The Thyroid Test Market is expected
to reach USD 1.87 Billion by 2032 at 5.7% CAGR during the forecast period 2023-2032.
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 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 in the Middle East & Africa has been bifurcated into the Middle
East and Africa.
Key Players
The Global Thyroid Test Market Players 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).
Segmentation
The Global Thyroid Test Market 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.
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