Thyroid Function Tests Market Will Reach To USD 2.44 Billion By 2028 | At a CAGR 6.2% – By Reports and Data

Thyroid Function Tests Market
Thyroid Function Tests Market

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.

Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @https://www.reportsanddata.com/sample-enquiry-form/4014  

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.

Browse Full Report Description + Research Methodology + Table of Content + Infographics @https://www.reportsanddata.com/report-detail/thyroid-function-tests-market  

The pharma and healthcare industry is expected to observe significant growth over the coming years attributed to the increasing incidence of chronic diseases across the globe, growing geriatric patient pool, availability of advanced and minimally invasive surgical and diagnostics procedures, favorable reimbursement scenario, and presence of a robust product pipeline of drugs and therapeutics. In addition, growing integration of IoT, ML, and AI in medical procedures and equipment along with rapid progress in drug design and development. Combination of innovation and technology has brought about massive changes in the healthcare industry and the rapid adoption of telemedicine, remote consultation, and e-prescription have significantly contributed to the revenue growth of the market.

Request a customization on the report @https://www.reportsanddata.com/request-customization-form/4014 

Some Key Highlights From the Report:

  • TSH test segment is expected to register significant revenue share over the forecast period owing to increasing burden of thyroid disorders and chronic diseases, growing demand for cost-efficient diagnostic tests, and growing prevalence of subclinical hypothyroidism.
  • Hospitals segment is expected to register rapid revenue CAGR over the forecast period attributable to increasing application of thyroid function tests in hospitals, growing patient pool, and improved affordability of thyroid panel in hospital-based laboratories.
  • North America is expected to account for largest revenue share in the global market over the forecast period owing to the rising prevalence of thyroid disorders and autoimmune disorders, establishment of state-of-the-art healthcare infrastructure, and adoption of thyroid function tests in routine health assessments.
  • 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 others.

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)

  • TSH
  • T3
  • T4
  • Other tests

End-use Outlook (Revenue, USD Billion; 2018-2028)

  • Hospitals
  • Diagnostic Laboratories
  • Research Laboratories & Institutes

Regional Outlook (Revenue, USD Billion; 2018-2028)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • Italy
    • France
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • U.A.E.
    • South Africa
    • Rest of MEA

Growing popularity of over-the-counter medications driving market growth

Growing incidence of acute and chronic diseases and lesser access to advanced medical facilities owing to low disposable income levels are driving the demand for over-the-counter medications. Availability of generic and low-cost alternatives to medical therapies are some other factors playing a major role in driving demand for over-the-counter medications.

Restriction on product launches and R&D activities to hamper market growth

Imposition of strict government regulations and shortage of funds have put a halt on the product launches and R&D activities and are expected to restrain market growth over the forecast period. In addition, launch of expensive drugs and therapies and increasing regulations regarding safety and approvals are also hampering market growth.

Press Release Available @https://www.reportsanddata.com/press-release/global-thyroid-function-tests-market 

Thank you for reading our report. For more details please connect with us and our team will ensure the report is customized to meet all the needs of clients. The report also offers a comprehensive regional analysis and specific countries can be included in the report according to the requirements.

Explore More Industry Research by Reports and Data:

Medical Foods Market @ https://www.biospace.com/article/demand-for-specific-medical-foods-instead-of-drugs-to-treat-chronic-diseases-is-expected-to-drive-medical-foods-market-revenue-growth/

Hospital Acquired Infection Treatment Market @ https://www.biospace.com/article/increased-the-prevalence-of-hais-across-the-globe-is-expected-to-increase-demand-for-hospital-acquired-infection-treatment-market/

Transplantation Market @ https://www.biospace.com/article/transplantation-market-growth-by-2030-continuous-technological-advancements-in-transplantation-methods-and-emergence-of-tissue-banks-in-developing-countries/

Medical Devices Market @ https://www.biospace.com/article/medical-devices-market-growth-by-2030-increase-in-demand-for-better-healthcare-worldwide/

About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Contact Us:

John W, Head of Business Development

Reports And Data | Web: www.reportsanddata.com

Direct Line: +1-212-710-1370

E-mail: [email protected]reportsanddata.com

LinkedIn | Twitter | Blogs

Read the innovative blog at https://www.reportsanddata.com/blogs

Check out our upcoming research report at https://www.reportsanddata.com/upcoming-reports

For More Research Insights on Leading Industries, Visit Our YouTube Channel and hit subscribe for Future Update: https://www.youtube.com/channel/UChLqKTFLm6sVBLEUjnadIhQ/video

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *