IMARC Group, a leading market research company, has recently releases report titled “Thyroid Function Test Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global thyroid function test market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the thyroid function test market?

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.

What is a thyroid function test?

A thyroid function test is used to detect the proper functionality of thyroid glands by measuring the amounts of thyroid hormones in the blood. It is widely available as triiodothyronine (T3), thyroxine (T4), free T3, reverse T3, and thyroid-stimulating hormone (TSH). It assists in identifying diseases, such as hyperthyroidism, hypothyroidism, nodules, cancer, tumors, and goiter. As a result, it is employed in hospitals, clinics, and diagnostic and research laboratories and institutes across the globe.

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What are the growth prospects and trends in the thyroid function test industry?

At present, the rising prevalence of thyroid disorders and lifestyle diseases among individuals represents one of the key factors contributing to market growth. Besides this, the growing consumer awareness about early screening of diseases, along with the presence of advanced diagnostic centers, is offering a positive market outlook. Apart from this, the increasing demand for thyroid function test as it diagnoses auto-immune disorder, such as Hashimoto’s disease, Grave’s disease, and Thyroiditis, is positively influencing the market. Moreover, the rising geriatric population and advancements in testing procedures is bolstering the growth of the market. Furthermore, the increasing number of awareness campaigns about the benefits of thyroid function test by governing agencies of various countries is strengthening the growth of the market.

What is included in market segmentation?

The report has segmented the market into the following categories:

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 (U.S. Canada)
  • Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
  • Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
  • Latin America (Brazil, Mexico)
  • Middle East Africa

Who are the key players operating in the industry?

The report covers the major market players including:

  • Abbott Laboratories
  • Autobio Diagnostics Co. Ltd
  • bioMérieux SA
  • Diagnostic Automation/Cortez Diagnostics Inc.
  • DiaSorin S.p.A.
  • Hoffmann-La Roche AG
  • Merck KGaA
  • Qualigen Inc.
  • Quidel Corporation
  • Siemens AG,
  • Thermo Fisher Scientific Inc.

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