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|Title||Thyroid Function Tests Market Size, Share and Demand Forecast 2028 | Reports And Data|
|Category||Business --> Biotechnology|
|Meta Keywords||Thyroid Function Tests Market|
Increasing prevalence of thyroid disorders, growing awareness regarding thyroid function tests, and rising need for early detection are key factors driving market growth
Thyroid Function Tests Market Size – USD 1.51 Billion in 2020, Market Growth – at a CAGR of 6.2%, Market Trends – Increasing incidence of chronic diseases worldwide
The global thyroid function tests market size is expected to reach USD 2.44 Billion by 2028 at a CAGR of 6.2%, according to the latest report by Reports and Data. Growing incidence of lifestyle diseases, rapidly rising incidence of thyroid disorders, and increasing demand for efficient and early detection of disorders to improve their management are key factors expected to drive market revenue growth over the forecast period. In addition, gradually growing awareness regarding thyroid disorders in developing countries, increasing private and public investment, and rising caseload of thyroid cancer are also expected to contribute to market growth going ahead.
Thyroid function tests are a series of blood tests carried out to measure the levels of thyroid hormones in bloodstream and assess function of the thyroid gland. Thyroid gland is a butterfly shaped gland located in the lower part of the neck which secretes two main hormones; triiodothyronine (T3) and thyroxine (T4). Thyroid gland maintains and regulates numerous body processes such as metabolism, energy production, and mood. Disruption in the levels of either of these two hormones could indicate thyroid dysfunction and can have several causes such as high alcohol consumption and smoking, obesity, diabetes, and cardiovascular disorders. Thyroid function tests diagnose and differentiate between an overactive and an underactive thyroid gland. Thyroid function tests are designed to differentiate hyperthyroidism and hypothyroidism from euthyroid state. These tests are also carried out to monitor treatment with thyroid replacement medicine in people with hypothyroidism and measure thyroid function in people with hyperthyroidism.
Increasing prevalence of sedentary lifestyle and lifestyle-induced diseases such as obesity, diabetes, and heart conditions across all age group has further boosted demand for thyroid function tests as a routine assessment. This is expected to contribute significantly to revenue growth of the market over the forecast period. However, dearth of skilled endocrinologists, low awareness about thyroid conditions and diagnostic tests in underdeveloped countries, and unfavorable reimbursement scenario are expected to restrain market growth to a certain extent over the forecast period.
Prominent companies in the market include:
Thermo Fisher Scientific, Inc., Abbott Laboratories, Roche
AG, DiaSorin, Danaher Corporation, Kronus, Merck KGaA, Cortez Diagnostics,
Siemens Healthineers, bioMérieux, Qualigen, and Autobio Diagnostics, among
Some Key Highlights from the Report:
For the purpose of this report, Reports and Data has segmented the global thyroid function tests market based on type, end-use, and region:
Type Outlook (Revenue, USD Billion; 2018-2028)
End-use Outlook (Revenue, USD Billion; 2018-2028)
Regional Outlook (Revenue, USD Billion; 2018-2028)
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