The "Thyroid Function Test Market by Test Type and End User: Global Opportunity Analysis and Industry Forecast, 2019-2026" report has been added to ResearchAndMarkets.com's offering.
The global thyroid function test market was valued at $1,190 million in 2018, and is projected to reach $1,807 million by 2026, registering a CAGR of 5.3% from 2019 to 2026.
Thyroid function test involves a series of blood tests used to measure adequacy of the levels of thyroid hormones. These blood tests can define whether the thyroid hormone production is normal, overactive, or underactive. It involves the different types of tests such as T3, T4, TSH, and T3RU.
The thyroid function test market is expected to witness significant growth during the forecast period owing to increase in The prevalence of thyroid disorders, rise in awareness for early screening of disease, and wide presence of advanced diagnostic laboratories. In addition, early detection of the disease, increase in number of geriatric population, and a rise in the number of awareness campaigns in developing countries support the market growth. However, lack of insurance coverage for thyroid testing hampers the market growth.
The global thyroid function test market is segmented into test type, end user, and region. By test type, the market is classified into TSH tests, T3 tests, T4 TESTS, and others. According to end user, it is categorized into hospitals, diagnostic laboratories, and others. Region wise, the market is studied across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
- The study provides an in-depth analysis of the market along with the current trends and future estimations to elucidate the imminent investment pockets.
- It offers a quantitative analysis from 2018 to 2026, which is expected to enable the stakeholders to capitalize on the prevailing market opportunities.
- A comprehensive analysis of all the geographical regions is provided to determine the existing opportunities.
- The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global market.
- Depending on test type, the TSH tests segment held more than one-third of the share in the global market in 2018.
- By end user, the hospitals segment exhibits fastest growth, and is expected to grow at a CAGR of 6.1% from 2019 to 2026.
- Region wise, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 6.6% during the forecast period.
- Increase in the prevalence of thyroid disorders
- Increase in number of geriatric population
- Surge in healthcare expenditure worldwide
- Lack of awareness in under developed nations
- Growth opportunities in emerging markets
- Abbott Laboratories
- Danaher Corporation
- Diagnostic Automation/Cortez Diagnostics Inc.
- F. Hoffmann-La Roche AG
- Merck KGaA
- Qualigen Inc.
- ThermoFisher Scientific
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