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Thyroid Function Test Market revenues expected to surpass US$ 55.3 Mn by 2025

09-28-2017 11:19 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Future Market Insights

Thyroid Function Test Market revenues expected to surpass US$

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.

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.

View and Download TOC of Thyroid Function Test Market Research Report@ https://www.futuremarketinsights.com/reports/india-thyroid-function-testing-market/toc

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.

Parameter
2015
2016

India Market
40.1
41.6

TSH Test type Segment
24.1
25.1

T3 Test type Segment
4.5
4.6

Hospitals End-use Segment
1.3
22.2

(All values are in US$ Mn)

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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.

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.

Buy Full Thyroid Function Test Market Report@ https://www.futuremarketinsights.com/checkout/1531

Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.

Future Market Insights
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Email: sales@futuremarketinsights.com
Website: www.futuremarketinsights.com

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