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Thyroid Function Test Market By Test (TSH Test, T4 Test, T3 Test, Others), By End User (Hospital And Clinics, Diagnostic Laboratory, Others) - Growth, Future Prospects And Competitive Landscape, 2019 – 2027

Industry Outlook

The thyroid function test market is set to reach US$ 2,203.7 Mn by 2027 from US$ 1,317.8 Mn in 2018 projecting impressive growth at a compounded annual growth rate (CAGR) of 5.9% during the forecast period from 2018 to 2026. The major risk factors associated with thyroid disorders are intake of iodine replete diet, hormonal imbalance, sedentary lifestyle and increasing consumption of alcohol and tobacco. Increasing public health awareness and technological advancement in diagnostic kits together drive the thyroid function tests market growth.

Market Synopsis

Thyroid Function Test Market

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"Preliminary screening in thyroid disorders and cost effective procedure makes TSH test popular among oncologists"

TSH tests are dominating the test type segment for thyroid function test market. The major factors responsible for its positive growth are its popularity among oncologist as the preliminary screening procedure to identify thyroid disorders and is done at a very negligible cost. It cannot identify the reason for the fluctuation of TSH levels in human blood. T4 and T3 tests are performed to achieve diagnosis of Graves’ disease (hyperthyroidism) or Hashimoto’s thyroiditis (hypothyroidism).

Thyroid Function Test Market

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"Financial support from government healthcare agencies and increasing public health awareness drive the hospitals and clinics market growth"

Hospitals and clinics are reigning the end user segment for thyroid function test market. Increasing public health awareness and proactive financial support from government healthcare agencies together drive the market growth for hospitals and clinics. Technological advancement in the development of diagnostic kits utilized in thyroid function tests and rise in per capita income worldwide is anticipated to excel the market growth for diagnostic laboratories during the forecast period.

Thyroid Function Test Market

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"Domicile of key players and rising prevalence of thyroid disorders drive the market growth in North America"

North America is presently accountable for 38% market share and is the clear leader in global thyroid function test market. According to the Endocrine Society of USA report, each year there are approximately 10 cases of hyperthyroidism and 140 cases of hypothyroidism reported among every 1,000 people in the United States. Domicile of key players such as Thermo Fisher Scientific Corporation, Abbott Laboratories, Inc., Siemens Healthineers etc. propel the market growth in North America region. Europe holds 32% share owing to rising prevalence of Graves’ disease in Eastern European Region. As per the statistics provided by European Thyroid Association (ETA) in 2018, the prevalence rate of Graves’ disease is 20 to 30 people per 100,000 individuals. Asia Pacific is responsible for 18% share on account of increasing public health awareness regarding thyroid disorders and implementation of effective treatment guidelines for early disease diagnosis and medical intervention.

Thyroid Function Test Market

Historical & Forecast Period

This research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segments are calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The market segmentation for the scope of report is done as by test, end user and geography.

ATTRIBUTE DETAILS
Research Period  2017-2027
Base Year 2018
Forecast Period  2019-2027
Historical Year  2017
Unit  USD Million
Segmentation

 By Test (2017–2027; US$ Mn)
 • TSH Test
 • T4 Test
 • T3 Test
 • Others

 By End User (2017–2027; US$ Mn)
 • Hospitals and Clinics
 • Diagnostic Laboratory
 • Others

 Geography Segment (2017–2027; US$ Mn)
 • North America (U.S., Canada)
 • Europe (U.K., Germany, Rest of Europe)
 • Asia Pacific (China, Japan, Rest of Asia Pacific)
 • Latin America (Brazil, Mexico, Rest of Latin America)
 • Middle East and Africa (GCC, Rest of MEA)

Pharmaceutical companies manufacturing diagnostic kit to perform thyroid function test are Abbott Laboratories, Inc. Beckman Coulter, Inc., bioMerieux SA., DiaSorin S.p.A., F.Hoffman-La Roche Ltd., Randox Laboratories Ltd., Quidel Corporation, Siemens Healthineers, Qualigen, Inc., and Thermo Fisher Scientific Corporation.

Key questions answered in this report

  • Which biopharmaceutical companies are manufacturing diagnostic kits for performing thyroid function test?
  • What are different types of thyroid disorders and their global prevalence rate?
  • How is the market assessment performed and latest market trend reported for thyroid function test market?
  • What is the importance of performing preliminary screening of thyroid disorders by using TSH Test?
  • Which is the largest end user market in thyroid function test market?
  • What will be the factors responsible for the rampant growth of Asia Pacific in the near future?
Choose License Type
Budget Buying
Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
Trusted By
Godaddy
Published Date:  May 2019
Category:  Biotechnology
Report ID:   59687
Report Format:   PDF
Pages:   120
Rating:    4.2 (58)
Delivery Time: 24 Hours to 48 Hours   
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