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HEALTHCARE & PHARMACEUTICAL

Japan Direct-To-Consumer Laboratory Testing Market Analysis by Sample Type (Blood, Urine, Saliva, and Others); and by Test Type {Genetic Testing, Disease Risk Assessment Testing (Cancer, STDs and Others), CBC, Diabetes Testing, TSH Testing and Others} – Supply & Demand Analysis & Opportunity Outlook 2022-2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • August, 2022: Genesis Healthcare Co.: For the first time in Japan at-home Whole Genome Sequencing test for health prevention has been introduced by Genesis Healthcare Co. It’s called GenelifeWGS.

  • June, 2022: Thermo Fisher Scientific Inc. has been introduced the Thermo Scientific AccelerOme Automated Sample Preparation Platform. The labor-intensive, manual sample preparation for LC-MS analysis including development and reagent sourcing have been successfully eliminated. The resultant peptide samples are of high quality.

Japan Direct-To-Consumer Laboratory Testing Market Size, Forecast, and Trend Highlights Over 2022 - 2031

Japan Direct-To-Consumer Laboratory Testing Market Forecast

The Japan direct-to-consumer laboratory testing market is estimated to garner a revenue of ~USD 2 billion by the end of 2031 by growing at a CAGR of ~26% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of ~USD 0.19 billion in the year 2021. The expansion of the market in the forecast period is estimated owing to the rising number of in-and outpatients in the region. As per recent estimates, in the year of 2020, a total number of approximately 420 million inpatients and 440 million outpatients were recorded at the hospitals in Japan.

Japan Direct-To-Consumer Laboratory Testing Market Size

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Direct-to-consumer (DTC) laboratory testing are a great convenience for those who cannot visit laboratories and testing centers. Direct-to-consumer is thus conducted at-home lab tests without the hassle of moving out. Due to the rise of chronic diseases, people have become quite health-conscious and pay significant attention to the early detection of any disease. This drives the demand for direct-to-consumer laboratory testing, as these deliver diagnostic results within 24 to 48 hours. The rising deaths due to chronic diseases such as cancer and heart diseases are increasing the adoption rate of direct-to-consumer laboratory diseases. In the year 2020, Japan registered approximately 205 thousand deaths due to heart diseases and 378,300 deaths due to cancer.

Japan Direct-To-Consumer Laboratory Testing Market: Growth Drivers and Challenges

Growth Drivers

  • Prevalence of Active Physicians – In the recent years, the number of active physicians in the nation has witnessed magnificent growth, thereby generating numerous opportunities for laboratory testing. As per the recent statistics, there were almost 22 thousand active physicians in the hospitals of Japan in the year 2020.

  • High Expenditure on Health – As per the World Bank, the current health expenditure in the region accounted to be 11% of total GDP in 2019. This was an increase from 10.49% in 2011.

  • Escalation in Telemedicine -  According to a survey, conducted in January 2021, the number of medical institutions that introduced telemedicine in Japan rose from 10,812 (9.7% of all institutions in Japan) in April 2020 to 16,095 (14.5%) in June.

  • Growing Geriatric Population – As per the World Bank, the old age (65 years and above) of Japan held 29% of the total population in 2021. This is a growth from the year 2015, where the older population held 26% of the total population.

Challenges

  • Difficult to Interpret Results
  • Risk of Incorrect Diagnosis
  • Less Amount of Awareness in the Population

Japan direct-to-consumer laboratory testing market is segmented and analyzed for demand and supply by test type into genetic testing, disease risk assessment testing (cancer, STDs and others), CBC, diabetes testing, TSH testing and others. Out of these, the diabetes testing segment is expected to garner the highest revenue by 2031. The segment growth can be primarily attributed to the rising diabetes cases around the world.  As per recent estimates, it was revealed that the number of patients with diabetes mellitus among Japanese adults was estimated to be 7.39 million patients (5.6%) in 2019. Further, the diabetes prevalence rose up to 6.6% of the total population in 2021.

Major Macro-Economic Indicators Impacting the Market Growth

Japan Direct-To-Consumer Laboratory Testing Market Growth Drivers

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According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Market Segmentation

Our in-depth analysis of the Japan direct-to-consumer laboratory testing market includes the following segments:

By Sample Type

  • Blood
  • Urine
  • Saliva
  • Others

By Test Type

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

Top Featured Companies Dominating the Japan Direct-To-Consumer Laboratory Testing Market

  • Quest Diagnostics Incorporated
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Full Genomes Corporation, Inc.
  • OME Care
  • Gene by Gene, Ltd.
  • Wellness FX
  • Ulta Lab Tests, LLC
  • Walk-in Lab, LLC
  • Genesis Healthcare Co.
  • MyHeritage Ltd
  • LabCorp

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