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Thyroid Function Test Market Size will Observe Lucrative Surge by the End 2031

08-17-2022 08:06 AM CET | Health & Medicine

Press release from: Transparency Market Research

Overview of Global Thyroid Function Test Market

Thyroid function test, or thyroid test, checks the levels of hormones that are produced by the thyroid gland as well as the pituitary gland situated in the brain. The accuracy of thyroid test results could be affected by medication including vitamin supplements or herbal remedies. Therefore, these tests must be performed under the recommendation and guidance of a doctor.

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Excessive Alcohol Consumption Affects Thyroid Function

Alcohol consumption is considered one of the high-risk factors for disease and disability. Globally, high-income countries in developed regions account for the highest alcohol consumption, with around 50.1% of the U.S. population (adults over 18 years of age) being regular drinkers. As per various studies, there exists a negative relationship between the hypothalamic-pituitary-thyroid (HPT) axis and alcoholism. Regular drinking inhibits peripheral thyroid hormones, frees T3 and T4, and minimizes the activity of type II 5'-deiodinase, which further affects metabolic function. This leads to the development of hypothyroidism. Tobacco also induces changes in thyroid function tests such as a decrease in TSH levels and increase in thyroid hormones.

A shortage of endocrinologists is expected to restrain the thyroid function testing market. Currently, fewer than 6,500 endocrinologists are available in the U.S. to offer care for millions of patients suffering from thyroid disease, diabetes, osteoporosis, and other hormonal conditions. Difficulty associated with the interpretation of thyroid blood tests is another factor contributing to the sluggish growth of the thyroid function test market. Treatment of thyroid gland disorders includes surgery, anti-thyroid drugs (methimazole and propylthiouracil), and radioactive iodine. Thyroid cancer diagnostics involve blood tests, physical exams, and ultrasound imaging. Hypothyroidism disorder treatment entails daily usage of the synthetic thyroid hormone levothyroxine (Levo-T, Synthroid, and others).

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High Prevalence of Thyroid Gland Disorders to Propel Global Thyroid Function Test Market

The global thyroid function test market is primarily driven by the increase in incidence of thyroid disorders such as hypothyroidism and hyperthyroidism. According to the Endocrine Society, around 140 hypothyroidism and 10 hyperthyroidism cases are reported among every 1,000 individuals in the U.S. each year. The number of patients affected by autoimmune diseases such as Grave's disease is increasing across the globe.

The World Health Organization (WHO) and the American Association of Clinical Endocrinologists (AACE) have stated that thyroid disorders are rapidly increasing, and they demand novel and effective thyroid therapeutics for treatment. According to the WHO, thyroid disorders such as hypothyroidism, hyperthyroidism, and goiter are common conditions affecting millions of people globally. As per the Journal of Clinical Endocrinology and Metabolism, thyroid dysfunction (i.e. hypothyroidism) is the leading endocrine disorder, and accounts for around 30% to 40% of the total endocrine patients. Thus, demand for thyroid function tests such as TSH, T3, and T4 has been rising across the globe.

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Significant Demand for TSH Tests for Preliminary Screening of Thyroid Disorders

In terms of revenue, the TSH test segment held major share of the global market in 2021. The segment is anticipated to account for around 53% share of the global market by 2031. TSH test facilitates cost-effective disease screening and introduces novel definitions of subclinical hypothyroidism or hyperthyroidism, along with delivering biochemical treatment targets. TSH test measures the level of thyroid-stimulating hormone in the patient's blood.

The TSH test does not explain why TSH levels are too low or too high. If the test results are abnormal, the health care provider generally orders additional tests to gauge the cause of the thyroid problem. These tests include T3 thyroid hormone tests, T4 thyroid hormone tests, tests for diagnosing Graves' disease (an autoimmune disease that causes hyperthyroidism), or tests to diagnose Hashimoto's thyroiditis (an autoimmune disease that causes hypothyroidism). TSH remains the most sensitive parameter for primary dysthyroid conditions, while free thyroid hormone levels (FT4, FT3) are useful adjuncts for the refinement of diagnosis (pituitary dysthyroid conditions) and monitoring of therapy.

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Hospital-based Laboratories Emerge as Key End-users of Thyroid Function Test Market

The hospital-based laboratories segment led the global thyroid function test market in 2021. The segment is anticipated to account for around 50% share of the global market by 2031. The hospital-based laboratories segment is expected to grow at a CAGR of 5.5% from 2022 to 2031. Patients prefer hospital-based laboratories, as they offer benefits such as free online counseling and guidance for thyroid function tests. These factors are likely to drive the hospital-based laboratories segment.
The diagnostic laboratories segment is projected to account for large share of the market during the forecast period due to the increase in adoption of advanced technologies across these establishments. According to a recent study, TFT algorithms could be deployed in diagnostic laboratories without compromising therapeutic accuracy. This would help in the reduction of direct costs and also protect patients from the consequences of low-value care practices.

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About Us

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

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