The Asia Pacific Thyroid Function Testing Market would witness market growth of 7.2% CAGR during the forecast period (2023-2031).
The China market dominated the Asia Pacific Thyroid Function Testing Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $531 million by 2031. The Japan market is registering a CAGR of 6.5% during (2024 - 2031). Additionally, The India market would showcase a CAGR of 7.9% during (2024 - 2031).
Thyroid function testing has been widely adopted across various healthcare settings, driven by several factors that underscore its importance in clinical practice. For example, it has become a routine part of healthcare screenings and diagnostic protocols, especially in primary care settings. Healthcare providers frequently order thyroid function tests as part of comprehensive health assessments, annual check-ups, and evaluations for common symptoms associated with thyroid dysfunction.
The growing prevalence of thyroid disorders, coupled with increased awareness among healthcare professionals and the general population, has led to greater adoption of such testing. Rising incidence rates of conditions such as hypothyroidism, hyperthyroidism, thyroid nodules, and autoimmune thyroid diseases have emphasized the importance of early detection and monitoring through thyroid function tests.
With a rise in the prevalence of thyroid disorders, there is likely to be an increased demand for thyroid function tests (TFTs) in India. India, too, is no exception. According to a projection from various studies on thyroid disease, it has been estimated that about 42 million people in India suffer from thyroid disease. Hence, the increasing prevalence of thyroid-related disease and the growing elderly population in the region drive the market’s growth.
Based on End-use, the market is segmented into Hospitals, Diagnostic Laboratories, Clinics, and Research Laboratories & Institutes. Based on Test Type, the market is segmented into TSH Test, Free T4 Test, T4 Test, T3 Test, Free T3 Test, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The China market dominated the Asia Pacific Thyroid Function Testing Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $531 million by 2031. The Japan market is registering a CAGR of 6.5% during (2024 - 2031). Additionally, The India market would showcase a CAGR of 7.9% during (2024 - 2031).
Thyroid function testing has been widely adopted across various healthcare settings, driven by several factors that underscore its importance in clinical practice. For example, it has become a routine part of healthcare screenings and diagnostic protocols, especially in primary care settings. Healthcare providers frequently order thyroid function tests as part of comprehensive health assessments, annual check-ups, and evaluations for common symptoms associated with thyroid dysfunction.
The growing prevalence of thyroid disorders, coupled with increased awareness among healthcare professionals and the general population, has led to greater adoption of such testing. Rising incidence rates of conditions such as hypothyroidism, hyperthyroidism, thyroid nodules, and autoimmune thyroid diseases have emphasized the importance of early detection and monitoring through thyroid function tests.
With a rise in the prevalence of thyroid disorders, there is likely to be an increased demand for thyroid function tests (TFTs) in India. India, too, is no exception. According to a projection from various studies on thyroid disease, it has been estimated that about 42 million people in India suffer from thyroid disease. Hence, the increasing prevalence of thyroid-related disease and the growing elderly population in the region drive the market’s growth.
Based on End-use, the market is segmented into Hospitals, Diagnostic Laboratories, Clinics, and Research Laboratories & Institutes. Based on Test Type, the market is segmented into TSH Test, Free T4 Test, T4 Test, T3 Test, Free T3 Test, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
List of Key Companies Profiled
- Quest Diagnostics Incorporated
- Laboratory Corporation of America Holdings
- Ulta Lab Tests, LLC
- DHA Laboratory
- Everly Health, Inc.
- ZRT Laboratory LLC
- Danaher Corporation
- Thyrocare Technologies Limited
- Siemens Healthineers AG (Siemens AG)
- Abbott Laboratories
Market Report Segmentation
By End-use- Hospitals
- Diagnostic Laboratories
- Clinics
- Research Laboratories & Institutes
- TSH Test
- Free T4 Test
- T4 Test
- T3 Test
- Free T3 Test
- Others
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Asia Pacific Thyroid Function Testing Market by End-use
Chapter 5. Asia Pacific Thyroid Function Testing Market by Test Type
Chapter 6. Asia Pacific Thyroid Function Testing Market by Country
Chapter 7. Company Profiles
Companies Mentioned
- Quest Diagnostics Incorporated
- Laboratory Corporation of America Holdings
- Ulta Lab Tests, LLC
- DHA Laboratory
- Everly Health, Inc.
- ZRT Laboratory LLC
- Danaher Corporation
- Thyrocare Technologies Limited
- Siemens Healthineers AG (Siemens AG)
- Abbott Laboratories
Methodology
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