Direct to Consumer Laboratory Testing Market to grow by USD 9.70 billion from 2022 to 2027, North America to account for 39% of market growth- Technavio

NEW YORK, Sept. 5, 2023 /PRNewswire/ -- The direct to consumer laboratory testing market is expected to grow by USD 9.70 billion from 2022 to 2027. In addition, the momentum of the market will progress at a CAGR of  31.59% during the forecast period, according to Technavio Research. The market is segmented by type (blood, urine, saliva, and others), application (routine clinical testing, diabetes testing, genetic testing, thyroid stimulating hormone testing, and others), and geography (North America, Europe, Asia, and Rest of World (ROW)). North America is estimated to contribute 39% to the growth of the global direct- o consumer laboratory testing market during the forecast period. It is convenient and accessible for consumers to have laboratory testing of DTCs. Furthermore, It enables individuals to make use of several laboratory tests and services that do not require hospital visits or consultations at laboratories, to remove traditional barriers to health care testing. In the region, the healthcare industry regulatory environment has evolved to allow DTC laboratory services which will grow the direct to consumer laboratory testing market. Hence, these factors are expected to drive market growth in the region during the forecast period. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read PDF Sample Report

Company Profile:

23andMe Holding Co., Any Lab Test Now Inc., Color Health Inc., DecodeME Partnership, Direct Laboratory Services LLC, EasyDNA, Everlywell Inc., Genesis Healthcare Co., International Biosciences, Konica Minolta Inc., Laboratory Corp. of America Holdings, LetsGetChecked, MyMedLab Inc., Myriad Genetics Inc., Quest Diagnostics Inc., Sonora Quest Laboratories, Ulta Lab Tests LLC, VERITAS INTERCONTINENTAL, Walk In Lab LLC., and WellnessFX

• 23andMe Holding Co. - The company offers direct to consumer genetic tests on a hereditary prostate cancer marker. To gain access to more company profiles available with Technavio, buy the report!

Direct To Consumer Laboratory Testing Market: Segmentation Analysis

The market is segmented by type (blood, urine, saliva, and others), application (routine clinical testing, diabetes testing, genetic testing, thyroid stimulating hormone testing, and others), and geography (North America, Europe, Asia, and Rest of World (ROW)).

• The market share growth by the blood segment will be significant in the DTC laboratory testing market during the forecast period. With DTC laboratory blood tests, one may easily order a test online or via the mobile app without having to go to the hospital and make an appointment. Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a PDF Sample Report

"Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021"- Technavio

Direct To Consumer Laboratory Testing Market: Market Dynamics

Key Driver

Convenience and accessibility of DTC laboratory testing is a key factor driving market growth. In comparison with conventional lab testing methods, DTC laboratory tests are an easy and readily available alternative. Many people do not need to go to a doctor or make an appointment with the laboratory and are able to have tests ordered online. Additionally, testing kits that allow individuals to take samples in the comfort of their own homes are also readily available at home. As a result, this convenience and accessibility factor has contributed significantly to increased demand for DTC laboratory tests. Test kits at home eliminate the need for travel, waiting rooms, and in-person interactions so testing can be more easily accessible to individuals. Hence, these factors are expected to drive market growth during the forecast period.

Major Trend

Increased Internet penetration fuels market growth and is one of the major trends in the market. Due to the increase in Internet penetration, patients can easily access health care services. There is a growing demand for this convenience and accessibility, leading to an increased number of people seeking testing experience without wasting time. Identify key trends, drivers, and challenges in the market. Download the Sample Report to gain access to this information.

Related Reports:

The companion diagnostics market is estimated to grow at a CAGR of 22.59% between 2022 and 2027. The market size is forecast to increase by USD 11,029.63 million. 

The cancer diagnostics market is estimated to grow at a CAGR of 11.3% between 2022 and 2027. The market size is forecast to increase by USD 12,626.21 million. 

What are the key data covered in this direct to consumer laboratory testing market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the direct to consumer laboratory testing market between 2022 and 2027.
• Precise estimation of the direct to consumer laboratory testing market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the direct to consumer laboratory testing market across North America, Europe, Asia, and ROW
• A thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of direct to consumer laboratory testing market companies.

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio