India 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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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.
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 Traditional health risks have been replaced by lifestyle diseases in the last two decades.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
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.
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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.
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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By Test type
By End Use
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.
1. Assumptions and Acronyms Used 2. Research Methodology 3. Executive Summary 4. India Market Overview 4.1. Introduction 4.1.1. India Market Definition 4.1.2. India Market Taxonomy 4.2. India Market Test Type Overview 4.3. Parent Market Overview 4.4. India Market Dynamics 4.4.1. Drivers 4.4.2. Restraints 4.4.3. Opportunity 4.4.4. Value Chain 4.5. India 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 Market Trends 4.7. Regional Average Pricing Analysis (2015) 4.8. India 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 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 Market Prominent Trends, By Test Type 6. India 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 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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India Thyroid Function Test Market
