Press release
Thyroid Function Test Market Report 2024 - Thyroid Function Test Market Growth And Share
Thyroid Function Test Market
Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=16553&type=smp
According to The Business Research Company's, The thyroid function test market size has grown strongly in recent years. It will grow from $1.60 billion in 2023 to $1.70 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to increased prevalence of thyroid cancers, rise in middle-class disposable income, increased patient population, proactive government initiatives, and increased adoption of sedentary lifestyle.
The thyroid function test market size is expected to see strong growth in the next few years. It will grow to $2.19 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to increasing incidence of thyroid disorders, increasing awareness about thyroid disorders, increasing prevalence of lifestyle diseases, rising geriatric population, and increasing consumption of alcohol and tobacco. Major trends in the forecast period include need for cost-effective tests, improved healthcare infrastructure, demand for early detection, demand for thyroid function tests in hospitals, and technological advancements.
Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/thyroid-function-test-global-market-report
Market Drivers and Trends:
The prevalence of thyroid disorder incidences is expected to propel the growth of the thyroid function test market going forward. Thyroid disorders are medical conditions that affect the function of the thyroid gland, a butterfly-shaped gland located in the front of the neck. Thyroid disorders are growing due to dietary changes, radiation exposure, hormonal changes, environmental factors, and autoimmune diseases. Thyroid function tests are vital for diagnosing and managing thyroid disorders by providing crucial information about thyroid hormone levels and antibody presence, guiding treatment decisions, monitoring therapy effectiveness, and preventing complications. For instance, in January 2024, according to the American Cancer Society, a US-based health organization, there are approximately 44,020 new cases of thyroid cancer (12,500 in men and 31,520 in women) and about 2,170 deaths from thyroid cancer (990 in men and 1,180 in women). Therefore, the prevalence of thyroid disorder incidences drives the growth of the thyroid function test market.
Major companies operating in the thyroid function test market are developing innovative products such as home-use thyroid tests to provide patients with convenient, accurate, and timely monitoring of their thyroid hormone levels. Home-use thyroid tests are diagnostic kits designed for individuals to measure their thyroid hormone levels at home conveniently. These tests typically involve collecting a small blood sample via a finger prick, which is then analyzed through a mail-in service or with an at-home testing device. For instance, in November 2021, Bloom Diagnostics, an India-based healthcare company, launched Bloom Thyroid Test, a home-use thyroid test that allows individuals to monitor their thyroid status from the comfort of their own homes. The test is designed to detect primary hypothyroidism, a condition characterized by an underactive thyroid gland. The test kit includes a disposable self-test strip that measures thyroid-stimulating hormone (TSH) levels in the blood. The bloom thyroid test prompts users to provide details on whether they are taking medications such as Lithium or Amiodarone, which are known to affect thyroid function. Additionally, the test accounts for pregnant women who have given birth in the past 12 months or plan to conceive soon. This consideration is important because thyroid hormone production increases during pregnancy, rendering TSH tests often unreliable during this period.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
F. Hoffmann-La Roche Ltd., Abbott Laboratories Inc., Thermo Fisher Scientific Inc., Danaher Corporation, Siemens Healthineers AG, Merck KGaA, BioMérieux Inc., WerfenLife SA, DiaSorin SpA, Beckman Coulter Life Sciences, Autobio Diagnostics Co. Ltd., Neogenomics Laboratories Inc., Dr. Lal Pathlabs, Metropolis Healthcare Ltd., Thyrocare Technologies, Healthians, Mayo Clinic Laboratories, Kronos Inc., Pathkind Labs, Quidel Corporation, Alpha Laboratories Ltd., Qualigen Inc., Boditech Med Inc., Cortez Diagnostics, SRL Diagnostics
Thyroid Function Test Market 2024 Key Insights:
• The thyroid function test market size is expected to see strong growth in the next few years. It will grow to $2.19 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%.
• Rising Incidences of Thyroid Disorders Fuel Growth In The Thyroid Function Test Market
• Transformative Home Thyroid Testing Kit Revolutionizes Healthcare
• North America was the largest region in the thyroid function test market in 2023
We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=16553&type=smp
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ"
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Thyroid Function Test Market Report 2024 - Thyroid Function Test Market Growth And Share here
News-ID: 3716588 • Views: …
More Releases from The Business research company
Animal Growth Promoters And Performance Enhancers Market Expansion Continues, wi …
Animal Growth Promoters And Performance Enhancers Market Expansion Continues, with Forecast Valuation of $20.85 Billion by 2029Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Animal Growth Promoters And Performance Enhancers Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market for animal growth promoters and performance enhancers has seen significant expansion recently. There…
Top Market Shifts Transforming the Amplifiers Market Landscape: Key Insights
Top Market Shifts Transforming the Amplifiers Market Landscape: Key InsightsUse code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Amplifiers Market Through 2025?
The market size for amplifiers has experienced a slight dip in recent years. The market value will decrease from "$1.04 billion in 2024 to $1.04 billion in 2025, demonstrating…
Innovations In Air-Based Defense Market Driven By Wireless Technology, Miniaturi …
Innovations In Air-Based Defense Market Driven By Wireless Technology, Miniaturization, And Advanced Manufacturing Techniques: Transformative Forces Shaping the Air Based Defense Equipment Market Landscape in 2025Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Will the Air Based Defense Equipment Industry Market Size Be by 2025?
The market size for air-based defense equipment has seen robust growth…
3D Printing Services Market Expected to Achieve 16.9% CAGR by 2029: Growth Forec …
3D Printing Services Market Expected to Achieve 16.9% CAGR by 2029: Growth Forecast InsightsUse code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
How Large Will the 3D Printing Services Market Size By 2025?
The market size for 3D printing services has experienced incredible growth recently. Its exponential growth will see it rise from $7.41 billion in 2024 to…
More Releases for Thyroid
Rising Incidences of Thyroid Disorders Fuel Growth In The Thyroid Function Test …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Thyroid Function Test Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size for thyroid function tests has witnessed substantial growth in the past few years. The market is projected to expand from $1.7 billion in 2024 to $1.81 billion in 2025, with an…
Rising Incidences of Thyroid Disorders Fuel Growth In The Thyroid Function Test …
The Thyroid Function Test Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Expected Thyroid Function Test Market Size During the Forecast Period?
The thyroid function test market has grown significantly in recent years. It is expected to grow from $1.7 billion in 2024…
Thyroid Ablation Devices Market
Alarming rise in prevalence of thyroid cancer, advancements in thyroid ablation system, rise in government & private funds for development of healthcare sectors, and increase in number of thyroid nodule cases are expected to notably contribute toward the growth of the global thyroid ablation devices market during the forecast period.
Rise in prevalence of thyroid cancer and thyroid nodules, demand for minimally invasive procedures, and technological advancements in ablation devices drive…
Thyroid Gland Disorders Treatment Market Increasing incidence of Autoimmune Dise …
The global market for thyroid gland disorders features a consolidated vendor landscape with a handful of companies accounting for a major chunk of the global market, observes Transparency Market Research in a recent report. In 2016, the thyroid gland disorders treatment market was dominated by Merck KGaA and AbbVie, Inc., which collectively accounted for more than half of the market. It has been observed that despite the large pool of…
Increasing Incidence of Thyroid Gland Disorders Expected to Propel the Thyroid G …
Thyroid gland is made of thyroid cells that absorb iodine from food and convert it into triiodothyronine (T3) and thyroxine (T4). These hormones are released into the blood stream and play an important role in the regulation of metabolism. Thyroid gland disorders are defined as an abnormal release of thyroid hormones which may demand proper therapeutic agents to correct the disorder condition. This report studies the market in a view…
Increasing Incidence of Thyroid Gland Disorders Expected to Propel the Thyroid G …
The number of patients suffering from thyroid gland disorders across the globe is increasing at a rapid rate. This direct increase in demand is expected to be a primary driver for the development of thyroid gland disorder treatments. The number of patients with thyroid gland disorder is increasing due to a growing population of the elderly, who are prone to thyroid disorders and similar illnesses.
Additionally, a person suffering from…
