at-home testing, from Covid to cancer, worth $2 billion dollars
There are more at-home pregnancy testing options than Covid and over-the-counter.
Quest Diagnostics claims that by 2025 the consumer-initiated market in lab testing will be worth $22 billion.
Julia Cheek, CEO of Everly Health, stated that the company has seen over 100 percent growth over 2020. Everlywell offers at-home laboratory testing by Everlyhealth.
Everlywell is a new entrant who coordinates testing in order to deliver it directly to the customer.
The same infrastructure used by top national laboratories and diagnostics companies to test for fertility can be used to calculate STDs.
Our wellness tests are for you. We don’t diagnose conditions. “We give information to help you have informed conversations with your doctor,” Modern Fertility founder Afton Vechery explained to CNBC.
Modern Fertility was founded by Vechery after she realized that getting fertility information on her own proved to be more challenging than she expected. Her OB/GYN didn’t recommend a panel for hormone testing.
“They replied, “No, Afton. You’re not failing and trying to conceive right away.” She said, “We’re not going order that for you.” Vechery finally had these tests completed and received an invoice in the mail with $1,500.
She said, “That was completely unexpected to me. So we wanted to really bring this to market so that we could offer access to as many people as possible.”
The Centers for Disease Control and Prevention estimates that seventy-five percent of healthcare decisions are made based upon diagnostic testing.
The video below will explain how this model works. It also explains the role of start-ups in the marketplace and what the cost difference is to the traditional laboratory model.