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Thyroid Function Test Market Size 2019 – Growing Demand Status of Top Manufacturers with Industry Share, Size, Projection, Consumption Forecast to 2024

Thyroid

The “Thyroid Function Test Market” report 2019 covers all the significant developments which are recently being adopted across the global market. The prime objective of Thyroid Function Test market report is to provides an in-depth analysis of all market dynamics including drivers and restraints, and trends and opportunities. The Thyroid Function Test market report covers both the demand and supply aspect of the market. The report also highlighted the future trends in the Thyroid Function Test market that will impact the demand during the forecast period.

Scope of the Report:

  • Thyroid function tests are a series of blood tests used to determine the condition of the thyroid gland, whether it is working properly, and diagnosing hyperthyroidism and hypothyroidism. The general tests include the tests for T3, T3RU, T4, and TSH hormones (secreted by thyroid glands), which measure the activities of the thyroid gland.

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    Market Overview:

  • The thyroid function test market is expected to witness a CAGR of 6% during the forecast period. Certain factors that are driving the growth of the market include rising incidence of thyroid disorders, increasing consumption of tobacco and alcohol, and sedentary lifestyle.
  • Thyroid diseases have become a significant public health concern across the world. The risk factors include genetic background, environmental exposures, insufficient iodine intake, exposure to polychlorinated biphenyls, radiation from nuclear fallout and medical radiation, and alcohol and tobacco consumption, among others. As per the American Thyroid Association, approximately 20 million US citizens have some form of thyroid disease (2017). The thyroid function test market is witnessing substantial growth due to the high prevalence of thyroid disorder, as well as due to the rising consumption of alcohol and tobacco.
  • Alcohol consumption is considered to be one of the most significant risk factors for disease and disability. Globally, high-income countries of the developed regions have the highest alcohol consumption, with 50.1% of the US population (adults over 18 years of age) being regular drinkers. As per various studies, there is a negative relationship between the hypothalamic-pituitary-thyroid (HPT) axis and alcoholism. Regular drinking inhibits the peripheral thyroid hormones, frees T3 and T4, and reduces the activity of type II 5’-deiodinase, which further affects the metabolic function, leading to the development of hypothyroidism. Tobacco also induces changes in thyroid function tests, such as the decrease in TSH and increase in thyroid hormones.
  • Furthermore, tobacco smoking plays a crucial role in thyroid autoimmunity. A few research studies confirmed the significant effect of smoking on Graves’ hyperthyroidism, particularly on Graves’ orbitopathy. Other factors contributing to the growth of the thyroid function test market are the rising incidence of thyroid disorders and a sedentary lifestyle.
  • However, the shortage in endocrinologists is expected to limit the growth of the thyroid function test market. Endocrinologists play a pivotal role in treating patients with some of the most complex and prevalent conditions faced in the United States today. At present, fewer than 6,500 endocrinologists are available in the country to provide care for the millions of patients who have diabetes, thyroid disease, osteoporosis, and other hormonal conditions. Even the compensation for endocrinologists is the lowest of any internal medicine specialty, which is predicted to harm the growth of the thyroid function test market. Another factor contributing to the slow growth of the thyroid function test market is the difficulty associated with the interpretation of thyroid blood tests.<

    Some of the Top Key Players of Thyroid Function Test Market Report Are:

  • Abbott
  • Autobio Diagnostics
  • bioMerieux SA
  • Danaher Corporation
  • DiaSorin SpA
  • F. Hoffmann
  • La Roche Ltd
  • Qualigen Inc.
  • Quidel Corporation
  • Siemens Healthineers
  • Thermo Fisher Scientific Inc.

    Report Highlights:

    • Market Dynamics – Drivers, Restraints, and Opportunities
    • Market Segmentation – Types, Applications, Regions, and Technology
    • Market Trends
    • Competitive Landscape
    • SWOT Analysis and Porter’s Five Forces Analysis

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    Key Market Trends:

    TSH Test is Expected to Hold the Largest Market Share in the Test Type

    TSH measurement has recently gained a dominant role in thyroid function testing, further facilitating cost-effective disease screening, and also introducing new definitions of subclinical hypothyroidism or hyperthyroidism, along with delivering biochemical treatment targets. TSH (thyroid stimulating hormone) test measures how much of this hormone is in a patient’s blood. The test finds out whether the thyroid gland is working the way it should. It is very little to no risk in taking the blood test. The slight pain or bruising at the spot where the needle was put in goes away quickly.

    However, A TSH test cannot explain why TSH levels are too low or too high. If the test results are abnormal, the healthcare provider generally orders additional tests to determine the cause of the thyroid problem. These tests may include T4 thyroid hormone tests, T3 thyroid hormone tests, tests to diagnose Graves’ disease (an autoimmune disease that causes hyperthyroidism), or tests to diagnose Hashimoto’s thyroiditis (an autoimmune disease that causes hypothyroidism).

    North America Dominates the Market and Expected to Keep its Position in the Forecast Period

    Based on the geographical analysis, North America is predicted to lead the thyroid function test market, owing to the prevalence of thyroid cancer in the United States. As per the National Cancer Institute, in 2015, there were around 765,547 people living with thyroid cancer in the United States and the number of new cases of thyroid cancer was 14.5 per 100,000 men and women per year.

    The North American region is also likely to witness a major growth, owing to several initiatives such as the compulsory screening of newborns for congenital hypothyroidism, revolutionary research work on thyroid hormone function, cost-effective methods to detect thyroid cancer, promising research on Graves’ disease, etc., which may further lead to improved prognosis and new preventive treatments of thyroid diseases.

    The Report Covers:

    • Comprehensive research methodology of Thyroid Function Test market
    • In-depth analysis of macro and micro factors influencing the market guided by key recommendations.
    • Analysis of regional regulations and other government policies impacting the global sleep aid market
    • Insights about market determinants which are stimulating the global Thyroid Function Test market
    • Detailed and extensive market segments with regional distribution of forecasted revenues
    • Extensive profiles and recent developments of market players Companies Mentioned

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    Detailed TOC of Thyroid Function Test Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Market Drivers
    4.2.1 Rising Incidence of Thyroid Disorders
    4.2.2 Increasing Consumption of Tobacco and Alcohol
    4.2.3 Sedentary Lifestyle
    4.3 Market Restraints
    4.3.1 Problems associated with Interpretation of Thyroid Blood Tests
    4.3.2 Shortage of Endocrinologists
    4.4 Porter’s Five Forces Analysis
    4.4.1 Threat of New Entrants
    4.4.2 Bargaining Power of Buyers/Consumers
    4.4.3 Bargaining Power of Suppliers
    4.4.4 Threat of Substitute Products
    4.4.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 Test
    5.1.1 TSH Test
    5.1.2 T4 Test
    5.1.3 T3 Test
    5.1.4 Other Tests
    5.2 End User
    5.2.1 Hospital
    5.2.2 Diagnostic Laboratory
    5.2.3 Other End Users
    5.3 Geography
    5.3.1 North America
    5.3.1.1 US
    5.3.1.2 Canada
    5.3.1.3 Mexico
    5.3.2 Europe
    5.3.2.1 Germany
    5.3.2.2 UK
    5.3.2.3 France
    5.3.2.4 Italy
    5.3.2.5 Spain
    5.3.2.6 Rest of Europe
    5.3.3 Asia-Pacific
    5.3.3.1 China
    5.3.3.2 Japan
    5.3.3.3 India
    5.3.3.4 Australia
    5.3.3.5 South Korea
    5.3.3.6 Rest of Asia-Pacific
    5.3.4 Middle East & Africa
    5.3.4.1 GCC
    5.3.4.2 South Africa
    5.3.4.3 Rest of Middle East & Africa
    5.3.5 South America
    5.3.5.1 Brazil
    5.3.5.2 Argentina
    5.3.5.3 Rest of South America

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 Abbott
    6.1.2 Autobio Diagnostics
    6.1.3 bioMerieux SA
    6.1.4 Danaher Corporation
    6.1.5 DiaSorin SpA
    6.1.6 F. Hoffmann-La Roche Ltd
    6.1.7 Qualigen Inc.
    6.1.8 Quidel Corporation
    6.1.9 Siemens Healthineers
    6.1.10 Thermo Fisher Scientific Inc.

    7 MARKET OPPORTUNITIES AND FUTURE TRENDS

     

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