Market Growth
The direct-to-consumer laboratory testing has highly impacted patient care, its cost, and the role of the laboratory professional. These tests are also referred as consumer-driven testing. In the era of the Internet and social media, consumers seek more control over their health and are willing to pay for this service. The reasons often cited for ordering DTC lab tests include convenience, preparing for a doctor visit, saving money, privacy, getting a second opinion, and obtaining tests not covered by insurance.
Request for Custom Research - https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=75779
Retail outlets such as Walmart, Sam’s Club, and Costco provide one-stop healthcare services. These services include onsite testing for glucose and cholesterol, as well as tests that are later sent out to reference laboratories. Moreover, telemedicine kiosks are available in some outlets with access available to physicians either by telephone or the Internet. Hence, surge in emphasis on patient-driven healthcare and easy access to patients as consumers through the Internet and media are expected to drive the direct-to-consumer laboratory testing market.
Genetic Testing Dominated Direct-to-Consumer Laboratory Testing Market
Based on test type, the global direct-to-consumer laboratory testing market has been classified into genetic testing, disease risk assessment testing, CBC, diabetes testing, TSH testing, and others. The disease risk assessment testing segment has been split into cancer, STDs, and others. The genetic testing segment dominated the global direct-to-consumer laboratory testing market in 2020, and the trend is anticipated to continue during the forecast period. The dominance can be attributed to the increase in consumer awareness, emerging culture of consumer empowerment, and demand for increasingly personalized services. Moreover, an increase in the number of market players offering direct-to-consumer genetic test kits is also projected to augment the segment.
Saliva to be Preferred Sample Type
Based on sample type, the global direct-to-consumer laboratory testing market has been classified into blood, urine, saliva, and others. The saliva segment held a major share of the market in 2020. The segment is anticipated to expand at a significant CAGR during the forecast period. The significant increase in the number of users of key market players, such as Ancestry and 23 and me, offering saliva based DNA test is anticipated to boost the segment.
Request for Analysis of COVID-19 Impact on Direct-to-Consumer Laboratory Testing Market - https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=75779
Diagnostic Centers Held Major Share of Direct-to-Consumer Laboratory Testing Market
In terms of end user, the global direct-to-consumer laboratory testing market has been split into hospitals, clinics, specialty labs, and diagnostic centers. The diagnostic centers segment dominated the market in 2020. Focus of new entrants on establishment of standalone laboratories is a key factor that is projected to propel the segment during the forecast period.
North America to Lead Global Market, Asia Pacific to Offer Significant Opportunities
In terms of region, the global direct-to-consumer laboratory testing market has been segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America is projected to account for a prominent share of the global direct-to-consumer laboratory testing market during the forecast period. The rise in prevalence of various lifestyle associated and infectious diseases such as obesity, diabetes, cancer, and STD is estimated to boost the demand for direct-to-consumer laboratory testing for early diagnosis in North America during the forecast period. The market in Europe is anticipated to expand at a high CAGR in the near future. The rise in consumer awareness and enhancing lifestyles are also projected to fuel the market.
The direct-to-consumer laboratory testing market in Asia Pacific is projected to expand at a rapid pace in the near future. This can be attributed to increased awareness initiatives and developments conducted by government organizations to promote genetic research in countries across Asia.
Buy Direct-to-Consumer Laboratory Testing Market Report - https://www.transparencymarketresearch.com/checkout.php?rep_id=75779<ype=S
Growth Strategies of Key Players
Key players operating in the global direct-to-consumer laboratory testing market are Laboratory Corporation of America Holdings, Quest Diagnostics Incorporated, and 23andMe, Inc., EverlyWell, Inc., DirectLabs, LLC, Ancestry, MyMedLab, Inc., WellnessFX, ANY LAB TEST NOW, LetsGetChecked, and Color Genomics.
Browse More Trending Reports by Transparency Market Research:
Flow Diversion Aneurysm Market: https://www.transparencymarketresearch.com/flow-diversion-aneurysm-market.html
Whipple’s Disease Market: https://www.transparencymarketresearch.com/whipples-disease-market.html
Bacteremia Treatment Market: https://www.transparencymarketresearch.com/bacteremia-treatment-market.html
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
Mr. Rohit Bhisey
Transparency Market Research
90 State Street,
Albany NY - 12207
USA - Canada Toll Free: 866-552-3453