Global Thyroid Function Test Industry Is Expected to Reach US$2.64 Billion at a Consistent 4.2% CAGR by 2033 | FMI

Global Thyroid Function Test Industry

Global Thyroid Function Test Industry

The Global Thyroid Function Test Industry is on track for significant growth, according to a recent industry analysis. The market, currently valued at US$1.75 billion in 2023, is projected to reach US$2.64 billion by 2033, reflecting a robust Compound Annual Growth Rate (CAGR) of 4.2%. This steady expansion signifies a growing demand for thyroid function testing and highlights the increasing focus on thyroid health.

The thyroid function test market has demonstrated resilience and adaptability in the face of evolving healthcare landscapes. As thyroid disorders become increasingly prevalent globally, diagnostic technologies play a pivotal role in early detection and effective management.

Request a Sample of this Report Now!
https://www.futuremarketinsights.com/reports/sample/rep-gb-454

Hospitals will continue to be the leading end-use segment for thyroid function tests, representing revenues worth US$ 22.2 Mn in 2016, up from US$ 21.3 Mn in 2015. Hospitals will be the fastest-growing end-use segment, followed by research organizations and diagnostic laboratories. Clinics will remain the smallest end-use segment in 2016, witnessing the lowest growth rate vis-à-vis other segments.

Long-term Outlook:

 FMI forecasts moderate long-term growth for the India thyroid function test market, with global revenues expected to surpass US$ 55.3 Mn by 2025. During the period 2015-2025, the India thyroid function test market is anticipated to increase at 3.2% CAGR.

Competitive Landscape from the Global Thyroid Function Test Industry

Some of the key players covered in the India thyroid function test market report include

  • Sigma-Aldrich Co. LLC. (Merck & Co., Inc.)
  • Beckman Coulter, Inc.
  • (Danaher)
  • Siemens Healthcare GmbH
  • Abbott Laboratories

The report offers insights on the various strategies related to software development, and market consolidation initiatives and analyses the various market players’ specific strengths, weaknesses, opportunities, and threats.

Click for Methodology Details!
https://www.futuremarketinsights.com/request-report-methodology/rep-gb-454

Drivers and Trends

The cardinal factor fuelling the growth of the Indian thyroid function test market is the high prevalence of thyroid disorders in the country. During an epidemiology study across major cities in India, Kolkata was reported to have the highest prevalence of hypothyroidism (21.67%) compared to other cities. Over the past few years, there have been significant advancements in the specificity and sensitivity of thyroid testing, which has impacted the treatment of thyroid disorders.

The Indian healthcare industry has witnessed significant advancements in medical devices and pathological laboratory business segments. Domestic and international companies are entering into joint ventures and strategic agreements owing to increasing standardization, availability of human resources, and a high level of progress in medical technology.

India is witnessing various trends that are expected to bring substantial changes in the landscape of the healthcare industry in the subsequent years. Traditional health risks have been replaced by lifestyle diseases in the last two decades. Various conditions prevailing currently include hypothyroidism, cardiovascular disorders, diabetes, obesity, and hypertension to name a few

Key Segments Covered in the Global Thyroid Function Test Industry

By Test type

  • TSH
  • T3
  • T4
  • FT3
  • FT4
  • Others

By End Use

  • Clinics
  • Research Organizations
  • Diagnostic Laboratories
  • Hospitals

Access Exclusive Market Insights – Purchase Now!
https://www.futuremarketinsights.com/checkout/454

Have a Look at the Latest Report from the Global Thyroid Function Test Industry:

The smart contact lens market is estimated to secure an impressive CAGR of 10.5% during the forecast period. The market is anticipated to reach a valuation of US$ 7.7 Bn in 2022 and is likely to be valued at US$ 20.90 Bn by 2032.

Intraocular Lens industry analysis report by Future Market Insights shows that global sales of the Intraocular Lens market in 2021 were held at US$ 4.3 Billion. With a projected CAGR of 6% from 2022 to 2032

vision care products and services in North America is projected to rise at a CAGR of 5.8% through 2033. This growth trajectory signifies a significant expansion from a valuation of US$ 65,326.3 million in 2023

The vision care market is expected to expand at a decent CAGR of 7.2% during the forecast period. The valuation of the vision care market as of 2023 is US$ 89,596 million, and the market is projected to be valued at US$ 1,78,930.9 million by 2033.

The global computer vision in healthcare market is expected to expand from US$ 2.5 billion in 2024 to US$ 56.1 billion by 2034. By 2034, the market is projected to surge at 36.7% CAGR.

The global healthcare interoperability solutions market is forecasted to expand at 14.5% CAGR to reach a market valuation of US$ 16.2 billion by the end of 2033, up from US$ 3.7 billion that was recorded for 2022.

The global Vision Screeners Market is expected to grow at a CAGR of 5.9% during the forecast period 2022-2029. Increasing prevalence of eye diseases is the major factor accelerating the growth in the market.

global Eye Infections Treatment Market is estimated at US$ 7.3 Billion for 2022, and the market is projected to progress at a CAGR of 3.8% from 2022 to 2030.

global market for eye and face protection is forecast to surge at a CAGR of 10.8% until 2033, reaching a valuation of US$ 1,960 million.

global ophthalmic eye drop market is expected to grow from US$ 17,271.8 million in 2024 to US$ 25,876.4 million by 2034. By 2034, the market is projected to surge at 4.7% CAGR. The ophthalmic eye drop market was valued at US$ 16,390.6 million in 2023

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:      

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedInTwitterBlogs | YouTube

Matched content

Editor’s pick

Express Press Release Distribution