The Thyroid Function Test Market by Type is expected to reach USD 1.68 Billion by 2022, 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 Type
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 market is segmented into hospitals, diagnostic laboratories, research laboratories & institutes, and other end users. In 2017, the hospital’s segment is expected to command the largest share and grow at the highest CAGR during the forecast period. Growth in the hospitals’ segment can largely be attributed to factors such as high volume of thyroid function tests performed in hospital-based laboratories across the globe, growing patient population (and the subsequent increase in the number of clinical tests performed in hospitals), a growing number of public healthcare awareness campaigns organized by hospitals.
Thyroid Function Tests Market by Type;
- TSH Tests
- T4 Tests
- T3 Tests
- Other Tests
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North America is estimated to dominate the market in 2017
In 2017, North America is expected to account for the largest share of the global thyroid function tests market. This large share can be attributed to factors such as the high prevalence of thyroid disorders in the region, rising geriatric population, and increasing initiatives by the Canadian government for healthcare development in the country.
Major Key Players for Thyroid Function Test Market by Type;
Companies also adopted other strategies such as agreements, partnerships, collaborations, and new product launches to strengthen their existing market position and enhance their market share.
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) are the top players operating in the thyroid function test market.
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