Global Thyroid Function Test Market Growth, Trends, and Forecasts Report 2020-2025 – ResearchAndMarkets.com | Financial Buzz

Global Thyroid Function Test Market Growth, Trends, and Forecasts Report 2020-2025 – ResearchAndMarkets.com

The “Thyroid Function Test Market – Growth, Trends, and Forecasts (2020 – 2025)” report has been added to ResearchAndMarkets.com’s offering.

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.

As per the American Thyroid Association, approximately 20 million citizens in the United States 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 in the developed regions have the highest alcohol consumption, with 50.1% of the United States 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.

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.

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. Another factor contributing to the slow growth of the thyroid function test market is the difficulty associated with the interpretation of thyroid blood tests.

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 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. There 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, the 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 is 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 2017, there were around 218,853 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, and promising research on Graves’ disease, which may further lead to improved prognosis and new preventive treatments of thyroid diseases.

Competitive Landscape

The thyroid function test market, which is highly competitive, consists of a number of major players. Companies, such as Abbott, Autobio Diagnostics, BioMerieux SA, Danaher Corporation, DiaSorin SpA, F. Hoffmann-La Roche Ltd, Qualigen Inc., Qualigen Inc., Siemens Healthineers, and Thermo Fisher Scientific Inc., hold a substantial market share in the thyroid function test market.

Key Topics Covered:

1 INTRODUCTION

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

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

6 COMPETITIVE LANDSCAPE

6.1 Company Profiles

6.1.1 Abbott Laboratories

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

For more information about this report visit https://www.researchandmarkets.com/r/sodeqw

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