Market Highlights
The Thyroid Test Market
Outlook and Analysis By Type
(TSH Tests, T4 Tests, T3 Tests, Other) and By End-User (Hospital, Diagnostic
Laboratories, Research Laboratories and Institutes) – Forecast to 2030
Thyroid Test Market size is expected to register a CAGR of
5.8 % and was valued at USD 1,807 Million.
Thyroid is a small gland in the lower-front part of the
neck. It is responsible for the regulation of many of the body’s processes,
such as metabolism, energy generation, and mood. Thyroid tests are a series of
blood tests such as T3, T3RU, T4, and TSH used to check the function of the
thyroid.
The growth of the Global Thyroid
Test Market is driven by various factors such as an increase in the
prevalence of thyroid disorders, increasing prevalence of lifestyle diseases,
and increasing mergers & acquisitions by prominent players in the market.
However, lack of knowledge about the symptoms and causes of the thyroid is
projected to hamper the growth of the global thyroid test market.
The Global Thyroid Test Market is currently dominated by
several market players. Additionally, growing initiatives to create awareness
is driving the growth of the market. For instance, in 2017, Merck Serono,
partnered with the Ministry of Health in Saudi Arabia, for a long-term
awareness program named “Fly like a butterfly” and signed a memorandum of
understanding to raise awareness of thyroid disorders.
Regional Analysis
The market has been divided, by region, into the Americas,
Europe, Asia-Pacific, and the Middle East & Africa. The Americas is
expected to be the largest market owing to the rising per capita healthcare
expenditure. The Thyroid Test Market Share in the Americas has further been
branched into North America and Latin America, with the North American market
divided into the US and Canada. The European thyroid test market has been
categorized as Western Europe and Eastern Europe. The Western European market has
further been classified as Germany, France, the UK, Italy, Spain, and the rest
of Western Europe. The thyroid test market in Asia-Pacific has been segmented
into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific.
Due to the increasing prevalence of thyroid disorders and increasing patient
pool, the market in Asia-Pacific is expected to be the fastest-growing. The Thyroid
Test Market Share in the Middle East & Africa has been bifurcated into the
Middle East and Africa.
Segmentation
The Global Thyroid Test Market share has been segmented
based on type and end-user.
The market, based on type, has been divided into TSH tests,
T4 tests, T3 tests, and other tests.
The TSH tests segment is likely to be the largest during
the review period, as TSH tests are the most common test used to check the
function of thyroid. A high TSH level most often means you have hypothyroidism
or an underactive thyroid.
In terms of end-user, the global thyroid test market has
been segmented into hospitals, diagnostic laboratories, and research
laboratories and institutes. Hospitals take up the largest share. The positive
growth of hospitals is attributed to their rising need to offer treatments to
various health disorders. Additionally, the growing rate of hospitals is also
driving the growth of the hospital's segment.
Key Players
Some of the Key Players in the Global Thyroid Test Market are Abbott (US), Merck
(Germany), Thermo Fisher (US), Danaher (US), Roche (Switzerland),
Diasorin(Italy), Biomérieux(France), Diagnostic Automation/Cortez Diagnostics
(US), Qualigen(US), Kronus(US), and Autobio Diagnostics(China).
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