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Thyroid Function Test Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Report Format: PDF+Excel | Report ID: SR112023A4132
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Market Overview:
The global thyroid function test market size reached US$ 1.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.2 Billion by 2028, exhibiting a growth rate (CAGR) of 5.96% during 2023-2028.
Thyroid function tests are used to measure the levels of hormones in the blood. They help healthcare professionals diagnose diseases like thyroiditis, nodules, cancer, tumors, goiter, Graves’, Hashimoto’s, hyperthyroidism, and hypothyroidism. Some of the tests advised by doctors to evaluate thyroid function include triiodothyronine (T3), thyroxine (T4), calcitonin, thyroglobulin, thyroid antibody, and thyroid-stimulating hormone (TSH). Presently, there is a rise number of infants with elevated thyrotropin receptor autoantibodies (TRAb), advanced bone age, and craniosynostosis are at a high risk of developing thyroid-related conditions. As a result, there is an increase in the demand for thyroid function tests to screen newborn babies for inherited problems with the thyroid gland.
Thyroid Function Test Market Trends:
Certain medications, such as amiodarone and lithium, and conditions like Type 1 diabetes, Coeliac, Addison's, Down's, and Turner syndrome increase the risk of developing thyroid. This, in confluence with a plethora of medical ailments and easy access to healthcare services, represents one of the significant factors positively influencing the need for thyroid function tests. Moreover, thyroid hormones maintain the functions of the brain, heart, muscles, and other organs and their under or overproduction can lead to serious health deteriorations. This, along with the increasing awareness about early diagnosis and improving diagnostic modalities, is contributing to market growth. Besides this, the growing geriatric population and considerable number of awareness campaigns supported by health agencies of numerous countries are driving the market for thyroid function tests. Furthermore, governments of various countries are planning to mandate newborn screening programs due to the rising prevalence of congenital conditions among infants. This, coupled with the increasing concerns among parents about the health of their children, is bolstering the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global thyroid function test market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on test type, indication and end user.
Breakup by Test Type:
- TSH Tests
- T3 Tests
- T4 Tests
- Others
Breakup by Indication:
- Hypothyroidism
- Hyperthyroidism
- Thyroid Cancer
- Others
Breakup by End User:
- Hospitals
- Diagnostic Laboratories
- Others
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
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2022 |
| Historical Period | 2017-2022 |
| Forecast Period | 2023-2028 |
| Units | US$ Billion |
| Segment Coverage | Test Type, Indication, End User, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | 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. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global thyroid function test market was valued at US$ 1.5 Billion in 2022.
We expect the global thyroid function test market to exhibit a CAGR of 5.96% during 2023-2028.
The rising demand for thyroid function tests to diagnose diseases, such as nodules, cancer, tumors, goiter, etc., and screen newborn babies with inherited problems in the thyroid gland is primarily driving the global thyroid function test market.
The sudden outbreak of the COVID-19 pandemic had led to postponement of elective thyroid tests to reduce the risk of the coronavirus infection upon hospital visits and interaction with medical equipment, thereby negatively impacting the global market for thyroid function tests.
Based on the test type, the global thyroid function test market can be categorized into TSH tests, T3 tests, T4 tests, and others. Currently, TSH tests account for the majority of the global market share.
Based on the indication, the global thyroid function test market has been segregated into hypothyroidism, hyperthyroidism, thyroid cancer, and others. Among these, hypothyroidism holds the largest market share.
Based on the end user, the global thyroid function test market can be bifurcated into hospitals, diagnostic laboratories, and others. Currently, hospitals exhibit a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global thyroid function test market include 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.
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