Thyroid Function Test Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

Thyroid Function Test indicates various blood tests conducted for identifying the functions of thyroid glands. Thyroid gland is a part of the endocrine system, located in the lower front part of the neck.

MARKET SCOPE

The "Global Thyroid Function Test Market Analysis to 2031" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the thyroid function test market with detailed market segmentation by type, indication, end user and geography. The report provides key statistics on the market status of the leading thyroid function test market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on type the market is segmented into thyroid stimulating hormone test, T4 tests, T3 tests and others.
  
•   On the basis of indication, the market is segmented as hypothyroidism, hyperthyroidism, thyroid cancer and others.
  
•   The end user segment is segmented by hospitals and clinics, diagnostic centers and others.
  

MARKET DYNAMICS
Drivers:

•   Increasing prevalence of the thyroid disorders
  
•   Rising awareness regarding thyroid disorders
  
•   Increasing prevalence of lifestyle diseases
  
•   Rising geriatric population
  
•   Increase in consumption of alcohol and tobacco
  

Restraints:

•   Lack of Endocrinologists
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The thyroid function test market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the thyroid function test market in these regions.

IMPACT OF COVID-19 ON THYROID FUNCTION TEST MARKET
The outbreak of the COVID-19 pandemic has highly affected the countries globally. The Covid-19 North American region is highly affected due to the outbreak of the Covid-19 pandemic. Countries such as the US and Canada reported the highest numbers of COVID-19 positive cases. The US-registered highest number of deaths due to the COVID-19 pandemic. The chaotic situation was created in the medical industry across the countries, increased demand for diagnosing and therapeutic devices have dramatically increased in the hospitals. For instance, demand for ventilators, respirators, and in vitro diagnostic (IVD) tests has risen drastically in the hospitals across the countries. On the other hand, demand for personal protective kits has significantly gone up.
In addition, the supply of important equipment and consumables are stagnant. However, dependency on the suppliers from other countries has turned into a long process of deliveries of medical devices and its consumables. Therefore, several medical companies were not able to meet the demand for medical equipment and personal protective equipment across the countries.

Thyroid Function Test Market Report Analysis

Thyroid Function Test Market

• 
  CAGR (2023 - 2031)

  XX%
• Market Size 2023
  US$ XX Million
• Market Size 2031
  US$ XX Million

Report Coverage

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope

• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis

• Industry landscape and competition analysis & recent developments
• Detailed company profiles

• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments

Key Players

• Abbott
• Randox Laboratories Ltd
• bioMerieux SA
• Thermo Fisher
• DiaSorin S.p.A.
• F. HoffmannLa Roche Ltd.
• Siemens Healthineers
• Qualigen Inc.
• Beckman Coulter, Inc.

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

By Type

• Thyroid Stimulating Hormone Test
• T4 Tests
• T3 Tests

By Indication

• Hypothyroidism
• Hyperthyroidism
• Thyroid Cancer

By End User

• Hospitals and Clinics
• Diagnostic Centers

MARKET PLAYERS

The report covers key developments in the thyroid function test market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from thyroid function test market are anticipated to lucrative growth opportunities in the future with the rising demand for cell surface markers in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the thyroid function test market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Abbott
  
•   Randox Laboratories Ltd
  
•   bioMerieux SA
  
•   Thermo Fisher
  
•   DiaSorin S.p.A.
  
•   F. HoffmannLa Roche Ltd.
  
•   Siemens Healthineers
  
•   Qualigen Inc.
  
•   Beckman Coulter, Inc.
  
•   Quidel Corporation
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Thyroid Function Test Market Report Scope