Thyroid Function Tests Market Worth 1.68 Billion USD by 2022

According to a new market research report "Thyroid Function Test Market by Type (TSH Tests, T4 Tests, T3 Tests), End User (Hospitals, Diagnostic Laboratories, Research Laboratories & Institutes), and Region (North America, Europe, APAC, LATAM, and MEA) - Global Forecast to 2022", published by MarketsandMarkets™, the market is expected to reach USD 1.68 Billion by 2022 from an estimated USD 1.26 Billion in 2017, at a CAGR of 5.9%. Factors such as increasing incidence of thyroid disorders, awareness about thyroid disorders, prevalence of lifestyle diseases, rising geriatric population, and increasing consumption of alcohol and tobacco are driving the growth of the market.

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By type, the TSH tests segment is expected to account for the largest share of the market in 2017 

On the basis of type, the market is segmented into TSH tests, T4 tests, T3 tests, and other tests. In 2017, the TSH tests segment is estimated to account for the largest share of the Thyroid Function Tests Market. The large share rate of this segment can be attributed to the fact that TSH tests are initially prescribed by physicians to majority of patients (for the assessment of thyroid gland functioning) showing symptoms of thyroid disorders.

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By end user, the hospitals segment is expected to account for the largest share of the market in 2017 

Based on end users, the global Thyroid Function Tests Market is broadly segmented into hospitals, diagnostic laboratories, research laboratories and institutes, and other end users. The hospitals segment is estimated to account for the largest share of the global Thyroid Function Tests Market in 2017. The large share of the segment can be attributed to the growing patient population & the subsequent increase in clinical tests performed in hospitals and growing number of public healthcare awareness campaigns organized by hospitals.

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North America is estimated to dominate the market in 2017 

In 2017, North America is expected to account for the largest share of the global Thyroid Function Tests Market. This large share can be attributed to factors such as the high prevalence of thyroid disorders in the region, rising geriatric population, and increasing initiatives by the Canadian government for healthcare development in the country.

The prominent players in the global Thyroid Function Tests Market include Thermo Fisher (US), Abbott (US), Roche (Switzerland), DiaSorin (Italy), Danaher (US), Kronus (US), Merck (Germany), Cortez Diagnostics (US), bioMérieux (France), Qualigen (US), and Autobio Diagnostics (China).

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