Asia-Pacific DTC Laboratory Testing Market Set to Reach $1.58 Billion by 2030, Reveals Exclusive Report by Meticulous Research®

[Redding, California, 18-03-2024] - Meticulous Research®, a premier provider of market intelligence, has unveiled its latest report on the Asia-Pacific Direct-to-Consumer (DTC) Laboratory Testing Market. Titled "Asia-Pacific DTC Laboratory Testing Market By Application (Genetic Testing {Ancestry, Disease Risk [Cancer, Cardiac, Neurological], Carrier Status}, Diabetes, COVID, Routine, Thyroid), and Sample Type (Blood, Saliva, Urine) - Forecast to 2030," the report forecasts the market to soar to $1.58 billion by 2030, boasting a formidable CAGR of 12.8% from 2023 to 2030.

Direct-to-consumer laboratory tests enable consumers to self-order tests without the need for healthcare providers' involvement. These tests utilize samples collected from consumers, which are then processed at laboratories, with results delivered directly to the consumer.

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The growth trajectory of the Asia-Pacific DTC laboratory testing market is propelled by several factors. These include the escalating incidence of chronic and sexually transmitted diseases, rising disposable incomes, heightened consumer awareness, increased emphasis on personal health management, and the advantages offered by DTC laboratory testing, such as convenience, affordability, and accessibility. Additionally, factors such as escalating healthcare costs and an aging population contribute to market growth. The report also identifies opportunities stemming from the growing adoption of telehealth, expansion in emerging economies, and increased penetration of pharmacogenomic testing in DTC laboratory testing. However, challenges such as genetic data privacy concerns, misinterpretation of test results, and lack of professional medical counseling pose obstacles to market expansion.

The report provides a comprehensive assessment of product portfolios, geographic analysis, and key growth strategies adopted by leading market players over the past three to four years. Notably, the Asia-Pacific DTC laboratory testing market has witnessed numerous organic and inorganic strategic developments during this period. Key players profiled in the report include Metropolis Healthcare Limited (India), SRL Limited (India), Hirotsu Bio Science (Japan), Mapmygenome India Limited (India), Genesis Healthcare Co. (Japan), Augmentum Diagnostics (India), Apollo Health and Lifestyle Limited (India), WeGene (China), GeseDNA Technology LLP (China), Laboratory Corporation of America Holdings (U.S.), LetsGetChecked, Inc. (U.S.), and 23andMe Holding Co. (U.S.).

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Increasing Awareness Regarding Disease Risk Assessment Testing and Family Health History Drive the Growth of the DTC Laboratory Testing Market

Disease risk assessment genetic testing plays a pivotal role in providing insights into an individual's predisposition to certain diseases or conditions, facilitating early diagnosis and prevention strategies. Moreover, understanding one's family health history enables proactive management of chronic conditions. Consequently, the rising prevalence of chronic diseases, coupled with advancements in genetic testing technology, is fueling the adoption of disease risk assessment testing.

The Asia-Pacific DTC laboratory testing market is segmented by application, including genetic testing, diabetes testing, routine clinical testing, thyroid function testing, sexually transmitted disease testing, among others, and sample type, encompassing blood, saliva, urine, and other samples. The report also evaluates industry competitors and analyzes country-level markets.

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Key Findings from the Report:

The genetic testing segment is anticipated to dominate the market in 2023, driven by increasing consumer awareness, curiosity about ancestry, robust marketing strategies, and a growing demand for personalized testing services.

Blood samples are expected to account for the largest share of the market, owing to their versatility across various types of laboratory testing and increasing consumer awareness about chronic disease monitoring.

China is poised to lead the market, buoyed by its sizable consumer population, rising disposable incomes, and growing health consciousness, particularly among the elderly population.

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This release was published on openPR.