Global Direct-To-Consumer (DTC) Laboratory Testing Market Analysis 2024: Size Forecast and Growth Prospects

 

The direct-to-consumer (dtc) laboratory testing global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Direct-To-Consumer (DTC) Laboratory Testing Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size -
The direct-to-consumer (DTC) laboratory testing market size has grown exponentially in recent years. It will grow from $3.43 billion in 2023 to $4.45 billion in 2024 at a compound annual growth rate (CAGR) of 29.8%.  The  growth in the historic period can be attributed to growing prevalence of infectious and chronic diseases, increasing geriatric population, increasing use of miniaturized portable instruments, growing use of biomarker profiling, and growing demand for personalized medicine.

The direct-to-consumer (DTC) laboratory testing market size is expected to see exponential growth in the next few years. It will grow to $12.73 billion in 2028 at a compound annual growth rate (CAGR) of 30.1%.  The growth in the forecast period can be attributed to rise in demand for rapid and accurate diagnosis of disease, growing emphasis on wellness and preventive healthcare, the growing demand for rapid and on-site diagnostic testing, rise in infectious disease outbreaks, and rise of telemedicine. Major trends in the forecast period include next-generation sequencing (NGS) integration, RNA detection and analysis, single-cell PCR analysis, bioinformatics software and data analysis tools, microfluidic technologies, lab-on-a-chip systems, and point-of-care testing (POCT), artificial intelligence (AI) and data analytics.

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Scope Of Direct-To-Consumer (DTC) Laboratory Testing Market
The Business Research Company's reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Direct-To-Consumer (DTC) Laboratory Testing Market Overview

Market Drivers -
The rising prevalence of infectious diseases is expected to propel the growth of the direct-to-consumer (DTC) laboratory testing market going forward. Infectious diseases refer to illnesses caused by pathogenic microorganisms such as bacteria, viruses, parasites, or fungi transmitted from person to person through direct contact, indirect contact, or vectors such as insects or animals. The prevalence of infectious diseases is influenced by a complex interplay of biological, environmental, social, and economic factors. DTC laboratory testing contributes to preventing, detecting, and managing infectious diseases by increasing access to testing, promoting early intervention, and supporting public health efforts through data collection and education. For instance, in November 2023, according to the World Health Organization (WHO), a Switzerland-based specialized agency of the United Nations responsible for international public health, around 10.6 million cases of tuberculosis (TB)  occurred globally in 2022, affecting 5.8 million men, 3.5 million women, and 1.3 million children. Therefore, the rising prevalence of infectious diseases is driving the direct-to-consumer (DTC) laboratory testing market.

Market Trends -
Major companies operating in the direct-to-consumer (DTC) laboratory testing market are focused on developing innovative solutions, such as mobile phlebotomy services, to enhance convenience and accessibility for their customers. A mobile phlebotomy service is a healthcare service that brings blood collection (phlebotomy) to the patient's location, typically their home or workplace, rather than requiring the patient to visit a medical facility for blood tests. For instance, in July 2023, Quest Diagnostics Incorporated., a US-based company that provides diagnostic testing, information, and services, launched the Quest Mobile, a new service designed to streamline the process of specimen collection for laboratory testing across the nation. Quest Mobile helps patients effortlessly schedule appointments for at-home specimen collection by skilled phlebotomists. This convenient option enables patients to undergo a diverse array of laboratory tests from the comfort of their own homes, ensuring ease and accessibility in the testing process.

The direct-to-consumer (DTC) laboratory testing market covered in this report is segmented –

1) By Sample Type: Blood, Urine, Saliva, Other Sample Types
2) By Test Type: Genetic Testing, Disease Risk Assessment Testing, Complete Blood Count (CBC), Diabetes Testing, Thyroid-Stimulating Hormone (TSH) Testing, Other Test Types
3) By Application: Diagnostics, Research And Development, Drug Discovery And Development
4) By End User: Hospitals, Clinics, Specialty Labs, Diagnostic Centers

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Regional Insights -
North America was the largest region in the direct-to-consumer (DTC) laboratory testing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the direct-to-consumer (DTC) laboratory testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies -
Major companies operating in the direct-to-consumer (DTC) laboratory testing market are  Laboratory Corporation of America Holdings (LabCorp), Quest Diagnostics Incorporated, PerkinElmer Inc, Genesis Healthcare Co., Natera Inc, Sonora Quest Laboratories, Ancestry.com LLC, 23andMe Holding Co, Thorne HealthTech Inc, Metropolis Healthcare Limited, Color Health Inc, LetsGetChecked Inc., MyHeritage Ltd, Everlywell Inc, Complete Genomics Incorporated, DanteLabs Inc, Gene by Gene Ltd., Veritas Intercontinental, DirectLabs LLC., WellnessFX Inc, Ulta Lab Tests LLC, Any Lab Test Now Inc, Vitagene Inc.

Table of Contents
1. Executive Summary
2. Direct-To-Consumer (DTC) Laboratory Testing Market Report Structure
3. Direct-To-Consumer (DTC) Laboratory Testing Market Trends And Strategies
4. Direct-To-Consumer (DTC) Laboratory Testing Market – Macro Economic Scenario
5. Direct-To-Consumer (DTC) Laboratory Testing Market Size And Growth
…..
27. Direct-To-Consumer (DTC) Laboratory Testing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix