at-home testing, from Covid to cancer, worth $2 billion dollars

The market for home tests is bigger than just Covid tests, and it is bigger than over-the-counter pregnancy tests.

In fact, the new marketplace for consumer-initiated laboratory tests could be worth more than $ 2 billion by 2025, according to Quest Diagnostics.

“We have seen over 100% growth in 2021 compared to 2020,” Everly Health CEO Julia Cheek told CNBC. Everly Health delivers laboratory tests at home through Everlywell.

New entrants, like Everlywell, are coordinating testing to get it directly into the hands of the consumer.

Tests can calculate everything from fertility to sexually transmitted diseases using the same test infrastructure built by diagnostic companies as well as some of the best laboratories in the country.

“We are a wellness test. We do not diagnose any conditions. We provide you with information so you can go to an informed interview with your doctor,” Modern Fertility co-founder Afton Vechery told CNBC.

Vechery started Modern Fertility after realizing it was harder to get her own fertility information than she thought it would be. Her OB-GYN would not order a panel with hormone tests.

“They said, ‘No, Afton, you’re not trying and failing to get pregnant right now. We will not order it for you,'” she said. When Vechery finally got these tests done, she received a bill with the mail of $ 1,500.

“It was completely unexpected for me, and so we really wanted to bring this to market in a way that we could provide access to as many people with ovaries as possible,” she explained of her experience and Modern Fertility’s mission.

Seventy percent of all health decisions are based on diagnostic testing services, according to the Centers for Disease Control and Prevention.

Watch the video above to learn more about how this business model works, the start-ups that drive the market, and how the costs compare to the traditional lab model.

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