Providers in Direct-to-Consumer Laboratory Testing Market Leverage User Convenience and Confidentiality of Diagnostics to Gain Market Share, says TMR Study

ALBANY, N.Y, Dec. 16, 2021 /PRNewswire/ -- Transparency Market Research: The global direct to consumer laboratory testing market is projected to advance at a CAGR of 26% during 2021–2031. User convenience and promising outcomes are key propositions for the demand for DTC laboratory testing. Furthermore, the confidentiality of the consumer is propelling the popularity of DTC lab testing for various types such as genetic testing, disease risk assessment testing, CBC, diabetes testing, TSH testing.

Individuals are becoming more involved in decisions pertaining to their wellbeing and are seeking provisions that enable them increased control over their personal health information. Notable benefits include patient's autonomy, self-empowerment, and timely access to molecular and immunological tests for infectious and chronic diseases.

Both growing skills of laboratory technicians and promising regulatory frameworks have advanced the scope of results obtained from DTC testing. Consumers are increasingly seeking new technologies in the direct-to-consumer laboratory testing market for application in monitoring existing health conditions and gaining access to personal health characteristics for wellness.

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Key Findings of Direct-to-Consumer Laboratory Testing Market Study

• Several Benefits Drive Acceptance of DTC Lab Testing in Developing and Developed Regions: The growing number of laboratories and retail outlets that offer DTC lab testing and even post-test consultations with qualified healthcare practitioners are driving the demand for self-directed laboratory testing. In recent years, sales prospects in the direct-to-consumer laboratory testing market have strengthened in developed and developing economies.
• Consumer-driven Genetic Testing Opens Vast Possibilities: The genetic testing segment accounted for a leading market share in 2020. Furthermore, genetic counseling following direct-to consumer genetic testing has also grown. Additionally, the growing popularity DTC test kits for ancestry and health & fitness are enriching the landscape, observe the analysts at TMR in a research study on the direct-to-consumer laboratory testing market.

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• Advancements in Diagnostic Centers to Offer Massive Revenue Gains: Private healthcare providers have received substantial revenue gains from rise in the number of standalone laboratories that offer DTC tests. Diagnostics centers are a prominent end user, according to a TMR study on the direct-to-consumer laboratory testing market.
• Role in Mitigating Public Health Crisis Propels Demand for DTC COVID-19 Testing: The DTC provision of COVID-19 tests is underpinned by potential benefits of at-home testing such as increased access to testing and eliminating the risk of exposure to individual and healthcare workers. More notably, at-home collection kits are grabbing the attention of healthcare providers on the back of the role of DTC lab testing in mitigating present public health crisis.
• Providers Assist Consumers to Weigh in Potential Benefits with Risks: Direct-to-consumer laboratory testing provision, despite the potential benefits, also poses various risks such as the misinterpretation of results, concerns of privacy of patient's data, and the quality of the results themselves. Healthcare systems, including regulatory agencies, are keen on addressing these concerns and offer clear guidance and information to individuals. This is likely to boost clinical utility of products in the direct-to-consumer laboratory testing market.

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Key Drivers

• Adoption of direct-to-consumer lab testing provision pivots on the growing trend of consumer- or patient-driven testing for promoting their involvement in decisions that shape their wellbeing
• Focus of healthcare systems on increasing access to personalized medicine is expanding the direct-to-consumer laboratory testing market sales avenues
• Advancements in diagnostic centers and rising number of telemedicine kiosks in developed economies are underpinning lucrative avenues, finds the TMR research report on the direct-to-consumer laboratory testing market

Regional Growth Dynamics

• North America is anticipated to hold a major share of the direct-to-consumer laboratory testing market during the forecast period. Government oversight on promoting the quality and accuracy of laboratories conducting DTC, along with high prevalence of infectious diseases, is generating substantial revenue streams.
• Opportunities in the Asia Pacific direct-to-consumer laboratory testing market are estimated to rise at significant pace during the forecast period. The pressing need for user-friendly diagnostics and the growing demand for consumer-driven genetic testing have propelled prospects.

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Key Players

The TMR study on the direct-to-consumer laboratory testing market presents a detailed scrutiny of the competition dynamics, including a detailed profiling of key players and their offerings. Some of the prominent players are:

• Color Genomics
• LetsGetChecked
• WellnessFX
• MyMedLab, Inc.
• Ancestry.com LLC
• DirectLabs, LLC
• EverlyWell, Inc.
• 23andMe, Inc.
• Quest Diagnostics Incorporated
• Laboratory Corporation of America Holdings

Global Direct-to-Consumer Laboratory Testing Market: Segmentation

Direct-to-Consumer Laboratory Testing Market, by Sample Type

• Blood
• Urine
• Saliva
• Others

Direct-to-Consumer Laboratory Testing Market, by Test Type

• Genetic Testing
• Disease Risk Assessment Testing
• Cancer
• STDs
• Others
• CBC
• Diabetes Testing
• TSH Testing
• Others

Direct-to-Consumer Laboratory Testing Market, by End User

• Hospitals
• Clinics
• Specialty Labs
• Diagnostic Centers

Direct-to-Consumer Laboratory Testing Market, by Region

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Russia
• Switzerland
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
• GCC Countries
• South Africa
• Rest of Middle East & Africa

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