Thyroid Function Test Market to Reach $1.80 Bn, Globally, by 2026 at 5.3% CAGR: Allied Market Research

Rise in thyroid disorder prevalence, increase in aging population, and surge in healthcare expenditure worldwide augment the growth of the global thyroid function test market

News provided by

Allied Market Research

May 04, 2020, 09:50 ET

PORTLAND, Oregon, May 4, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Thyroid Function Test Market by Test Type (TSH Tests, T3 Tests, T4 Tests, and Other Tests) and End User (Diagnostic Laboratories, Hospitals, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global thyroid function test industry $1.19 billion in 2018, and is estimated to reach $1.80 billion by 2026, growing at a CAGR of 5.3% from 2019 to 2026.

Prime determinants of growth

Increase in thyroid disorder prevalence, surge in aging population, and rise in healthcare expenditure worldwide propel the growth of the global thyroid function test market. However, lack of sufficient awareness regarding the tests in under-developed nations restrains the market growth. On the other hand, huge scope of growth in emerging nations creates new pathways for the next few years.

Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/6478

The TSH tests segment to maintain its highest contribution in terms of revenue by 2026

On the basis of test type, the TSH tests segment accounted for more than one-third of the total share of the global thyroid function test market in 2018, and is estimated to maintain its highest contribution in terms of revenue during the forecast period. This is due to rise in thyroid disorder prevalence and usage of TSH tests for carrying out preliminary screening. However, the T4 tests segment is estimated to witness the fastest CAGR of 6.5% from 2019 to 2026, owing to surge in thyroid screening, increase in number of population affected by thyroid disorders, and rise in awareness of early screening. The research also analyzes segments such as T3 tests and others.

The diagnostic laboratories segment to maintain its leadership status during the forecast period

On the basis of end user, the diagnostic laboratories segment contributed to the largest market share with nearly three-fifths of the global thyroid function test market share in 2018, and is expected to maintain its leadership status during the forecast period. This is attributed to huge presence of diagnostic laboratory and preference for usage of diagnostic laboratory for thyroid screening. However, the hospitals segment is expected to generate the highest CAGR of 6.1% from 2019 to 2026. This is due to enhanced infrastructure in hospitals in developing countries, increase in number of hospitals with advanced medical facilities, and surge in number of thyroid testing cases.

North America to maintain its dominant share throughout the forecast period

Based on region, North America contributed to the largest share on the basis of revenue, accounting for nearly two-fifths of the total share in 2018 and would maintain its dominant share throughout the forecast period. This is due to high prevalence of thyroid disorders, implementation of well-developed healthcare infrastructure, and availability of trained medical professionals. However, Asia-Pacific is estimated to witness the highest CAGR of 6.6% from 2019 to 2026, owing to increase in prevalence of thyroid function test systems, growth in awareness for early screening, and rise in number of public healthcare awareness campaigns.

For Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/6478

Leading market players

Abbott Laboratories
Danaher Corporation
Biomerieux
DiaSorin
Diagnostic Automation/Cortez Diagnostics Inc.
KRONUS
F. Hoffmann-La Roche AG
Qualigen Inc.
Merck KGaA
ThermoFisher Scientific

Avenue Basic Plan | Library Access | 1 Year Subscription |

Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter

Get more information: https://www.alliedmarketresearch.com/library-access

Hydrogel Dressing Market Global Opportunity Analysis and Industry Forecast, 2020–2027

VR in Healthcare Market Global Opportunity Analysis and Industry Forecast, 2019-2026

Menstrual Cup Market Global Opportunity Analysis and Industry Forecast, 2019–2026

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): 1-800-792-5285, 1-503-894-6022, 1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research