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Thyroid Function Test Market

Market Insights on Thyroid Function Test covering sales outlook, demand forecast & up-to-date key trends

Thyroid Function Test Market By Test Type (TSH, T3, T4, FT3, FT4), End Use (Clinics, Research Organizations, Diagnostic Laboratories, Hospitals) & Region - Forecast to 2015-2025

Introduction

Thyroid function test is a sensitive and specific diagnostic test segment driven by healthcare facilities and the medical diagnostics sector.

Thyroid Function Test (TFT) is found to be very effective in diagnosing thyroid conditions in patients, but merely 34% of the total rural population in India have access to diagnostic centres. Among the population of around 1.25 billion, approximately 42 million people are suffering from thyroid disorders.

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Drivers and Trends

The cardinal factor fuelling growth of the India thyroid function test market is high prevalence of thyroid disorders in the country. During an epidemiology study across major cities in India, Kolkata was reported to have 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 for thyroid disorders.

The Indian healthcare industry has witnessed significant advancements with regard to 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 high level of progress in medical technology.

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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 Traditional health risks have been replaced by lifestyle diseases in the last two decades.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

Analysis by Test type

The India thyroid function test market by test type is segmented into TSH (Thyroid stimulating hormone), T3 (triiodothyronine), T4 (thyroxine), FT3 (Free triiodothyronine), FT4 (Free thyroxine) and others (TBG, T3RU, LATS, TSI).

The others test segment is expected to lose some market share over the forecast period. Currently, the TSH test segment accounts for major revenue share in the India thyroid function test market. However, the T3 and T4 segments are expected to witness impressive growth during the forecast period.   

In the India thyroid function test market, the FT3 and FT4 test type segments are expected to witness significant growth in urban cities. FT4 test type segment has been estimated to register a moderate CAGR 2.4%, but the TSH test type segment is projected to continue to dominate the thyroid function test market in India over the forecast period.

Sabyasachi Ghosh
Principal Consultant
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Analysis by End use

The thyroid function test market is segmented into Clinics, Research Organization, Diagnostic laboratories and Hospitals in terms of end use. Revenue from the research organization segment is expected to increase at second highest CAGR over the forecast period. However, the revenue generated from hospitals segment is higher as compared to the rest of the end use segment in the India thyroid function test market.

Competitive Landscape

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

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Key Segments Covered

By Test type

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

By End Use

  • Clinics
  • Research Organizations
  • Diagnostic Laboratories
  • Hospitals

Frequently Asked Questions

The India thyroid function testing market is likely to secure a CAGR of 3.5% through 2032.

The India thyroid function testing market size is estimated to cross US$ 38.85 Mn by 2032.

The India thyroid function testing market is likely to record a value of US$ 27.54 Mn in 2022.

India is likely to lead the thyroid function testing market.

Table of Content

1. Assumptions and Acronyms Used

2. Research Methodology

3. Executive Summary

4. India Thyroid Function Test Market Overview

4.1. Introduction

4.1.1. India Thyroid Function Test Market Definition

4.1.2. India Thyroid Function Test Market Taxonomy

4.2. India Thyroid Function Test Market Test Type Overview

4.3. Parent Market Overview

4.4. India Thyroid Function Test Market Dynamics

4.4.1. Drivers

4.4.2. Restraints

4.4.3. Opportunity

4.4.4. Value Chain

4.5. India Thyroid Function Test Market Forecast, 2016-2026

4.5.1. Market Value Forecast

4.5.2. Y-o-Y Growth Projections

4.5.3. Absolute $ Opportunity

4.6. India Thyroid Function Test Market Trends

4.7. Regional Average Pricing Analysis (2015)

4.8. India Thyroid Function Test Market Snapshot (2015)

4.8.1. Market Share, By Test Type 

4.8.2. Market Share, By End User  

4.8.3. Market Share, By Region

5. India Thyroid Function Test Market Analysis, By Test Type 

5.1. Introduction

5.1.1. Y-o-Y Growth Comparison, By Test Type 

5.1.2. Market Share & Basis Point (BPS) Analysis, By Test Type 

5.2. Market Forecast, By Test Type 

5.2.1. TSH

5.2.1.1. Absolute $ Opportunity

5.2.1.2. Market Value Forecast

5.2.2. T3

5.2.2.1. Absolute $ Opportunity

5.2.2.2. Market Value Forecast

5.2.3. T4

5.2.3.1. Absolute $ Opportunity

5.2.3.2. Market Value Forecast

5.2.4. Free T3

5.2.4.1. Absolute $ Opportunity

5.2.4.2. Market Value Forecast

5.2.5. Free T4

5.2.5.1. Absolute $ Opportunity

5.2.5.2. Market Value Forecast

5.2.6. Others

5.2.6.1. Absolute $ Opportunity

5.2.6.2. Market Value Forecast

5.2.6.3. Thyroxine-binding globulin test (TBG)

5.2.6.3.1. Absolute $ Opportunity

5.2.6.3.2. Market Value Forecast

5.2.6.4. Triiodothyronine resin uptake test  (T3RU) 

5.2.6.4.1. Absolute $ Opportunity

5.2.6.4.2. Market Value Forecast

5.2.6.5. Long-acting thyroid stimulator test (LATS)

5.2.6.5.1. Absolute $ Opportunity

5.2.6.5.2. Market Value Forecast

5.2.6.6. Thyroid-stimulating immunoglobulin (TSI)

5.2.6.6.1. Absolute $ Opportunity

5.2.6.6.2. Market Value Forecast

5.3. Market Attractiveness Analysis, By Test Type 

5.4. India Thyroid Function Test Market Prominent Trends, By Test Type 

6. India Thyroid Function Test Market Analysis, By End User  

6.1. Introduction

6.1.1. Y-o-Y Growth Comparison, By End User  

6.1.2. Market Share & Basis Point (BPS) Analysis, By End User  

6.2. Market Forecast, By End User  

6.2.1. Clinics

6.2.1.1. Absolute $ Opportunity

6.2.1.2. Market Value Forecast

6.2.2. Research Organizations

6.2.2.1. Absolute $ Opportunity

6.2.2.2. Market Value Forecast

6.2.3. Diagnostic Laboratories

6.2.3.1. Absolute $ Opportunity

6.2.3.2. Market Value Forecast

6.2.4. Hospitals

6.2.4.1. Absolute $ Opportunity

6.2.4.2. Market Value Forecast

6.3. Market Attractiveness Analysis, By End User  

6.4. India Thyroid Function Test Market Prominent Trends, By End User  

7. Competition Landscape

7.1. Competition Dashboard

7.2. Company Profiles

7.2.1. Revenue

7.2.2. Test Types/Brand Offerings

7.2.3. Key developments

7.2.4. SWOT Analysis

7.2.5. Company Highlights

7.2.5.1. Sigma-Aldrich Co. LLC. 

7.2.5.2. Abbott

7.2.5.3. Beckman Coulter, Inc 

7.2.5.4. Siemens Healthcare

7.2.5.5. bioMérieux

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List of Tables

Table 1: India Thyroid Function Test Market Value Forecast By Test Type, 2014–2025 (US$ Mn)

Table 2: India Thyroid Function Test Market Value Forecast By End Use , 2014–2025 (US$ Mn)

Sabyasachi Ghosh
Principal Consultant
LinkedIn
Talk to Analyst

Find your sweet spots for generating winning opportunities in this market.

Talk to Analyst

List of Charts

Figure 1 :India Thyroid Function Test Market, By Test Type (US$ Mn), 2015

Figure 2 :India Thyroid Function Test Market , By End Use (US$ Mn), 2015

Figure 3 :India’s IVD market  Value Forecast, 2014–2025 (US$ Mn)

Figure 4 :India Thyroid Function Test Market  Value (US$ Mn) & Y-o-Y Growth Forecast, 2015–2025

Figure 5 : India Thyroid Function Test Market Absolute $ Opportunity (US$ Mn), 2014–2025

Figure 6: India Thyroid Function Test Market Value Share By Test Type, 2015–2025 

Figure 7:India Thyroid Function Test Market    Y-o-Y Growth Rate By Test Type, 2015–2025

Figure 8 India Thyroid Function Test Market Value and Forecast By Test Type, 2015 & 2025 (US$ Mn)

Figure 9: India Thyroid Function Test Market Value Share By Test Type Forms, 2015–2025 

Figure 10:  India Thyroid Function Test Market Attractiveness Analysis By Test Type Form, 2015–2025

Figure 11: India Thyroid Function Test Market Value (US$ Mn) &  Y-o-Y  Growth By TSH Test Type Segment, 2014–2025

Figure 12: India Thyroid Function Test Market Absolute $ Opportunity (US$ Mn) By TSH  Test Type Segment, 2014–2025

Figure 13: India Thyroid Function Test Market Value (US$ Mn) & Y-o-Y  Growth By T3 Test Type Segment, 2014–2025

Figure 14: India Thyroid Function Test Market Absolute $ Opportunity (US$ Mn) By T3 Test Type Segment, 2014–2025

Figure 15 : India Thyroid Function Test Market Value (US$ Mn) & Y-o-Y  Growth By T4 Test Type Segment, 2014–2025

Figure 16 : India Thyroid Function Test Market Absolute $ Opportunity (US$ Mn) By T4 Test Type Segment, 2014–2025

Figure 17 : India Thyroid Function Test Market Value (US$ Mn) & Y-o-Y  Growth By FT3 Test Type Segment, 2014–2025

Figure 18 : India Thyroid Function Test Market Absolute $ Opportunity (US$ Mn) By FT3 Test Type Segment, 2014–2025

Figure 19 : India Thyroid Function Test Market Value (US$ Mn) & Y-o-Y  Growth By  FT4 Test Type Segment, 2014–2025

Figure 20 : India Thyroid Function Test Market Absolute $ Opportunity (US$ Mn) By FT4 Test Type Segment, 2014–2025

Figure 21 : India Thyroid Function Test Market Value (US$ Mn) & Y-o-Y  Growth By  Others Test Type Segment, 2014–2025

Figure 22 : India Thyroid Function Test Market Absolute $ Opportunity (US$ Mn) By Others Test Type Segment, 2014–2025

Figure 23 : India Thyroid Function Test Market Value Share By End Use, 2015 & 2025 (US$ Mn)

Figure 24 : India Thyroid Function Test Market  Y-o-Y Growth By End Use, 2015–2025 

Figure 25: : India Thyroid Function Test Market Attractiveness Analysis By End Use Form, 2015–2025

Figure 26: India Thyroid Function Test Market Value (US$ Mn) &  Y-o-Y  Growth By Clinics End Use Segment, 2014–2025

Figure 27 : India Thyroid Function Test Market Absolute $ Opportunity (US$ Mn) By Clinics End Use Segment, 2014–2025

Figure 28: India Thyroid Function Test Market Value (US$ Mn) &  Y-o-Y  Growth By Research Organization End Use Segment, 2014–2025

Figure 29 : India Thyroid Function Test Market Absolute $ Opportunity (US$ Mn) By Research Organization  End Use Segment, 2014–2025

Figure 30 : India Thyroid Function Test Market Value (US$ Mn) &  Y-o-Y  Growth By Diagnostic Laboratories End Use Segment, 2014–2025

Figure 31: India Thyroid Function Test Market Absolute $ Opportunity (US$ Mn) By Diagnostic Laboratories  End Use Segment, 2014–2025

Figure 32: India Thyroid Function Test Market Value (US$ Mn) &  Y-o-Y  Growth By Hospitals End Use Segment, 2014–2025

Figure 33 : India Thyroid Function Test Market Absolute $ Opportunity (US$ Mn) By Hospitals End Use Segment, 2014–2025

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