Direct-to-Consumer Laboratory Testing Market Report (2022 to 2030) - Hamilton Company, Danaher Corporation, Beckman Coulter, Inc., Sartorius AG and Eppendorf AG
Growth Plus Reports
7 min read
Growth Plus Reports
Singapore, Feb. 28, 2023 (GLOBE NEWSWIRE) -- According to the deep-dive market assessment study by Growth Plus Reports, the global direct-to-consumer laboratory testing market was valued at US$ 2.78 billion in 2021 and is expected to register a revenue CAGR of 18.3% to reach US$ 17.15 billion by 2030.
Market Drivers
The increased prevalence of chronic diseases is a primary driver of the global direct-to-consumer laboratory testing market. For instance, according to the WHO’s factsheet of September 2022, diabetes is one of the leading causes of blindness, renal failure, stroke, and heart attack. Diabetes cases increased from 108 million to 422 million between 1980 and 2014. The emergence of new technologies, such as artificial intelligence and machine learning, has enabled the development of more accurate and affordable diagnostic products and is a driving factor for the global direct-to-consumer laboratory testing market. Additionally, the rise of telemedicine, with its remote diagnosis capabilities, is likely to drive further growth in the direct-to-consumer laboratory testing market. With the growing trend towards wellness and self-care, many consumers are becoming more interested in their personal health and are seeking ways to access health information and test results easily are fueling the global direct-to-consumer laboratory testing market
The global direct-to-consumer laboratory testing market is analyzed from four perspectives: Sample type, Application, End User, and Region
Based on the sample type, the global direct-to-consumer laboratory testing market is segmented into saliva, urine, blood, nasopharyngeal, stool, and others.
The blood segment in the sample type held the second largest revenue share in 2021, owing to increased test offerings and more reliable results. Direct-to-consumer laboratory testing companies are continually expanding their test offerings to include a wider range of blood-based tests, such as cholesterol and glucose level tests, which has increased consumer awareness and accessibility of these services. Blood tests can provide a wealth of information about a person's health, and can be ordered easily and conveniently through direct-to-consumer laboratory testing companies. Direct-to-consumer blood testing is often less expensive than testing ordered through a healthcare provider, which can make it a more affordable option for individuals who are paying for their own healthcare. Blood tests are widely recognized for their reliability and accuracy, which makes them a valuable tool for individuals who are seeking health information. These overall factors contribute to blood segment growth.
Excerpts from ‘ByEnd UserSegmentation’
Based on the end user, the global direct-to-consumer laboratory testing market is segmented into hospitals, diagnostics centers, and reference laboratories.
Diagnostics centers led the market in 2021, with the highest revenue share, as customer demand for diagnostic services rose as they sought more convenient and accessible methods to receive health information. Direct-to-consumer diagnostic centers provide a variety of tests that may be requested quickly and conveniently, and the results can be obtained promptly, making it a handy choice for consumers seeking health information. They frequently provide diagnostic services at a cheaper cost than typical hospitals, giving them a more economical choice for people who pay for their own healthcare. Direct-to-consumer diagnostic facilities have increased accessibility by providing a wide range of tests that may be requested electronically and conducted locally, making it easier for consumers to receive healthcare. These main elements all lead to the growth of diagnostics centers segments.
Excerpts from ‘ByRegionSegmentation’
Geographically, the global non-invasive fat reduction market has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
North America dominated the global direct-to-consumer laboratory testing market with the largest revenue share in 2021, owing to the rising incidence of infectious and chronic illnesses, as well as public knowledge of disease risk assessment and good lifestyle choices. Additionally, partnerships, mergers & acquisitions between the major firms of the region are also resulting in regional growth. Q² Solutions, an IQVIA fully owned subsidiary, and a leading worldwide clinical trial laboratory services provider, launched its first self-collection safety lab panel for clinical trial participants in the United States. It was conducted in collaboration with Tasso Inc., a clinical-grade blood collection solutions provider that offers industry-leading laboratory services, patient-focused logistics, and cutting-edge self-collection technologies. Participants in clinical trials may now send blood samples for lab testing in the comfort of their own homes, removing the need for them to go to an investigator site or have a healthcare practitioner visit them. The first test panel made available through this collaboration is designed to help in the monitoring of liver function by assessing the levels of certain enzymes and proteins in the liver.
Some prominent players operating in the global direct-to-consumer laboratory testing market are Laboratory Corporation of America Holdings, Color Health, Inc., Dante Labs Inc., Quest Diagnostics, WellnessFx, LetsGetChecked, Inc. Myriad Genetics, Inc., EasyDNA, International Biosciences, OME Health (Century Genomics Limited), and Gene by Gene, Ltd. among others
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