(PharmaNewsWire.Com, June 04, 2020 ) [120 Pages Report] The Global Thyroid Function Test Market is projected to reach USD 1.68 Billion, at a CAGR of 5.9% during the forecast period. The growth can be attributed to factors such as increasing incidence of thyroid disorders, increasing awareness about thyroid disorders, increasing prevalence of lifestyle diseases, rising geriatric population, and increasing consumption of alcohol and tobacco.
Research Methodology:
Both, top-down and bottom-up approaches were used to estimate and validate the size of the global market and to estimate the size of various other dependent submarkets in the overall thyroid function test industry. Various secondary sources, such as associations like American Thyroid Association, British Thyroid Foundation, American Association for Clinical Chemistry, European Thyroid Association (ETA), Asia & Oceania Thyroid Association, Asia-Pacific Society of Thyroid Surgery, Latin American Thyroid Society, directories, industry journals, databases, and annual reports of the companies have been used to identify and collect information useful for the study of this market.
By type, the TSH tests segment is expected to account for the largest share of the market.
On the basis of type, the market is segmented into TSH tests, T4 tests, T3 tests, and other tests. In 2017, the TSH tests segment is estimated to account for the largest share of the thyroid function tests market. The large share rate of this segment can be attributed to the fact that TSH tests are initially prescribed by physicians to majority of patients (for the assessment of thyroid gland functioning) showing symptoms of thyroid disorders.
By end user, the hospitals segment is expected to account for the largest share of the market.
Based on end users, the global thyroid function tests market is broadly segmented into hospitals, diagnostic laboratories, research laboratories and institutes, and other end users. The hospitals segment is estimated to account for the largest share of the global thyroid function tests market in 2017. The large share of the segment can be attributed to the growing patient population & the subsequent increase in clinical tests performed in hospitals and growing number of public healthcare awareness campaigns organized by hospitals.
Objectives of the Study:
- To define, describe, segment, and forecast the global market by type, end user, and region
- To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
- To analyze micromarkets with respect to the individual growth trends, prospects, and contributions to the overall market
- To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
- To profile the key players and comprehensively analyze their product portfolios, market shares, and core competencies in the global thyroid function tests market
North America is expected to account for the largest share of the global thyroid function tests market. This large share can be attributed to factors such as the high prevalence of thyroid disorders in the region, rising geriatric population, and increasing initiatives by the Canadian government for healthcare development in the country.
The prominent players in the global thyroid function tests market include Thermo Fisher (US), Abbott (US), Roche (Switzerland), DiaSorin (Italy), Danaher (US), Kronus (US), Merck (Germany), Cortez Diagnostics (US), bioMérieux (France), Qualigen (US), and Autobio Diagnostics (China).
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