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Thyroid Function Testing Market Size, Share & Trends Analysis Report By End-use, By Test Type (TSH Test, Free T4 Test, T4 Test, T3 Test, Free T3 Test, and Others) By Regional Outlook and Forecast, 2024 - 2031

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    Report

  • 208 Pages
  • April 2024
  • Region: Global
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 5953601
Description Jump to:
The Global Thyroid Function Testing Market size is expected to reach $7.5 billion by 2031, rising at a market growth of 6.4% CAGR during the forecast period.

TSH is considered the primary screening test for thyroid disorders, including hypothyroidism and hyperthyroidism. Therefore, the TSH segment captured $1,945.2 million revenue in the market in 2022. Abnormal levels of TSH can indicate potential thyroid dysfunction, prompting further diagnostic evaluation. It is routinely included in comprehensive metabolic panels and thyroid panels, making it accessible to a broad range of healthcare providers and patients.



Point-of-care testing (POCT) methods enable thyroid function testing outside traditional laboratory settings, such as physician offices, clinics, community health centers, and even remote or resource-limited settings. This increased accessibility ensures that individuals receive timely testing and diagnosis, particularly in areas with limited access to centralized laboratory facilities. Therefore, the growing point-of-care testing method is driving the market’s growth.

Additionally, advancements in testing technologies have led to the development of more accurate and sensitive assays for measuring thyroid function parameters such as thyroid-stimulating hormone (TSH), thyroxine (T4), triiodothyronine (T3), and thyroid autoantibodies. Enhanced accuracy and sensitivity ensure more reliable detection of thyroid disorders, leading to better clinical decision-making and patient management. Thus, ongoing advancements in testing technologies are driving the market’s growth.

However, endocrinologists are specialists trained to accurately interpret thyroid function test results and understand abnormal findings’ clinical implications. Their expertise is crucial for proper diagnosis, treatment planning, and management of thyroid disorders. Without adequate skilled endocrinologists, delays or inaccuracies in diagnosing and managing thyroid conditions may lead to suboptimal patient care. Thus, the lack of skilled endocrinologists hampers the growth of the market.

During the early phases of the pandemic, healthcare resources and attention were redirected towards managing COVID-19 patients, leading to a temporary reduction in elective procedures and non-urgent diagnostic testing, including thyroid function testing. This shift in healthcare priorities decreased testing volumes and revenue for thyroid function tests. Thus, the COVID-19 pandemic moderately impacted the market.

By Test Type Analysis

Based on test type, the market is divided into TSH test, T4 test, T3 test, free T4 test, free T3 test, and others. In 2022, the T3 test segment held 10.1% growth rate in the market. Ongoing research and clinical studies have highlighted the significance of T3 testing in various thyroid-related conditions, including thyroid cancer, thyroid hormone resistance syndromes, and thyroid hormone transport disorders.



By End-use Analysis

On the basis of end-use, the market is segmented into clinics, diagnostic laboratories, hospitals, research laboratories & institutes. In 2022, the diagnostic laboratories segment attained 35.6% revenue share in the market. Diagnostic laboratories are adopting advanced testing technologies, such as automated immunoassay analyzers, high-performance liquid chromatography (HPLC), and mass spectrometry, which offer improved sensitivity, specificity, and throughput for thyroid function testing.

By Regional Analysis

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region generated 24.9% revenue share in the market in 2022. Many countries in the Asia Pacific region are investing in improving healthcare infrastructure, expanding access to medical services, and enhancing diagnostic capabilities.

List of Key Companies Profiled

  • Quest Diagnostics Incorporated
  • Laboratory Corporation of America Holdings
  • Ulta Lab Tests, LLC
  • DHA Laboratory
  • Everly Health, Inc.
  • ZRT Laboratory LLC
  • Danaher Corporation
  • Thyrocare Technologies Limited
  • Siemens Healthineers AG (Siemens AG)
  • Abbott Laboratories

Market Report Segmentation

By End-use
  • Hospitals
  • Diagnostic Laboratories
  • Clinics
  • Research Laboratories & Institutes
By Test Type
  • TSH Test
  • Free T4 Test
  • T4 Test
  • T3 Test
  • Free T3 Test
  • Others
By Geography
  • North America
  • US
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Thyroid Function Testing Market, by End-use
1.4.2 Global Thyroid Function Testing Market, by Test Type
1.4.3 Global Thyroid Function Testing Market, by Geography
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
3.3 Porter’s Five Forces Analysis
Chapter 4. Global Thyroid Function Testing Market by End-use
4.1 Global Hospitals Market by Region
4.2 Global Diagnostic Laboratories Market by Region
4.3 Global Clinics Market by Region
4.4 Global Research Laboratories & Institutes Market by Region
Chapter 5. Global Thyroid Function Testing Market by Test Type
5.1 Global TSH Test Market by Region
5.2 Global Free T4 Test Market by Region
5.3 Global T4 Test Market by Region
5.4 Global T3 Test Market by Region
5.5 Global Free T3 Test Market by Region
5.6 Global Others Market by Region
Chapter 6. Global Thyroid Function Testing Market by Region
6.1 North America Thyroid Function Testing Market
6.1.1 North America Thyroid Function Testing Market by End-use
6.1.1.1 North America Hospitals Market by Country
6.1.1.2 North America Diagnostic Laboratories Market by Country
6.1.1.3 North America Clinics Market by Country
6.1.1.4 North America Research Laboratories & Institutes Market by Country
6.1.2 North America Thyroid Function Testing Market by Test Type
6.1.2.1 North America TSH Test Market by Country
6.1.2.2 North America Free T4 Test Market by Country
6.1.2.3 North America T4 Test Market by Country
6.1.2.4 North America T3 Test Market by Country
6.1.2.5 North America Free T3 Test Market by Country
6.1.2.6 North America Others Market by Country
6.1.3 North America Thyroid Function Testing Market by Country
6.1.3.1 US Thyroid Function Testing Market
6.1.3.1.1 US Thyroid Function Testing Market by End-use
6.1.3.1.2 US Thyroid Function Testing Market by Test Type
6.1.3.2 Canada Thyroid Function Testing Market
6.1.3.2.1 Canada Thyroid Function Testing Market by End-use
6.1.3.2.2 Canada Thyroid Function Testing Market by Test Type
6.1.3.3 Mexico Thyroid Function Testing Market
6.1.3.3.1 Mexico Thyroid Function Testing Market by End-use
6.1.3.3.2 Mexico Thyroid Function Testing Market by Test Type
6.1.3.4 Rest of North America Thyroid Function Testing Market
6.1.3.4.1 Rest of North America Thyroid Function Testing Market by End-use
6.1.3.4.2 Rest of North America Thyroid Function Testing Market by Test Type
6.2 Europe Thyroid Function Testing Market
6.2.1 Europe Thyroid Function Testing Market by End-use
6.2.1.1 Europe Hospitals Market by Country
6.2.1.2 Europe Diagnostic Laboratories Market by Country
6.2.1.3 Europe Clinics Market by Country
6.2.1.4 Europe Research Laboratories & Institutes Market by Country
6.2.2 Europe Thyroid Function Testing Market by Test Type
6.2.2.1 Europe TSH Test Market by Country
6.2.2.2 Europe Free T4 Test Market by Country
6.2.2.3 Europe T4 Test Market by Country
6.2.2.4 Europe T3 Test Market by Country
6.2.2.5 Europe Free T3 Test Market by Country
6.2.2.6 Europe Others Market by Country
6.2.3 Europe Thyroid Function Testing Market by Country
6.2.3.1 Germany Thyroid Function Testing Market
6.2.3.1.1 Germany Thyroid Function Testing Market by End-use
6.2.3.1.2 Germany Thyroid Function Testing Market by Test Type
6.2.3.2 UK Thyroid Function Testing Market
6.2.3.2.1 UK Thyroid Function Testing Market by End-use
6.2.3.2.2 UK Thyroid Function Testing Market by Test Type
6.2.3.3 France Thyroid Function Testing Market
6.2.3.3.1 France Thyroid Function Testing Market by End-use
6.2.3.3.2 France Thyroid Function Testing Market by Test Type
6.2.3.4 Russia Thyroid Function Testing Market
6.2.3.4.1 Russia Thyroid Function Testing Market by End-use
6.2.3.4.2 Russia Thyroid Function Testing Market by Test Type
6.2.3.5 Spain Thyroid Function Testing Market
6.2.3.5.1 Spain Thyroid Function Testing Market by End-use
6.2.3.5.2 Spain Thyroid Function Testing Market by Test Type
6.2.3.6 Italy Thyroid Function Testing Market
6.2.3.6.1 Italy Thyroid Function Testing Market by End-use
6.2.3.6.2 Italy Thyroid Function Testing Market by Test Type
6.2.3.7 Rest of Europe Thyroid Function Testing Market
6.2.3.7.1 Rest of Europe Thyroid Function Testing Market by End-use
6.2.3.7.2 Rest of Europe Thyroid Function Testing Market by Test Type
6.3 Asia Pacific Thyroid Function Testing Market
6.3.1 Asia Pacific Thyroid Function Testing Market by End-use
6.3.1.1 Asia Pacific Hospitals Market by Country
6.3.1.2 Asia Pacific Diagnostic Laboratories Market by Country
6.3.1.3 Asia Pacific Clinics Market by Country
6.3.1.4 Asia Pacific Research Laboratories & Institutes Market by Country
6.3.2 Asia Pacific Thyroid Function Testing Market by Test Type
6.3.2.1 Asia Pacific TSH Test Market by Country
6.3.2.2 Asia Pacific Free T4 Test Market by Country
6.3.2.3 Asia Pacific T4 Test Market by Country
6.3.2.4 Asia Pacific T3 Test Market by Country
6.3.2.5 Asia Pacific Free T3 Test Market by Country
6.3.2.6 Asia Pacific Others Market by Country
6.3.3 Asia Pacific Thyroid Function Testing Market by Country
6.3.3.1 China Thyroid Function Testing Market
6.3.3.1.1 China Thyroid Function Testing Market by End-use
6.3.3.1.2 China Thyroid Function Testing Market by Test Type
6.3.3.2 Japan Thyroid Function Testing Market
6.3.3.2.1 Japan Thyroid Function Testing Market by End-use
6.3.3.2.2 Japan Thyroid Function Testing Market by Test Type
6.3.3.3 India Thyroid Function Testing Market
6.3.3.3.1 India Thyroid Function Testing Market by End-use
6.3.3.3.2 India Thyroid Function Testing Market by Test Type
6.3.3.4 South Korea Thyroid Function Testing Market
6.3.3.4.1 South Korea Thyroid Function Testing Market by End-use
6.3.3.4.2 South Korea Thyroid Function Testing Market by Test Type
6.3.3.5 Singapore Thyroid Function Testing Market
6.3.3.5.1 Singapore Thyroid Function Testing Market by End-use
6.3.3.5.2 Singapore Thyroid Function Testing Market by Test Type
6.3.3.6 Malaysia Thyroid Function Testing Market
6.3.3.6.1 Malaysia Thyroid Function Testing Market by End-use
6.3.3.6.2 Malaysia Thyroid Function Testing Market by Test Type
6.3.3.7 Rest of Asia Pacific Thyroid Function Testing Market
6.3.3.7.1 Rest of Asia Pacific Thyroid Function Testing Market by End-use
6.3.3.7.2 Rest of Asia Pacific Thyroid Function Testing Market by Test Type
6.4 LAMEA Thyroid Function Testing Market
6.4.1 LAMEA Thyroid Function Testing Market by End-use
6.4.1.1 LAMEA Hospitals Market by Country
6.4.1.2 LAMEA Diagnostic Laboratories Market by Country
6.4.1.3 LAMEA Clinics Market by Country
6.4.1.4 LAMEA Research Laboratories & Institutes Market by Country
6.4.2 LAMEA Thyroid Function Testing Market by Test Type
6.4.2.1 LAMEA TSH Test Market by Country
6.4.2.2 LAMEA Free T4 Test Market by Country
6.4.2.3 LAMEA T4 Test Market by Country
6.4.2.4 LAMEA T3 Test Market by Country
6.4.2.5 LAMEA Free T3 Test Market by Country
6.4.2.6 LAMEA Others Market by Country
6.4.3 LAMEA Thyroid Function Testing Market by Country
6.4.3.1 Brazil Thyroid Function Testing Market
6.4.3.1.1 Brazil Thyroid Function Testing Market by End-use
6.4.3.1.2 Brazil Thyroid Function Testing Market by Test Type
6.4.3.2 Argentina Thyroid Function Testing Market
6.4.3.2.1 Argentina Thyroid Function Testing Market by End-use
6.4.3.2.2 Argentina Thyroid Function Testing Market by Test Type
6.4.3.3 UAE Thyroid Function Testing Market
6.4.3.3.1 UAE Thyroid Function Testing Market by End-use
6.4.3.3.2 UAE Thyroid Function Testing Market by Test Type
6.4.3.4 Saudi Arabia Thyroid Function Testing Market
6.4.3.4.1 Saudi Arabia Thyroid Function Testing Market by End-use
6.4.3.4.2 Saudi Arabia Thyroid Function Testing Market by Test Type
6.4.3.5 South Africa Thyroid Function Testing Market
6.4.3.5.1 South Africa Thyroid Function Testing Market by End-use
6.4.3.5.2 South Africa Thyroid Function Testing Market by Test Type
6.4.3.6 Nigeria Thyroid Function Testing Market
6.4.3.6.1 Nigeria Thyroid Function Testing Market by End-use
6.4.3.6.2 Nigeria Thyroid Function Testing Market by Test Type
6.4.3.7 Rest of LAMEA Thyroid Function Testing Market
6.4.3.7.1 Rest of LAMEA Thyroid Function Testing Market by End-use
6.4.3.7.2 Rest of LAMEA Thyroid Function Testing Market by Test Type
Chapter 7. Company Profiles
7.1 Quest Diagnostics Incorporated
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental Analysis
7.1.4 Recent strategies and developments:
7.1.4.1 Product Launches and Product Expansions:
7.1.5 SWOT Analysis
7.2 Laboratory Corporation of America Holdings
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental Analysis
7.2.4 Recent strategies and developments:
7.2.4.1 Product Launches and Product Expansions:
7.2.5 SWOT Analysis
7.3 Ulta Lab Tests, LLC
7.3.1 Company Overview
7.3.2 SWOT Analysis
7.4 DHA Laboratory
7.4.1 Company Overview
7.4.2 SWOT Analysis
7.5 Everly Health, Inc.
7.5.1 Company Overview
7.5.2 SWOT Analysis
7.6 ZRT Laboratory LLC
7.6.1 Company Overview
7.6.2 Recent strategies and developments:
7.6.2.1 Product Launches and Product Expansions:
7.6.3 SWOT Analysis
7.7 Danaher Corporation
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Segmental and Regional Analysis
7.7.4 Research & Development Expense
7.7.5 SWOT Analysis
7.8 Thyrocare Technologies Limited
7.8.1 Company Overview
7.8.2 Financial Analysis
7.8.3 Segmental and Regional Analysis
7.8.4 Recent strategies and developments:
7.8.4.1 Business Expansions:
7.8.5 SWOT Analysis
7.9 Siemens Healthineers AG (Siemens AG)
7.9.1 Company Overview
7.9.2 Financial Analysis
7.9.3 Segmental and Regional Analysis
7.9.4 Research & Development Expense
7.9.5 Recent strategies and developments:
7.9.5.1 Product Launches and Product Expansions:
7.9.6 SWOT Analysis
7.10. Abbott Laboratories
7.10.1 Company Overview
7.10.2 Financial Analysis
7.10.3 Segmental and Regional Analysis
7.10.4 Research & Development Expense
7.10.5 SWOT Analysis
Chapter 8. Winning Imperatives of Thyroid Function Testing Market

Companies Mentioned

  • Quest Diagnostics Incorporated
  • Laboratory Corporation of America Holdings
  • Ulta Lab Tests, LLC
  • DHA Laboratory
  • Everly Health, Inc.
  • ZRT Laboratory LLC
  • Danaher Corporation
  • Thyrocare Technologies Limited
  • Siemens Healthineers AG (Siemens AG)
  • Abbott Laboratories

Methodology

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