PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1516081
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1516081
Thyroid Function Testing Market - By Product (Instruments, Reagents & Kits), Test Type (TSH Test, T4 Test, T3 Test, Free T4 Test), End-use (Hospitals & Clinics, Diagnostic Laboratories, Research & Academic Institutes) - Global Forecast (2024 - 2032)
Thyroid Function Testing Market size is projected to expand at 6.1% CAGR from 2024 to 2032. The growing prevalence of thyroid disorders like hypothyroidism and hyperthyroidism is necessitating regular monitoring and diagnosis. According to data from the American Cancer Society, the U.S. is projected to witness 44,020 new cases of thyroid cancer in 2024. The rising awareness about thyroid health and its impacts on overall well-being is also boosting the demand for testing techniques.
Significant advancements in diagnostic methods are further enhancing accuracy and efficiency, making tests more accessible and reliable. The expansion of healthcare infrastructure, particularly in emerging economies, is improving access to diagnostic services. The growing aging population is more susceptible to thyroid issues, further accelerating the testing demand. Multiple government initiatives and health programs are encouraging the early detection, diagnosis, and management of thyroid conditions. The increasing adoption of preventive healthcare practices is also positively influencing the industry growth.
The market is bifurcated into product, test type, end-use, and region.
Based on product, the thyroid function testing industry value from the instruments segment is estimated to rise at significant rate between 2024 and 2032, led by advancements in diagnostic technology for enhancing test accuracy and efficiency. The growing focus of healthcare providers on early diagnosis and monitoring is fueling the adoption of advanced instruments. The rising investments in healthcare infrastructure and the expansion of diagnostic laboratories, particularly in emerging markets will add to the product demand.
With respect to end-use, the thyroid function testing market from the diagnostic laboratories segment is estimated to grow at significant rate through 2032. This is due to the growing burden of thyroid disorders and the high demand for accurate, reliable testing. Significant advancements in laboratory equipment are improving testing efficiency and precision. The rising investments in healthcare infrastructure and the expansion of diagnostic services in emerging markets will also favor the segment growth.
Regionally, the Asia Pacific thyroid function testing market size is projected to witness substantial gains between 2024 and 2032, owing to the rising awareness of thyroid disorders and increasing healthcare expenditure. The prevalence of thyroid diseases, coupled with improved diagnostic infrastructure is accelerating the deployment of these tests. The launch of government health initiatives and programs for promoting the early diagnosis and management of thyroid conditions will further fuel the regional industry progression.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market scope & definitions
- 1.2 Research design
- 1.2.1 Research approach
- 1.2.2 Data collection methods
- 1.3 Base estimates & calculations
- 1.3.1 Base year calculation
- 1.3.2 Key trends for market estimation
- 1.4 Forecast model
- 1.5 Primary research and validation
- 1.5.1 Primary sources
- 1.5.2 Data mining sources
Chapter 2 Executive Summary
- 2.1 Industry 360 degree synopsis
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Industry impact forces
- 3.2.1 Growth drivers
- 3.2.1.1 Increasing incidence of thyroid disorders
- 3.2.1.2 Advancements in diagnostic technologies
- 3.2.1.3 Increasing healthcare expenditure
- 3.2.1.4 Rising number of screening programs
- 3.2.2 Industry pitfalls & challenges
- 3.2.2.1 Stringent regulatory scenario
- 3.2.2.2 High cost of diagnostic tests
- 3.2.1 Growth drivers
- 3.3 Growth potential analysis
- 3.4 Technological landscape
- 3.5 Regulatory landscape
- 3.6 Porter's analysis
- 3.7 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.2 Company matrix analysis
- 4.3 Company market share analysis
- 4.4 Competitive positioning matrix
- 4.5 Strategy outlook matrix
Chapter 5 Market Estimates and Forecast, By Product, 2021 - 2032 ($ Mn)
- 5.1 Key trends
- 5.2 Instruments
- 5.3 Reagent & kits
- 5.4 Other products
Chapter 6 Market Estimates and Forecast, By Test Type, 2021 - 2032 ($ Mn)
- 6.1 Key trends
- 6.2 TSH (thyroid stimulating hormone) test
- 6.3 T4 (thyroxine) test
- 6.4 T3 (riiodothyronine) test
- 6.5 Free T4 test
- 6.6 Free T3 test
- 6.7 Other test types
Chapter 7 Market Estimates and Forecast, By End-Use, 2021 - 2032 ($ Mn)
- 7.1 Key trends
- 7.2 Hospitals & clinics
- 7.3 Diagnostic laboratories
- 7.4 Research & academic institutes
- 7.5 Other end-users
Chapter 8 Market Estimates and Forecast, By Region, 2021 - 2032 ($ Mn)
- 8.1 Key trends
- 8.2 North America
- 8.2.1 U.S.
- 8.2.2 Canada
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 France
- 8.3.4 Spain
- 8.3.5 Italy
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 Japan
- 8.4.2 China
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 South Korea
- 8.4.6 Rest of Asia Pacific
- 8.5 Latin America
- 8.5.1 Brazil
- 8.5.2 Mexico
- 8.5.3 Argentina
- 8.5.4 Rest of Latin America
- 8.6 Middle East and Africa
- 8.6.1 Saudi Arabia
- 8.6.2 South Africa
- 8.6.3 UAE
- 8.6.4 Rest of Middle East and Africa
Chapter 9 Company Profiles
- 9.1 Abbott Laboratories
- 9.2 bioMerieux S.A.
- 9.3 Bio-Rad Laboratories, Inc.
- 9.4 Cipla Limited
- 9.5 Danaher Corporation
- 9.6 DiaSorin S.p.A.
- 9.7 F. Hoffmann-La Roche Ltd.
- 9.8 Quidelortho Corporation
- 9.9 Randox Laboratories Ltd.
- 9.10 Siemens Healthineers AG
- 9.11 Thermo Fisher Scientific Inc.
