The Overall Thyroid Function Test Market is expected to reach USD 1.68 Billion, nearly at a CAGR of 5.9%

Growth in the thyroid function tests market can primarily be attributed to the increasing incidence of thyroid disorders, increasing awareness about thyroid disorders, increasing the prevalence of lifestyle diseases, rising geriatric population, and increasing consumption of alcohol & tobacco.

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Thyroid Function Test Market by End User

Factors such as increased incidence of thyroid disorders, awareness about thyroid disorders, the prevalence of lifestyle diseases, rising geriatric population, and increasing consumption of alcohol and tobacco are driving the growth of the market.

Thyroid Function Test Market by End User:

The hospitals’ segment is expected to account for the largest share of the market.

Based on end users, the global thyroid function tests market is broadly segmented into hospitals, diagnostic laboratories, research laboratories and institutes, and other end users. The hospitals’ segment is estimated to account for the largest share of the global thyroid function tests market in 2017. The large share of the segment can be attributed to the growing patient population & the subsequent increase in clinical tests performed in hospitals and the growing number of public healthcare awareness campaigns organized by hospitals.

Geographical Analysis For Thyroid Function Test Market:

North America is estimated to dominate the market.

The global thyroid function test market due to the presence of an advanced healthcare infrastructure in North American countries such as the US and Canada. However, the Asia Pacific market is expected to grow at the highest CAGR in the forecast period. This growth can be attributed to factors such as the presence of a large target patient population, increasing disposable income of the middle-class population, and improving healthcare infrastructure in emerging countries such as China and India.

Major Key players operating in the thyroid function tests market:

Thermo Fisher (US), Abbott (US), Roche (Switzerland), DiaSorin (Italy), Danaher (US), Kronus (US), Merck (Germany), Cortez Diagnostics (US), bioMérieux (France), Qualigen (US), and Autobio Diagnostics (China).

In July 2017, DaiSorin (Italy) acquired the ELISA immunodiagnostic product portfolio from Siemens Healthcare (Germany) to expand its presence in the European region. In October 2016, Merck (Germany) launched the Spiking Solution. This solution enables the monitoring of thyroglobulin levels in patients. In October 2015, DaiSorin (Italy) launched an automated quantitative thyroid stimulating immunoglobulin (TSI) assay. This assay is used in the diagnosis of Graves’ disease.