The Thyroid Function Test market is set to witness substantial growth, with a current valuation of US$ 1.75 billion in 2023. Projections indicate a significant surge, with expectations to reach US$ 2.64 billion by 2033. This robust expansion reflects a steady Compound Annual Growth Rate (CAGR) of 4.2%.
The thyroid function test market has demonstrated resilience and adaptability in the face of evolving healthcare landscapes. As thyroid disorders become increasingly prevalent globally, diagnostic technologies play a pivotal role in early detection and effective management.Request a Sample of this Report Now!https://www.futuremarketinsights.com/reports/sample/rep-gb-454Hospitals 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.Competitive LandscapeSome of the key players covered in the India thyroid function test market report include
The report offers insights on the various strategies related to software development, market consolidation initiatives and analyses the various market players’ specific strengths, weaknesses, opportunities and threats.Click for Methodology Details!https://www.futuremarketinsights.com/request-report-methodology/rep-gb-454Drivers and TrendsThe cardinal factor fuelling growth of the India thyroid function test market is high prevalence of thyroid disorders in the country. During an epidemiology study across major cities in India, Kolkata was reported to have highest prevalence of hypothyroidism (21.67%) compared to other cities. Over the past few years there have been significant advancements in the specificity and sensitivity of thyroid testing, which has impacted the treatment for thyroid disorders.The Indian healthcare industry has witnessed significant advancements with regard to medical devices and pathological laboratory business segments. Domestic and international companies are entering into joint ventures and strategic agreements owing to increasing standardization, availability of human resources and high level of progress in medical technology.India is witnessing various trends that are expected to bring substantial changes in the landscape of the healthcare industry in the subsequent years. Traditional health risks have been replaced by lifestyle diseases in the last two decades. Various conditions prevailing currently include hypothyroidism, cardiovascular disorders, diabetes, obesity and hypertension to name a fewKey Segments CoveredBy Test type
