Thyroid Function Test Market US$ 2.2 Billion by 2028 With 5.96% CAGR | IMARC Group

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By Jenny

According to the latest report by IMARC Group, titled, “Thyroid Function Test Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028“.The global thyroid function test market size reached US$ 1.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.2 Billion by 2028, exhibiting a growth rate (CAGR) of 5.96% during 2023-2028.

Thyroid function tests are used for measuring hormone levels in the blood. They aid healthcare professionals in diagnosing numerous diseases, such as thyroiditis, cancer, nodules, goiter, tumors, Hashimoto’s, Graves’, hyperthyroidism, hypothyroidism, etc. Some standard tests advised by doctors to evaluate thyroid function include thyroxine (T4), thyroglobulin, thyroid-stimulating hormone (TSH), triiodothyronine (T3), calcitonin, thyroid antibody, etc. Owing to the rising number of infants with medical conditions, such as thyrotropin receptor autoantibodies (TRAb), craniosynostosis, advanced bone age, etc., there is an increase in the demand for thyroid function tests.

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Thyroid Function Test Market

Thyroid Function Test Market Trends:

Substantial growth in the automotive industry across the globe is driving the polybutadiene rubber market. This rubber is extensively utilized in the production of high-quality components in semi utility vehicles (SUVs) and luxury vehicles to provide enhanced comfort to the user. Furthermore, the rising demand for advanced rubbers and chemical-resistant materials is bolstering the growth of the market. Liquid polybutadiene rubber is used in the manufacturing of elastomers, belts, shoes, hoses, rubber bands, coatings, adhesives, etc. Aside from that, several product advancements, such as the use of bio feedstock in the manufacture of synthetic rubber, are boosting product demand. Other variables, such as rising expenditure capacities and rising levels of industrialization, are expected to boost market expansion in the approaching years.

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Global Thyroid Function Test Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Abbott Laboratories, Autobio Diagnostics Co. Ltd, bioMérieux SA, Diagnostic Automation/Cortez Diagnostics Inc., DiaSorin S.p.A., F. Hoffmann-La Roche AG, Merck KGaA, Qualigen Inc., Quidel Corporation, Siemens AG, and Thermo Fisher Scientific Inc.

The report has segmented the market on the basis on region, test type, indication and end user.

Breakup by Test Type:

  • TSH Tests
  • T3 Tests
  • T4 Tests
  • Others

Breakup by Indication:

  • Hypothyroidism
  • Hyperthyroidism
  • Thyroid Cancer
  • Others

Breakup by End User:

  • Hospitals
  • Diagnostic Laboratories
  • Others

Breakup by Region:

  • North America: (United States, Canada)
  • Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

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Key highlights of the report:

Market Performance (2017-2022)
Market Outlook (2023- 2028)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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