Thyroid Function Test Market to Hit US$ 2.2 Billion by 2028 | IMARC Group

According to the latest research report by IMARC Group, The global thyroid function test market size reached US$ 1.5 Billion in 2022.

SHERIDAN, WYOMING, UNITED STATES, February 6, 2023 /EINPresswire.com/ -- According to the latest research report by IMARC Group, titled “Thyroid Function Test Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, 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.

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.

Thyroid Function Test Market Trends:

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.

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Global Thyroid Function Test Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

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

The report has segmented the market on the basis on region, test type, indication and end user.

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

Key highlights of the report:

Market Performance (2017-2022)

Market Outlook (2023- 2028)

Porter’s Five Forces Analysis

Market Drivers and Success Factors

SWOT Analysis

Value Chain

Comprehensive Mapping of the Competitive Landscape


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