The global thyroid function test market reached a value of US$ 1.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 2.0 Billion by 2027, exhibiting a CAGR of 6.1% during 2022-2027.
Thyroid function tests are used for measuring hormone levels in the blood. They aid healthcare professionals in diagnosing numerous diseases, such as thyroiditis, cancer, nodules, goiter, tumors, Hashimoto’s, Graves’, hyperthyroidism, hypothyroidism, etc. Some standard tests advised by doctors to evaluate thyroid function include thyroxine (T4), thyroglobulin, thyroid-stimulating hormone (TSH), triiodothyronine (T3), calcitonin, thyroid antibody, etc. Owing to the rising number of infants with medical conditions, such as thyrotropin receptor autoantibodies (TRAb), craniosynostosis, advanced bone age, etc., there is an increase in the demand for thyroid function tests.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Thyroid Function Test Market Trends:
Substantial growth in the automotive industry across the globe is driving the polybutadiene rubber market. This rubber is extensively utilized in the production of high-quality components in semi utility vehicles (SUVs) and luxury vehicles to provide enhanced comfort to the user. Furthermore, the rising demand for advanced rubbers and chemical-resistant materials is bolstering the growth of the market. Liquid polybutadiene rubber is used in the manufacturing of elastomers, belts, shoes, hoses, rubber bands, coatings, adhesives, etc. Besides this, numerous product innovations, such as the utilization of bio feedstock for the production of synthetic rubber, are fueling the product demand. Several other factors, including growing expenditure capacities and elevating levels of industrialization, are anticipated to drive the market growth in the coming years.
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Global Thyroid Function Test Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Abbott Laboratories, Autobio Diagnostics Co. Ltd, bioMérieux SA, Diagnostic Automation/Cortez Diagnostics Inc., DiaSorin S.p.A., F. Hoffmann-La Roche AG, Merck KGaA, Qualigen Inc., Quidel Corporation, Siemens AG, and Thermo Fisher Scientific Inc.
The report has segmented the market on the basis on region, test type, indication and end user.
Breakup by Test Type:
- TSH Tests
- T3 Tests
- T4 Tests
Breakup by Indication:
- Thyroid Cancer
Breakup by End User:
- Diagnostic Laboratories
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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