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Global Thyroid Function Test Market Size, Share, Trends, Growth, and Forecast

aanikhil | August 26, 2019 | 0 | Pharmaceutical and Healthcare

Thyroid Function Test Market

Market Overview:

During the forecast period, the thyroid function test market is anticipated to experience a 6 percent CAGR. Some variables driving market growth include increased incidence of thyroid illnesses, increased tobacco and alcohol consumption, and sedentary lifestyle.

Thyroid diseases have become a major problem for public health worldwide. The risk variables include genetic background, exposure to the environment, inadequate intake of iodine, exposure to polychlorinated biphenyls, radiation from nuclear failure and medical radiation, and alcohol and tobacco use, among others. According to the American Thyroid Association, some type of thyroid disease has some 20 million U.S. citizens 2017 . Due to the elevated incidence of thyroid disease, as well as the increasing consumption of alcohol and tobacco, the thyroid function test market is witnessing significant development.

Consumption of alcohol is regarded one of the most important disease and disability risk factors. Globally, advanced region high-income countries have the largest consumption of alcohol, with 50.1 percent of the U.S. population adults over the age of 18 being frequent drinkers. There is a adverse connection between the axis of hypothalamic-pituitary-thyroid HPT and alcoholism according to different research. Regular drinking inhibits peripheral thyroid hormones, releases T3 and T4, and reduces Type II 5 -deiodinase activity, which further impacts metabolic function, resulting in hypothyroidism growth. Tobacco also leads to modifications in thyroid function tests, such as TSH decline and thyroid hormones boost.

Tobacco smoking also plays a vital role in the autoimmunity of the thyroid. A few trials have verified the important impact of smoking on the hyperthyroidism of Graves, especially on the orbitopathy of Graves. The increasing incidence of thyroid illnesses and sedentary lifestyle are other factors contributing to the development of the thyroid function test market.

However, it is anticipated that the lack of endocrinologists will restrict the development of the market for thyroid function tests. Endocrinologists play a key role in the treatment of patients with some of today s most complicated and common circumstances in the United States. There are currently fewer than 6,500 endocrinologists in the nation to care for the millions of people with diabetes, thyroid disease, osteoporosis, and other hormonal diseases. Even endocrinologist compensation is the lowest of any specialty in internal medicine that is expected to damage the development of the market for thyroid function testing. The difficulty associated with interpreting thyroid blood tests is another factor contributing to the slow growth of the market for thyroid function tests.

The Report’s Scope:

Tests for thyroid function are a sequence of blood tests used to determine the thyroid gland s situation, whether it works correctly, and to diagnose hyperthyroidism and hypothyroidism. General studies include tests for hormones T3, T3RU, T4, and TSH secreted by thyroid glands that assess the thyroid gland s activity.

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Thyroid Function Test Market Trends:

TSH Test is Expected to Hold the Largest Market Share in the Test Type:

TSH measurement has lately acquired a dominant position in thyroid function testing, further facilitating cost-effective disease screening, as well as introducing fresh definitions of subclinical hypothyroidism or hyperthyroidism, along with providing biochemical therapy goals. TSH thyroid-stimulating hormone test measures the amount of this hormone in the blood of a patient. The test finds out if it should work the way the thyroid gland works. The risk of taking the blood test is very low to no. The slight pain or bruising at the place where the needle was placed is rapidly disappearing.

A TSH test, however, cannot explain why concentrations of TSH are either too small or too high. In general, if the test findings are abnormal, the health care provider will order extra tests to determine the cause of the thyroid issue. These trials may include testing for T4 thyroid hormone, testing for T3 thyroid hormone, testing to diagnose the disease of Graves an autoimmune disease that causes hyperthyroidism , or testing to diagnose thyroiditis of Hashimoto an autoimmune disease that causes hypothyroidism .

North America Dominates the Market and Expected Keep its Position in the Forecast Period:

Based on the geographical analysis, due to the incidence of thyroid cancer in the United States, North America is expected to lead the market for thyroid function tests. According to the National Cancer Institute, there were approximately 765,547 people living with thyroid cancer in the United States in 2015, and the number of new thyroid cancer cases was 14.5 per 100,000 men and women per year.

The North American region is also likely to see significant growth due to several initiatives such as compulsory screening of newborns for congenital hypothyroidism, revolutionary research on thyroid hormone function, cost-effective methods for detecting thyroid cancer, promising research on the disease of Graves, etc., which can lead to improved prognosis and new preventive treatments.

Competitive Landscape:

The extremely competitive market for thyroid function testing is made up of a number of significant players. Companies such as Abbott, Autobio Diagnostics, BioMérieux SA, Danaher Corporation, DiaSorin SpA, F. Hoffmann-La Roche Ltd, Qualigen Inc., Siemens Healthineers, and Thermo Fisher Scientific Inc. have a significant market share in the market for thyroid function testing.

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There have been numerous developments in the market recently. For example, in May 2018, the Interpace Diagnostics Group revealed that the firm had signed an agreement with the Vanderbilt University Medical Center VUMC that would allow all physicians across the Vanderbilt scheme to access both ThyGenX R now ThyGeNEXT R and ThyraMIR R for patients with indeterminate thyroid nodules.

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