Global Thyroid Function Test Market - Snapshot

The global thyroid function test market was valued at approximately US$ 1.3 Bn in 2018. It is anticipated to exceed a value of US$ 2.4 Bn by 2027, expanding at a CAGR of more than 5% from 2019 to 2027. The global thyroid function test market is driven by an increase in the incidence of thyroid disease, rise in geriatric population, increase in obese, diabetic, and cardiovascular patients, and increase in disease awareness programs in developing regions. Furthermore, high healthcare investment and increase in awareness related to thyroid function test are expected to create new opportunities in developing countries. However, asymptomatic nature of thyroid disorders leads to large undiagnosed population, which in turn is expected to restraint the market during the forecast period.

thyroid function test market

The global thyroid function test market has been segmented based on type, end-user, and region. In terms of type, the global market has been classified into TSH test, T4 test, T3 test, and others. In terms of end-user, the market has been split into hospitals-based laboratories, diagnostic laboratories, research institutes, and others. Based on region, the global market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Based on type, TSH test was a highly attractive segment of the market in 2018. The segment is expected to remain highly attractive during the forecast period. Expansion of the segment is attributed to the increasing incidence of thyroid and hence, boost in the number of TSH test. Furthermore, rise in population is boosting the market for thyroid function test. Based on end-user, the hospital-based laboratories segment accounted for a prominent share of the market in 2018. It is expected to dominate the market during the forecast period. Increase in patient population and improvement in health care infrastructure are expected to drive the segment during the forecast period.

In terms of region, North America held a significant share of the global thyroid function test market in 2018. Europe was the second-leading market for thyroid function test in 2018. The region has a well-established network of major players; hence, it offers fewer opportunities for growth and business expansion for new entrants. According to DiaSorin, approximately 200 million people worldwide were suffering from some form of thyroid disorder in 2018. Furthermore, globally, it is estimated that 1 billion people are at risk of developing a thyroid goiter. Statistically, women are 5 to 8 times more likely than men to develop some form of thyroid disease. Latin America and Asia Pacific are likely to be lucrative markets during the forecast period. Cumulatively, they accounted for 25.1% share of the global market in 2018. Asia Pacific is a highly lucrative market due to the increasing incidence of diseases and investment of key players in this region. The market in Middle East & Africa is expanding at a sluggish pace due to sluggish economic growth, less awareness, and low per capita income in the region.

Major players operating in the thyroid function test market are Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd, Abbott Laboratories, DiaSorin S.p.A., Danaher Corporation, Siemens Healthineers, Merck KGaA, bioMérieux SA, Qualigen Inc., and Autobio Diagnostics Co., Ltd.

Global Thyroid Function Test Market - Overview

This report analyzes the current and future scenario of the global thyroid function test market. Increase in patient population, rise in incidence of thyroid disorder, increase in geriatric population, rise in per capita health care expenditure, improvement in health care infrastructure, and increase in the number of contractual agreements and acquisitions by manufacturers are key factors that are projected to drive the global market during the forecast period.

The global thyroid function test market report comprises an elaborate executive summary, which includes a snapshot that provides information about various segments of the market. It also provides information and data analysis of the global market with respect to the segments based on type, end-user, and region. A detailed qualitative analysis of drivers and restraints of the market and opportunities has been provided in the overview section. Additionally, the section comprises a competitive matrix and company profiles along with business overview to understand the competitive landscape in the market. This section of the report also provides market share analysis by key players, thereby presenting a thorough analysis of the overall competitive scenario in the global thyroid function test market.

Global Thyroid Function Test Market: Key Segments

The global thyroid function test market has been segmented based on type, end-user, and region. In terms of type, the global market has been classified into TSH test, T4 test, T3 test, and others. In terms of end-user, the market has been split into hospitals-based laboratories, diagnostic laboratories, research institutes, and others. Based on region, the global market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Global Thyroid Function Test Market: Regional Outlook

In terms of region, the global thyroid function test market has been segmented into North America (the U.S. and Canada), Europe (the U.K., Germany, France, Spain, Italy, and Rest of Europe), Asia Pacific (India, China, Japan, Australia & New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East & Africa. The market size and forecast for each of these regions and the mentioned countries/sub-regions have been provided for the period from 2017 to 2027, along with their respective CAGRs for the forecast period from 2019 to 2027, considering 2018 as the base year. The research study also covers the competitive scenario in these regions.

Companies Mentioned in the Report

The report also profiles major players in the global thyroid function test market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. The major players profiled in the market report include Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd, Abbott Laboratories, DiaSorin S.p.A., Danaher Corporation, Siemens Healthineers, Merck KGaA, bioMérieux SA, Qualigen Inc., and Autobio Diagnostics Co., Ltd.

The global thyroid function test market has been segmented as below:

  • Global Thyroid Function Test Market, by Type
    • TSH Test
    • T4 Test
    • T3 Test
    • Others
  • Global Thyroid Function Test Market, by End-user
    • Hospital-based Laboratories
    • Diagnostic Laboratories
    • Research Institutes
    • Others
  • Global Thyroid Function Test Market, by Region
    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
      • Italy
      • France
      • Spain
      • Rest of Europe
    • Asia Pacific
      • India
      • China
      • Japan
      • Australia & New Zealand
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa
      • GCC Countries
      • South Africa
      • Rest of Middle East & Africa
.