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India Thyroid Function Test market Analysis| Coherent Market Insights

Hospitals segment in India thyroid function test market lead during forecast period at a CAGR of 3.7%.

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India Thyroid Function Test market Analysis| Coherent Market Insights

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. INDIA THYROID FUNCTION TEST MARKET ANALYSIS India Thyroid Function Test Market,ByTest Type (TSH, T3, T4, FT3, FT4, Others), By End User (Clinics, Research Organizations, Diagnostic Laboratories, Hospitals) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

  3. India thyroid function test market is estimated to account for US$ 44.5 Mn in terms of value in 2018 and is expected to reach US$ 58.9 Mn by the end of 2027. Drivers • Increasing prevalence of thyroid disorders is expected to propel growth of India thyroid function test market over the forecast period. For instance, according to the study, ‘Trends in thyroid cancer incidence in India’, published in May 2018 in the Journal of Clinical Oncology, the incidence rate of thyroid cancer in India in women increased from 2.4 to 3.9 and in men from 0.9 to 1.3, a relative increase of 62% and 48% respectively during  2004/05 to 2013/14.

  4. Moreover, low cost of thyroid function test is also expected to aid in growth of the market. For instance, the average price of thyroid test in any NABL approved lab is around US$ 3.51 to US$ 7. • TSH held dominant position in India thyroid function test market in 2018, accounting for 61.1% share in terms of value, followed by T4.

  5. Market Restraints • Low awareness about thyroid conditions and symptoms is leading to minimal diagnosis, which is expected to hamper growth of India thyroid function test market. • Moreover, use of fraudulent or bogus reagents in tests is also expected to lower the quality of the test, thereby hindering growth of the market.

  6. Market Opportunities • Investment in R&D is expected to offer lucrative growth opportunities for players in India thyroid function test market. Research in the field of the immunohistochemistry techniques and especially those, which are computer-assisted increase the accuracy in the detection of markers and the reliability of their results.  • In people aged 60 years or above, the thyroid gland can develop nodules or can lead to decrease in the secretion of thyroid hormones in turn leading to hypothyroidism. Therefore, increasing geriatric population is also expected to aid in growth of the market. For instance, according to the United Nations April 2019 data, the share of geriatric population in India is expected to increase to nearly 20% in 2050.

  7. Hospitals segment in India thyroid function test market was valued at US$ 24.0 in 2018 and is expected to reach US$ 33.2 Mn by 2027 at a CAGR of 3.7% during the forecast period.

  8. Market Trends • India is witnessing increasing footfall of tourists seeking medical treatment for various diseases. For instance, according to India Brand Equity Foundation’s January 2019 release, the estimated Foreign Tourist Arrivals (FTAs) in India on medical purpose during the years 2015, 2016, and 2017 were 2,33,918, 4,27,014, and 4,95,056 respectively. • The risk of subclinical thyroid dysfunction increases with shorter and longer sleep durations compared to the optimal sleep duration. Therefore, sleep-related disorders can lead to thyroid diseases, thereby offering conducive environment for growth of the market. For instance, in November 2019, researchers from The Catholic University of Korea reported that shorter and longer sleep durations were associated with an increase in the risk of subclinical thyroid dysfunction compared to the optimal sleep duration.

  9. Competitive Section Major players operating in India thyroid function test market include, Merck (Sigma-Aldrich Co. LLC.), Abbott Laboratories, Beckman Coulter Diagnostics, Siemens Healthcare, and bioMérieux.

  10. Request Sample Report • Request Customization • Download PDF Brochure • Talk to Analyst Reference: https://www.coherentmarketinsights.com/market-insight/india-thyroid-function-test-market-3521

  11. About Us Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

  12. Contact Us Mr. Shah Coherent Market Insights Pvt.Ltd. Address: 1001 4th Ave, #3200 Seattle, WA 98154, U.S. Phone: +1-206-701-6702 Email: sales@coherentmarketinsights.com

  13. Thank You! Kindly follow CMI Social Media Profiles for the latest company updates Facebook Linkedin Twitter https://www.coherentmarketinsights.com/

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