Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by
Infinium Global Research on the direct-to-consumer laboratory testing market
provides in-depth analysis of segments and sub-segments in the global as well
as regional direct-to-consumer laboratory testing market. The study also
highlights the impact of drivers, restraints, and macro indicators on the
global and regional direct-to-consumer laboratory testing market over the short
term as well as long term. The report is a comprehensive presentation of
trends, forecast and dollar values of global direct-to-consumer laboratory
testing market. According to the report, the global direct-to-consumer
laboratory testing market is projected to grow at a CAGR of 26% over the
forecast period of 2021-2027.
Patients with various health conditions undergo several laboratory-based diagnostic tests for accurate diagnosis. However, consumers face inconvenience in acquiring the test results, as they go through several channels before reaching consumers. Direct-to-consumer (DTC) laboratory testing removes such obstacles and provides test results directly to the consumers, or patients. With the help of DTC testing, patients can acquire the results quicker than traditional diagnostic testing. Moreover, several players in the medical sector are focusing on offering consumer-focused solutions rather than physician-focused solutions. The market majorly serves healthcare facilities such as hospitals, clinics, diagnostic laboratories, and others. Furthermore, the DTC lab market is witnessing several changes as the technology develops and innovative products emerge in the market.
The spread of novel coronavirus
had a severe impact on almost every country in the world, infecting over 100
million people. The growth in the number of cases put pressure on the
healthcare, pharmaceutical, and life science industries. The organizations in
these industries registered greater demand from the consumers. Other related
industries such as medical devices, laboratory instruments, and consumables
also witnessed higher demand for their products. Laboratory testing products
and services also observed a sharp incline in the demand. DTC lab products and
services were widely used to analyze the samples from COVID-19 patients. On the
other hand, the spread of COVID-19 has disrupted the global supply chain,
hampering the growth of industries and global economics.
The rise in the prevalence of infectious and chronic diseases is majorly driving the growth of the DTC lab testing market. As per the World Health Organization, over 26 billion people suffered from infectious diseases in 2019, growing from about 25 billion in 2018. DTC lab solutions are widely used to diagnose various infectious and chronic health conditions at their early stages. Moreover, unhealthy dietary habits, sedentary lifestyles, growing pollution, and frequent infections during childhood are some factors contributing to the rise in the prevalence of health disorders. These factors together also lead to the growing sale of DTC lab solutions. In addition, a growing geriatric population that is more susceptible to chronic health conditions is anticipated to boost the market growth. On the other hand, a shortage of skilled professionals in developing countries is likely to hamper the growth of the market. Nevertheless, improving healthcare infrastructure across the developing regions with a growing number of healthcare facilities as well as advancements in the diagnostics systems are anticipated to offer growth opportunities to the players in the DTC lab testing market.
In terms of region, the DTC lab testing market is segmented into North America, Europe, Asia-Pacific, and Row. North America dominated the global DTC lab testing market, accounting for the largest share in the market, followed by Europe. The availability of better reimbursement policies, rising prevalence of acute, and chronic diseases are the leading factors supporting the growth of the market in these regions. The market in Asia-Pacific is expected to grow at a high rate in the forecast period. The presence of large patient pools suffering from chronic diseases and the growing demand for DTC labs are some of the factors contributing to the growth of the market.
The report on global
direct-to-consumer laboratory testing market covers segments such as test type,
sample type, and end user. On the basis of test type, the sub-markets include
genetic testing, complete blood count (CBC), disease risk assessment testing,
thyroid-stimulating hormone (TSH) testing, diabetes testing, and others. On the
basis of sample type, the sub-markets include blood, urine, saliva, and others.
On the basis of end user, the sub-markets include hospitals, diagnostic
centers, blood banks, home care, and others.
The report provides profiles of
the companies in the market such as Laboratory Corporation of America Holdings,
23andMe, Inc., Ancestry.com LLC, DirectLabs, LLC, Myriad Genetics, Inc., Gene
by Gene, Ltd., EverlyWell, Inc., WellnessFX, Inc., DanteLabs Inc., and
LetsGetChecked, Inc..
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the direct-to-consumer laboratory testing market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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