(PharmaNewsWire.Com, April 20, 2021 ) The Thyroid Function Test Market 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.
According to the new market research report “Thyroid Function Test Market by Type (TSH Tests, T4 Tests, T3 Tests), End User (Hospitals, Diagnostic Laboratories, Research Laboratories & Institutes), and Region (North America, Europe, APAC, LATAM, and MEA) – Global Forecast” published by MarketsandMarkets™.
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 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. Primary sources such as experts from both supply and demand sides have been interviewed to obtain and validate information as well as to assess dynamics of this market. The breakdown of profiles of primaries is shown in the figure below:
Expected Revenue Surge: The Global thyroid function tests market is projected to reach USD 1.68 Billion, at a CAGR of 5.9% during the forecast period
Geographical Scenario in Depth:
The North American market is expected to account for the largest share of the global thyroid function test market due to the presence of an advanced healthcare infrastructure in North American countries such as the US and Canada. However, the Asia Pacific market is expected to grow at the highest CAGR in the forecast period. This growth can be attributed to factors such as the presence of a large target patient population, increasing disposable income of the middle-class population, and improving healthcare infrastructure in emerging countries such as China and India.
Leading Key-Players:
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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