Thyroid function tests are primarily used to diagnose thyroid disorders, to monitor treatment for people with known thyroid problems, and to screen for thyroid disorders.
The India Thyroid Function Test Market is estimated to be valued at US$ 300 million in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The Global India Thyroid Function Test Market Size is expected to witness significant growth over the forecast period owing to the rising incidences of thyroid disorders. Rapid urbanization and changing lifestyle have increased environmental stress, which in turn has increased thyroid related issues among people. According to a study conducted by National Center for Biotechnology Information (NCBI) in 2020, India accounted for maximum cases of autoimmune thyroid disease ly, with 27 million cases of hypothyroidism. As per the same source, the occurrences of hyperthyroidism are also increasing in India, with 1-2% of the entire Indian population suffering from it. This has prompted more people to undergo thyroid screening tests, thereby boosting the market growth for thyroid function tests in the country.
Segment Analysis
The India thyroid function test market is dominated by TSH (Thyroid Stimulating Hormone) test segment. TSH test is preferred by doctors as first line of testing for thyroid disorders. It is a sensitive test to check if the thyroid gland is functioning properly. Thus, the TSH test segment holds over 60% share of the overall market.
Key Takeaways
The India thyroid function test market is expected to witness high growth. The India Thyroid Function Test Market is estimated to be valued at US$ 300 million in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024-2031.
Regional analysis
The western region accounts for the largest share in India thyroid function test market owing to growing prevalence of thyroid disorders. States like Maharashtra and Gujarat have high number of thyroid patients undergoing regular tests. Furthermore, rising health awareness has fueled the market growth in this region.
Key players related content comprises
Key players operating in the India thyroid function test market are Dr. Lal PathLabs, Metropolis Healthcare Ltd, Suburban Diagnostics (India) Pvt. Ltd., Eurofins, and HiMedia Laboratories.
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