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Global Thyroid Function Tests Market By Type (TSH Tests, T4 Tests, T3 Tests, and Other Tests), By End-User (Hospitals, Diagnostic Laboratories, Research Laboratories & Institutes, and Other End Users), and By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa)-Global Forecast to 2027.
Global Thyroid Function Tests Market Overview:
Thyroid function tests (TFTs) is a blood test, performed to check function or levels of the hormones made by your thyroid gland. The test also contains the story of hormones produced by the pituitary gland in your brain, which acts on your thyroid gland. Thyroid function tests are standardly done to find out whether the thyroid gland is working correctly. This is mainly to identify an underactive thyroid gland and an overactive thyroid gland. It involves several types of tests such as T3, T4, TSH, and T3RU. Patients with Type 1 Diabetes, Coeliac disease, Addison’s disease, Down’s syndrome, and Turner syndrome have a higher probability of thyroid problems. They so are often advised to have thyroid function tests undertaken each year.
Global Thyroid Function Tests Market Insights
The global thyroid function tests market size was valued at USD 1,195 million in 2019 and projected to reach USD 1,809 million by 2027, growing at a CAGR of 5.5% during the forecast period, 2020-2027. The significant factors are the increasing prevalence of thyroid disorders and auto-immune diseases such as Grave’s Disease, Hashimoto’s Disease, and Thyroiditis. Additionally, the growing prevalence of hypothyroidism in patients with diabetes mellitus and hypertension will spur the global thyroid function tests industry in the future periods. Furthermore, the ever-increasing public-private funding for screening activities and the rising development of screening techniques is expected to witness remarkable growth of thyroid function tests. The increasing awareness for early screening or detection of diseases and the rise in the number of awareness campaigns in developing countries are expected to propel the demand for thyroid function tests over the coming years.
Moreover, the rising prevalence of lifestyle diseases and increasing consumption of alcohol and tobacco positively impact the market for thyroid function tests industry. Furthermore, the Surge in healthcare expenditure and comprehensive presence of advanced diagnostic laboratories & screening centers will bolster the growth of global thyroid function tests market share. Additionally, the growing geriatric population and expanding healthcare demands in the developing world propelling the development of the thyroid function tests market across the globe.
Growth Driver
Growing prevalence of thyroid disorders among pregnant women’s
Thyroid disorders are among the most widespread endocrine diseases. Thyroid function test (TFT) detection is crucial for managing thyroid disorders and associated metabolic syndrome. Chemiluminescence immunoassay (CLIA) is exclusively sensible technology for the diagnosis of thyroid disorders. In addition, Electro chemiluminescence techniques can be used to determine trimester-specific reference ranges for total tetraiodothyronine, free T4, total triiodothyronine, and thyroid stimulation hormone (TSH) in pregnant women. However, restrictions are often challenging to achieve. Also, lack of awareness in underdeveloped nations and deviation in the reference range for thyroid function tests may restrict the growth of the thyroid function tests market.
Type Segmental Analysis
Based on the type, the global thyroid function tests market is segregated into TSH Tests, T4 Tests, T3 Tests, and Other Tests. The TSH tests segment is estimated to witness the highest growth over the analysis timeframe due to the rising prevalence of thyroid disorders. The test offers minimal risk, is cost-effective, and is performed at every primary healthcare center globally.
The T4 tests will grow significantly due to the rising prevalence of hyperthyroidism among women or females.
End-User Segmental Analysis
Based on the end-user, the global thyroid function tests market is segmented into hospitals, diagnostic laboratories, research laboratories & institutes, and other end users.
The hospital’s segment will dominate the global thyroid function tests market by 2027. Due to the rise in the number of hospitals performing thyroid function tests, the growing patient population and government focus on broader healthcare policies.
The diagnostic laboratories accounted for the highest share of the thyroid function tests market in 2019 because of the increasing demand for early detection, economic expansion, and rising public health awareness regarding thyroid disorders.
Region Segmental Analysis
The global thyroid function tests market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa by geography. North America is estimated to project considerable growth over 2020-2026. It is owing to advents in technology, the presence of leading industry players offering innovative products, and increasing healthcare expenditure.
The Asia Pacific will capture a significant share of the thyroid function tests market by 2027. Due to a large target patient population, we are continually improving healthcare infrastructure in the region and old-age people’s health care expenditures in emerging countries such as India and China.
Competitor Analysis
Abbott Laboratories, Qualigen Inc., Biomerieux, DiaSorin, Danaher Corporation, Cortez Diagnostics Inc., DiaSorin, F. Hoffmann-La Roche AG, KRONOS, Merck KGaA, Thermo Fisher Scientific, and Autobio Diagnostics are the key players in the global thyroid function tests market.
Key Stakeholders
- Market research and consulting firms
- Industry associations
- Global thyroid function tests kits manufacturing firm
- Research organizations and consulting companies
- Organizations, associations, and alliances related to thyroid function tests
- Regulatory bodies
- Suppliers
- Retailers
The objective of the Research
- Market modeling starts with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
- Product analysis involves examining product features, costs, availability, quality, and other aspects. Product analysis is conducted to understand potential buyers and measure competition in the market.
- Market Trend and Economic Factors Analysis helps assess potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a significant effect on the target market.
- Market Segmental Analysis defines an in-depth scenario of the target market by grouping consumers into naturally existing created segments of consumers who share similar product preferences or characteristics.
- The geographical mapping approach helps our clients to understand national or international markets because different consumers in different regions have different needs, wants, and cultural characteristics that can specifically target.
Market Modelling
By Type
- TSH Tests
- T4 Tests
- T3 Tests
- Other Tests
By End-User
- Hospitals
- Diagnostic Laboratories
- Research Laboratories & Institutes
- Other End Users
By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
Global Thyroid Function Tests Market
Report Content
- Research Strategic Development
- Market Modelling
- Product Analysis
- Market Trend and Economic Factors Analysis
- Market Segmental Analysis
- Geographical Mapping
- Country Wise Segregation
- Research Methodology
- Identification of Target Market
- Data Acquisition
- Refining of Data/ Data Transformations
- Data Validation through Primary Techniques
- Exploratory Data Analysis
- Graphical Techniques/Analysis
- Quantitative Techniques/Analysis
- Visual Result/Presentation
- Executive Summary
- Market Insights
- Supply Chain Analysis
- Economic Factor Analysis
- Drivers
- Trends
- Opportunities
- Challenges
- Technological Landscape
- Competitors & Product Analysis
- Regulatory Framework
- Company market share analysis, 2019
- Porter’s Five forces analysis
- New Investment Analysis
- PESTEL Analysis
- Global Thyroid Function Tests Market Overview
- Market Size & Forecast,2016-2027
- Demand
- By Value (USD Million)
- Consumption
- Demand
- Market Share & Forecast, 2016-2027
- By Type
- TSH Tests
- T4 Tests
- T3 Tests
- Other Tests
- By End-user
- Hospitals
- Diagnostic Laboratories
- Research Laboratories & Institutes
- Other End Users
- By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Type
- Market Size & Forecast,2016-2027
- North America Thyroid Function Tests Market Overview
- North America Thyroid Function Tests Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Consumption
- Demand
- North America Thyroid Function Tests Market Share & Forecast, 2016-2027
- By Type
- TSH Tests
- T4 Tests
- T3 Tests
- Other Tests
- By End-user
- Hospitals
- Diagnostic Laboratories
- Research Laboratories & Institutes
- Other End Users
- By Country
- US
- Canada
- Mexico
- Price-Point Analysis
- Manufacturer & Distributor List (Top 5)
- Company Market Share (Top 3-5)
- Economic Impact Study on North America Thyroid Function Tests Market
- By Type
- North America Thyroid Function Tests Market Size & Forecast, 2016-2027
- Europe Thyroid Function Tests Market Overview
- Europe Thyroid Function Tests Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Consumption
- Demand
- Europe Thyroid Function Tests Market Share & Forecast,2016-2027
- By Product
- Consumables
- Equipment
- By Application
- Biopharmaceutical Production
- Stem Cell Technology
- Cancer research
- Drug Screening and Development
- Tissue Engineering & Regenerative Medicine
- Other Applications
- By End-user
- Academic & Research Institutes
- Pharmaceutical & Biotechnology Companies
- Hospitals and Diagnostic Laboratories
- Cell Banks
- Other By Type
- TSH Tests
- T4 Tests
- T3 Tests
- Other Tests
- By End-user
- Hospitals
- Diagnostic Laboratories
- Research Laboratories & Institutes
- Other End Users
- By Country
- Germany
- UK
- France
- Italy
- Rest of Europe
- Price-Point Analysis
- Manufacturer & Distributor List (Top 5)
- Company Market Share (Top 3-5)
- Economic Impact Study on Europe Thyroid Function Tests Market
- By Product
- Europe Thyroid Function Tests Market Size & Forecast, 2016-2027
- Asia Pacific Thyroid Function Tests Market Overview
- Asia Pacific Thyroid Function Tests Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Consumption
- Demand
- Asia Pacific Thyroid Function Tests Market Share & Forecast, 2016-2027
- By Type
- TSH Tests
- T4 Tests
- T3 Tests
- Other Tests
- By End-user
- Hospitals
- Diagnostic Laboratories
- Research Laboratories & Institutes
- Other End Users
- By Country
- China
- India
- Japan
- Australia
- Rest of Asia Pacific
- Price-Point Analysis
- Manufacturer & Distributor List (Top 5)
- Company Market Share (Top 3-5)
- Economic Impact Study on Asia Pacific Thyroid Function Tests Market
- By Type
- Asia Pacific Thyroid Function Tests Market Size & Forecast, 2016-2027
- South America Thyroid Function Tests Market Overview
- South America Thyroid Function Tests Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Consumption
- Demand
- South America Thyroid Function Tests Market Share & Forecast,2016-2027
- By Type
- TSH Tests
- T4 Tests
- T3 Tests
- Other Tests
- By End-user
- Hospitals
- Diagnostic Laboratories
- Research Laboratories & Institutes
- Other End Users
- By Country
- Brazil
- Argentina
- Rest of South America
- Price-Point Analysis
- Manufacturer & Distributor List (Top 5)
- Company Market Share (Top 3-5)
- Economic Impact Study on South America Thyroid Function Tests Market
- By Type
- South America Thyroid Function Tests Market Size & Forecast, 2016-2027
- Middle East & Africa Thyroid Function Tests Market Overview
- Middle East & Africa Thyroid Function Tests Market Size & Forecast, 2016-2027
- Demand
- By Value (USD Million)
- Consumption
- Demand
- Middle East & Africa Thyroid Function Tests Market Share & Forecast, 2016-2027
- By Type
- TSH Tests
- T4 Tests-
- T3 Tests
- Other Tests
- By End-user
- Hospitals
- Diagnostic Laboratories
- Research Laboratories & Institutes
- Other End Users
- By Country
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
- Price-Point Analysis
- Manufacturer & Distributor List (Top 5)
- Company Market Share (Top 3-5)
- Economic Impact Study on Middle East & Africa Thyroid Function Tests Market
- By Type
- Middle East & Africa Thyroid Function Tests Market Size & Forecast, 2016-2027
- Competitor Analysis
- Company Description
- Financial Analysis
- Key Products
- Key Management Personnel
- Contact Address
- SWOT Analysis
- Company Profile
- Abbott Laboratories
- Qualigen Inc
- Biomerieux
- DiaSorin
- Danaher Corporation
- Cortez Diagnostics Inc.
- DiaSorin
- Hoffmann-La Roche AG
- KRONUS
- Merck KGaA
- Thermo Fisher Scientific
- Autobio Diagnostics
