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The cardinal factor fuelling growth of the India thyroid function test market

10-17-2018 04:04 PM CET | Health & Medicine

Press release from: Future Market Insights

The cardinal factor fuelling growth of the India thyroid

Awareness on hyperthyroidism and hypothyroidism continues to remain low in India, resulting into fewer people undergoing thyroid function tests. The India thyroid function test market will witness moderate growth in 2016, raking in 41.6 Mn in revenues, up from US$ 40.1 Mn in 2015. While high prevalence of thyroid dysfunction and government initiatives to raise awareness will continue to support growth in 2016, stagnant R&D investment in immunochemistry will impede overall momentum.

Get access to full summary @: https://www.futuremarketinsights.com/reports/india-thyroid-function-testing-market

TSH will continue to be the leading test type segment in 2016, raking in US$ 25.1 Mn in revenues, an increase of US$ 1 Mn from 2015. TSH is widely recommended as a primary test for diagnosing hypothyroidism by medical experts, contributing to higher revenues vis-à-vis T3, T4, FT3, and FT4 tests.

T4 will extend its lead over T3 test type segment, witnessing a higher y-o-y revenue growth in 2016 over 2015. T4 revenues totalled US$ 4.5 Mn in 2015, and this segment is expected to add US$ 1.7 Mn in revenues in 2016.

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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 organisations and diagnostic laboratories. Clinics will remain the smallest end-use segment in 2016, witnessing lowest growth rate vis-à-vis other segments.

Ask questions to Expert @: https://www.futuremarketinsights.com/ask-the-analyst/rep-in-1531

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.

About Us
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.

FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.

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