Meticulous Research®, a prominent market research firm, released a report 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.’
According to the latest report by Meticulous Research®, the Asia-Pacific direct-to-consumer (DTC) laboratory testing market is anticipated to achieve a value of $1.58 billion by 2030, with a compound annual growth rate (CAGR) of 12.8% from 2023 to 2030. The market's expansion is attributed to various factors, including the increasing prevalence of chronic and sexually transmitted diseases, higher disposable incomes, heightened consumer awareness, growing emphasis on personal health management, and the advantages offered by DTC laboratory testing such as convenience, affordability, and accessibility. Additionally, factors like the rising healthcare costs, aging population, expanding telehealth adoption, and the increasing utilization of pharmacogenomic testing in DTC laboratory testing present opportunities for market growth, particularly in emerging economies.
Challenges facing the Asia-Pacific DTC laboratory testing market include concerns regarding genetic data privacy, potential misinterpretation of test results, and insufficient access to professional medical guidance. Additionally, obstacles like sample integrity and interference problems, regulatory issues, absence of reimbursement, and a narrower range of tests available compared to traditional laboratory testing serve as constraints on market expansion.
Key Players
The Asia-Pacific DTC laboratory testing market report features profiles of prominent players such as 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), GeseDNATechnology LLP (China), Laboratory Corporation of America Holdings (U.S.), LetsGetChecked, Inc. (U.S.), and 23andMe Holding Co. (U.S.)
The Asia-Pacific DTC laboratory testing market is segmented based on Application (Genetic Testing [Ancestry/Genealogy, Disease/Risk Assessment {Cancer, Cardiovascular Diseases, Neurological Diseases, Other Diseases}, Carrier Status, Other Genetic Tests], Diabetes Testing, Routine Clinical Testing, Thyroid Function Testing, Sexually Transmitted Disease Testing, Other Applications), Sample Type (Blood, Saliva, Urine, Other Samples) and Geography. The report also assesses competitors in the industry and examines market trends at regional and country levels.
Among applications, in 2023, the genetic testing sector is forecasted to dominate the market, primarily due to the growing interest in DTC genetic testing for exploring family health history and disease risk assessment. The segment's prominence is further fueled by the introduction of new DTC genetic tests catering to various applications and the heightened curiosity among individuals, especially in developed nations, to delve into their ancestry and lineage.
Among sample types, the blood segment is projected to hold the majority share of the market, primarily due to the extensive range of tests utilizing blood samples. Factors contributing to the segment's dominance include the high reliability of results, growing incidence of chronic diseases, heightened consumer awareness regarding chronic disease monitoring, and the convenience offered by at-home blood collection services.
Geographic Review
The research report examines significant Asia-Pacific regions, including China, Japan, India, Australia, South Korea, Indonesia, Thailand, Malaysia, Singapore, the Philippines, Vietnam, and the rest of the Asia-Pacific. In 2023, China is projected to dominate the Asia-Pacific DTC laboratory testing market, primarily due to its sizable consumer base, rising disposable income, and increasing awareness of personal health management.
Download Sample Report Here @ https://www.meticulousresearch.com/pressrelease/908/asia-pacific-dtc-laboratory-testing-market-2030
Key questions answered in the report:
- What are the market segments experiencing notable growth in terms of Asia-Pacific DTC laboratory testing concerning application, sample type, and geographical location?
- What was the past performance of the DTC laboratory testing market in the Asia-Pacific region?
- What are the projected market predictions and estimations for the timeframe spanning from 2023 to 2030?
- What are the primary factors fueling growth, hindering progress, presenting potential avenues, and posing obstacles in the Asia-Pacific DTC laboratory testing market?
- Who are the key players in the Asia-Pacific DTC laboratory testing market?
- How is the competitive scenario structured, and which companies are leading the Asia-Pacific DTC laboratory testing market?
- What are the latest advancements or updates in the Asia-Pacific DTC laboratory testing market?
- What are the various approaches employed by leading players in the Asia-Pacific DTC laboratory testing market?
- What are the patterns observed in different regions and which regions or countries are experiencing significant growth in the Asia-Pacific DTC laboratory testing market?
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