The global thyroid function testing market accounted for USD 4.83 billion in 2023 and is expected to reach at USD 9.50 billion by 2034 with a CAGR of 6.34% during the forecast period 2024-2034. For instance, in June 2022, Lonza opened a new clinical phase development and production facility at its Bend, Oregon, small molecules site. It is committed to producing intermediates for drug products and completed dosage forms with spray-dried dispersion (SDD) that enhance bioavailability.
The market will grow as a result of factors such as rising strategic collaborations and partnerships, favorable government initiatives, rising prevalence of thyroid disorders, growing awareness of thyroid health, and technological advancements. For instance, Abbott announced in February 2023 the release of the ARCHITECT TSH Gen 2 assay, a new generation TSH test with increased sensitivity and quicker turnaround times.
By test type, the TSH test segment accounted for the highest revenue-grossing segment in the global thyroid function testing market in 2023 owing to the widespread adoption as the primary screening tool for thyroid disorders, coupled with increasing prevalence of thyroid conditions globally. For instance, Siemens Healthineers' Atellica TSH 3rd Generation assay, a completely automated TSH test with excellent precision for effective thyroid function monitoring, was approved by the FDA in October 2022. Additionally, the free T4 Test segment is predicted to grow at the fastest CAGR during the forecast period owing to the higher specificity in diagnosing thyroid disorders and increasing demand for precise and accurate thyroid function testing.
By end-user, the hospitals and clinics segment accounted for the highest revenue-grossing segment in the global thyroid function testing market in 2023 owing to the central role of these healthcare facilities in diagnosing and managing thyroid disorders, along with the increasing number of patients seeking thyroid-related healthcare services. For instance, the VITROS® Immunodiagnostic Products Anti-SARS-CoV-2 Total Reagent Pack and Calibrators were granted an Emergency Use Authorization (EUA) by the U.S. FDA in January 2022 by Ortho Clinical Diagnostics. Additionally, the diagnostic laboratories segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing outsourcing of laboratory services, technological advancements enabling more efficient testing processes, and rising demand for comprehensive diagnostic testing services.
North American region is anticipated to have the highest revenue share during the forecast period owing to the well-established healthcare infrastructure, high prevalence of thyroid disorders, and increasing adoption of advanced diagnostic technologies in the region. Additionally, the Asia Pacific region is estimated to grow at the fastest CAGR during the forecast period owing to the rising healthcare expenditure, increasing awareness about thyroid disorders, expanding access to healthcare services, and improving healthcare infrastructure in the region. For instance, Agilent Technologies stated in February 2022 that it was adding new antibodies and tests to its Dako Omnis platform, which is used for automated tissue sample labeling.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
The market will grow as a result of factors such as rising strategic collaborations and partnerships, favorable government initiatives, rising prevalence of thyroid disorders, growing awareness of thyroid health, and technological advancements. For instance, Abbott announced in February 2023 the release of the ARCHITECT TSH Gen 2 assay, a new generation TSH test with increased sensitivity and quicker turnaround times.
By test type, the TSH test segment accounted for the highest revenue-grossing segment in the global thyroid function testing market in 2023 owing to the widespread adoption as the primary screening tool for thyroid disorders, coupled with increasing prevalence of thyroid conditions globally. For instance, Siemens Healthineers' Atellica TSH 3rd Generation assay, a completely automated TSH test with excellent precision for effective thyroid function monitoring, was approved by the FDA in October 2022. Additionally, the free T4 Test segment is predicted to grow at the fastest CAGR during the forecast period owing to the higher specificity in diagnosing thyroid disorders and increasing demand for precise and accurate thyroid function testing.
By end-user, the hospitals and clinics segment accounted for the highest revenue-grossing segment in the global thyroid function testing market in 2023 owing to the central role of these healthcare facilities in diagnosing and managing thyroid disorders, along with the increasing number of patients seeking thyroid-related healthcare services. For instance, the VITROS® Immunodiagnostic Products Anti-SARS-CoV-2 Total Reagent Pack and Calibrators were granted an Emergency Use Authorization (EUA) by the U.S. FDA in January 2022 by Ortho Clinical Diagnostics. Additionally, the diagnostic laboratories segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing outsourcing of laboratory services, technological advancements enabling more efficient testing processes, and rising demand for comprehensive diagnostic testing services.
North American region is anticipated to have the highest revenue share during the forecast period owing to the well-established healthcare infrastructure, high prevalence of thyroid disorders, and increasing adoption of advanced diagnostic technologies in the region. Additionally, the Asia Pacific region is estimated to grow at the fastest CAGR during the forecast period owing to the rising healthcare expenditure, increasing awareness about thyroid disorders, expanding access to healthcare services, and improving healthcare infrastructure in the region. For instance, Agilent Technologies stated in February 2022 that it was adding new antibodies and tests to its Dako Omnis platform, which is used for automated tissue sample labeling.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Test Type, and End-User
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
Segmentation: Thyroid Function Testing Market Report 2023 - 2034
Thyroid Function Testing Market Analysis & Forecast by Test Type 2023 - 2034 (Revenue USD Bn)
- TSH Test
- T4 Test
- T3 Test
- Free T4 Test
- Free T3 Test
- Others
Thyroid Function Testing Market Analysis & Forecast by End-User 2023 - 2034 (Revenue USD Bn)
- Clinics
- Diagnostic Laboratories
- Hospitals
- Research Laboratories & Institutes
Thyroid Function Testing Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Thyroid Function Testing Market: Test Type Estimates & Trend Analysis
8. Thyroid Function Testing Market: End-User Estimates & Trend Analysis
9. Regional Market Analysis
10. North America Thyroid Function Testing Market
11. Europe Global Thyroid Function Testing Market
12. Asia Pacific Global Thyroid Function Testing Market
13. Latin America Global Thyroid Function Testing Market
14. MEA Global Thyroid Function Testing Market
15. Competitor Analysis
16. Company Profiles
Companies Mentioned
- Abbott Laboratories
- Siemens Healthineers
- F. Hoffmann-La Roche Ltd.
- Thermo Fisher Scientific Inc.
- Danaher Corporation
- DiaSorin S.p.A.
- bioMérieux SA
- Ortho Clinical Diagnostics
- Mindray
- Agilent Technologies
- Sysmex Corporation
- Randox Laboratories Ltd.
- Merck KGaA
- Quest Diagnostics
- Bio-Rad Laboratories Inc.
