Thyroid Function Test Market - Forecasts From 2018 to 2023

The Thyroid Function Test market is expected to reach US$2.007 billion by 2023 from US$1.494 billion in 2017. Thyroid function tests refers to the series of blood tests used to measure and identify the functioning of thyroid gland. Thyroid gland is a part of endocrine system and is located in the lower front part of the neck and is responsible for regulating various body processes such as metabolism, energy generation and muscle strength. The thyroid function test market is expected to show a significant growth at a CAGR of 5.04%. The growth in the market may be attributed to the rise in prevalence of the thyroid disorders throughout the world with thyroid diseases becoming a major public health concern across the globe. As per Nation Cancer Institute, there were an estimated 765,547 people living with thyroid cancer in the United States in 2015. Rising awareness regarding the thyroid disorders among the people will play a major role in boosting the market growth for thyroid function test market. However, lack of skilled endocrinologists coupled with the variations in the reference range for thyroid function tests might hamper the growth of the market during the given time frame.

This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical region. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.

Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the global Thyroid Function Test market value chain. Last step involves complete market engineering which includes analysing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.

Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the global Thyroid Function Test market.

Major industry players profiled as part of the report are bioMérieux SA, Quidel Corporation and Randox Laboratories Ltd among others.

Segmentation

By Type

Thyroid Stimulating Hormone Test
T4 tests
T3 Tests
Others

By Indication

Hypothyroidism
Hyperthyroidism
Thyroid Cancer
Others

By End User

Hospitals and Clinics
Diagnostic Centres
Others

By Geography

North America
United States
Canada
Others

South America
Brazil
Argentina
Others

Europe
United Kingdom
Germany
France
Others

Middle East and Africa
Saudi Arabia
UAE
Israel
Others

Asia Pacific
China
India
Australia
South Korea
Others